Columbus Business First | Doug Buchanan
Ohio Auditor Dave Yost wants local governments to consider investing in better fraud protection.
Specifically, he’s recommending they consider adding a service at their bank called Positive Pay to safeguard against check fraud. Positive Pay allows customers to provide a list of checks scheduled for payment, with the bank withholding payments for any that don’t match.
Yost found in a survey of public fiscal officers and other financial guardians that about half weren’t familiar with such services offered by banks.
It’s important, he said, because cybercrimes targeting government are on the rise.
“Fraud protection like Positive Pay is a necessary step to protect tax dollars,” he said in his regular Best Practices newsletter. “We think those entrusted with tax dollars at schools, libraries, townships, villages and beyond should look seriously at this option. It’s a relatively inexpensive safety net.”