Reduce your vulnerability to fraud

Reduce your vulnerability to fraud

Online and mobile fraud present a serious threat to your business and bank accounts.

According to the Symantec 2013 Internet Security Threat Report, online attacks increased 42% in 2012; mobile malware increased 58%. Thirty-two percent of all mobile malware steals information from the compromised device.

Online and mobile fraud attempt to obtain confidential information — including passwords, personal ID numbers, token codes, and token serial numbers — and use it to access your accounts.

You can help protect the cash in your company's accounts with these best practices and effective bank services:

  • Guard your online and mobile banking credentials. Never give your company or user IDs, passwords, token codes, or token serial numbers to anyone who contacts you by telephone, email, or text message.
  • Implement dual custody for online payment and administration services. Dual custody is one of the most effective fraud deterrents in a layered security approach.
  • Before you download or install a banking app or shortcut on your smartphone, check to make sure it's an authorized and genuine app from your financial institution.
  • Don't follow links in emails that claim to be from your financial institution. Go directly to your bank's online or mobile banking service to do your banking.
  • Do not open or respond to an email or text message expressing an urgent need for you to update your information, activate an account, or verify your identity by calling a phone number or submitting information on a website.
  • Lock your mobile device when not in use, and store it in a secure location. Install tracking software that allows you to locate or wipe your device if lost.
  • Install mobile malware and antivirus software and keep smartphone patches and upgrades up to date.
  • Be aware that jailbreaking your device increases risk. Anytime an application or service runs in "unrestricted" or "system" level within an operating system, it allows any compromise to take full control of the device.