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Franklin Savings Bank, Farmington police shine light on fraud

2 mins read
FSB Operations and Security Specialist Danielle Welch and Vice President and Director of Information Technology Brad Martin address questions at last week’s event.

FARMINGTON – Small businesses lose an estimated $7 billion to fraud each year, according to the Better Business Bureau. Franklin Savings Bank and the Farmington Police Department are working together to see that it doesn’t happen in our local community.

The FSB and FPD outlined some of the tricks and techniques used by fraudsters to steal money from small businesses at a Business Fraud Seminar recently in Wilton.

About 30 people attended the breakfast session on Feb. 27 at Calzolaio Pasta Company in Wilton, hosted by Franklin Savings Bank and the Franklin County Chamber of Commerce.

“This was a joint effort between the bank and the police,” said FSB Operations and Security Specialist Danielle Welch. “The strong attendance proved this topic to be important to the members of our communities.”

From the bank, Business Solutions Manager Beckie Bowering and Vice President and Director of Information Technology Brad Martin, addressed many questions about cybersecurity, scams, and phishing. In addition, Electronic Banking Specialist Joshua Bickerman stressed the importance of checking for skimmers on ATM and debit card terminals and addressed debit card fraud inquiries.

Farmington Police Department Detective Marc Bowering outlined check fraud, counterfeit currency and the laws and liabilities that could affect small business owners. The participants were able to view real counterfeit bills and checks. Detective Bowering also discussed the proper steps to take if a business becomes the victim of a scam.

The event raised $60 for the Care and Share Food Closet in Farmington through a donation in lieu of seminar fee.

“Franklin Savings Bank is always looking for opportunities to continue to empower their customers to protect their financial assets,” said Welch. “We look forward to more opportunities to share information with our community members about their finances. We enjoy spending time with our customers and helping them as much as we can.”

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