How Bill Pay Fraud Works

Fraudsters often gain access to an online banking account through phishing emails, stolen passwords, or malware. Once inside, they may:

• Add a new payee with a name that appears legitimate.
• Change payment information for an existing company or vendor.
• Redirect ACH payments to a different account.
• Schedule large or recurring payments to fraudulent accounts.

Because many customers trust their online bill pay settings, these changes can go unnoticed until a payment is missing or an account becomes overdue.

Warning Signs to Watch For

Bill pay fraud can be subtle, but there are a few red flags that should prompt immediate attention:

• New payees that you do not recognize
• Notifications that your payment information has changed
• Bills are reported as unpaid when you know you sent payment
• Unusual ACH requests from vendors or service providers
• Login alerts from unfamiliar devices or locations

Reviewing your payment setup regularly can help you catch these warning signs before funds are lost.

Verify Payment Change Requests

Fraudsters often impersonate trusted vendors and send emails requesting that future payments be sent to a new bank account. These messages may look authentic and include realistic logos and signatures.

Before updating any payment information:

• Call the vendor using a phone number you already know is legitimate.
• Confirm the request with a trusted contact.
• Be cautious of urgent messages that pressure you to act quickly.
• Never rely solely on the contact information provided in the suspicious email.

Taking a few minutes to verify can prevent costly mistakes.

Set Up Account Alerts

One of the most effective ways to catch fraud early is by enabling banking alerts. Consumers National Bank offers customizable notifications that can help you monitor account activity in real time.

Consider setting alerts for:

• New payees added to your bill pay profile
• Changes to account settings or contact information
• Scheduled bill payments
• ACH transactions over a selected dollar amount
• Login attempts from unfamiliar devices

These alerts can provide an early warning if someone gains unauthorized access to your account.

Use Multi-Factor Authentication (MFA)

Strong passwords are important, but they are only the first line of defense. Multi-factor authentication adds another layer of security by requiring a one-time verification code or approval from your mobile device.

Even if a fraudster obtains your password, MFA makes it significantly harder for them to access your account and make changes.

If you have not already enabled MFA, we strongly encourage you to do so through your online banking settings.

Protect Your Devices and Email

Since many account takeovers begin with phishing emails, keeping your devices secure is essential.

Follow these best practices:

• Use antivirus software and install updates promptly.
• Avoid clicking suspicious links or attachments.
• Use unique passwords for banking and email accounts.
• Secure your email account with MFA as well.

Remember, if a scammer gains access to your email, they may also gain access to password reset links and account notifications.

Review Your Bill Pay Activity Regularly

Make it a habit to log in and review your bill pay dashboard. Look at:

• The list of saved payees
• Upcoming and recurring payments
• Recent changes to payment instructions
• Payment confirmations

The sooner you notice an unfamiliar payee or unauthorized change, the better the chance of stopping fraud before more payments are sent.

What to Do If You Spot Suspicious Activity

If you discover an unfamiliar payee, an unauthorized ACH change, or a payment you did not schedule:

1. Log in and remove the suspicious payee if possible.
2. Change your online banking password immediately.
3. Review recent transactions for additional unauthorized activity.
4. Contact Consumers National Bank right away.

Quick action can help minimize losses and secure your account.

Stay One Step Ahead of Fraud

Bill pay fraud often happens quietly, but vigilance can make all the difference. By reviewing your payees, verifying payment changes, enabling alerts, and using multi-factor authentication, you can catch suspicious activity before it is too late.

If you have questions about online bill pay security or would like help setting up alerts and MFA, contact Consumers National Bank or visit one of our local branch locations. We are committed to helping you bank with confidence and protect what matters most!