State Savings Bank

Preventing Cybertheft

Posted on 01/09/2017 at 02:00 PM by State Savings Bank

We take protecting customer information seriously. At State Savings Bank, it is one of our top priorities. While we take pride in employing robust security measures to serve customers with safety, we understand that we cannot do it all from our end. Customer awareness and involvement both on and offline is a crucial line of defense. We’re here to help you know how to be proactive in prevention of cybertheft.

To protect your bank accounts, we recommend taking the following precautions:

  1. Protect your email account. Did you see the recent news that over three billion Yahoo email accounts were compromised? Email compromise attacks are predicted to become cybercriminals’ next new favorite in 2017 as a means to perpetrate financial fraud. Once someone gains access to your email account, they can scan its contents looking for banking, credit card or other nonpublic personal information they can use to access your accounts or send emails that appear to be from you. Routinely purge your email folders of anything that could be misused if an unauthorized person gained access.
  2. Double-up on your password protection by choosing passwords that have a variety of uppercase and lowercase letters, numbers, and symbols. Memorize your passwords and PINs rather than writing them down or storing them on your smartphone and do not use the same password on multiple online accounts. Also, make sure the answers to your security questions are ones only you would know.
  3. Enroll in electronic statements to prevent the possibility of a paper statement being stolen out of a mailbox, off a desk, or from a garbage bin. If you prefer to receive paper statements, retrieve your mail promptly, and discontinue delivery while you’re out of town. Whenever possible, mail bills from your post office, not your mailbox. Shred papers containing any personal information.
  4. Beware before you share any password, account information, or PIN over the phone or internet. Always err on the side of caution when opening an unsolicited email and do not click on links in the message. Please be cautious if ever asked to reveal or confirm non-public information online if you believe it isn’t associated with State Savings Bank. We do not ask you to verify any personal or account information over the internet or via email. If you have any questions regarding an email you have received, please contact us at 515-457-9533 and we will verify that it was sent from a State Savings Bank employee.
  5. Use wireless networks you trust. Try not to check your accounts at work, on public computers, or using a public wireless network. Only use secure wireless networks that you trust. If you have a home wireless network, ensure it is secured and that any default passwords associated with your equipment have been changed. When you're finished with an online banking session, make sure you logout of your account and close the browser.
  6. Regularly review your account statements to ensure all transactions are correct. If an account statement is late in arriving or does not arrive, call your financial institution to find out why. Check your account activity online regularly to catch suspicious activity early. It’s a good idea to also review your credit report at least once a year to check for changed addresses and fraudulent charges. Go to the Federal Trade Commission’s authorized website (https://www.annualcreditreport.com/index.action) for your free credit report.
  7. Be smart about software. Keep your firewall turned on to protect your computer from hackers, install or update anti-virus software to prevent malicious software from embedding itself on your computer, and promptly update your operating system to fix security holes. And don't forget to update your phone.

Being Known is a Good Thing

Banking at a smaller community bank like State Savings Bank, where you know your banker and your banker knows you, is a great way to thwart cybercrime. We’ve detected and stopped an increasing number of fraud attempts in the last year by recognizing when someone’s account activity or communication style suddenly deviates from their customary pattern. Getting to know you goes beyond being friendly, it’s our way of working to keep your money safe.

Unfortunately, despite everyone's best efforts, cybercrime still happens. If you fall victim to fraud or have your debit or credit card stolen, our Security Center details steps you can take to stop further theft.

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