Protect yourself from fraud: We will never ask for your password, PIN, or one-time passcode. If something seems suspicious, contact Horizon Bank directly.

Business Scams & Fraud Prevention

Spot scams fast to protect your company’s bottom line and reputation.
Man looking concerned at his laptop at a coffe shop.

Business Email Compromise

Business Email Compromise (BEC) is a rising threat that targets both large enterprises and small companies. Attackers spend days - or even weeks - researching your organization to craft convincing messages that appear to come from a known vendor, executive or partner. Once they’ve earned your trust, they spring the trap: urgent wire-transfer requests, last-minute invoice changes or fake “vendor update” notices. A single successful BEC attack can drain thousands (or even millions) from your accounts and damage your reputation in an instant.

Learn More

Red Flags

  • Sender address is off by a letter or uses a look-alike domain (e.g. “finance-vendor.com” vs. “financevendor.com”)
  • Unexpected change requests for payment details, routing info or invoice terms
  • Emails pressuring you to act immediately or outside normal protocols
  • Messages that refer to people or projects no one on your team recognizes
  • Attachments or links that prompt you to enable macros or login on a non-company page

How to Protect Yourself

  • Always verify any payment or account-change request by calling a known phone number—never by replying to the email
  • Require two-factor authentication on every business email and financial platform
  • Use email-authentication tools (DMARC, DKIM, SPF) to block spoofed and forged messages
  • Keep an approved vendor contact list up to date and restrict who can request changes
  • Monitor outbound wires for unusual amounts or destinations and flag anything out of the ordinary
Person handing a check to another person, closeup of hands.

Check Fraud is a Persistent Threat to Your Business

Check fraud is still a common threat, with scammers stealing checks from the mail or unsecured areas, then using chemicals to erase and rewrite them—often for higher amounts or different payees.

Just a few altered checks can cause cash flow issues and take time to fix.

Positive Pay helps stop fraud before it impacts your account. It compares each check presented for payment to your issued- check list and flags anything that doesn’t match. That means fewer surprises—and more peace of mind.

At Horizon Bank, we’re here to help you protect what matters most.

Learn More

Red Flags

  • Check amounts or payees that don’t match your approved records
  • Smudged, discolored or unusually wrinkled check paper
  • Endorsements from names you don’t recognize
  • Checks deposited or cashed at branches or ATMs your company never uses

How to Protect Yourself

  • Keep all blank stock and signed checks in a locked safe or cabinet
  • Use a locked mailbox or courier service for outgoing payments
  • Enroll in your bank’s Positive Pay service to flag mismatches between issued and presented checks
  • Require dual sign-off on checks over a set dollar threshold
  • Where possible, shift vendors to electronic payments (ACH or wire) for better audit trails
guy-with-mobile-phone_istock1088347818e

Give Your Account an Extra Layer of Protection with 2-Step Verification

Enable 2-step verification and get extra security when you sign in to horizonbank.com. You’ll be asked to verify it’s you by entering a one-time code.
Person pointing to a laptop on a desk.

Merchandise Scams

Merchandise Scams lure businesses with “can’t-miss” deals on equipment, supplies or materials - often at steep bulk-order discounts - but require full payment or hefty deposits up front. Once you pay, the vendor vanishes, delivers counterfeit or subpar products, or sends nothing at all. These schemes can drain your cash reserves, leave projects stalled and force you into costly last-minute replacements.

Learn More

Red Flags

  • Prices well below market value or “limited time” bulk discounts that seem too good to be true
  • Requests for payment via wire transfer, prepaid cards or cryptocurrency only
  • Vendors operating from generic email domains (e.g., @gmail.com) or without a verifiable address
  • Poorly designed websites, vague company information or no online reviews
  • High-pressure tactics (“order now before stock runs out”)

How to Protect Yourself

  • Vet every new supplier - check business registrations, references and third-party reviews
  • Use formal purchase orders and contracts that specify delivery dates, quality standards and payment schedules
  • Tie deposits or progress payments to verifiable milestones or partial deliveries
  • Favor payment methods with built-in protections (corporate cards, escrow services) over full upfront wires
  • Order a small sample first to confirm legitimacy before committing to large quantities
Construction workers shaking hands.

Services Fraud

Fraudsters pose as legitimate contractors, consultants or service providers - demanding full payment or large deposits up front, then disappearing or delivering subpar work. You’re left scrambling to find a replacement at a premium cost, with both your project and budget derailed.

Learn More

Red Flags

  • Requests for full payment (or very large deposits) before any work begins
  • No formal contract, vague scope of work or refusal to sign detailed agreements
  • Invoices with generic line items or lacking clear cost breakdowns
  • Providers who avoid site visits, in-person meetings or verifiable references
  • Promises of unusually fast turnaround or rock-bottom pricing without a plausible explanation

How to Protect Yourself

  • Always insist on a written contract that spells out deliverables, milestones and payment schedules
  • Verify licenses, certifications and past performance - speak directly with former clients
  • Tie payments to completed milestones instead of paying everything upfront
  • Use escrow services or corporate cards (which offer dispute/chargeback protections)
  • Conduct basic background and business-registration checks before you sign on the dotted line

Frequently Asked Questions