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Stay informed with out regularly updated resources. Each post convers a unique aspect of banking or finance to enhance your understanding and enable better financial decisions.
When it comes to Money Service Businesses (MSBs), so much of the relationship between the bank and the customer happens behind the scenes through emails, phone calls, documents, and reviews. But sometimes, the most valuable conversations happen face to face.
Recently, Surety Bank conducted a series of on-site visits with MSB customers across Florida. In just two days, our team visited 12 businesses meeting owners where they operate, seeing workflows in real time, and having honest, productive conversations about compliance, fraud prevention, and growth.
The takeaway was clear: on-site visits create clarity, trust, and better outcomes for everyone involved.
From the bank’s side, we review transactions, reports, and data. But that only tells part of the story. Visiting MSBs in person allows us to see how your business actually operates, how customers flow through your store, how decisions are made, and what challenges you face day to day.
For many MSBs, this was the first time they were able to put a face to a name they usually only see in emails or hear on the phone. That alone made a difference. Customers were able to ask questions, share concerns, and better understand why certain compliance requirements exist, not just that they exist.
Site visits also help uncover small issues that can cause big delays later.
During one visit, a customer believed their corporate files were fully up to date. A quick spot check showed otherwise: expired corporate resolutions, missing documentation, and records that hadn’t been refreshed annually as required by Surety Bank policy.
That conversation mattered. Without those documents:
● Checks could be delayed or placed on hold
● Approvals could be paused
● Cash flow could be impacted
Addressing these gaps during a site visit helps MSBs avoid last-minute scrambles, rejected transactions, and unnecessary frustration.
Another consistent theme during site visits was fraud. MSBs are very aware that they are vulnerable and site visits give us the opportunity to talk through practical, preventative steps.
From understanding why certain customers are blocked, to recognizing patterns of suspicious activity, these conversations help MSBs make better decisions before a check is cashed rather than dealing with losses afterward.
Based on the success of these visits, Surety Bank will be conducting more on-site visits starting in the new year. While we can’t visit every MSB at once, we are prioritizing visits based on risk assessments and geographic proximity.
These visits are not audits. They are not meant to tell you how to run your business.
They are meant to:
● Build stronger relationships
● Provide clarity around compliance expectations
● Identify issues early
● Support MSBs with real, practical guidance
Most importantly, they reinforce one thing: we’re here, we’re accessible, and we care about your success.
If you would like to request a site visit or learn more about what to expect, we encourage you to reach out and our team will follow up to discuss next steps.
Email: msb@surety.bank
At Surety Bank, we believe strong partnerships are built through communication, transparency, and mutual understanding. On-site visits help bridge the gap between policy and practice and we look forward to continuing these conversations in person throughout the year ahead.
For many Money Service Businesses (MSBs), a point-of-sale (POS) check-cashing system is required in order to bank with Surety. Larger MSBs generally use these systems as intended but smaller, “mom-and-pop” MSBs often don’t fully understand the capabilities of the software they’re paying for each month.
This gap has created significant issues for MSBs and for our analysts when performing compliance reviews.
The truth is: your POS system is not just a transaction tool. It is a powerful compliance engine. And when it’s used correctly, it protects both your business and the bank.
Every approved vendor on Surety’s list provides a robust set of compliance features. These tools are designed to:
But when MSBs don’t know how to operate the system, or bypass required fields, these features fail, and risk increases.
The transcription captures several recurring issues we see during reviews. Below are the biggest problems and how to fix them.
MSBs must take a clear photo of each customer.
But many stores:
This becomes a problem when analysts need to match customers to suspicious activity.
Fix:
✔ Adjust the camera.
✔ Make sure the customer is actually looking at the lens.
✔ Retake the photo if it's unclear.
When an ID is scanned, the system autofills the address.
But 8 out of 10 profiles contain outdated, inaccurate addresses. This causes major compliance issues when filing CTRs or SARs.
Fix:
✔ Always verbally confirm the customer’s current address.
✔ Update the POS record manually when the ID address is outdated.
Some MSBs never used OFAC checks until Surety required POS systems.
Now they have access to the tool and still forget to use it.
Fix:
✔ Ensure OFAC checks run on every customer, every time.
This is one of the biggest issues.Many MSBs edit the payee section and mistakenly enter:
❌ The name of the person cashing the check (the conductor) instead of:
✔ The name of the entity the check is actually payable to.
This leads to:
Fix:
✔ Always enter the maker and payee correctly. ✔ Never leave fields blank. ✔ Never rely on whatever the system “guesses.”
Your POS system is capable of detecting fraudulent checks before you cash them. But some MSBs override alerts manually, sometimes losing thousands of dollars.
Fix:
✔ Trust the system.
✔ Never override a fraud alert.
✔ Stop the transaction and ask questions.
Most POS vendors offer:
MSBs are strongly encouraged to schedule additional training with their vendor to learn the system fully.
When MSBs use the POS system properly:
If the system is used upfront, risk drops dramatically and compliance becomes smoother for everyone.
Your POS system can only help you if you use it. By taking advantage of the features you’re already paying for, you’ll reduce risk, increase accuracy, and build a stronger compliance foundation for your business.
It’s November, your store is packed, the line at the register is snaking down the aisle and your seasonal staff is doing their best to keep up. You’re watching every sale, every return and every refund, knowing that the next six weeks can make or break your year. With card processing fees climbing, it’s tempting to push customers toward cash and even add a 3% “convenience” or “non-cash adjustment” fee when they tap or swipe a card. After all, there are no fees on cash… right?
The problem is that cash comes with its own price tag, one most retailers don’t see until it’s quietly eaten into their margins.
A study by the Small Business & Entrepreneurship Council found that the real cost of cash can range from 4.7% (grocery) to as high as 15.5% (bars and restaurants) once you factor in labor, handling and shrinkage. That means for every $100 in cash you accept, you might really be keeping only $84.50 to $95.30.
For many retailers, the biggest hidden cost is time:
For example, convenience stores—which operate in a similar high-volume, low-margin environment as many retailers—spend an estimated 15–20 hours per week just counting and handling cash. At an average wage of $14.33 per hour, that’s:
Over a year, that works out to $11,177–$14,903 in labor just to handle cash. During the holidays, when lines are longer and staff is stretched thinner, those hours often go up, not down.
Cash also keeps you in the dark longer than you might realize. With cash-heavy operations, you often don’t know your true daily performance until drawers are counted, deposits are prepared and everything is reconciled—sometimes hours after the store closes. That lag makes it harder to adjust staffing, reorder inventory or tweak promotions while it still matters.
Electronic payments, by contrast, can feed real-time metrics into your point-of-sale and treasury platforms. You can see, often down to the hour, what’s selling, which locations are busiest, which promotions are working and how your cash flow looks heading into the next day. That visibility is especially valuable in the holiday rush, when a fast decision about staffing or inventory can mean the difference between a record weekend and missed opportunities.
On top of labor, cash exposes retailers to risks that electronic payments help reduce:
This is why many banks are rolling out treasury platforms with fraud controls, positive pay, ACH options and remote deposit capture to help business customers move away from “cash management” and toward cash flow management. Framing the conversation around speed, security, real-time information and time savings can be more effective—and more honest—than simply pushing for “more cash.”
Let’s apply real numbers to a typical retail scenario.
Say you own a store and decide to add a 3% convenience fee to card transactions while still accepting cash. Here’s what happens on a $100 ticket:
Card payment with a 3% convenience fee
Cash payment with hidden costs (using the 15.5% example)
So for every $100 transaction, you effectively keep:
That’s a $15.41 difference per $100 ticket in favor of electronic payments.
During the holidays, when your volume spikes, that gap adds up quickly. The season you’ve been counting on to boost profits can quietly turn into the season where hidden cash costs quietly steal them away, one transaction at a time.
If you’d like to talk through how to reduce the hidden costs of cash, improve fraud protection and gain better real-time visibility into your business accounts and merchant processing, contact Surety’s Treasury Services Department to discuss business accounts and merchant accounts with built-in protection.
This is a fictitious story—but it's based on real events that happen to small businesses every single day.
The owner of a thriving local furniture business had just signed the biggest deal of the year. Everything seemed on track until her bookkeeper received an email from a familiar client with “updated wire instructions.” The message looked legitimate. No red flags. So the payment—nearly $50,000—was sent. Two days later, the real client called to say the deposit never arrived. The money was gone. And so was the illusion that something like this “would never happen to us.”
Within a week, long-time customers started asking tough questions. A supplier tightened payment terms. A local partnership quietly backed out of an event. And worse—people started whispering that the business “might not be secure.”
This is how quickly a single fraud incident can unravel years of hard-earned trust.
Even if you recover the stolen funds or file an insurance claim, the damage to your reputation can last far longer—and cut deeper.
Protecting your business starts with building strong internal controls and using the tools your bank offers:
Surety Bank offers many of these solutions through our Treasury team, and we can help tailor them to your specific operations.
Even with great controls, no system is bulletproof. If fraud strikes, your response will determine how much damage your reputation takes—and how quickly you can recover.
In the first 72 hours:
In the weeks that follow:
This fictitious business was lucky—it survived. But the lesson is clear: fraud isn’t just a financial risk, it’s a reputational one. And once trust is broken, it takes time, strategy, and transparency to win it back.
At Surety Bank, we help businesses of all sizes protect their operations from fraud. Whether you need payment controls, alert systems, or a plan for what to do in a crisis, our Treasury & Fraud Prevention Team is here to help.
In the Summer 2025 issue of Building Central Florida Magazine, Surety Bank’s CEO Ryan James maps out a playbook for contractors battling the tariff-driven spikes in steel, aluminum, and other construction staples. James urges firms to replace one-job-at-a-time budgeting with rolling, company-wide cash-flow forecasts; to negotiate for delivery and payment flexibility; to lock in contingency capital before trouble hits; and to embed escalation clauses that keep margins intact—all while maintaining proactive, transparent communication with clients.
Read the full article on page 17:
Building Through the Turbulence – Building Central Florida Magazine
It’s easy to assume that in a digital world, check fraud is a thing of the past. But the reality is quite the opposite. In 2023 alone, check fraud losses in the Americas totaled a staggering $21 billion—representing 80% of all global check fraud cases. Despite a steady decline in the use of checks, fraudsters are doubling down on a still-vulnerable payment channel.
So what happens when a check your business issued ends up in the wrong hands?
Let’s say you wrote a vendor check back in February. Today, that check suddenly clears—but it’s been altered or stolen. What’s your next move? Do you catch it in time? Will your bank reimburse the loss? If you’re like many business owners, you’d expect your bank to take care of it. But depending on the terms in your bank’s Deposit Agreement, you may only have 30 days from the date of your statement to report the fraud and recover those funds. And once that window closes, so may your chances of getting that money back.
At Surety Bank, we want our business clients to know that help exists—and it's called Positive Pay.
Positive Pay is a fraud prevention tool that verifies checks presented for payment against a list of checks you’ve actually issued. If the details don’t match, the bank flags the check and reaches out before funds are released.
It’s like having a security checkpoint for every check your business issues.
Here’s what fraud can really cost your business:
Surety Bank’s Positive Pay solution is designed to reduce those risks before they become losses. Instead of waiting for fraud to strike, it gives business owners a chance to act first.
Most business owners don’t have the luxury of watching every check line item on their bank statement. Positive Pay works in the background—quietly checking, flagging, and helping you intercept fraud before it’s too late.
By offering this service, we’re not just protecting your account—we’re protecting your time, your reputation, and your peace of mind.
Check fraud isn’t going away. But your exposure to it can.
If you’re still issuing paper checks, it’s time to ask yourself: How am I protecting my business from check fraud? At Surety Bank, we’re ready to help you find the answer.
Reach out to our Treasury Management team to learn how Positive Pay can fit into your fraud prevention strategy.
Personal fraud continues to evolve, and scammers are finding increasingly sophisticated ways to target consumers. From AI-powered messages that appear surprisingly convincing to attempts to gain access to entire financial accounts. Recognizing the warning signs is becoming more important than ever.
While you can't prevent every fraud attempt, knowing what to watch for and taking a few proactive steps can make it much harder for scammers to succeed.
Artificial intelligence is making fraudulent calls and text messages feel more personal and legitimate. Scammers can use AI to create convincing communications designed to make you believe you're interacting with a trusted person or organization.
Be cautious when you receive an unexpected call or message asking for personal information, money, or access to an account. Before responding or taking action, reach out to Surety Bank directly to verify they are the ones calling. This step could mean not being scammed out of your money.
Fraudsters are increasingly looking beyond individual credit card numbers and attempting to gain access to entire financial profiles, including personal bank and investment accounts.
Protect your accounts by regularly reviewing activity for transactions you don't recognize and using multifactor authentication whenever it's available. Never provide your password, login credentials, or verification codes to someone who contacts you unexpectedly.
If you notice something unusual in your Surety Bank account, contact us promptly.
Older adults continue to be frequent targets of financial scams, particularly those involving tech support and investment-related schemes.
These scams often rely on urgency or fear to convince someone to act before they have an opportunity to question what's happening. Talk with older family members about common scams and encourage them to check with someone they trust before sending money or providing sensitive information in response to an unexpected request.
Taking a few minutes to verify a situation can help prevent a significant financial loss.
Protecting yourself doesn't require becoming a fraud expert. Start by being skeptical of unexpected requests for money or information, especially when someone pressures you to act immediately.
Use strong, unique passwords and enable multifactor authentication when available. Avoid clicking links in unexpected emails or text messages, and regularly review your bank accounts and credit reports for activity you don't recognize.
Most importantly, trust your instincts. If something doesn't feel right, stop and verify before taking action.
If you'd like to take additional steps to protect yourself, here are three resources worth exploring:
FTC IdentityTheft.gov
Best for someone who thinks their identity has already been compromised. The FTC provides a personalized recovery plan and steps for addressing identity theft.
Visit IdentityTheft.gov
FTC Credit Freeze & Fraud Alert Guide
Customers can place a free credit freeze, which can prevent identity thieves from opening new credit accounts in their name, or add a fraud alert.
Learn About Credit Freezes & Fraud Alerts
Aura
For those interested in a paid protection service, Aura offers identity and financial monitoring tools and other fraud-protection features. I’d position this as an optional third-party tool, not something Surety is recommending over other services.
Explore Aura
These resources are provided for informational purposes. Surety Bank does not endorse or guarantee any third-party product or service.
Fraud tactics will continue to change, but one of your strongest defenses is also one of the simplest: slow down.
Scammers often depend on creating urgency so you act before thinking. If you're unsure about a request involving your Surety Bank account, don't rely on the phone number, link, or contact information provided in the message. Contact Surety Bank directly through a trusted channel.
We're here to help you protect your financial information and recognize potential fraud before it becomes a loss.
For Maria Bonfiglio, working at Surety Bank has always been about more than banking. It's about taking care of people.
Maria has been part of the Surety Bank family for nine years, but her journey began with a simple text message. A former boss she had stayed in touch with reached out years after they had worked together and told her, "I have the perfect job for you." Maria's response was simple: "Where should I sign?"
Nine years later, her enthusiasm hasn't changed.
"I love it. I love my job."
Over the years, Maria's role has evolved, giving her the opportunity to learn new skills and develop deeper relationships with customers. She has gotten to know some of them so well that she can recognize who is calling just by the sound of their voice. For Maria, those relationships are what make Surety feel less like a workplace and more like a family.
That personal connection also shapes the way Maria approaches protecting customers.
When something doesn't seem right, she isn't afraid to ask questions. Whether she's reviewing a check or helping someone resolve an issue with an account, Maria understands that taking a little extra time can make a significant difference.
"We really care about our customers," Maria explains. Even when customers may wonder why the bank is asking additional questions, she wants them to understand the reason behind it. "We don't want them to lose money."
For Maria, that care isn't limited to customers. She has experienced it personally as an employee.
During some of the most difficult moments of her life, including an extended hospital stay and the loss of her son, Maria remembers her Surety family checking on her, visiting her, and making sure she knew she wasn't alone. Those experiences showed her that the relationships Surety talks about aren't simply something customers experience. They're part of the culture inside the bank, too.
It's also why Maria believes Surety Bank has remained part of the community for 100 years. She has worked at other banks, but says Surety's involvement in the community feels different. The bank isn't trying to be the biggest. Instead, it has remained focused on the people and communities it serves.
That same philosophy comes through in Maria's relationships with her customers. Some have developed such a strong connection with her that when they call, they specifically ask for Maria. She takes pride in being someone they know they can turn to when they have a question or need assistance.
After nine years, Maria still says thank you for the opportunity that brought her to Surety Bank. Her story is a reminder that relationship banking begins with people who genuinely care about the people on the other side of the counter or phone.
This is how Surety Bank has always done it. It's how we will always do it.
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For Lewis Long III, banking with Surety Bank is a relationship that has lasted more than five decades.
As one of Surety Bank's longest-standing customers, Lewis has watched the bank grow alongside the community since his connection to Surety began more than 50 years ago. He originally opened a savings account after hearing from neighbors that the bank consistently offered strong value and genuinely cared about its customers.
Over the years, Lewis has seen a lot of change. He remembers making deposits with a passbook while employees manually updated balances using a hand-cranked adding machine. What hasn't changed, however, is the way Surety Bank treats the people who walk through its doors.
For Lewis, that commitment extends beyond his own banking experience. When his sons were born, he opened accounts for each of them at Surety Bank, continuing a family tradition that has now spanned generations. One of his sons even participated in the ribbon-cutting ceremony when Surety Bank dedicated its current building in the early 1990s.
Throughout his life of military service, public service, and community involvement, Lewis has always returned to the same bank.
What has kept him loyal all these years?
The answer is simple: people.
"You couldn't ask for better service or better people," Lewis says. "I don't know how they remember everybody's name that walks in the door, but they do. They're just super folks. The people have always been a gift to us and to the community."
Lewis believes that the values Surety Bank was founded on continue to define the bank today. One story from the bank's early history has always stayed with him. During the Great Depression, he recalls hearing that Surety worked with customers rather than rushing to foreclose on them because they cared more about helping people than taking their property. That philosophy, he says, is still reflected in the way the bank serves its customers today.
It's one of the reasons Lewis has become an advocate for the bank wherever he goes.
Whether he's encouraging friends to open a money market account, sharing the bank's history, or even suggesting a new Surety branch for his hometown of Lake Helen, Lewis proudly recommends the bank he's trusted for more than half a century.
"I wouldn't champion the bank if I didn't believe in these folks and believe in this bank," he says. "Everybody is important. They see past whatever's bothering someone that day and still treat people with kindness and respect."
As Surety Bank celebrates 100 years of serving Central Florida, customers like Lewis remind us that while banking has evolved, some things should never change. Genuine relationships, exceptional service, and a commitment to the community remain at the heart of everything we do.
This is how Surety Bank has always done it. It's how we will always do it.
For 100 years, Surety Bank has believed that community banking means more than serving customers inside the walls of a branch. It means investing in the people, organizations, and partnerships that help our communities thrive.
That commitment is something Carla Quann, Director of Community Relations for the Volusia Sheriff's Office, has experienced firsthand.
"Our goal is to support everyone in our community," Carla explains. "Ryan [James] wanted to be a part of what we're doing because he cares about the community."
The partnership between Surety Bank and the Volusia Sheriff's Office began when Surety Bank President & CEO Ryan James joined the Volusia Sheriff's Foundation Board. Since then, the relationship has grown into a collaborative effort focused on addressing some of the community's greatest needs.
One example came during the holiday season, when thousands of local families faced uncertainty after SNAP benefits were unexpectedly interrupted. Through the combined efforts of businesses, volunteers, and community organizations, more than 3,500 grocery bags were distributed to families throughout Volusia County.
According to Carla, Surety Bank was an important part of making that effort possible.
Beyond community events and charitable initiatives, the partnership has also helped strengthen public safety.
As financial scams targeting older adults became increasingly common, Surety Bank worked alongside the Sheriff's Office to provide education, share industry expertise, and help detectives better recognize the warning signs of fraud.
That collaboration ultimately helped lead to the creation of the Volusia Sheriff's Office Financial Crimes Unit—a dedicated team focused on protecting residents from fraud and financial exploitation.
Working together, those efforts have helped recover more than $2 million for local victims of financial crimes.
For Carla, those results reflect what makes Surety Bank different.
"They're not just another hometown bank," she says. "They care about their community."
She believes that commitment starts with customer service but extends far beyond banking. Whether supporting nonprofit organizations, helping law enforcement address emerging scams, or simply answering the phone when someone needs help, Surety Bank has built relationships rooted in trust.
"People trust them," Carla says. "They've built that trust with their customers, and that's why people stay."
As Surety Bank celebrates a century of serving Central Florida, partnerships like this demonstrate that community banking isn't defined only by financial services—it's measured by the impact a bank has on the people and communities it serves.
For 100 years, Surety Bank has believed that when communities succeed, everyone succeeds. Through partnerships built on trust, service, and shared purpose, that commitment continues today—and will continue for generations to come.
Fraud schemes continue to evolve, and one of the latest trends affecting Money Services Businesses involves contractor-related scams. Unlike traditional check fraud, these transactions often involve legitimate cashier's checks, making them more difficult to identify through normal check verification procedures.
Instead, the focus shifts to evaluating the business behind the transaction and determining whether the overall circumstances make sense.
The scam typically begins when individuals posing as contractors approach homeowners offering services such as roofing, driveway paving, masonry work, foundation repair, or waterproofing.
These businesses often appear completely legitimate. They may have professional websites, branded clothing, business cards, invoices, and positive online reviews. In many cases, the homeowner believes they are hiring a reputable contractor.
After the work is completed, or in some cases while it is underway, the homeowner is instructed to obtain a cashier's check for payment. That check is then presented to an MSB for cashing.
The challenge is that the cashier's check itself is often valid. The fraud lies in the business behind the transaction, not the payment instrument.
Many of these businesses are created solely to facilitate the fraud. They may complete some or all of the work, but the services are often performed by unqualified labor, or left unfinished with no intention of honoring warranties or returning to correct problems.
Because the checks themselves are legitimate, identifying potential risk depends on strong corporate due diligence and careful review of the business presenting the transaction.
One of the most valuable parts of corporate due diligence is looking beyond the paperwork and evaluating whether the overall transaction makes sense.
In many of these cases, the documentation appears complete. The business may have incorporation documents, a professional website, branded materials, and everything expected during a review. On the surface, it looks legitimate.
However, taking a closer look may reveal details that deserve additional attention. For example, a construction company incorporated only days or weeks ago may already be cashing a large cashier's check for a major roofing or foundation project. While each of these facts may be reasonable on its own, together they may warrant additional review.
Consider questions such as:
No single factor indicates fraud, and every transaction should be evaluated on its own merits. However, taking a moment to consider the complete picture can help identify higher-risk transactions before they become larger issues.
This type of fraud reinforces why maintaining thorough corporate due diligence procedures is so important.
Reviewing business registrations, ownership information, supporting documentation, and overall transaction activity helps MSBs make informed decisions while reducing operational and compliance risk.
Strong due diligence is not about assuming every new business is fraudulent. It is about asking the right questions when something does not appear consistent with the overall transaction.
Fraudsters continue to refine their tactics, making scams more convincing than ever. Professional websites, polished marketing materials, and valid payment instruments should never replace thoughtful review and sound judgment.
By combining established due diligence procedures with a careful evaluation of the entire transaction, MSBs can better identify emerging fraud trends and help protect both their business and their customers.
As Surety Bank celebrates 100 years of community banking, one thing has remained constant throughout every decade: our commitment to people.
For Alexandra Wells, VP BSA Officer, that commitment is what makes community banking different.
After spending more than 20 years in the legal field, Alexandra joined Surety Bank in 2019, bringing together her legal experience and newly earned accounting degree to help protect customers from fraud, financial crimes, and suspicious activity. Since then, she has advanced through the Bank Secrecy Act department while helping strengthen Surety's commitment to customer protection. But for Alexandra, the work is about far more than regulations and risk management.
"It's about people," she says.
That philosophy became especially clear when an elderly customer began exhibiting unusual banking activity.
The customer, who had recently lost her husband and hired a caretaker, suddenly began cashing checks and making transactions that were completely out of character. Surety Bank's frontline staff noticed the changes immediately. Because they knew the customer and understood her normal banking habits, they recognized that something wasn't right.
The situation was escalated to Alexandra for further review.
After analyzing the account activity, Alexandra and another Surety employee visited the customer at her home. During the visit, several warning signs became apparent. The caretaker repeatedly answered questions on the customer's behalf, and purchases were being made that didn't align with the customer's typical behavior.
Further investigation revealed that the caretaker had gained access to the customer's debit card and was using it for personal purchases, including online shopping and vehicle rentals.
By acting quickly, Surety Bank was able to contact the customer's family, stop the unauthorized activity, and help prevent additional financial loss.
"It's one of the advantages of being a community bank," Alexandra explains. "Because we know our customers, we can recognize when something doesn't seem right and take action."
Stories like this highlight what has set Surety Bank apart for the past century. While technology and banking services continue to evolve, the foundation of community banking remains the same: relationships.
For Alexandra, those relationships extend beyond customers and into the workplace as well.
"At Surety Bank, you're not just a number," she says. "You're a person. We know each other by name, and we genuinely care about one another."
That culture of caring is reflected throughout the organization, from employees supporting one another through life's challenges to teams working together to serve customers with a personal touch.
As Surety Bank enters its second century, Alexandra believes the values that have guided the Bank for the last 100 years will continue to shape its future.
"We've always cared about our customers and our employees," she says. "That's the culture of Surety Bank, and I believe that's something that will continue for another century to come."
After 100 years, it's still how we've always done it: putting people first.
Personal fraud continues to evolve, and scammers are finding increasingly sophisticated ways to target consumers. From AI-powered messages that appear surprisingly convincing to attempts to gain access to entire financial accounts. Recognizing the warning signs is becoming more important than ever.
While you can't prevent every fraud attempt, knowing what to watch for and taking a few proactive steps can make it much harder for scammers to succeed.
Artificial intelligence is making fraudulent calls and text messages feel more personal and legitimate. Scammers can use AI to create convincing communications designed to make you believe you're interacting with a trusted person or organization.
Be cautious when you receive an unexpected call or message asking for personal information, money, or access to an account. Before responding or taking action, reach out to Surety Bank directly to verify they are the ones calling. This step could mean not being scammed out of your money.
Fraudsters are increasingly looking beyond individual credit card numbers and attempting to gain access to entire financial profiles, including personal bank and investment accounts.
Protect your accounts by regularly reviewing activity for transactions you don't recognize and using multifactor authentication whenever it's available. Never provide your password, login credentials, or verification codes to someone who contacts you unexpectedly.
If you notice something unusual in your Surety Bank account, contact us promptly.
Older adults continue to be frequent targets of financial scams, particularly those involving tech support and investment-related schemes.
These scams often rely on urgency or fear to convince someone to act before they have an opportunity to question what's happening. Talk with older family members about common scams and encourage them to check with someone they trust before sending money or providing sensitive information in response to an unexpected request.
Taking a few minutes to verify a situation can help prevent a significant financial loss.
Protecting yourself doesn't require becoming a fraud expert. Start by being skeptical of unexpected requests for money or information, especially when someone pressures you to act immediately.
Use strong, unique passwords and enable multifactor authentication when available. Avoid clicking links in unexpected emails or text messages, and regularly review your bank accounts and credit reports for activity you don't recognize.
Most importantly, trust your instincts. If something doesn't feel right, stop and verify before taking action.
If you'd like to take additional steps to protect yourself, here are three resources worth exploring:
FTC IdentityTheft.gov
Best for someone who thinks their identity has already been compromised. The FTC provides a personalized recovery plan and steps for addressing identity theft.
Visit IdentityTheft.gov
FTC Credit Freeze & Fraud Alert Guide
Customers can place a free credit freeze, which can prevent identity thieves from opening new credit accounts in their name, or add a fraud alert.
Learn About Credit Freezes & Fraud Alerts
Aura
For those interested in a paid protection service, Aura offers identity and financial monitoring tools and other fraud-protection features. I’d position this as an optional third-party tool, not something Surety is recommending over other services.
Explore Aura
These resources are provided for informational purposes. Surety Bank does not endorse or guarantee any third-party product or service.
Fraud tactics will continue to change, but one of your strongest defenses is also one of the simplest: slow down.
Scammers often depend on creating urgency so you act before thinking. If you're unsure about a request involving your Surety Bank account, don't rely on the phone number, link, or contact information provided in the message. Contact Surety Bank directly through a trusted channel.
We're here to help you protect your financial information and recognize potential fraud before it becomes a loss.
For Maria Bonfiglio, working at Surety Bank has always been about more than banking. It's about taking care of people.
Maria has been part of the Surety Bank family for nine years, but her journey began with a simple text message. A former boss she had stayed in touch with reached out years after they had worked together and told her, "I have the perfect job for you." Maria's response was simple: "Where should I sign?"
Nine years later, her enthusiasm hasn't changed.
"I love it. I love my job."
Over the years, Maria's role has evolved, giving her the opportunity to learn new skills and develop deeper relationships with customers. She has gotten to know some of them so well that she can recognize who is calling just by the sound of their voice. For Maria, those relationships are what make Surety feel less like a workplace and more like a family.
That personal connection also shapes the way Maria approaches protecting customers.
When something doesn't seem right, she isn't afraid to ask questions. Whether she's reviewing a check or helping someone resolve an issue with an account, Maria understands that taking a little extra time can make a significant difference.
"We really care about our customers," Maria explains. Even when customers may wonder why the bank is asking additional questions, she wants them to understand the reason behind it. "We don't want them to lose money."
For Maria, that care isn't limited to customers. She has experienced it personally as an employee.
During some of the most difficult moments of her life, including an extended hospital stay and the loss of her son, Maria remembers her Surety family checking on her, visiting her, and making sure she knew she wasn't alone. Those experiences showed her that the relationships Surety talks about aren't simply something customers experience. They're part of the culture inside the bank, too.
It's also why Maria believes Surety Bank has remained part of the community for 100 years. She has worked at other banks, but says Surety's involvement in the community feels different. The bank isn't trying to be the biggest. Instead, it has remained focused on the people and communities it serves.
That same philosophy comes through in Maria's relationships with her customers. Some have developed such a strong connection with her that when they call, they specifically ask for Maria. She takes pride in being someone they know they can turn to when they have a question or need assistance.
After nine years, Maria still says thank you for the opportunity that brought her to Surety Bank. Her story is a reminder that relationship banking begins with people who genuinely care about the people on the other side of the counter or phone.
This is how Surety Bank has always done it. It's how we will always do it.
For Lewis Long III, banking with Surety Bank is a relationship that has lasted more than five decades.
As one of Surety Bank's longest-standing customers, Lewis has watched the bank grow alongside the community since his connection to Surety began more than 50 years ago. He originally opened a savings account after hearing from neighbors that the bank consistently offered strong value and genuinely cared about its customers.
Over the years, Lewis has seen a lot of change. He remembers making deposits with a passbook while employees manually updated balances using a hand-cranked adding machine. What hasn't changed, however, is the way Surety Bank treats the people who walk through its doors.
For Lewis, that commitment extends beyond his own banking experience. When his sons were born, he opened accounts for each of them at Surety Bank, continuing a family tradition that has now spanned generations. One of his sons even participated in the ribbon-cutting ceremony when Surety Bank dedicated its current building in the early 1990s.
Throughout his life of military service, public service, and community involvement, Lewis has always returned to the same bank.
What has kept him loyal all these years?
The answer is simple: people.
"You couldn't ask for better service or better people," Lewis says. "I don't know how they remember everybody's name that walks in the door, but they do. They're just super folks. The people have always been a gift to us and to the community."
Lewis believes that the values Surety Bank was founded on continue to define the bank today. One story from the bank's early history has always stayed with him. During the Great Depression, he recalls hearing that Surety worked with customers rather than rushing to foreclose on them because they cared more about helping people than taking their property. That philosophy, he says, is still reflected in the way the bank serves its customers today.
It's one of the reasons Lewis has become an advocate for the bank wherever he goes.
Whether he's encouraging friends to open a money market account, sharing the bank's history, or even suggesting a new Surety branch for his hometown of Lake Helen, Lewis proudly recommends the bank he's trusted for more than half a century.
"I wouldn't champion the bank if I didn't believe in these folks and believe in this bank," he says. "Everybody is important. They see past whatever's bothering someone that day and still treat people with kindness and respect."
As Surety Bank celebrates 100 years of serving Central Florida, customers like Lewis remind us that while banking has evolved, some things should never change. Genuine relationships, exceptional service, and a commitment to the community remain at the heart of everything we do.
This is how Surety Bank has always done it. It's how we will always do it.
For 100 years, Surety Bank has believed that community banking means more than serving customers inside the walls of a branch. It means investing in the people, organizations, and partnerships that help our communities thrive.
That commitment is something Carla Quann, Director of Community Relations for the Volusia Sheriff's Office, has experienced firsthand.
"Our goal is to support everyone in our community," Carla explains. "Ryan [James] wanted to be a part of what we're doing because he cares about the community."
The partnership between Surety Bank and the Volusia Sheriff's Office began when Surety Bank President & CEO Ryan James joined the Volusia Sheriff's Foundation Board. Since then, the relationship has grown into a collaborative effort focused on addressing some of the community's greatest needs.
One example came during the holiday season, when thousands of local families faced uncertainty after SNAP benefits were unexpectedly interrupted. Through the combined efforts of businesses, volunteers, and community organizations, more than 3,500 grocery bags were distributed to families throughout Volusia County.
According to Carla, Surety Bank was an important part of making that effort possible.
Beyond community events and charitable initiatives, the partnership has also helped strengthen public safety.
As financial scams targeting older adults became increasingly common, Surety Bank worked alongside the Sheriff's Office to provide education, share industry expertise, and help detectives better recognize the warning signs of fraud.
That collaboration ultimately helped lead to the creation of the Volusia Sheriff's Office Financial Crimes Unit—a dedicated team focused on protecting residents from fraud and financial exploitation.
Working together, those efforts have helped recover more than $2 million for local victims of financial crimes.
For Carla, those results reflect what makes Surety Bank different.
"They're not just another hometown bank," she says. "They care about their community."
She believes that commitment starts with customer service but extends far beyond banking. Whether supporting nonprofit organizations, helping law enforcement address emerging scams, or simply answering the phone when someone needs help, Surety Bank has built relationships rooted in trust.
"People trust them," Carla says. "They've built that trust with their customers, and that's why people stay."
As Surety Bank celebrates a century of serving Central Florida, partnerships like this demonstrate that community banking isn't defined only by financial services—it's measured by the impact a bank has on the people and communities it serves.
For 100 years, Surety Bank has believed that when communities succeed, everyone succeeds. Through partnerships built on trust, service, and shared purpose, that commitment continues today—and will continue for generations to come.
Fraud schemes continue to evolve, and one of the latest trends affecting Money Services Businesses involves contractor-related scams. Unlike traditional check fraud, these transactions often involve legitimate cashier's checks, making them more difficult to identify through normal check verification procedures.
Instead, the focus shifts to evaluating the business behind the transaction and determining whether the overall circumstances make sense.
The scam typically begins when individuals posing as contractors approach homeowners offering services such as roofing, driveway paving, masonry work, foundation repair, or waterproofing.
These businesses often appear completely legitimate. They may have professional websites, branded clothing, business cards, invoices, and positive online reviews. In many cases, the homeowner believes they are hiring a reputable contractor.
After the work is completed, or in some cases while it is underway, the homeowner is instructed to obtain a cashier's check for payment. That check is then presented to an MSB for cashing.
The challenge is that the cashier's check itself is often valid. The fraud lies in the business behind the transaction, not the payment instrument.
Many of these businesses are created solely to facilitate the fraud. They may complete some or all of the work, but the services are often performed by unqualified labor, or left unfinished with no intention of honoring warranties or returning to correct problems.
Because the checks themselves are legitimate, identifying potential risk depends on strong corporate due diligence and careful review of the business presenting the transaction.
One of the most valuable parts of corporate due diligence is looking beyond the paperwork and evaluating whether the overall transaction makes sense.
In many of these cases, the documentation appears complete. The business may have incorporation documents, a professional website, branded materials, and everything expected during a review. On the surface, it looks legitimate.
However, taking a closer look may reveal details that deserve additional attention. For example, a construction company incorporated only days or weeks ago may already be cashing a large cashier's check for a major roofing or foundation project. While each of these facts may be reasonable on its own, together they may warrant additional review.
Consider questions such as:
No single factor indicates fraud, and every transaction should be evaluated on its own merits. However, taking a moment to consider the complete picture can help identify higher-risk transactions before they become larger issues.
This type of fraud reinforces why maintaining thorough corporate due diligence procedures is so important.
Reviewing business registrations, ownership information, supporting documentation, and overall transaction activity helps MSBs make informed decisions while reducing operational and compliance risk.
Strong due diligence is not about assuming every new business is fraudulent. It is about asking the right questions when something does not appear consistent with the overall transaction.
Fraudsters continue to refine their tactics, making scams more convincing than ever. Professional websites, polished marketing materials, and valid payment instruments should never replace thoughtful review and sound judgment.
By combining established due diligence procedures with a careful evaluation of the entire transaction, MSBs can better identify emerging fraud trends and help protect both their business and their customers.
As Surety Bank celebrates 100 years of community banking, one thing has remained constant throughout every decade: our commitment to people.
For Alexandra Wells, VP BSA Officer, that commitment is what makes community banking different.
After spending more than 20 years in the legal field, Alexandra joined Surety Bank in 2019, bringing together her legal experience and newly earned accounting degree to help protect customers from fraud, financial crimes, and suspicious activity. Since then, she has advanced through the Bank Secrecy Act department while helping strengthen Surety's commitment to customer protection. But for Alexandra, the work is about far more than regulations and risk management.
"It's about people," she says.
That philosophy became especially clear when an elderly customer began exhibiting unusual banking activity.
The customer, who had recently lost her husband and hired a caretaker, suddenly began cashing checks and making transactions that were completely out of character. Surety Bank's frontline staff noticed the changes immediately. Because they knew the customer and understood her normal banking habits, they recognized that something wasn't right.
The situation was escalated to Alexandra for further review.
After analyzing the account activity, Alexandra and another Surety employee visited the customer at her home. During the visit, several warning signs became apparent. The caretaker repeatedly answered questions on the customer's behalf, and purchases were being made that didn't align with the customer's typical behavior.
Further investigation revealed that the caretaker had gained access to the customer's debit card and was using it for personal purchases, including online shopping and vehicle rentals.
By acting quickly, Surety Bank was able to contact the customer's family, stop the unauthorized activity, and help prevent additional financial loss.
"It's one of the advantages of being a community bank," Alexandra explains. "Because we know our customers, we can recognize when something doesn't seem right and take action."
Stories like this highlight what has set Surety Bank apart for the past century. While technology and banking services continue to evolve, the foundation of community banking remains the same: relationships.
For Alexandra, those relationships extend beyond customers and into the workplace as well.
"At Surety Bank, you're not just a number," she says. "You're a person. We know each other by name, and we genuinely care about one another."
That culture of caring is reflected throughout the organization, from employees supporting one another through life's challenges to teams working together to serve customers with a personal touch.
As Surety Bank enters its second century, Alexandra believes the values that have guided the Bank for the last 100 years will continue to shape its future.
"We've always cared about our customers and our employees," she says. "That's the culture of Surety Bank, and I believe that's something that will continue for another century to come."
After 100 years, it's still how we've always done it: putting people first.
Personal fraud continues to evolve, and scammers are finding increasingly sophisticated ways to target consumers. From AI-powered messages that appear surprisingly convincing to attempts to gain access to entire financial accounts. Recognizing the warning signs is becoming more important than ever.
While you can't prevent every fraud attempt, knowing what to watch for and taking a few proactive steps can make it much harder for scammers to succeed.
Artificial intelligence is making fraudulent calls and text messages feel more personal and legitimate. Scammers can use AI to create convincing communications designed to make you believe you're interacting with a trusted person or organization.
Be cautious when you receive an unexpected call or message asking for personal information, money, or access to an account. Before responding or taking action, reach out to Surety Bank directly to verify they are the ones calling. This step could mean not being scammed out of your money.
Fraudsters are increasingly looking beyond individual credit card numbers and attempting to gain access to entire financial profiles, including personal bank and investment accounts.
Protect your accounts by regularly reviewing activity for transactions you don't recognize and using multifactor authentication whenever it's available. Never provide your password, login credentials, or verification codes to someone who contacts you unexpectedly.
If you notice something unusual in your Surety Bank account, contact us promptly.
Older adults continue to be frequent targets of financial scams, particularly those involving tech support and investment-related schemes.
These scams often rely on urgency or fear to convince someone to act before they have an opportunity to question what's happening. Talk with older family members about common scams and encourage them to check with someone they trust before sending money or providing sensitive information in response to an unexpected request.
Taking a few minutes to verify a situation can help prevent a significant financial loss.
Protecting yourself doesn't require becoming a fraud expert. Start by being skeptical of unexpected requests for money or information, especially when someone pressures you to act immediately.
Use strong, unique passwords and enable multifactor authentication when available. Avoid clicking links in unexpected emails or text messages, and regularly review your bank accounts and credit reports for activity you don't recognize.
Most importantly, trust your instincts. If something doesn't feel right, stop and verify before taking action.
If you'd like to take additional steps to protect yourself, here are three resources worth exploring:
FTC IdentityTheft.gov
Best for someone who thinks their identity has already been compromised. The FTC provides a personalized recovery plan and steps for addressing identity theft.
Visit IdentityTheft.gov
FTC Credit Freeze & Fraud Alert Guide
Customers can place a free credit freeze, which can prevent identity thieves from opening new credit accounts in their name, or add a fraud alert.
Learn About Credit Freezes & Fraud Alerts
Aura
For those interested in a paid protection service, Aura offers identity and financial monitoring tools and other fraud-protection features. I’d position this as an optional third-party tool, not something Surety is recommending over other services.
Explore Aura
These resources are provided for informational purposes. Surety Bank does not endorse or guarantee any third-party product or service.
Fraud tactics will continue to change, but one of your strongest defenses is also one of the simplest: slow down.
Scammers often depend on creating urgency so you act before thinking. If you're unsure about a request involving your Surety Bank account, don't rely on the phone number, link, or contact information provided in the message. Contact Surety Bank directly through a trusted channel.
We're here to help you protect your financial information and recognize potential fraud before it becomes a loss.
For Maria Bonfiglio, working at Surety Bank has always been about more than banking. It's about taking care of people.
Maria has been part of the Surety Bank family for nine years, but her journey began with a simple text message. A former boss she had stayed in touch with reached out years after they had worked together and told her, "I have the perfect job for you." Maria's response was simple: "Where should I sign?"
Nine years later, her enthusiasm hasn't changed.
"I love it. I love my job."
Over the years, Maria's role has evolved, giving her the opportunity to learn new skills and develop deeper relationships with customers. She has gotten to know some of them so well that she can recognize who is calling just by the sound of their voice. For Maria, those relationships are what make Surety feel less like a workplace and more like a family.
That personal connection also shapes the way Maria approaches protecting customers.
When something doesn't seem right, she isn't afraid to ask questions. Whether she's reviewing a check or helping someone resolve an issue with an account, Maria understands that taking a little extra time can make a significant difference.
"We really care about our customers," Maria explains. Even when customers may wonder why the bank is asking additional questions, she wants them to understand the reason behind it. "We don't want them to lose money."
For Maria, that care isn't limited to customers. She has experienced it personally as an employee.
During some of the most difficult moments of her life, including an extended hospital stay and the loss of her son, Maria remembers her Surety family checking on her, visiting her, and making sure she knew she wasn't alone. Those experiences showed her that the relationships Surety talks about aren't simply something customers experience. They're part of the culture inside the bank, too.
It's also why Maria believes Surety Bank has remained part of the community for 100 years. She has worked at other banks, but says Surety's involvement in the community feels different. The bank isn't trying to be the biggest. Instead, it has remained focused on the people and communities it serves.
That same philosophy comes through in Maria's relationships with her customers. Some have developed such a strong connection with her that when they call, they specifically ask for Maria. She takes pride in being someone they know they can turn to when they have a question or need assistance.
After nine years, Maria still says thank you for the opportunity that brought her to Surety Bank. Her story is a reminder that relationship banking begins with people who genuinely care about the people on the other side of the counter or phone.
This is how Surety Bank has always done it. It's how we will always do it.
For Lewis Long III, banking with Surety Bank is a relationship that has lasted more than five decades.
As one of Surety Bank's longest-standing customers, Lewis has watched the bank grow alongside the community since his connection to Surety began more than 50 years ago. He originally opened a savings account after hearing from neighbors that the bank consistently offered strong value and genuinely cared about its customers.
Over the years, Lewis has seen a lot of change. He remembers making deposits with a passbook while employees manually updated balances using a hand-cranked adding machine. What hasn't changed, however, is the way Surety Bank treats the people who walk through its doors.
For Lewis, that commitment extends beyond his own banking experience. When his sons were born, he opened accounts for each of them at Surety Bank, continuing a family tradition that has now spanned generations. One of his sons even participated in the ribbon-cutting ceremony when Surety Bank dedicated its current building in the early 1990s.
Throughout his life of military service, public service, and community involvement, Lewis has always returned to the same bank.
What has kept him loyal all these years?
The answer is simple: people.
"You couldn't ask for better service or better people," Lewis says. "I don't know how they remember everybody's name that walks in the door, but they do. They're just super folks. The people have always been a gift to us and to the community."
Lewis believes that the values Surety Bank was founded on continue to define the bank today. One story from the bank's early history has always stayed with him. During the Great Depression, he recalls hearing that Surety worked with customers rather than rushing to foreclose on them because they cared more about helping people than taking their property. That philosophy, he says, is still reflected in the way the bank serves its customers today.
It's one of the reasons Lewis has become an advocate for the bank wherever he goes.
Whether he's encouraging friends to open a money market account, sharing the bank's history, or even suggesting a new Surety branch for his hometown of Lake Helen, Lewis proudly recommends the bank he's trusted for more than half a century.
"I wouldn't champion the bank if I didn't believe in these folks and believe in this bank," he says. "Everybody is important. They see past whatever's bothering someone that day and still treat people with kindness and respect."
As Surety Bank celebrates 100 years of serving Central Florida, customers like Lewis remind us that while banking has evolved, some things should never change. Genuine relationships, exceptional service, and a commitment to the community remain at the heart of everything we do.
This is how Surety Bank has always done it. It's how we will always do it.
For 100 years, Surety Bank has believed that community banking means more than serving customers inside the walls of a branch. It means investing in the people, organizations, and partnerships that help our communities thrive.
That commitment is something Carla Quann, Director of Community Relations for the Volusia Sheriff's Office, has experienced firsthand.
"Our goal is to support everyone in our community," Carla explains. "Ryan [James] wanted to be a part of what we're doing because he cares about the community."
The partnership between Surety Bank and the Volusia Sheriff's Office began when Surety Bank President & CEO Ryan James joined the Volusia Sheriff's Foundation Board. Since then, the relationship has grown into a collaborative effort focused on addressing some of the community's greatest needs.
One example came during the holiday season, when thousands of local families faced uncertainty after SNAP benefits were unexpectedly interrupted. Through the combined efforts of businesses, volunteers, and community organizations, more than 3,500 grocery bags were distributed to families throughout Volusia County.
According to Carla, Surety Bank was an important part of making that effort possible.
Beyond community events and charitable initiatives, the partnership has also helped strengthen public safety.
As financial scams targeting older adults became increasingly common, Surety Bank worked alongside the Sheriff's Office to provide education, share industry expertise, and help detectives better recognize the warning signs of fraud.
That collaboration ultimately helped lead to the creation of the Volusia Sheriff's Office Financial Crimes Unit—a dedicated team focused on protecting residents from fraud and financial exploitation.
Working together, those efforts have helped recover more than $2 million for local victims of financial crimes.
For Carla, those results reflect what makes Surety Bank different.
"They're not just another hometown bank," she says. "They care about their community."
She believes that commitment starts with customer service but extends far beyond banking. Whether supporting nonprofit organizations, helping law enforcement address emerging scams, or simply answering the phone when someone needs help, Surety Bank has built relationships rooted in trust.
"People trust them," Carla says. "They've built that trust with their customers, and that's why people stay."
As Surety Bank celebrates a century of serving Central Florida, partnerships like this demonstrate that community banking isn't defined only by financial services—it's measured by the impact a bank has on the people and communities it serves.
For 100 years, Surety Bank has believed that when communities succeed, everyone succeeds. Through partnerships built on trust, service, and shared purpose, that commitment continues today—and will continue for generations to come.
Fraud schemes continue to evolve, and one of the latest trends affecting Money Services Businesses involves contractor-related scams. Unlike traditional check fraud, these transactions often involve legitimate cashier's checks, making them more difficult to identify through normal check verification procedures.
Instead, the focus shifts to evaluating the business behind the transaction and determining whether the overall circumstances make sense.
The scam typically begins when individuals posing as contractors approach homeowners offering services such as roofing, driveway paving, masonry work, foundation repair, or waterproofing.
These businesses often appear completely legitimate. They may have professional websites, branded clothing, business cards, invoices, and positive online reviews. In many cases, the homeowner believes they are hiring a reputable contractor.
After the work is completed, or in some cases while it is underway, the homeowner is instructed to obtain a cashier's check for payment. That check is then presented to an MSB for cashing.
The challenge is that the cashier's check itself is often valid. The fraud lies in the business behind the transaction, not the payment instrument.
Many of these businesses are created solely to facilitate the fraud. They may complete some or all of the work, but the services are often performed by unqualified labor, or left unfinished with no intention of honoring warranties or returning to correct problems.
Because the checks themselves are legitimate, identifying potential risk depends on strong corporate due diligence and careful review of the business presenting the transaction.
One of the most valuable parts of corporate due diligence is looking beyond the paperwork and evaluating whether the overall transaction makes sense.
In many of these cases, the documentation appears complete. The business may have incorporation documents, a professional website, branded materials, and everything expected during a review. On the surface, it looks legitimate.
However, taking a closer look may reveal details that deserve additional attention. For example, a construction company incorporated only days or weeks ago may already be cashing a large cashier's check for a major roofing or foundation project. While each of these facts may be reasonable on its own, together they may warrant additional review.
Consider questions such as:
No single factor indicates fraud, and every transaction should be evaluated on its own merits. However, taking a moment to consider the complete picture can help identify higher-risk transactions before they become larger issues.
This type of fraud reinforces why maintaining thorough corporate due diligence procedures is so important.
Reviewing business registrations, ownership information, supporting documentation, and overall transaction activity helps MSBs make informed decisions while reducing operational and compliance risk.
Strong due diligence is not about assuming every new business is fraudulent. It is about asking the right questions when something does not appear consistent with the overall transaction.
Fraudsters continue to refine their tactics, making scams more convincing than ever. Professional websites, polished marketing materials, and valid payment instruments should never replace thoughtful review and sound judgment.
By combining established due diligence procedures with a careful evaluation of the entire transaction, MSBs can better identify emerging fraud trends and help protect both their business and their customers.
As Surety Bank celebrates 100 years of community banking, one thing has remained constant throughout every decade: our commitment to people.
For Alexandra Wells, VP BSA Officer, that commitment is what makes community banking different.
After spending more than 20 years in the legal field, Alexandra joined Surety Bank in 2019, bringing together her legal experience and newly earned accounting degree to help protect customers from fraud, financial crimes, and suspicious activity. Since then, she has advanced through the Bank Secrecy Act department while helping strengthen Surety's commitment to customer protection. But for Alexandra, the work is about far more than regulations and risk management.
"It's about people," she says.
That philosophy became especially clear when an elderly customer began exhibiting unusual banking activity.
The customer, who had recently lost her husband and hired a caretaker, suddenly began cashing checks and making transactions that were completely out of character. Surety Bank's frontline staff noticed the changes immediately. Because they knew the customer and understood her normal banking habits, they recognized that something wasn't right.
The situation was escalated to Alexandra for further review.
After analyzing the account activity, Alexandra and another Surety employee visited the customer at her home. During the visit, several warning signs became apparent. The caretaker repeatedly answered questions on the customer's behalf, and purchases were being made that didn't align with the customer's typical behavior.
Further investigation revealed that the caretaker had gained access to the customer's debit card and was using it for personal purchases, including online shopping and vehicle rentals.
By acting quickly, Surety Bank was able to contact the customer's family, stop the unauthorized activity, and help prevent additional financial loss.
"It's one of the advantages of being a community bank," Alexandra explains. "Because we know our customers, we can recognize when something doesn't seem right and take action."
Stories like this highlight what has set Surety Bank apart for the past century. While technology and banking services continue to evolve, the foundation of community banking remains the same: relationships.
For Alexandra, those relationships extend beyond customers and into the workplace as well.
"At Surety Bank, you're not just a number," she says. "You're a person. We know each other by name, and we genuinely care about one another."
That culture of caring is reflected throughout the organization, from employees supporting one another through life's challenges to teams working together to serve customers with a personal touch.
As Surety Bank enters its second century, Alexandra believes the values that have guided the Bank for the last 100 years will continue to shape its future.
"We've always cared about our customers and our employees," she says. "That's the culture of Surety Bank, and I believe that's something that will continue for another century to come."
After 100 years, it's still how we've always done it: putting people first.
Personal fraud continues to evolve, and scammers are finding increasingly sophisticated ways to target consumers. From AI-powered messages that appear surprisingly convincing to attempts to gain access to entire financial accounts. Recognizing the warning signs is becoming more important than ever.
While you can't prevent every fraud attempt, knowing what to watch for and taking a few proactive steps can make it much harder for scammers to succeed.
Artificial intelligence is making fraudulent calls and text messages feel more personal and legitimate. Scammers can use AI to create convincing communications designed to make you believe you're interacting with a trusted person or organization.
Be cautious when you receive an unexpected call or message asking for personal information, money, or access to an account. Before responding or taking action, reach out to Surety Bank directly to verify they are the ones calling. This step could mean not being scammed out of your money.
Fraudsters are increasingly looking beyond individual credit card numbers and attempting to gain access to entire financial profiles, including personal bank and investment accounts.
Protect your accounts by regularly reviewing activity for transactions you don't recognize and using multifactor authentication whenever it's available. Never provide your password, login credentials, or verification codes to someone who contacts you unexpectedly.
If you notice something unusual in your Surety Bank account, contact us promptly.
Older adults continue to be frequent targets of financial scams, particularly those involving tech support and investment-related schemes.
These scams often rely on urgency or fear to convince someone to act before they have an opportunity to question what's happening. Talk with older family members about common scams and encourage them to check with someone they trust before sending money or providing sensitive information in response to an unexpected request.
Taking a few minutes to verify a situation can help prevent a significant financial loss.
Protecting yourself doesn't require becoming a fraud expert. Start by being skeptical of unexpected requests for money or information, especially when someone pressures you to act immediately.
Use strong, unique passwords and enable multifactor authentication when available. Avoid clicking links in unexpected emails or text messages, and regularly review your bank accounts and credit reports for activity you don't recognize.
Most importantly, trust your instincts. If something doesn't feel right, stop and verify before taking action.
If you'd like to take additional steps to protect yourself, here are three resources worth exploring:
FTC IdentityTheft.gov
Best for someone who thinks their identity has already been compromised. The FTC provides a personalized recovery plan and steps for addressing identity theft.
Visit IdentityTheft.gov
FTC Credit Freeze & Fraud Alert Guide
Customers can place a free credit freeze, which can prevent identity thieves from opening new credit accounts in their name, or add a fraud alert.
Learn About Credit Freezes & Fraud Alerts
Aura
For those interested in a paid protection service, Aura offers identity and financial monitoring tools and other fraud-protection features. I’d position this as an optional third-party tool, not something Surety is recommending over other services.
Explore Aura
These resources are provided for informational purposes. Surety Bank does not endorse or guarantee any third-party product or service.
Fraud tactics will continue to change, but one of your strongest defenses is also one of the simplest: slow down.
Scammers often depend on creating urgency so you act before thinking. If you're unsure about a request involving your Surety Bank account, don't rely on the phone number, link, or contact information provided in the message. Contact Surety Bank directly through a trusted channel.
We're here to help you protect your financial information and recognize potential fraud before it becomes a loss.
For Maria Bonfiglio, working at Surety Bank has always been about more than banking. It's about taking care of people.
Maria has been part of the Surety Bank family for nine years, but her journey began with a simple text message. A former boss she had stayed in touch with reached out years after they had worked together and told her, "I have the perfect job for you." Maria's response was simple: "Where should I sign?"
Nine years later, her enthusiasm hasn't changed.
"I love it. I love my job."
Over the years, Maria's role has evolved, giving her the opportunity to learn new skills and develop deeper relationships with customers. She has gotten to know some of them so well that she can recognize who is calling just by the sound of their voice. For Maria, those relationships are what make Surety feel less like a workplace and more like a family.
That personal connection also shapes the way Maria approaches protecting customers.
When something doesn't seem right, she isn't afraid to ask questions. Whether she's reviewing a check or helping someone resolve an issue with an account, Maria understands that taking a little extra time can make a significant difference.
"We really care about our customers," Maria explains. Even when customers may wonder why the bank is asking additional questions, she wants them to understand the reason behind it. "We don't want them to lose money."
For Maria, that care isn't limited to customers. She has experienced it personally as an employee.
During some of the most difficult moments of her life, including an extended hospital stay and the loss of her son, Maria remembers her Surety family checking on her, visiting her, and making sure she knew she wasn't alone. Those experiences showed her that the relationships Surety talks about aren't simply something customers experience. They're part of the culture inside the bank, too.
It's also why Maria believes Surety Bank has remained part of the community for 100 years. She has worked at other banks, but says Surety's involvement in the community feels different. The bank isn't trying to be the biggest. Instead, it has remained focused on the people and communities it serves.
That same philosophy comes through in Maria's relationships with her customers. Some have developed such a strong connection with her that when they call, they specifically ask for Maria. She takes pride in being someone they know they can turn to when they have a question or need assistance.
After nine years, Maria still says thank you for the opportunity that brought her to Surety Bank. Her story is a reminder that relationship banking begins with people who genuinely care about the people on the other side of the counter or phone.
This is how Surety Bank has always done it. It's how we will always do it.
For Lewis Long III, banking with Surety Bank is a relationship that has lasted more than five decades.
As one of Surety Bank's longest-standing customers, Lewis has watched the bank grow alongside the community since his connection to Surety began more than 50 years ago. He originally opened a savings account after hearing from neighbors that the bank consistently offered strong value and genuinely cared about its customers.
Over the years, Lewis has seen a lot of change. He remembers making deposits with a passbook while employees manually updated balances using a hand-cranked adding machine. What hasn't changed, however, is the way Surety Bank treats the people who walk through its doors.
For Lewis, that commitment extends beyond his own banking experience. When his sons were born, he opened accounts for each of them at Surety Bank, continuing a family tradition that has now spanned generations. One of his sons even participated in the ribbon-cutting ceremony when Surety Bank dedicated its current building in the early 1990s.
Throughout his life of military service, public service, and community involvement, Lewis has always returned to the same bank.
What has kept him loyal all these years?
The answer is simple: people.
"You couldn't ask for better service or better people," Lewis says. "I don't know how they remember everybody's name that walks in the door, but they do. They're just super folks. The people have always been a gift to us and to the community."
Lewis believes that the values Surety Bank was founded on continue to define the bank today. One story from the bank's early history has always stayed with him. During the Great Depression, he recalls hearing that Surety worked with customers rather than rushing to foreclose on them because they cared more about helping people than taking their property. That philosophy, he says, is still reflected in the way the bank serves its customers today.
It's one of the reasons Lewis has become an advocate for the bank wherever he goes.
Whether he's encouraging friends to open a money market account, sharing the bank's history, or even suggesting a new Surety branch for his hometown of Lake Helen, Lewis proudly recommends the bank he's trusted for more than half a century.
"I wouldn't champion the bank if I didn't believe in these folks and believe in this bank," he says. "Everybody is important. They see past whatever's bothering someone that day and still treat people with kindness and respect."
As Surety Bank celebrates 100 years of serving Central Florida, customers like Lewis remind us that while banking has evolved, some things should never change. Genuine relationships, exceptional service, and a commitment to the community remain at the heart of everything we do.
This is how Surety Bank has always done it. It's how we will always do it.
For 100 years, Surety Bank has believed that community banking means more than serving customers inside the walls of a branch. It means investing in the people, organizations, and partnerships that help our communities thrive.
That commitment is something Carla Quann, Director of Community Relations for the Volusia Sheriff's Office, has experienced firsthand.
"Our goal is to support everyone in our community," Carla explains. "Ryan [James] wanted to be a part of what we're doing because he cares about the community."
The partnership between Surety Bank and the Volusia Sheriff's Office began when Surety Bank President & CEO Ryan James joined the Volusia Sheriff's Foundation Board. Since then, the relationship has grown into a collaborative effort focused on addressing some of the community's greatest needs.
One example came during the holiday season, when thousands of local families faced uncertainty after SNAP benefits were unexpectedly interrupted. Through the combined efforts of businesses, volunteers, and community organizations, more than 3,500 grocery bags were distributed to families throughout Volusia County.
According to Carla, Surety Bank was an important part of making that effort possible.
Beyond community events and charitable initiatives, the partnership has also helped strengthen public safety.
As financial scams targeting older adults became increasingly common, Surety Bank worked alongside the Sheriff's Office to provide education, share industry expertise, and help detectives better recognize the warning signs of fraud.
That collaboration ultimately helped lead to the creation of the Volusia Sheriff's Office Financial Crimes Unit—a dedicated team focused on protecting residents from fraud and financial exploitation.
Working together, those efforts have helped recover more than $2 million for local victims of financial crimes.
For Carla, those results reflect what makes Surety Bank different.
"They're not just another hometown bank," she says. "They care about their community."
She believes that commitment starts with customer service but extends far beyond banking. Whether supporting nonprofit organizations, helping law enforcement address emerging scams, or simply answering the phone when someone needs help, Surety Bank has built relationships rooted in trust.
"People trust them," Carla says. "They've built that trust with their customers, and that's why people stay."
As Surety Bank celebrates a century of serving Central Florida, partnerships like this demonstrate that community banking isn't defined only by financial services—it's measured by the impact a bank has on the people and communities it serves.
For 100 years, Surety Bank has believed that when communities succeed, everyone succeeds. Through partnerships built on trust, service, and shared purpose, that commitment continues today—and will continue for generations to come.
Fraud schemes continue to evolve, and one of the latest trends affecting Money Services Businesses involves contractor-related scams. Unlike traditional check fraud, these transactions often involve legitimate cashier's checks, making them more difficult to identify through normal check verification procedures.
Instead, the focus shifts to evaluating the business behind the transaction and determining whether the overall circumstances make sense.
The scam typically begins when individuals posing as contractors approach homeowners offering services such as roofing, driveway paving, masonry work, foundation repair, or waterproofing.
These businesses often appear completely legitimate. They may have professional websites, branded clothing, business cards, invoices, and positive online reviews. In many cases, the homeowner believes they are hiring a reputable contractor.
After the work is completed, or in some cases while it is underway, the homeowner is instructed to obtain a cashier's check for payment. That check is then presented to an MSB for cashing.
The challenge is that the cashier's check itself is often valid. The fraud lies in the business behind the transaction, not the payment instrument.
Many of these businesses are created solely to facilitate the fraud. They may complete some or all of the work, but the services are often performed by unqualified labor, or left unfinished with no intention of honoring warranties or returning to correct problems.
Because the checks themselves are legitimate, identifying potential risk depends on strong corporate due diligence and careful review of the business presenting the transaction.
One of the most valuable parts of corporate due diligence is looking beyond the paperwork and evaluating whether the overall transaction makes sense.
In many of these cases, the documentation appears complete. The business may have incorporation documents, a professional website, branded materials, and everything expected during a review. On the surface, it looks legitimate.
However, taking a closer look may reveal details that deserve additional attention. For example, a construction company incorporated only days or weeks ago may already be cashing a large cashier's check for a major roofing or foundation project. While each of these facts may be reasonable on its own, together they may warrant additional review.
Consider questions such as:
No single factor indicates fraud, and every transaction should be evaluated on its own merits. However, taking a moment to consider the complete picture can help identify higher-risk transactions before they become larger issues.
This type of fraud reinforces why maintaining thorough corporate due diligence procedures is so important.
Reviewing business registrations, ownership information, supporting documentation, and overall transaction activity helps MSBs make informed decisions while reducing operational and compliance risk.
Strong due diligence is not about assuming every new business is fraudulent. It is about asking the right questions when something does not appear consistent with the overall transaction.
Fraudsters continue to refine their tactics, making scams more convincing than ever. Professional websites, polished marketing materials, and valid payment instruments should never replace thoughtful review and sound judgment.
By combining established due diligence procedures with a careful evaluation of the entire transaction, MSBs can better identify emerging fraud trends and help protect both their business and their customers.
As Surety Bank celebrates 100 years of community banking, one thing has remained constant throughout every decade: our commitment to people.
For Alexandra Wells, VP BSA Officer, that commitment is what makes community banking different.
After spending more than 20 years in the legal field, Alexandra joined Surety Bank in 2019, bringing together her legal experience and newly earned accounting degree to help protect customers from fraud, financial crimes, and suspicious activity. Since then, she has advanced through the Bank Secrecy Act department while helping strengthen Surety's commitment to customer protection. But for Alexandra, the work is about far more than regulations and risk management.
"It's about people," she says.
That philosophy became especially clear when an elderly customer began exhibiting unusual banking activity.
The customer, who had recently lost her husband and hired a caretaker, suddenly began cashing checks and making transactions that were completely out of character. Surety Bank's frontline staff noticed the changes immediately. Because they knew the customer and understood her normal banking habits, they recognized that something wasn't right.
The situation was escalated to Alexandra for further review.
After analyzing the account activity, Alexandra and another Surety employee visited the customer at her home. During the visit, several warning signs became apparent. The caretaker repeatedly answered questions on the customer's behalf, and purchases were being made that didn't align with the customer's typical behavior.
Further investigation revealed that the caretaker had gained access to the customer's debit card and was using it for personal purchases, including online shopping and vehicle rentals.
By acting quickly, Surety Bank was able to contact the customer's family, stop the unauthorized activity, and help prevent additional financial loss.
"It's one of the advantages of being a community bank," Alexandra explains. "Because we know our customers, we can recognize when something doesn't seem right and take action."
Stories like this highlight what has set Surety Bank apart for the past century. While technology and banking services continue to evolve, the foundation of community banking remains the same: relationships.
For Alexandra, those relationships extend beyond customers and into the workplace as well.
"At Surety Bank, you're not just a number," she says. "You're a person. We know each other by name, and we genuinely care about one another."
That culture of caring is reflected throughout the organization, from employees supporting one another through life's challenges to teams working together to serve customers with a personal touch.
As Surety Bank enters its second century, Alexandra believes the values that have guided the Bank for the last 100 years will continue to shape its future.
"We've always cared about our customers and our employees," she says. "That's the culture of Surety Bank, and I believe that's something that will continue for another century to come."
After 100 years, it's still how we've always done it: putting people first.
Personal fraud continues to evolve, and scammers are finding increasingly sophisticated ways to target consumers. From AI-powered messages that appear surprisingly convincing to attempts to gain access to entire financial accounts. Recognizing the warning signs is becoming more important than ever.
While you can't prevent every fraud attempt, knowing what to watch for and taking a few proactive steps can make it much harder for scammers to succeed.
Artificial intelligence is making fraudulent calls and text messages feel more personal and legitimate. Scammers can use AI to create convincing communications designed to make you believe you're interacting with a trusted person or organization.
Be cautious when you receive an unexpected call or message asking for personal information, money, or access to an account. Before responding or taking action, reach out to Surety Bank directly to verify they are the ones calling. This step could mean not being scammed out of your money.
Fraudsters are increasingly looking beyond individual credit card numbers and attempting to gain access to entire financial profiles, including personal bank and investment accounts.
Protect your accounts by regularly reviewing activity for transactions you don't recognize and using multifactor authentication whenever it's available. Never provide your password, login credentials, or verification codes to someone who contacts you unexpectedly.
If you notice something unusual in your Surety Bank account, contact us promptly.
Older adults continue to be frequent targets of financial scams, particularly those involving tech support and investment-related schemes.
These scams often rely on urgency or fear to convince someone to act before they have an opportunity to question what's happening. Talk with older family members about common scams and encourage them to check with someone they trust before sending money or providing sensitive information in response to an unexpected request.
Taking a few minutes to verify a situation can help prevent a significant financial loss.
Protecting yourself doesn't require becoming a fraud expert. Start by being skeptical of unexpected requests for money or information, especially when someone pressures you to act immediately.
Use strong, unique passwords and enable multifactor authentication when available. Avoid clicking links in unexpected emails or text messages, and regularly review your bank accounts and credit reports for activity you don't recognize.
Most importantly, trust your instincts. If something doesn't feel right, stop and verify before taking action.
If you'd like to take additional steps to protect yourself, here are three resources worth exploring:
FTC IdentityTheft.gov
Best for someone who thinks their identity has already been compromised. The FTC provides a personalized recovery plan and steps for addressing identity theft.
Visit IdentityTheft.gov
FTC Credit Freeze & Fraud Alert Guide
Customers can place a free credit freeze, which can prevent identity thieves from opening new credit accounts in their name, or add a fraud alert.
Learn About Credit Freezes & Fraud Alerts
Aura
For those interested in a paid protection service, Aura offers identity and financial monitoring tools and other fraud-protection features. I’d position this as an optional third-party tool, not something Surety is recommending over other services.
Explore Aura
These resources are provided for informational purposes. Surety Bank does not endorse or guarantee any third-party product or service.
Fraud tactics will continue to change, but one of your strongest defenses is also one of the simplest: slow down.
Scammers often depend on creating urgency so you act before thinking. If you're unsure about a request involving your Surety Bank account, don't rely on the phone number, link, or contact information provided in the message. Contact Surety Bank directly through a trusted channel.
We're here to help you protect your financial information and recognize potential fraud before it becomes a loss.
For Maria Bonfiglio, working at Surety Bank has always been about more than banking. It's about taking care of people.
Maria has been part of the Surety Bank family for nine years, but her journey began with a simple text message. A former boss she had stayed in touch with reached out years after they had worked together and told her, "I have the perfect job for you." Maria's response was simple: "Where should I sign?"
Nine years later, her enthusiasm hasn't changed.
"I love it. I love my job."
Over the years, Maria's role has evolved, giving her the opportunity to learn new skills and develop deeper relationships with customers. She has gotten to know some of them so well that she can recognize who is calling just by the sound of their voice. For Maria, those relationships are what make Surety feel less like a workplace and more like a family.
That personal connection also shapes the way Maria approaches protecting customers.
When something doesn't seem right, she isn't afraid to ask questions. Whether she's reviewing a check or helping someone resolve an issue with an account, Maria understands that taking a little extra time can make a significant difference.
"We really care about our customers," Maria explains. Even when customers may wonder why the bank is asking additional questions, she wants them to understand the reason behind it. "We don't want them to lose money."
For Maria, that care isn't limited to customers. She has experienced it personally as an employee.
During some of the most difficult moments of her life, including an extended hospital stay and the loss of her son, Maria remembers her Surety family checking on her, visiting her, and making sure she knew she wasn't alone. Those experiences showed her that the relationships Surety talks about aren't simply something customers experience. They're part of the culture inside the bank, too.
It's also why Maria believes Surety Bank has remained part of the community for 100 years. She has worked at other banks, but says Surety's involvement in the community feels different. The bank isn't trying to be the biggest. Instead, it has remained focused on the people and communities it serves.
That same philosophy comes through in Maria's relationships with her customers. Some have developed such a strong connection with her that when they call, they specifically ask for Maria. She takes pride in being someone they know they can turn to when they have a question or need assistance.
After nine years, Maria still says thank you for the opportunity that brought her to Surety Bank. Her story is a reminder that relationship banking begins with people who genuinely care about the people on the other side of the counter or phone.
This is how Surety Bank has always done it. It's how we will always do it.
For Lewis Long III, banking with Surety Bank is a relationship that has lasted more than five decades.
As one of Surety Bank's longest-standing customers, Lewis has watched the bank grow alongside the community since his connection to Surety began more than 50 years ago. He originally opened a savings account after hearing from neighbors that the bank consistently offered strong value and genuinely cared about its customers.
Over the years, Lewis has seen a lot of change. He remembers making deposits with a passbook while employees manually updated balances using a hand-cranked adding machine. What hasn't changed, however, is the way Surety Bank treats the people who walk through its doors.
For Lewis, that commitment extends beyond his own banking experience. When his sons were born, he opened accounts for each of them at Surety Bank, continuing a family tradition that has now spanned generations. One of his sons even participated in the ribbon-cutting ceremony when Surety Bank dedicated its current building in the early 1990s.
Throughout his life of military service, public service, and community involvement, Lewis has always returned to the same bank.
What has kept him loyal all these years?
The answer is simple: people.
"You couldn't ask for better service or better people," Lewis says. "I don't know how they remember everybody's name that walks in the door, but they do. They're just super folks. The people have always been a gift to us and to the community."
Lewis believes that the values Surety Bank was founded on continue to define the bank today. One story from the bank's early history has always stayed with him. During the Great Depression, he recalls hearing that Surety worked with customers rather than rushing to foreclose on them because they cared more about helping people than taking their property. That philosophy, he says, is still reflected in the way the bank serves its customers today.
It's one of the reasons Lewis has become an advocate for the bank wherever he goes.
Whether he's encouraging friends to open a money market account, sharing the bank's history, or even suggesting a new Surety branch for his hometown of Lake Helen, Lewis proudly recommends the bank he's trusted for more than half a century.
"I wouldn't champion the bank if I didn't believe in these folks and believe in this bank," he says. "Everybody is important. They see past whatever's bothering someone that day and still treat people with kindness and respect."
As Surety Bank celebrates 100 years of serving Central Florida, customers like Lewis remind us that while banking has evolved, some things should never change. Genuine relationships, exceptional service, and a commitment to the community remain at the heart of everything we do.
This is how Surety Bank has always done it. It's how we will always do it.
For 100 years, Surety Bank has believed that community banking means more than serving customers inside the walls of a branch. It means investing in the people, organizations, and partnerships that help our communities thrive.
That commitment is something Carla Quann, Director of Community Relations for the Volusia Sheriff's Office, has experienced firsthand.
"Our goal is to support everyone in our community," Carla explains. "Ryan [James] wanted to be a part of what we're doing because he cares about the community."
The partnership between Surety Bank and the Volusia Sheriff's Office began when Surety Bank President & CEO Ryan James joined the Volusia Sheriff's Foundation Board. Since then, the relationship has grown into a collaborative effort focused on addressing some of the community's greatest needs.
One example came during the holiday season, when thousands of local families faced uncertainty after SNAP benefits were unexpectedly interrupted. Through the combined efforts of businesses, volunteers, and community organizations, more than 3,500 grocery bags were distributed to families throughout Volusia County.
According to Carla, Surety Bank was an important part of making that effort possible.
Beyond community events and charitable initiatives, the partnership has also helped strengthen public safety.
As financial scams targeting older adults became increasingly common, Surety Bank worked alongside the Sheriff's Office to provide education, share industry expertise, and help detectives better recognize the warning signs of fraud.
That collaboration ultimately helped lead to the creation of the Volusia Sheriff's Office Financial Crimes Unit—a dedicated team focused on protecting residents from fraud and financial exploitation.
Working together, those efforts have helped recover more than $2 million for local victims of financial crimes.
For Carla, those results reflect what makes Surety Bank different.
"They're not just another hometown bank," she says. "They care about their community."
She believes that commitment starts with customer service but extends far beyond banking. Whether supporting nonprofit organizations, helping law enforcement address emerging scams, or simply answering the phone when someone needs help, Surety Bank has built relationships rooted in trust.
"People trust them," Carla says. "They've built that trust with their customers, and that's why people stay."
As Surety Bank celebrates a century of serving Central Florida, partnerships like this demonstrate that community banking isn't defined only by financial services—it's measured by the impact a bank has on the people and communities it serves.
For 100 years, Surety Bank has believed that when communities succeed, everyone succeeds. Through partnerships built on trust, service, and shared purpose, that commitment continues today—and will continue for generations to come.
Fraud schemes continue to evolve, and one of the latest trends affecting Money Services Businesses involves contractor-related scams. Unlike traditional check fraud, these transactions often involve legitimate cashier's checks, making them more difficult to identify through normal check verification procedures.
Instead, the focus shifts to evaluating the business behind the transaction and determining whether the overall circumstances make sense.
The scam typically begins when individuals posing as contractors approach homeowners offering services such as roofing, driveway paving, masonry work, foundation repair, or waterproofing.
These businesses often appear completely legitimate. They may have professional websites, branded clothing, business cards, invoices, and positive online reviews. In many cases, the homeowner believes they are hiring a reputable contractor.
After the work is completed, or in some cases while it is underway, the homeowner is instructed to obtain a cashier's check for payment. That check is then presented to an MSB for cashing.
The challenge is that the cashier's check itself is often valid. The fraud lies in the business behind the transaction, not the payment instrument.
Many of these businesses are created solely to facilitate the fraud. They may complete some or all of the work, but the services are often performed by unqualified labor, or left unfinished with no intention of honoring warranties or returning to correct problems.
Because the checks themselves are legitimate, identifying potential risk depends on strong corporate due diligence and careful review of the business presenting the transaction.
One of the most valuable parts of corporate due diligence is looking beyond the paperwork and evaluating whether the overall transaction makes sense.
In many of these cases, the documentation appears complete. The business may have incorporation documents, a professional website, branded materials, and everything expected during a review. On the surface, it looks legitimate.
However, taking a closer look may reveal details that deserve additional attention. For example, a construction company incorporated only days or weeks ago may already be cashing a large cashier's check for a major roofing or foundation project. While each of these facts may be reasonable on its own, together they may warrant additional review.
Consider questions such as:
No single factor indicates fraud, and every transaction should be evaluated on its own merits. However, taking a moment to consider the complete picture can help identify higher-risk transactions before they become larger issues.
This type of fraud reinforces why maintaining thorough corporate due diligence procedures is so important.
Reviewing business registrations, ownership information, supporting documentation, and overall transaction activity helps MSBs make informed decisions while reducing operational and compliance risk.
Strong due diligence is not about assuming every new business is fraudulent. It is about asking the right questions when something does not appear consistent with the overall transaction.
Fraudsters continue to refine their tactics, making scams more convincing than ever. Professional websites, polished marketing materials, and valid payment instruments should never replace thoughtful review and sound judgment.
By combining established due diligence procedures with a careful evaluation of the entire transaction, MSBs can better identify emerging fraud trends and help protect both their business and their customers.
As Surety Bank celebrates 100 years of community banking, one thing has remained constant throughout every decade: our commitment to people.
For Alexandra Wells, VP BSA Officer, that commitment is what makes community banking different.
After spending more than 20 years in the legal field, Alexandra joined Surety Bank in 2019, bringing together her legal experience and newly earned accounting degree to help protect customers from fraud, financial crimes, and suspicious activity. Since then, she has advanced through the Bank Secrecy Act department while helping strengthen Surety's commitment to customer protection. But for Alexandra, the work is about far more than regulations and risk management.
"It's about people," she says.
That philosophy became especially clear when an elderly customer began exhibiting unusual banking activity.
The customer, who had recently lost her husband and hired a caretaker, suddenly began cashing checks and making transactions that were completely out of character. Surety Bank's frontline staff noticed the changes immediately. Because they knew the customer and understood her normal banking habits, they recognized that something wasn't right.
The situation was escalated to Alexandra for further review.
After analyzing the account activity, Alexandra and another Surety employee visited the customer at her home. During the visit, several warning signs became apparent. The caretaker repeatedly answered questions on the customer's behalf, and purchases were being made that didn't align with the customer's typical behavior.
Further investigation revealed that the caretaker had gained access to the customer's debit card and was using it for personal purchases, including online shopping and vehicle rentals.
By acting quickly, Surety Bank was able to contact the customer's family, stop the unauthorized activity, and help prevent additional financial loss.
"It's one of the advantages of being a community bank," Alexandra explains. "Because we know our customers, we can recognize when something doesn't seem right and take action."
Stories like this highlight what has set Surety Bank apart for the past century. While technology and banking services continue to evolve, the foundation of community banking remains the same: relationships.
For Alexandra, those relationships extend beyond customers and into the workplace as well.
"At Surety Bank, you're not just a number," she says. "You're a person. We know each other by name, and we genuinely care about one another."
That culture of caring is reflected throughout the organization, from employees supporting one another through life's challenges to teams working together to serve customers with a personal touch.
As Surety Bank enters its second century, Alexandra believes the values that have guided the Bank for the last 100 years will continue to shape its future.
"We've always cared about our customers and our employees," she says. "That's the culture of Surety Bank, and I believe that's something that will continue for another century to come."
After 100 years, it's still how we've always done it: putting people first.
Personal fraud continues to evolve, and scammers are finding increasingly sophisticated ways to target consumers. From AI-powered messages that appear surprisingly convincing to attempts to gain access to entire financial accounts. Recognizing the warning signs is becoming more important than ever.
While you can't prevent every fraud attempt, knowing what to watch for and taking a few proactive steps can make it much harder for scammers to succeed.
Artificial intelligence is making fraudulent calls and text messages feel more personal and legitimate. Scammers can use AI to create convincing communications designed to make you believe you're interacting with a trusted person or organization.
Be cautious when you receive an unexpected call or message asking for personal information, money, or access to an account. Before responding or taking action, reach out to Surety Bank directly to verify they are the ones calling. This step could mean not being scammed out of your money.
Fraudsters are increasingly looking beyond individual credit card numbers and attempting to gain access to entire financial profiles, including personal bank and investment accounts.
Protect your accounts by regularly reviewing activity for transactions you don't recognize and using multifactor authentication whenever it's available. Never provide your password, login credentials, or verification codes to someone who contacts you unexpectedly.
If you notice something unusual in your Surety Bank account, contact us promptly.
Older adults continue to be frequent targets of financial scams, particularly those involving tech support and investment-related schemes.
These scams often rely on urgency or fear to convince someone to act before they have an opportunity to question what's happening. Talk with older family members about common scams and encourage them to check with someone they trust before sending money or providing sensitive information in response to an unexpected request.
Taking a few minutes to verify a situation can help prevent a significant financial loss.
Protecting yourself doesn't require becoming a fraud expert. Start by being skeptical of unexpected requests for money or information, especially when someone pressures you to act immediately.
Use strong, unique passwords and enable multifactor authentication when available. Avoid clicking links in unexpected emails or text messages, and regularly review your bank accounts and credit reports for activity you don't recognize.
Most importantly, trust your instincts. If something doesn't feel right, stop and verify before taking action.
If you'd like to take additional steps to protect yourself, here are three resources worth exploring:
FTC IdentityTheft.gov
Best for someone who thinks their identity has already been compromised. The FTC provides a personalized recovery plan and steps for addressing identity theft.
Visit IdentityTheft.gov
FTC Credit Freeze & Fraud Alert Guide
Customers can place a free credit freeze, which can prevent identity thieves from opening new credit accounts in their name, or add a fraud alert.
Learn About Credit Freezes & Fraud Alerts
Aura
For those interested in a paid protection service, Aura offers identity and financial monitoring tools and other fraud-protection features. I’d position this as an optional third-party tool, not something Surety is recommending over other services.
Explore Aura
These resources are provided for informational purposes. Surety Bank does not endorse or guarantee any third-party product or service.
Fraud tactics will continue to change, but one of your strongest defenses is also one of the simplest: slow down.
Scammers often depend on creating urgency so you act before thinking. If you're unsure about a request involving your Surety Bank account, don't rely on the phone number, link, or contact information provided in the message. Contact Surety Bank directly through a trusted channel.
We're here to help you protect your financial information and recognize potential fraud before it becomes a loss.
For Maria Bonfiglio, working at Surety Bank has always been about more than banking. It's about taking care of people.
Maria has been part of the Surety Bank family for nine years, but her journey began with a simple text message. A former boss she had stayed in touch with reached out years after they had worked together and told her, "I have the perfect job for you." Maria's response was simple: "Where should I sign?"
Nine years later, her enthusiasm hasn't changed.
"I love it. I love my job."
Over the years, Maria's role has evolved, giving her the opportunity to learn new skills and develop deeper relationships with customers. She has gotten to know some of them so well that she can recognize who is calling just by the sound of their voice. For Maria, those relationships are what make Surety feel less like a workplace and more like a family.
That personal connection also shapes the way Maria approaches protecting customers.
When something doesn't seem right, she isn't afraid to ask questions. Whether she's reviewing a check or helping someone resolve an issue with an account, Maria understands that taking a little extra time can make a significant difference.
"We really care about our customers," Maria explains. Even when customers may wonder why the bank is asking additional questions, she wants them to understand the reason behind it. "We don't want them to lose money."
For Maria, that care isn't limited to customers. She has experienced it personally as an employee.
During some of the most difficult moments of her life, including an extended hospital stay and the loss of her son, Maria remembers her Surety family checking on her, visiting her, and making sure she knew she wasn't alone. Those experiences showed her that the relationships Surety talks about aren't simply something customers experience. They're part of the culture inside the bank, too.
It's also why Maria believes Surety Bank has remained part of the community for 100 years. She has worked at other banks, but says Surety's involvement in the community feels different. The bank isn't trying to be the biggest. Instead, it has remained focused on the people and communities it serves.
That same philosophy comes through in Maria's relationships with her customers. Some have developed such a strong connection with her that when they call, they specifically ask for Maria. She takes pride in being someone they know they can turn to when they have a question or need assistance.
After nine years, Maria still says thank you for the opportunity that brought her to Surety Bank. Her story is a reminder that relationship banking begins with people who genuinely care about the people on the other side of the counter or phone.
This is how Surety Bank has always done it. It's how we will always do it.
For Lewis Long III, banking with Surety Bank is a relationship that has lasted more than five decades.
As one of Surety Bank's longest-standing customers, Lewis has watched the bank grow alongside the community since his connection to Surety began more than 50 years ago. He originally opened a savings account after hearing from neighbors that the bank consistently offered strong value and genuinely cared about its customers.
Over the years, Lewis has seen a lot of change. He remembers making deposits with a passbook while employees manually updated balances using a hand-cranked adding machine. What hasn't changed, however, is the way Surety Bank treats the people who walk through its doors.
For Lewis, that commitment extends beyond his own banking experience. When his sons were born, he opened accounts for each of them at Surety Bank, continuing a family tradition that has now spanned generations. One of his sons even participated in the ribbon-cutting ceremony when Surety Bank dedicated its current building in the early 1990s.
Throughout his life of military service, public service, and community involvement, Lewis has always returned to the same bank.
What has kept him loyal all these years?
The answer is simple: people.
"You couldn't ask for better service or better people," Lewis says. "I don't know how they remember everybody's name that walks in the door, but they do. They're just super folks. The people have always been a gift to us and to the community."
Lewis believes that the values Surety Bank was founded on continue to define the bank today. One story from the bank's early history has always stayed with him. During the Great Depression, he recalls hearing that Surety worked with customers rather than rushing to foreclose on them because they cared more about helping people than taking their property. That philosophy, he says, is still reflected in the way the bank serves its customers today.
It's one of the reasons Lewis has become an advocate for the bank wherever he goes.
Whether he's encouraging friends to open a money market account, sharing the bank's history, or even suggesting a new Surety branch for his hometown of Lake Helen, Lewis proudly recommends the bank he's trusted for more than half a century.
"I wouldn't champion the bank if I didn't believe in these folks and believe in this bank," he says. "Everybody is important. They see past whatever's bothering someone that day and still treat people with kindness and respect."
As Surety Bank celebrates 100 years of serving Central Florida, customers like Lewis remind us that while banking has evolved, some things should never change. Genuine relationships, exceptional service, and a commitment to the community remain at the heart of everything we do.
This is how Surety Bank has always done it. It's how we will always do it.
For 100 years, Surety Bank has believed that community banking means more than serving customers inside the walls of a branch. It means investing in the people, organizations, and partnerships that help our communities thrive.
That commitment is something Carla Quann, Director of Community Relations for the Volusia Sheriff's Office, has experienced firsthand.
"Our goal is to support everyone in our community," Carla explains. "Ryan [James] wanted to be a part of what we're doing because he cares about the community."
The partnership between Surety Bank and the Volusia Sheriff's Office began when Surety Bank President & CEO Ryan James joined the Volusia Sheriff's Foundation Board. Since then, the relationship has grown into a collaborative effort focused on addressing some of the community's greatest needs.
One example came during the holiday season, when thousands of local families faced uncertainty after SNAP benefits were unexpectedly interrupted. Through the combined efforts of businesses, volunteers, and community organizations, more than 3,500 grocery bags were distributed to families throughout Volusia County.
According to Carla, Surety Bank was an important part of making that effort possible.
Beyond community events and charitable initiatives, the partnership has also helped strengthen public safety.
As financial scams targeting older adults became increasingly common, Surety Bank worked alongside the Sheriff's Office to provide education, share industry expertise, and help detectives better recognize the warning signs of fraud.
That collaboration ultimately helped lead to the creation of the Volusia Sheriff's Office Financial Crimes Unit—a dedicated team focused on protecting residents from fraud and financial exploitation.
Working together, those efforts have helped recover more than $2 million for local victims of financial crimes.
For Carla, those results reflect what makes Surety Bank different.
"They're not just another hometown bank," she says. "They care about their community."
She believes that commitment starts with customer service but extends far beyond banking. Whether supporting nonprofit organizations, helping law enforcement address emerging scams, or simply answering the phone when someone needs help, Surety Bank has built relationships rooted in trust.
"People trust them," Carla says. "They've built that trust with their customers, and that's why people stay."
As Surety Bank celebrates a century of serving Central Florida, partnerships like this demonstrate that community banking isn't defined only by financial services—it's measured by the impact a bank has on the people and communities it serves.
For 100 years, Surety Bank has believed that when communities succeed, everyone succeeds. Through partnerships built on trust, service, and shared purpose, that commitment continues today—and will continue for generations to come.
Fraud schemes continue to evolve, and one of the latest trends affecting Money Services Businesses involves contractor-related scams. Unlike traditional check fraud, these transactions often involve legitimate cashier's checks, making them more difficult to identify through normal check verification procedures.
Instead, the focus shifts to evaluating the business behind the transaction and determining whether the overall circumstances make sense.
The scam typically begins when individuals posing as contractors approach homeowners offering services such as roofing, driveway paving, masonry work, foundation repair, or waterproofing.
These businesses often appear completely legitimate. They may have professional websites, branded clothing, business cards, invoices, and positive online reviews. In many cases, the homeowner believes they are hiring a reputable contractor.
After the work is completed, or in some cases while it is underway, the homeowner is instructed to obtain a cashier's check for payment. That check is then presented to an MSB for cashing.
The challenge is that the cashier's check itself is often valid. The fraud lies in the business behind the transaction, not the payment instrument.
Many of these businesses are created solely to facilitate the fraud. They may complete some or all of the work, but the services are often performed by unqualified labor, or left unfinished with no intention of honoring warranties or returning to correct problems.
Because the checks themselves are legitimate, identifying potential risk depends on strong corporate due diligence and careful review of the business presenting the transaction.
One of the most valuable parts of corporate due diligence is looking beyond the paperwork and evaluating whether the overall transaction makes sense.
In many of these cases, the documentation appears complete. The business may have incorporation documents, a professional website, branded materials, and everything expected during a review. On the surface, it looks legitimate.
However, taking a closer look may reveal details that deserve additional attention. For example, a construction company incorporated only days or weeks ago may already be cashing a large cashier's check for a major roofing or foundation project. While each of these facts may be reasonable on its own, together they may warrant additional review.
Consider questions such as:
No single factor indicates fraud, and every transaction should be evaluated on its own merits. However, taking a moment to consider the complete picture can help identify higher-risk transactions before they become larger issues.
This type of fraud reinforces why maintaining thorough corporate due diligence procedures is so important.
Reviewing business registrations, ownership information, supporting documentation, and overall transaction activity helps MSBs make informed decisions while reducing operational and compliance risk.
Strong due diligence is not about assuming every new business is fraudulent. It is about asking the right questions when something does not appear consistent with the overall transaction.
Fraudsters continue to refine their tactics, making scams more convincing than ever. Professional websites, polished marketing materials, and valid payment instruments should never replace thoughtful review and sound judgment.
By combining established due diligence procedures with a careful evaluation of the entire transaction, MSBs can better identify emerging fraud trends and help protect both their business and their customers.
As Surety Bank celebrates 100 years of community banking, one thing has remained constant throughout every decade: our commitment to people.
For Alexandra Wells, VP BSA Officer, that commitment is what makes community banking different.
After spending more than 20 years in the legal field, Alexandra joined Surety Bank in 2019, bringing together her legal experience and newly earned accounting degree to help protect customers from fraud, financial crimes, and suspicious activity. Since then, she has advanced through the Bank Secrecy Act department while helping strengthen Surety's commitment to customer protection. But for Alexandra, the work is about far more than regulations and risk management.
"It's about people," she says.
That philosophy became especially clear when an elderly customer began exhibiting unusual banking activity.
The customer, who had recently lost her husband and hired a caretaker, suddenly began cashing checks and making transactions that were completely out of character. Surety Bank's frontline staff noticed the changes immediately. Because they knew the customer and understood her normal banking habits, they recognized that something wasn't right.
The situation was escalated to Alexandra for further review.
After analyzing the account activity, Alexandra and another Surety employee visited the customer at her home. During the visit, several warning signs became apparent. The caretaker repeatedly answered questions on the customer's behalf, and purchases were being made that didn't align with the customer's typical behavior.
Further investigation revealed that the caretaker had gained access to the customer's debit card and was using it for personal purchases, including online shopping and vehicle rentals.
By acting quickly, Surety Bank was able to contact the customer's family, stop the unauthorized activity, and help prevent additional financial loss.
"It's one of the advantages of being a community bank," Alexandra explains. "Because we know our customers, we can recognize when something doesn't seem right and take action."
Stories like this highlight what has set Surety Bank apart for the past century. While technology and banking services continue to evolve, the foundation of community banking remains the same: relationships.
For Alexandra, those relationships extend beyond customers and into the workplace as well.
"At Surety Bank, you're not just a number," she says. "You're a person. We know each other by name, and we genuinely care about one another."
That culture of caring is reflected throughout the organization, from employees supporting one another through life's challenges to teams working together to serve customers with a personal touch.
As Surety Bank enters its second century, Alexandra believes the values that have guided the Bank for the last 100 years will continue to shape its future.
"We've always cared about our customers and our employees," she says. "That's the culture of Surety Bank, and I believe that's something that will continue for another century to come."
After 100 years, it's still how we've always done it: putting people first.
When it comes to Money Service Businesses (MSBs), so much of the relationship between the bank and the customer happens behind the scenes through emails, phone calls, documents, and reviews. But sometimes, the most valuable conversations happen face to face.
Recently, Surety Bank conducted a series of on-site visits with MSB customers across Florida. In just two days, our team visited 12 businesses meeting owners where they operate, seeing workflows in real time, and having honest, productive conversations about compliance, fraud prevention, and growth.
The takeaway was clear: on-site visits create clarity, trust, and better outcomes for everyone involved.
From the bank’s side, we review transactions, reports, and data. But that only tells part of the story. Visiting MSBs in person allows us to see how your business actually operates, how customers flow through your store, how decisions are made, and what challenges you face day to day.
For many MSBs, this was the first time they were able to put a face to a name they usually only see in emails or hear on the phone. That alone made a difference. Customers were able to ask questions, share concerns, and better understand why certain compliance requirements exist, not just that they exist.
Site visits also help uncover small issues that can cause big delays later.
During one visit, a customer believed their corporate files were fully up to date. A quick spot check showed otherwise: expired corporate resolutions, missing documentation, and records that hadn’t been refreshed annually as required by Surety Bank policy.
That conversation mattered. Without those documents:
● Checks could be delayed or placed on hold
● Approvals could be paused
● Cash flow could be impacted
Addressing these gaps during a site visit helps MSBs avoid last-minute scrambles, rejected transactions, and unnecessary frustration.
Another consistent theme during site visits was fraud. MSBs are very aware that they are vulnerable and site visits give us the opportunity to talk through practical, preventative steps.
From understanding why certain customers are blocked, to recognizing patterns of suspicious activity, these conversations help MSBs make better decisions before a check is cashed rather than dealing with losses afterward.
Based on the success of these visits, Surety Bank will be conducting more on-site visits starting in the new year. While we can’t visit every MSB at once, we are prioritizing visits based on risk assessments and geographic proximity.
These visits are not audits. They are not meant to tell you how to run your business.
They are meant to:
● Build stronger relationships
● Provide clarity around compliance expectations
● Identify issues early
● Support MSBs with real, practical guidance
Most importantly, they reinforce one thing: we’re here, we’re accessible, and we care about your success.
If you would like to request a site visit or learn more about what to expect, we encourage you to reach out and our team will follow up to discuss next steps.
Email: msb@surety.bank
At Surety Bank, we believe strong partnerships are built through communication, transparency, and mutual understanding. On-site visits help bridge the gap between policy and practice and we look forward to continuing these conversations in person throughout the year ahead.
For many Money Service Businesses (MSBs), a point-of-sale (POS) check-cashing system is required in order to bank with Surety. Larger MSBs generally use these systems as intended but smaller, “mom-and-pop” MSBs often don’t fully understand the capabilities of the software they’re paying for each month.
This gap has created significant issues for MSBs and for our analysts when performing compliance reviews.
The truth is: your POS system is not just a transaction tool. It is a powerful compliance engine. And when it’s used correctly, it protects both your business and the bank.
Every approved vendor on Surety’s list provides a robust set of compliance features. These tools are designed to:
But when MSBs don’t know how to operate the system, or bypass required fields, these features fail, and risk increases.
The transcription captures several recurring issues we see during reviews. Below are the biggest problems and how to fix them.
MSBs must take a clear photo of each customer.
But many stores:
This becomes a problem when analysts need to match customers to suspicious activity.
Fix:
✔ Adjust the camera.
✔ Make sure the customer is actually looking at the lens.
✔ Retake the photo if it's unclear.
When an ID is scanned, the system autofills the address.
But 8 out of 10 profiles contain outdated, inaccurate addresses. This causes major compliance issues when filing CTRs or SARs.
Fix:
✔ Always verbally confirm the customer’s current address.
✔ Update the POS record manually when the ID address is outdated.
Some MSBs never used OFAC checks until Surety required POS systems.
Now they have access to the tool and still forget to use it.
Fix:
✔ Ensure OFAC checks run on every customer, every time.
This is one of the biggest issues.Many MSBs edit the payee section and mistakenly enter:
❌ The name of the person cashing the check (the conductor) instead of:
✔ The name of the entity the check is actually payable to.
This leads to:
Fix:
✔ Always enter the maker and payee correctly. ✔ Never leave fields blank. ✔ Never rely on whatever the system “guesses.”
Your POS system is capable of detecting fraudulent checks before you cash them. But some MSBs override alerts manually, sometimes losing thousands of dollars.
Fix:
✔ Trust the system.
✔ Never override a fraud alert.
✔ Stop the transaction and ask questions.
Most POS vendors offer:
MSBs are strongly encouraged to schedule additional training with their vendor to learn the system fully.
When MSBs use the POS system properly:
If the system is used upfront, risk drops dramatically and compliance becomes smoother for everyone.
Your POS system can only help you if you use it. By taking advantage of the features you’re already paying for, you’ll reduce risk, increase accuracy, and build a stronger compliance foundation for your business.
It’s November, your store is packed, the line at the register is snaking down the aisle and your seasonal staff is doing their best to keep up. You’re watching every sale, every return and every refund, knowing that the next six weeks can make or break your year. With card processing fees climbing, it’s tempting to push customers toward cash and even add a 3% “convenience” or “non-cash adjustment” fee when they tap or swipe a card. After all, there are no fees on cash… right?
The problem is that cash comes with its own price tag, one most retailers don’t see until it’s quietly eaten into their margins.
A study by the Small Business & Entrepreneurship Council found that the real cost of cash can range from 4.7% (grocery) to as high as 15.5% (bars and restaurants) once you factor in labor, handling and shrinkage. That means for every $100 in cash you accept, you might really be keeping only $84.50 to $95.30.
For many retailers, the biggest hidden cost is time:
For example, convenience stores—which operate in a similar high-volume, low-margin environment as many retailers—spend an estimated 15–20 hours per week just counting and handling cash. At an average wage of $14.33 per hour, that’s:
Over a year, that works out to $11,177–$14,903 in labor just to handle cash. During the holidays, when lines are longer and staff is stretched thinner, those hours often go up, not down.
Cash also keeps you in the dark longer than you might realize. With cash-heavy operations, you often don’t know your true daily performance until drawers are counted, deposits are prepared and everything is reconciled—sometimes hours after the store closes. That lag makes it harder to adjust staffing, reorder inventory or tweak promotions while it still matters.
Electronic payments, by contrast, can feed real-time metrics into your point-of-sale and treasury platforms. You can see, often down to the hour, what’s selling, which locations are busiest, which promotions are working and how your cash flow looks heading into the next day. That visibility is especially valuable in the holiday rush, when a fast decision about staffing or inventory can mean the difference between a record weekend and missed opportunities.
On top of labor, cash exposes retailers to risks that electronic payments help reduce:
This is why many banks are rolling out treasury platforms with fraud controls, positive pay, ACH options and remote deposit capture to help business customers move away from “cash management” and toward cash flow management. Framing the conversation around speed, security, real-time information and time savings can be more effective—and more honest—than simply pushing for “more cash.”
Let’s apply real numbers to a typical retail scenario.
Say you own a store and decide to add a 3% convenience fee to card transactions while still accepting cash. Here’s what happens on a $100 ticket:
Card payment with a 3% convenience fee
Cash payment with hidden costs (using the 15.5% example)
So for every $100 transaction, you effectively keep:
That’s a $15.41 difference per $100 ticket in favor of electronic payments.
During the holidays, when your volume spikes, that gap adds up quickly. The season you’ve been counting on to boost profits can quietly turn into the season where hidden cash costs quietly steal them away, one transaction at a time.
If you’d like to talk through how to reduce the hidden costs of cash, improve fraud protection and gain better real-time visibility into your business accounts and merchant processing, contact Surety’s Treasury Services Department to discuss business accounts and merchant accounts with built-in protection.
This is a fictitious story—but it's based on real events that happen to small businesses every single day.
The owner of a thriving local furniture business had just signed the biggest deal of the year. Everything seemed on track until her bookkeeper received an email from a familiar client with “updated wire instructions.” The message looked legitimate. No red flags. So the payment—nearly $50,000—was sent. Two days later, the real client called to say the deposit never arrived. The money was gone. And so was the illusion that something like this “would never happen to us.”
Within a week, long-time customers started asking tough questions. A supplier tightened payment terms. A local partnership quietly backed out of an event. And worse—people started whispering that the business “might not be secure.”
This is how quickly a single fraud incident can unravel years of hard-earned trust.
Even if you recover the stolen funds or file an insurance claim, the damage to your reputation can last far longer—and cut deeper.
Protecting your business starts with building strong internal controls and using the tools your bank offers:
Surety Bank offers many of these solutions through our Treasury team, and we can help tailor them to your specific operations.
Even with great controls, no system is bulletproof. If fraud strikes, your response will determine how much damage your reputation takes—and how quickly you can recover.
In the first 72 hours:
In the weeks that follow:
This fictitious business was lucky—it survived. But the lesson is clear: fraud isn’t just a financial risk, it’s a reputational one. And once trust is broken, it takes time, strategy, and transparency to win it back.
At Surety Bank, we help businesses of all sizes protect their operations from fraud. Whether you need payment controls, alert systems, or a plan for what to do in a crisis, our Treasury & Fraud Prevention Team is here to help.
In the Summer 2025 issue of Building Central Florida Magazine, Surety Bank’s CEO Ryan James maps out a playbook for contractors battling the tariff-driven spikes in steel, aluminum, and other construction staples. James urges firms to replace one-job-at-a-time budgeting with rolling, company-wide cash-flow forecasts; to negotiate for delivery and payment flexibility; to lock in contingency capital before trouble hits; and to embed escalation clauses that keep margins intact—all while maintaining proactive, transparent communication with clients.
Read the full article on page 17:
Building Through the Turbulence – Building Central Florida Magazine
It’s easy to assume that in a digital world, check fraud is a thing of the past. But the reality is quite the opposite. In 2023 alone, check fraud losses in the Americas totaled a staggering $21 billion—representing 80% of all global check fraud cases. Despite a steady decline in the use of checks, fraudsters are doubling down on a still-vulnerable payment channel.
So what happens when a check your business issued ends up in the wrong hands?
Let’s say you wrote a vendor check back in February. Today, that check suddenly clears—but it’s been altered or stolen. What’s your next move? Do you catch it in time? Will your bank reimburse the loss? If you’re like many business owners, you’d expect your bank to take care of it. But depending on the terms in your bank’s Deposit Agreement, you may only have 30 days from the date of your statement to report the fraud and recover those funds. And once that window closes, so may your chances of getting that money back.
At Surety Bank, we want our business clients to know that help exists—and it's called Positive Pay.
Positive Pay is a fraud prevention tool that verifies checks presented for payment against a list of checks you’ve actually issued. If the details don’t match, the bank flags the check and reaches out before funds are released.
It’s like having a security checkpoint for every check your business issues.
Here’s what fraud can really cost your business:
Surety Bank’s Positive Pay solution is designed to reduce those risks before they become losses. Instead of waiting for fraud to strike, it gives business owners a chance to act first.
Most business owners don’t have the luxury of watching every check line item on their bank statement. Positive Pay works in the background—quietly checking, flagging, and helping you intercept fraud before it’s too late.
By offering this service, we’re not just protecting your account—we’re protecting your time, your reputation, and your peace of mind.
Check fraud isn’t going away. But your exposure to it can.
If you’re still issuing paper checks, it’s time to ask yourself: How am I protecting my business from check fraud? At Surety Bank, we’re ready to help you find the answer.
Reach out to our Treasury Management team to learn how Positive Pay can fit into your fraud prevention strategy.
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