Did you know your COMPANY’S bank account doesn’t enjoy the same protections as a personal account when it comes to fraud? If a hacker takes money from your business account, the bank is NOT responsible for replacing your funds. (Dont believe me? Just go ask your banker what their policy is for replacing money stolen from your business account.) Most people erroneously believe the FDIC protects their funds from fraud; they don’t. They protect you from bank insolvency.
TIP: Call your insurance professional and get a crime policy that will cover stolen funds taken from your compay’s bank account by a hacker OR by a dishonest employee or vendor.