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Fraud Protection

Here are some important things you should know to protect yourself and your information:

1880 Bank will never send messages, texts or emails asking for identifying information. Please be aware of fraudulent text messages regarding disabled or deactivated debit cards. The Bank takes protecting our customer’s information very seriously and has multiple safeguards in place to protect against fraudulent access.

Protect Yourself Online

The American Bankers’ Association recommends the following tips to keep your information – and your money – safe. Download and read the full article.

Understand what “Phishing” is and how you can fight against it. 

While online banking and e-commerce is very safe, you should always be careful about giving out your personal financial information online. Phishing is the attempt by hackers and organized crime to steal valuable information such as usernames, passwords, and credit card numbers. Consumer education is a powerful weapon in the fight against phishing. Protecting your money is a partnership between you and your bank. The more precautions we all take, the safer your money – and your information – will be. Download and read the full article.

Check Card Fraud Identification Service – What it is and how it works. 

1880 Bank uses Fraud Identification Service, a service that monitors our cardholder’s transactions and generates a “Risk Score”, which represents the probability that the signature debit transaction, ATM, or Pinned POS transaction could be fraudulent. The higher the score the greater the possibility of fraud.

As part of this new program to protect our customer and help the bank minimize risk and possible losses, First Data’s Risk Management Department will act on the bank’s behalf and contact our customers directly for transaction verification and will place restrictions on their card when warranted, if the risk score passes the company’s thresholds.

  • Customers may receive a telephone call from the “Transaction Review Department” to verify certain transactions
  • The analyst may leave a message at the telephone number on file and will expect a return call to a toll-free number from the cardholder only
  • The analyst will NOT ask for card number, social security number, PIN number, or account information
  • If no contact is made after 2 attempts, or the transactions are confirmed as fraud, a block will be placed on the card
  • The fraud department is staffed 24 hours per day, 7 days per week, including holidays

If a customer’s card is blocked, they will be instructed to contact us directly for a replacement card.

Bank Safely Online

Online banking has become a tremendous convenience and time saver. But through the Internet you are indirectly connected to billions of people around the world. To keep your banking information private and secure, you need to make sure to use simple but effective electronic or digital safeguards. Some involve precautions you can take, such as secure passwords and PINs to protect your identity. Others are more a matter of being aware of the potential for scams or fraudulent schemes.

ID Theft

It’s tempting to make passwords easy to remember, or to use the same one to log on to multiple sites. The same applies to security questions: it seems faster and more convenient to choose the same question (and answer) for multiple sites.

However, if the security of your identity is compromised, most likely you will spend weeks or even months trying to repair all the damage done.
Take a few extra moments to create passwords using at least eight characters and a combination of numbers and letters. Some security experts advise changing a password every six months. Try to choose security questions and answers that would be more difficult for a stranger to guess. Do not choose security questions that are a matter of public record such as, mother’s maiden name, what city you were born in, etc. And use different sets of questions and answers for different sites.

Using 9876 or 1234 for a PIN makes it easier for someone to steal your identity. Using the last four digits of your Social Security number is even less secure and really asking for trouble. Try to choose a set of four numbers that makes sense or has meaning for you (not days, months, or years of birthdays) but would seem random to someone else.

Above all, never divulge your password or PIN. If you must write it down, keep it in a secure, locked cabinet or box at home. Never take your password or PIN anywhere with you.

Computer Security Tips

You should always use your own desktop computer, laptop or mobile device for online banking. Using public computers or borrowing a friend’s mobile device or laptop are high-risk activities. Experts differ on whether a Wi-Fi network is more or less secure than Ethernet. But generally a home hard-wired Local Area Network with only a few computers linked is more secure than public Wi-Fi spots. The key is having an awareness of how many computers are on a network, whether wireless or Ethernet.

Make sure to stay current with operating system updates, whether Mac or Windows. The system updates are most often tied to security issues. Use the most recent versions of Internet browsers and always download updates whenever they become available.

Take advantage of software that protects your computer against malware, which describes a whole range of viruses, spyware, or other unwanted electronic intrusions into your computer’s operating system. Anti-virus or malware protection is usually very reasonably priced and well worth the investment.

Type in our URL address in your browser bar. (Never click on a link to our site that comes in an e-mail; see below). Our secure URL address includes the letter ‘s’ after the http in the address bar. That’s the address you’ll see when logged on to your account.

Always log off when you have completed your online banking transactions. For added protection you may wish to close your browser window as well.

Shut down your computer at night or if you won’t be using it for long periods. Not only does that save electricity and money, it cuts down on your vulnerability to viruses or hacking.

Check your online banking statement often, keeping an eye out for any unusual transactions.

E-mail Security:
E-mail is another convenient and versatile time saver of the digital age. However, banking online requires an extra level of awareness to the fact there are people out there, all around the world, who are always looking for e-mail doors that are slightly open. Here’s how to keep your e-mail door tight and secure.

The most common e-mail scam is called “Phishing.” Phishing is an (illegal) attempt to get you to respond to what may seem to be a legitimate e-mail request. Scammers send out official looking mass e-mails to unsuspecting recipients, hoping that among those recipients there will be people who believe the e-mail is a genuine communication.

The fake e-mail will urge you to respond, typically using terms like “urgent” or “immediate response needed.” The message may ask you to click on a link that may be close to a real web site address. It may prompt you to click on an attachment to open it. The senders will write that it’s “urgent” that you confirm details of your account by going to the web site via the fake link or through the attachment.

Do not respond in any way to e-mails if you are not totally sure you know the sender. If you are even a little suspicious, do not click on the link or open the attachment.

1880 Bank does not and will not ever send an e-mail asking for account information. If you suspect an e-mail is fake or fraudulent, the best and safest course is to move the e-mail to your Spam folder, then delete it along with whatever else is in the Spam folder. If the sender was legitimate, (which is unlikely, because rarely if ever would a legitimate company ask you for that information via e-mail) they will find another way to get in touch.

Online Banking Security Tips for Business Customers.

Protecting your business financial assets is a top priority at 1880 Bank, but we can’t do it alone. Just as you protect your business from intruders by activating a burglar alarm at closing time, your business computers must be protected from cyber thieves attempting to exploit weaknesses in your computer network.

In addition to the cyber security measures recommended on this page for individual account holders, business customers have additional account features that should be monitored for fraudulent activity.

Corporate Account Takeover (CATO) Fraud is a form of corporate identity theft where a business’s online banking credentials are stolen by malware. Criminal entities can then initiate fraudulent banking activity, including wire transfers and ACH payments. Corporate Account Takeover Fraud involves an unauthorized third-party gathering compromised identity credentials to conduct fraudulent transactions from the business’s account not to the bank’s internal systems. Here are some recommendations for securing your online business banking activity:

  • Maintain a current browser
  • Avoid downloading programs from unknown sources
  • Select unique and complex passwords
  • Avoid writing down login credentials
  • Install current operating system security patches
  • Keep anti-virus and spyware protection up-to-date
  • Install a firewall and intrusion prevention system
  • Use a trusted, secure PC for Internet banking – avoid public PC’s
  • Be aware and cautious of suspicious emails
  • Contact the Bank immediately upon suspected fraudulent activity
  • Never provide account login information over the phone or via email
  • Daily review of transaction history and account balancing
  • Setup the transaction alert notifications
  • Implement dual control for high-risk transactions
  • Remove terminated staff from system access including Cash Management
  • Ensure frequent security training for all employees

Call 844-301-1880 or contact us to find out how you can implement any of these protective measures or if you suspect fraud on your account.