Cyber security awareness.
We take fraud prevention very seriously, and we are dedicated to acting as your advisor and partner in your protection against fraud. We are perpetually investing in the right technology to make sure your personal, business and financial information is safeguarded from fraudsters.
When banking with Citywide Banks, it’s important to remember that:
- We will never ask for personal or financial information by, in response to or via a link in an email or text message.
- We will never initiate a phone call asking for financial information, including your account password, social security number, balances or Secure Access Code.
- When you call us we may ask you for specific information in attempt to verify your identity before disclosing financial information.
- If we have reason to doubt the authenticity of a caller, we are not required to provide financial information.
- If you feel you received a suspicious or unusual call, hang up and call the bank directly.
Cyber criminals are becoming more creative and have diversified their attack strategies. That means we all must take steps to safeguard our information. If nothing else, these are the top three actions you can take for your business or home.
CYBERSECUIRTY FOR BUSINESS
Make sure know who you are paying
Always verify payment requests submitted to your business. Verify with a second individual or the requestor, but through a different channel than the one used to submit the request. Always use a phone number on file, not a phone number contained in the request. Never feel pressured to initiate a payment without verification. It is safer to take a little longer and be sure the payment is legitimate, than to be quick and lose thousands of dollars to fraud. Always verify any change to vendor payment instructions (i.e., bank name or account number) and use dual control – meaning you establish a dual control requirement for all outgoing ACH or wire payments.
Reduce payment fraud risks
Once your Accounts Payable process has the checks and balances you need to avoid duplicate and/or unauthorized payments, talk to your Treasury Management team to evaluate today’s tools and technology that not only help reduce payment fraud, but can also help you automate some of the Accounts Payable process to save time and money.
Require multi-factor authentication (MFA)
MFA confirms your identity only after successfully presenting two or more pieces of evidence (or factors), such as a password, security token and/or fingerprint. A valuable tool when receiving payment information or updating your contact information.
Learn more about protecting your business against fraud
CYBERSECURITY AT HOME
Use strong passwords
The combination of strong passwords and changing them at least once per quarter is highly recommended. DO NOT use the same password for multiple logins and use multi-factor authentication whenever it’s available.
Avoid unknown links or attachments in email
When you receive a request for payment via email, review it carefully, and if there is any doubt, contact the vendor via the phone number on a previous invoice or look up their number online to verify. Fraudsters can change any company’s email address by adding a letter, a period or something else that people may miss if they are not aware of the risk of fraud.
Use Internet Security Software
Install and maintain current Internet security software on all devices, including mobile phones and tablets.
Learn more about protecting your home and family against fraud.