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Our Bishop Street Branch Has Moved!

Our Bishop Street Branch has reopened in a new space on the ground floor of the Davies Pacific Center at 841 Bishop Street in Downtown Honolulu, moving across the lobby to the former location of Aroma Caffe. The new branch, which opened Tuesday, February 20, 2018, features a redesigned and more efficient use of space and technology that allows us to better serve the needs of our Downtown Honolulu customers and business clients.

Stop by during our open house week from Monday, March 12th to Friday, March 16th to see our new space!

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How To Protect Your Small Business from Financial Fraud

Cyber attacks against small businesses are growing increasingly sophisticated, the American Bankers Association (ABA) reports. Criminals use spoofed emails, malicious software and online social networks to obtain login credentials to businesses’ accounts, transfer funds from the accounts and steal private information, a fraud referred to as “corporate account takeover.”

“Our nation’s small businesses remain in the crosshairs of cybercriminals,” said Frank Keating, president and CEO of the ABA. “A strong partnership with your financial institution is the best way to prevent and protect your business against these attacks.”

To combat this type of fraud, ABA offers small business owners the following advice to help prevent account takeover:

  • Educate your employees. You and your employees are the first line of defense against corporate account takeover. A strong security program paired with employee education about the warning signs, safe practices, and responses to a suspected takeover are essential to protecting your company and customers.
  • Protect your online environment. It is important to protect your cyber environment just as you would your cash and physical location. Do not use unprotected internet connections. Encrypt sensitive data and keep updated virus protections on your computer. Use complex passwords and change them periodically.
  • Partner with your bank to prevent unauthorized transactions. Talk to your banker about programs that safeguard you from unauthorized transactions. Positive Pay and other services offer call backs, device authentication, multi-person approval processes and batch limits help protect you from fraud.
  • Pay attention to suspicious activity and react quickly. Look out for unexplained account or network activity, pop ups, and suspicious emails. If detected, immediately contact your financial institution, stop all online activity and remove any systems that may have been compromised. Keep records of what happened.
  • Understand your responsibilities and liabilities. The account agreement with your bank will detail what commercially reasonable security measures are required in your business. It is critical that you understand and implement the security safeguards in the agreement. If you don’t, you could be liable for losses resulting from a takeover. Talk to your banker if you have any questions about your responsibilities.
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Our Local Expert Answers Your Questions About Loan Options

Hawaii Business Magazine's readers ask our financing expert, Dennis Wong, senior vice president and Oahu regional manager of Hawaii National Bank, about the loan options available to small businesses.

Question:
I'm in the early stages of growing my small business. What are my best loan options if I have limited qualifications for financing?

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Our Local Expert Answers Your Commercial Property Questions

By Dennis Wong, Sr. VP and Oahu Regional Manager, Hawaii National Bank

Q. I’m tired of renting space for my business. Is this a good time to buy a commercial property? If so, how do I get financing and what options are available?

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