Online financial transactions give clients the ease of anytime, anywhere banking. The unintended consequence is that criminals take advantage of this convenience, too.
“Doing all you can to protect your account from cyber criminals is a must in this day and age,” says John Caliolo, AAP, CTP, treasury management officer for Seaside National Bank & Trust. “Financial malware is constantly evolving to continuously evade detection. Only through joint effort and persistence from the client and the bank do we stand a fighting chance.”
According to Caliolo, the four greatest client threats are: Email phishing that solicits personal or business data; unsolicited Emails with links that install compromising malware; Email accounts being “hacked” by fraudsters; and illegitimate mobile banking apps containing “trojanized” code that allows unauthorized access to your device.
“Your security is our top priority,” says Caliolo. “That’s why we’ve partnered with IBM, a leading financial security expert, to offer Trusteer Rapport online fraud protection software, customized to protect users of Private & Business Internet Banking—at no additional cost to clients.” Trusteer Rapport detects malware before installation, removes existing malware from your computer, and stops phishing attacks. Another security feature Seaside provides is Out-of-Band Authentication, which enhances protection when a login attempt is made from a computer or device that is inconsistent with previous login activity.
Even with these added layers of security provided by your bank, Caliolo warns against letting your computer and its software be the weak links. Make sure your device’s operating system and software are updated, preventing hackers from finding vulnerabilities.
Seaside National Bank & Trust recommends these six important defense measures:
Create strong passwords—and change them frequently. A password with at least eight characters, a combination of numbers, mixed-case letters, and symbols, is best.
Don’t share. Keep usernames and passwords to yourself, and don’t use the same password for your bank and other less secure sites.
Forgo personal information. Don’t use the likes of your social security number, birthdate, or street address as your username and/or password.
Thwart phishing. Don’t open emails—or attachments—sent from unknown sources.
Don’t click. Cyber criminals try to trick you into clicking on web links embedded in emails. When you do, you expose your system to hijacking.
Keep alert to mobile threats. Banking via phone, laptop, or tablet is user-friendly—for you and cyber criminals. Prevent unauthorized entry to your device by downloading only legitimate apps from the legitimate app stores, and access Seaside’s Private or Commercial Banking Apps from a secure, non-public Wi-Fi or cellular connection only.
Review daily. Prevention is important, but so is quickly identifying a security breach—if one occurs. Closely review your account balance and transactions daily, and immediately report any discrepancies to your bank.
Seaside National Bank & Trust encourages you to address any questions or concerns with your Client Advisor. By partnering with the bank and using the available fraud prevention features, services, and recommendations, we can jointly be a formidable defense against cyber crime.Tags: fraud, passwords, phishing, security