How to Accurately Determine Fraud in an E Statement

2 min read

Do you know how to determine fraud in an e-statement? This  is something you need to know how to do. Your company could become a victim of this fraudulent act if a person is off guard. To keep you aware of this phenomenon, you can read more about how to determine fraud in the e-statement below.

Causes of Fraud in E-Statements

The causes of fraud in electronic statements (e-statements) can be broadly categorized into three main categories: human error, technical issues, and intentional fraud.

1. Human Error

Human error can result in fraudulent activity being recorded on a bank statement. Mistakes can happen once in a while. This can occur when a bank employee accidentally inputs the wrong information or when a customer provides incorrect account information. 

It’s important to know that this is one of the leading causes of fraud in e-statements to further train your company’s employees to always be wary of fraudulent activities.

2. Technical Issues

Technical issues can also lead to fraudulent activity on e-statements. For example, a software bug or hacking attempt may result in unauthorized transactions being recorded on a statement. Technical issues can be avoided by regularly maintaining your company’s systems. Don’t forget to implement a strong security measure to keep these fraud from happening.

3. Intentional Fraud

Intentional fraud is when someone deliberately and knowingly engages in fraudulent activity. This can include hacking into an account to steal funds, creating fake e-statements, or using someone else’s account information to make unauthorized transactions.

Regardless of the cause, it’s important to monitor e-statements regularly and report any suspicious activity to the bank as soon as possible. Implementing strong security measures, such as two-factor authentication, can also help prevent fraudulent activity on e-statements.

How to Determine Fraud in an E-Statement?

To determine fraud in bank e-statements, you can follow these steps:

1. Verify the Authenticity of the Statement

Make sure that the statement is from a reputable and trusted source, and that it is not a fake or phishing attempt. Phishing is a type of scam that is sent out via email or text messages claiming to be trustworthy companies or organizations. This fraud can cause users to provide personal information that can be used to commit fraud. 

For this reason, you are required to always be careful when filling in your vital data, such as ATM PINs, passwords, and so on. Because if you are not careful, a hacker may get your data easily.

2. Check for Unusual or Suspicious Transactions

Look for transactions that are out of character for the account, such as large or frequent withdrawals, transfers to unfamiliar accounts, or purchases from unknown merchants. Checking on your transactions regularly can help identify transactions that are not normal or not in accordance with the company’s conditions. This can be done by checking transactions made on unusual days and hours, or by checking transactions made at an unreasonable amount.

3. Review Account Activity Regularly

Regularly reviewing your bank statements can help you detect fraud early on, as unusual activity is easier to spot when you are already familiar with your account activity. This can help determine whether there are irregular activities and if you are prone to e-statement fraud. After determining if there are any hints of fraud, you can take appropriate action to the authorities to resolve the problem.

4. Look for Missing Transactions

Make sure that all transactions that you have made are reflected in your statement. If a transaction is missing, it may have been blocked or cancelled due to suspicious activity. Regular checking of your transactions helps you to investigate the cause of the missing transactions quickly.

5. Report Any Suspicious Activity

If you suspect fraud, it’s important to report it to your bank as soon as possible. Your bank will be able to investigate the matter and take appropriate action to protect your account. This helps to prevent any similar incidents from happening and harm your company in the future.

6. Implement Security Measures

You can also implement security measures such as using strong passwords, enabling two-factor authentication, and monitoring your account activity regularly to help reduce the risk of fraud. Strengthen your security now because this step will help you in the long run.

All of the steps above are important because the people who are in charge of running a business should be vigilant and proactive in detecting fraud, as early detection can prevent significant financial losses.


That is how to determine fraud in an e-statement. Prevent this crime by strengthening your system security so that all of your personal data is protected. Remember to follow the steps above to determine any fraud in your e-statements. It’s recommended  for you to do these checkings from time to time to determine if there is unusual activity within your company.