Small Business Cyber Safety
When small businesses fall victim to a cybersecurity attack, the fallout can be devastating. While some small business owners may argue that cyber criminals have bigger fish to fry, they forget that their business can be easier to infiltrate and steal customer data than a larger business with a specific IT department. With fewer resources […]
Beneficial Ownership Information Reporting Reminder
The following is a press release issued by the Financial Crimes Enforcement Network (FinCEN) on July 26, 2024, regarding the new reporting requirements for many businesses in the United States. This is solely being provided as an informative resource, as West Bank will not collect or share this information and will not take part in […]
Account Takeover Fraud
According to SEON’s Global Statistics in Account Takeover Fraud for 2023, 22% of US adults have fallen victim to account takeover fraud. As the population’s digital presence and online transactions continue to grow, the ways for criminals to find to hack into devices also continue to increase. What is account takeover fraud? As defined by […]
How to Redefine Retirement in Your 50s
Age 50 is a major milestone. Not only does it mean you’ve lived for half a century, but it also comes with some key advantages that can ensure you are saving enough for retirement. If you want to retire at 65, you only have 15 years left at age 50 to make sure you have […]
Elder Fraud Continues to Rise
Elder fraud abuse is increasingly prevalent, often more so than people realize. According to Nasdaq’s 2024 Global Financial Crime Report, one in 10 elderly Americans are victims of financial abuse. Of all global fraud in 2023, $77.7 billion was linked to elderly financial exploitation. In the United States alone, the FBI’s Internet Crime Complaint Center […]
West Bank Donates Furniture to Nonprofit Neighbor
Left to Right: Cara Kennedy-Ode, Board Chair (CSA); Brett Stiles, Operations Manager (CSA); Christina Smith, President and CEO (CSA); Jason Ruppert, SVP/Commercial Banker (West Bank); Jon Hummel, VP/Commercial Banker (West Bank); Sara Larson, VP/Central Iowa Retail Manager (West Bank) As West Bank opened its new headquarters 3330 Westown Parkway in West Des Moines, the furniture […]
Business Email Compromise
Business Email Compromise (BEC) is a scam that seeks to defraud a company through email. Because so much of business is conducted through email, it makes this scheme highly damaging if it succeeds. According to the FBI’s 2023 Internet Crime Report, the Internet Crime Complaint Center received 21,489 BEC complaints with adjusted losses of over […]
Protect Your Business From Check Fraud
Whether you are a small business or serve thousands of customers a day, taking steps to fight check fraud is vital to keeping your organization safe. The Treasurer’s Guide to AR Payment Optimization estimates that 40% of all business-to-business (B2B) payments in the United States are made via check. As long as payments continue to […]
Consumer Check Fraud Safety
Over the past few years, check fraud has been on the rise, with an uptick in cases more recently. According to the Iowa Bankers Exchange, Suspicious Activity Reports for check fraud increased by 201.2% from 2018 to 2022. Nasdaq’s 2024 Global Financial Crime Report revealed that in 2023 alone, check fraud led to $21 billion […]
Loving Your Aging Family Member Well
Aging is a part of life, but it can be hard to watch your loved ones get older. One way you can walk alongside them is by watching for signs of elderly financial abuse. Elderly financial abuse is a crime that deprives older adults of their resources and independence by taking advantage of their finances […]