Property Management Business

28. Avoid Property Management Banking Fraud with Allison Disarro of Enterprise Bank

Jun 11, 2024

Banking expert Allison Disarro from Enterprise Bank discusses trust accounting, compliance, and fraud prevention for property managers, highlighting risks of incorrect bank setups and benefits of trust accounts. She emphasizes the rise of check fraud, prevention strategies like callback procedures and Positive Pay, and the importance of strong banking relationships in the property management business.

51:05

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Episode guests

Allison Disarro

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Quick takeaways

Understanding trust accounting is essential to prevent fraud in property management banking.

Utilizing third-party accountants familiar with property management software enhances financial management accuracy and compliance.

Implementing fraud prevention tools like Positive Pay can safeguard property managers from check fraud activities.

Deep dives

Importance of Trust Accounts and Compliance

Ensuring proper management of trust accounts and compliance issues is crucial for property managers. Neglecting banking and compliance matters can lead to serious consequences like fraud or trust accounting issues. It is essential to prioritize understanding the intricacies of trust accounting and compliance to prevent financial risks and maintain a secure business operation.

Intro

2min

Managing Property Management Banking Fraud Risks

18min

Utilizing Enterprise Credits and Banking with Enterprise Bank

3min

Rise of Check Fraud in Property Management Banking

5min

Preventing Internal Fraud Through Call Back Procedures

2min

Preventing Property Management Banking Fraud with Positive Pay

17min

Staying Motivated through Ego and Empathy in Sales

2min

Success and Partnership with Enterprise Bank in Property Management Business

3min

Property Management companies are experiencing fraud in many different ways. Allison Disarro from Enterprise Bank is a banking expert and joins Marc on this episode to shed light on this crucial aspect of banking fraud and compliance often overlooked by property managers. They dive into the intricacies of trust accounting and share eye-opening experiences and stories regarding current fraud tactics targeting property management businesses.

They also emphasize the importance of correctly setting up bank accounts to safeguard against potential legal and financial issues. This episode is essential for both seasoned property managers and those just starting out, as it provides valuable knowledge on how to protect your business from unexpected financial threats.

From understanding compliance regulations such as KYC and audit rules to effectively handling trust accounts, this episode will equip you with the necessary tools to ensure your clients' protection and maintain financial security in an ever-changing industry!

To learn more about Enterprise Bank & Trust follow this link.

Reach out to Allison via email: Adisarro@enterprisebank.com

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This podcast is produced by Two Brothers Creative 2024.