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Fraud Protection

The safety and security of your financial information is of primary importance to us. This page includes important information about fraud as well as links to several resources where you can learn more about the many different types of fraud and things you can do to minimize your risk.

Fraud Alerts

View Older Alerts and Communications

September 29, 2014
Home Depot Card Breach Information

Bank of Maumee has started the process of reissuing Debit cards that were compromised during the recent breach of customer information at Home Depot. If your Debit Card was compromised, you should be hearing from one of our banking representatives soon, if you have not already. To offer you the best protection against fraud, we intend to reissue your existing Debit Card with a new card number. Once you activate your new card, the old card will be “Hot Carded” and no longer available for use. Until you receive the new card, please continue to monitor your account closely for unauthorized usage.

The Home Depot has recently reported a data breach that may have impacted debit and credit cardholders who have shopped in their stores since April 2014. We are working diligently with VISA and if it is a possibility that your debit card was compromised as a result of the data breach, Bank of Maumee will contact you directly to close and reissue your debit card. If you have shopped at Home Depot since April 2014 we do ask that you monitor your account closely for any suspicious activity and notify Bank of Maumee immediately if there is fraudulent activity on your account by calling us at 419-868-1750 Monday through Friday 9:00am – 5:00pm or call our Fraud Center 1-866-546-8273 outside of banking hours.

If you have a Bank of Maumee credit card, you will be contacted directly by our 3rd party provider.

For more details about the data breach, please visit The Home Depot's website:

www.homedepot.com

December 23, 2013
Target Retailer Card Breach Information

Bank of Maumee has started the process of reissuing Debit cards that were compromised during the recent breach of customer information at Target. If your Debit Card was compromised, you should be hearing from one of our banking representatives soon, if you have not already. To offer you the best protection against fraud, we intend to reissue your existing Debit Card with a new card number. Once you activate your new card, the old card will be “Hot Carded” and no longer available for use. Until you receive the new card, please continue to monitor your account closely for unauthorized usage.

Special Alert for Target Red Card customers with the card tied to a Checking Account

For customers with a Target Red Card that was tied directly to their checking account, your account and routing numbers may have also been compromised. This information could be used to perform fraudulent debit transactions against your account. For these customers, Bank of Maumee recommends you take the following actions to protect your account:

Close your checking account and open a new one. This is the safest way to ensure your account information is protected.
Closely monitor your account for unauthorized electronic activity. If you see any unauthorized transactions, report the transaction to your local office immediately. You will be asked to complete a Written Statement of Unauthorized Activity, and in most cases, the funds can be recovered.

Phishing Scams

We have also been hearing reports of phishing scams being targeted to compromised card victims. Cleverly disguised criminals are calling or emailing customers to lure them into releasing additional personal information such as PIN numbers and account detail. Follow the guidelines below to avoid falling victim to these scams:

NEVER give your personal financial information over the phone or via email. This includes Debit/ATM Card PIN numbers, Online Banking ID and passwords, account numbers, Social Security numbers, name and addresses associated to the account.
Do not click on any links within an email requesting this type of personal information. This could introduce harmful “malware” onto your device that can be used to collect more personal information.
In the event you receive any suspicious calls or emails attempting to collect your personal information, contact your local office immediately.

December 19, 2013
Target Retailer Card Breach Information

Bank of Maumee is aware of the recent security breach of card information from the retail chain Target. We expect to receive a list of compromised cards from Visa and will take action to block and re-issue affected cards as soon as this list is received. In the mean time, if you have shopped at a Target retail location in November and December 2013, please monitor your account closely. Bank of Maumee also utilizes a Fraud Monitoring service for our Debit Cards, that will contact you if they see suspicious activity on your card. As always, continue to protect your personal information and do not provide your PIN or card number to anyone over the phone or via email. Please contact your local office, if you have further questions.

August 12, 2013
Email Alerts and Why You Should Read Them

Have you ever entered a phony email address on a website to get a free coupon or to take a survey? One of the reasons we do this is because we do not want any more email spam in our primary inbox. Unfortunately, hackers are also using fake email addresses, also known as Disposable Email Addresses (DEAs), to intercept communications from your bank or other financial institutions. These hackers understand that banks use an email address to notify clients about initiated transfers, balance alerts, and new bill payments. If the hackers can change your notification email in a way that will not be suspicious, then they will have a better chance of getting funds out of your account.

Here at Bank of Maumee, our internal system’s software is designed to detect these changes and will notify you via email, if your email address has changed. An email is sent to both the new and old email address. It is important for you to review these notifications, as they are the first level of defense to identify potential fraudulent activity. Early detection of any fraudulent activity can assist in keeping your money secure and prevent the time consuming efforts to recover any lost funds or damage to your credit rating. For more information on how hackers use DEAs, please read the following publication:

Click here to read more.

June 16, 2013
Zeus: the father of all malware

Malware never dies; it just takes new forms and hides in new places. The father of all financial malware, appropriately named Zeus, has seen increased usage in the past few months. A report issued by Network World on May 24th stated that researchers found a spike in the proliferation of this Trojan being delivered in spam messages masked as Electronic Statement notifications. The report goes on to state that variations of Zeus, known as scareware, not only steals banking credentials, but will also freeze a PC with a warning that it has been locked by the FBI or DHS for pirating files or viewing child pornography and requests that the user send money to avoid prosecution.

As you may know, when you registered for eStatements (Electronic Statements), you were required to select a security phrase to help you verify the authenticity of the email notification that you receive when your statement is ready to be viewed. If you are unsure of your security phrase or how this process helps protect you from opening a suspicious email or attachment, please contact a banking representative at your earliest convenience.

To learn more about this malware and to view the full report, click here:
http://www.networkworld.com/news/2013/052413-researchers-warn-of-increased-zeus-270142.html

For additional information on the Scareware, visit the IC3 website:
https://www.ic3.gov/media/2012/121130.aspx

May 3, 2013
Social Engineering and Social Media

There are over 500 million users on Facebook, 175 million users on Twitter and 80 million users on LinkedIn. This is a large pool of people for hackers and criminals to Phish in (pun intended). While there are many benefits to communicating and publishing information about yourself or your company, there are just as many pitfalls that people should be aware of.

According to a guide on social media risks published by the United States Computer Emergency Readiness Team (US-CERT), criminals and hackers are accessing social media sites to:

Gain access to your bank accounts, credit cards, and iTunes or Amazon accounts by using bits of information, such as your date of birth, mother’s maiden name or where you went to high school, which is typically information that is extremely prevalent in social media outlets.
Deliver messages loaded with malware that appears to be from a friend or post links to malicious websites that promise the latest information about current events.

Before you click that link or decide to announce your date of birth to the world, think about the implications that such an act could have. For more information about social media and how criminals can use it to fleece your pockets, please read the publication from the US-CERT at: http://www.us-cert.gov/sites/default/files/publications/safe_social_networking.pdf?_sm_byp=iVV7JDM0bQZ75FQH

March 5, 2013
What is a DDoS Attack, and why should I care?

Over the past few months, the biggest banks in the country have been targets of Denial of Service attacks (DDoS). These attacks are meant to disrupt the normal operations of a bank's website while hackers attempt to breach Online Banking accounts. When a client tries to access their Online Banking accounts they may see an error stating the web page or website is unavailable, or website is under maintenance for a specific period of time. Meanwhile the hackers may be accessing your accounts and submitting fraudulent transactions to the bank for processing.

If you ever experience issues trying to access your accounts, or if you see any errors on our web page, or login page, please contact your banker immediately, as this may be the first sign of an account breach or hijack. If you do not think it can happen to you, check out what happened to a small construction company over the holidays:

krebsonsecurity.com/2013/02/ddos-attack-on-bank-hid-900000-cyberheist/

February 13, 2013
FTC Warns Small Businesses: Don’t Open Email Falsely Claiming to be From FTC

The Federal Trade Commission is warning small businesses that an email with a subject line “NOTIFICATION OF CONSUMER COMPLAINT” is not from the FTC. The email falsely states that a complaint has been filed with the agency against their company. The FTC advises recipients not to click on any of the links or attachments with the email. Clicking on the links may install a virus or other spyware on the computer.

The FTC’s advice: Delete the email. For more information on malicious software (malware), visit :

Source: United States Federal Trade Commission, www.ftc.gov

Click here to read more.

January 3, 2013
Anatomy of an Account Takeover: An Ounce of Prevention is Worth a Pound of Cure

Our bank created a visual overview of how PCs are compromised and the potential consequences of such activity. We highly recommend that you take a few moments to familiarize yourself with our Anatomy of an Account Takeover overview and review some of the recent and common types of malicious emails that hackers use to access your PC because an ounce of prevention is worth a pound of cure!

December 3, 2012
Cyber Scammers Target Holiday Shoppers

In advance of the holiday season, the FBI reminds shoppers to beware of cyber criminals and their aggressive and creative ways to steal money and personal information. Scammers use many techniques to fool potential victims including fraudulent auction sales, reshipping merchandise purchased with a stolen credit card, sale of fraudulent or stolen gift cards through auction sites at discounted prices, and phishing e-mails advertising brand name merchandise for bargain prices or e-mails promoting the sale of merchandise that ends up being a counterfeit product.

For details complete details please see the full articles at http://fbi.gov.

View Current Alerts and Communications

November 15, 2012
What Makes a Good Password?

While good passwords can be a personal inconvenience because they are hard to remember or too long, they are more important than ever. Computer hackers rely on the less creative side of people when it comes to creating passwords. Splash Data, a company that specializes in mobile security, issued a report last week regarding the most commonly used passwords. The top three most commonly used passwords have been on the list for two consecutive years, making users of these passwords easy targets for fraudsters. According to the report, the most commonly used passwords are “password, “123456” and “12345678” (most passwords are required to be 8 characters).

From a security standpoint, passwords should be complex, especially when you are trying to safeguard your financial assets.

Follow these tips to help you create more complex passwords:

Use uppercase/lowercase letters, numbers and characters
Avoid using words found in the English dictionary
Use a phrase or group of words and insert characters and numbers or letters
Avoid using the same password for all your personal and financial applications(if possible, use an application to store your passwords)
Be sure to follow the specific password requirements for each company which you have online access.

To view the top 25 worst and most common passwords, visit http://splashdata.com/press/PR121023.htm.

October 9, 2012
How to Protect Your Computer

The same advice parents might deliver to young drivers on their first solo journey applies to everyone who wants to navigate safely online. A special agent in our Cyber Division offered the following:

"Don't drive in bad neighborhoods."
"If you don't lock your car, it's vulnerable; if you don't secure your computer, it's vulnerable."
"Reduce your vulnerability, and you reduce the threat."

Below are some key steps to protecting your computer from intrusion:

Keep Your Firewall Turned On: A firewall helps protect your computer from hackers who might try to gain access to crash it, delete information, or even steal passwords or other sensitive information. Software firewalls are widely recommended for single computers. The software is prepackaged on some operating systems or can be purchased for individual computers. For multiple networked computers, hardware routers typically provide firewall protection.

Install or Update Your Antivirus Software: Antivirus software is designed to prevent malicious software programs from embedding on your computer. If it detects malicious code, like a virus or a worm, it works to disarm or remove it. Viruses can infect computers without users' knowledge. Most types of antivirus software can be set up to update automatically.

Install or Update Your Antispyware Technology: Spyware is just what it sounds like—software that is surreptitiously installed on your computer to let others peer into your activities on the computer. Some spyware collects information about you without your consent or produces unwanted pop-up ads on your web browser. Some operating systems offer free spyware protection, and inexpensive software is readily available for download on the Internet or at your local computer store. Be wary of ads on the Internet offering downloadable antispyware—in some cases these products may be fake and may actually contain spyware or other malicious code. It's like buying groceries—shop where you trust.

Keep Your Operating System Up to Date: Computer operating systems are periodically updated to stay in tune with technology requirements and to fix security holes. Be sure to install the updates to ensure your computer has the latest protection.

Be Careful What You Download: Carelessly downloading e-mail attachments can circumvent even the most vigilant anti-virus software. Never open an e-mail attachment from someone you don't know, and be wary of forwarded attachments from people you do know. They may have unwittingly advanced malicious code.

Turn Off Your Computer: With the growth of high-speed Internet connections, many opt to leave their computers on and ready for action. The downside is that being "always on" renders computers more susceptible. Beyond firewall protection, which is designed to fend off unwanted attacks, turning the computer off effectively severs an attacker's connection—be it spyware or a botnet that employs your computer's resources to reach out to other unwitting users.

For more information on Internet schemes and how to protect yourself online, see the following areas:

"Scams & Safety." How to Protect Your Computer. Federal Bureau of Investigation. October 3, 2012. http://www.fbi.gov/scams-safety/computer_protect

September 6, 2012
New Threat to Secure Token Users

There is a new form of malware targeting Online Banking clients that use a Secure Token to access their accounts. The malware virus will prompt you to enter confidential information such as your account number; however, the login page will look different than the bank’s normal login page.

After any user enters the requested information, a new screen, stating that the system is under maintenance for 24 hours, will appear. The fraudsters hope this will give them sufficient time to access your account(s) and make unauthorized transfers before you are aware of it.

Please remember that the bank will never ask for any confidential information such as account numbers, social security number, date of birth or other sensitive information through a web page as shown below. If you encounter a website that looks similar to the bank’s and is asking for information that you are not used to providing, or looks different than your normal login page, please contact the bank immediately.

Here is a sample of the counterfeit log in screens for your reference:

Online Token Request

Fake Information Request

August 9, 2012
Phishing is at an All-Time High

The use of fake websites by cyber criminals is on the rise. Fake websites look like exact replicas of many of the commonly used websites for banking and payment services. Cyber criminals commonly lure users to the fake websites with phishing emails and links. Once on the fake website, cyber criminals request that users enter and divulge confidential information, such as user IDs, passwords, social security numbers or account numbers. The more sophisticated cyber criminals trick users into installing malware or viruses from the fake websites onto PCs or personal devices that give criminals access to online banking accounts, credit cards and investment accounts, by recording the user’s key strokes.

If you believe that you have received a suspicious or phishing email, you should never open it. You should also contact the “sender” of the email to determine if it is legitimate. Keep the following tips in mind, if you believe that you received a suspicious or phishing email:

If you do not know the sender of an email, do not click on any links. Even if you know the sender, you should be cautious of clicking on any links as the sender’s email could have been hacked. Instead, you should type in the web address or use your current bookmark to navigate to the website.
If the email has attachments with executable file extensions, such as .exe, .bat, .com, .vbs, .reg, .msi, .pif, .pl, .php, do not open or download the attachment before confirming the legitimacy of the email with the sender.
If the subject line message is urgent, shocking or bizarre, do not open the email before confirming the legitimacy of the email with the sender.
If the email requests your personal information, do not provide it.
If the email has grammatical errors, be suspicious.
If the email does not address you by name, but purports to be from a company that you have a relationship with, be suspicious.

Click here to read more.

July 10, 2012
Cyber Threats to Mobile Phones

Smartphones, or mobile phones with advanced capabilities like those of personal computers (PCs), are appearing in more people’s pockets, purses, and briefcases. Smartphones’ popularity and relatively lax security have made them attractive targets for attackers. According to a report published earlier this year, Smartphones recently outsold PCs for the first time, and attackers have been exploiting this expanding market by using old techniques along with new ones.

Smartphones and personal digital assistants (PDAs) give users mobile access to email, the internet, GPS navigation, and many other applications. However, Smartphone security has not kept pace with traditional computer security.

For information on how to protect your Smartphone and the data stored on it, please read the full article from the US Computer Emergency Readiness Team at the link below.

Click here to read more.

June 25, 2012
How to avoid July 9 'Internet Doomsday': fix the DNSChanger malware

The lingering effects of an online advertising scam are affecting hundreds of thousands of Internet users -- and the FBI’s final fix for the problem may leave them without Internet access.

The problem began when international hackers ran an online advertising scam to take control of infected computers around the world. The FBI set up a safety net months ago using government computers, but that system will shut down July 9. At that point, infected users won’t be able to connect to the Internet.

Click here to read more.

April 4, 2012
Fraudulent emails claiming to be from NetTeller – Online Banking provider

On April 4, 2012, we were informed by our Online Banking vendor that some Online Banking customers have received a fraudulent email that has the appearance of having been sent from NetTeller, our Online Banking system. Specifically, the email subject line reads "NetTeller Watch Notice".

Phishing is the act of sending email that falsely claims to be from a legitimate organization. This is usually combined with a request for information such as account numbers, passwords, Social Security numbers and other confidential information. This information is then used to conduct fraud.

Be aware that phishing emails frequently have attachments and/or links to Web pages that host malicious code and software. Do not open attachments or follow Web links in unsolicited emails from unknown parties or from parties with whom you do not normally communicate, or that appear to be known but are suspicious or otherwise unusual.

If you receive or have received this email, do not click on any links or attachments and delete the email. You should also notify us immediately.

Please note that any Online Banking alert emails that you receive with the bank’s name and Watch Notice in the subject line that are sent from the bank’s ebank address are not impacted by this phishing attempt.

October 27, 2011
Fraudulent emails claiming to be from NACHA - The Electronic Payments Association.

NACHA - The Electronic Payments Association has received reports that individuals and/or companies have received a fraudulent e-mail that has the appearance of having been sent from NACHA and signed by a non-existent NACHA employee. Specifically, this email claims to be from the "Electronic Payments Association" and appears to be coming from a "payments@ nacha.org" or “transfers@ nacha.org” email address. See a sample of the email below.

Phishing is the act of sending email that falsely claims to be from a legitimate organization. This is usually combined with a threat or request for information: for example, that an account will close, a balance is due, or information is missing from an account. The email will ask the recipient to supply confidential information, such as bank account details, PINs or passwords; these details are then used by the owners of the website to conduct fraud.

Please note that NACHA itself does not process nor touch the ACH transactions that flow to and from organizations and financial institutions. Further, NACHA does not send communications to individuals or organizations about individual ACH transactions that they originate or receive.

Be alert for different variations of fraudulent e-mails such as the following sample:

= = = = = Sample E-mail = = = = = =

From: p ayments@nacha.org [mailto:p ayments@nacha.org]
Sent: Tuesday, February 22, 2011 7:32 AM
To: Doe, John
Subject: ACH transaction rejected

The ACH transaction, recently sent from your checking account (by you or any other person), was cancelled by the Electronic Payments Association.

Please click here to view report.

Otto Tobin, Risk Manager

If you have received correspondence you believe to be suspicious, do not click on any of the links. Delete the email and contact your bank if you should have questions or concerns.

(September 2, 2011). Fraudulent Emails Appearing to Come from NACHA (Action Requested). NACHA – The Electronic
Payments Association. Retrieved October 27, 2011 from
http://www.nacha.org/news/newsDetail.cfm/RecentBusinessNewsID/243.

Consumer Protection

The safety and security of your financial information is of primary importance to us. Bank of Maumee Bank wants to educate you by offering tips to help identify fraud and avoid becoming a victim. If you have answered "yes" to any of these questions please contact your personal banker today.

Check Fraud:

Are you cashing or depositing a check for items sold on the internet or a work-at-home program?
Were you informed you were the winner of a lottery you never entered?
Have you been asked to return or wire some of the proceeds of a check?
Were you offered a check for an amount that is higher than the selling price of an item?

Online Fraud:

Have you clicked on an attachment in an email that you did not know where it came from?
Has a web site asked for your user id, password, or other personal information to verify your identity?
Have you had issues trying to access your internet banking accounts, or seen a message to try again later because the sight is under maintenance?

Identity Theft and Phishing

One way thieves can steal your identity is through "phishing." It is pronounced "fishing," and that is exactly what these thieves are doing: "fishing" for your personal financial information. What they want are account numbers, passwords, Social Security numbers, and other confidential information that they can use to loot your checking account or run up bills on your credit cards.

With the sensitive information obtained from a successful phishing scam, these thieves can take out loans or obtain credit cards and even driver's licenses in your name. They can do damage to your financial history and personal reputation that can take years to unravel. But if you understand how phishing works and how to protect yourself, you can help stop this crime.

Tips to Help Avoid Identity Theft

Never provide your personal information in response to an unsolicited request.
If you believe a contact may be legitimate, contact the financial institution yourself after you have verified the contact information.
Never provide your password over the phone or in response to an unsolicited Internet request.
Never click on the links provided in an e-mail.
Protect your Social Security Number (SSN), credit card and debit card numbers, PINs (personal identification numbers), passwords and other personal information.
Protect your incoming and outgoing mail.
Keep your financial trash "clean” by shredding sensitive information.
Keep a close watch on your bank account statements and credit card bills.
Review your credit record regularly.
Never access bank, brokerage or other financial services information at Internet cafes, public libraries, etc.Unauthorized software may be installed to trap an account number and login information, leaving you vulnerable to possible fraud.

How to Report Identity Theft

Contact a bank representative immediately.

If you have disclosed sensitive information in a phishing attack, you should also contact one of the three major credit bureaus and discuss whether you need to place a fraud alert on your file, which will help prevent thieves from opening a new account in your name. Here is the contact information for each bureau’s fraud division:

Equifax
800-525-6285
P.O. Box 740250
Atlanta, GA 30374

Experian
888-397-3742
P.O. Box 1017
Allen, TX 75013

TransUnion
800-680-7289
P.O. Box 6790
Fullerton, CA 92634

Report all suspicious contacts to the Federal Trade Commission through the Internet at www.consumer.ftc.gov/features/feature-0014-identity-theft, or by calling 1-877-IDTHEFT.

Tips for Preventing Mail Theft and Fraud

Retrieve your mail promptly after delivery.
Always deposit your mail in a mail slot at your local post office or hand it to your letter carrier.
Sign up for Online Services:
- Online Bill Pay – eliminates the need to send your checks through the mail.
- Online Bill Presentment – your bills are sent electronically and not through the mail.
- eStatements – eliminates paper statements that travel through the mail.

What is Scareware?

Also called "fake antivirus" and "rogue antivirus," scareware is an attempt by cyber thieves to sell computer users useless, and potentially dangerous, antivirus software, registry cleaner or other software which allegedly repairs problems or enhances a computer’s performance.

Scareware is normally recognized by pop-up messages, which resemble Windows system messages, indicating that a large number of problems have been found on the computer. The messages prompt users to purchase software to fix the alleged computer problems and either takes users to the attacker's website or initiates a malware download if the user clicks "Cancel" or the "X" to close the window. Malware installed on computers allows thieves to view users’ passwords and other personal information.

Some of the most aggressive scareware products make critical changes to victims' computers, thus preventing them from restoring their computers to an earlier, secure status. You can protect yourself by understanding this form of cyber crime and avoiding clicking on suspicious pop-up windows.

Educational Resources for Consumers

FDIC: Learn How to Protect Yourself from Fraud.

Federal Trade Commission: Fighting Back against Identity Theft.

The Internet Crime Complaint Center (IC3) is a partnership between the Federal Bureau of Investigation (FBI), the National White Collar Crime Center (NW3C), and the Bureau of Justice Assistance (BJA) designed to serve as a vehicle to receive, develop, and refer criminal complaints regarding cyber crime.

The Financial Fraud Enforcement Task Force maintains a wide list of resources and information dedicated to helping find and report suspected cases of financial fraud.

OnGuard Online provides practical tips from the federal government and the technology industry to help you be on guard against Internet fraud, secure your computer, and protect your personal information.

FBI: Common fraud schemes and helpful information to avoid becoming a victim.

Internet Safety Alert Poster from The Internet Crime Complaint Center (IC3).

Corporate Protection

Corporate Account Takeover

Corporate account takeover is a method by which cyber-thieves gain control of a business’ bank account by stealing the business’ valid online banking credentials. Although there are several methods being employed to steal credentials, the most prevalent involves malware that infects a business’ computer workstations and laptops.

A business can become infected with malware via infected documents attached to an email or a link contained within an email that connects to an infected website. In addition, malware can be downloaded to users’ workstations and laptops when the users visit legitimate websites - especially social networking sites - and click on the documents, videos or photos posted there. This malware can also spread across a business’ internal network.

In common attacks, cyber-thieves send emails purporting to come from reputable, national organizations. This is a common tactic to gain credibility and lure unsuspecting individuals into taking some action. A recipient who clicks on the links within the email may be taken to a fake website, which prompts the recipient to unknowingly download malware to the computer.

The malware installs keylogging software on the computer, which allows the perpetrator to capture a user’s credentials as they are entered at the financial institution’s website. Sophisticated versions of this malware can even capture token-generated passwords, alter the display of the financial institution’s website to the user and/or display a fake Web page indicating that the financial institution’s website is down. In this last case, the perpetrator can access the business’ account online without the possibility that the real user will log in to the website.

The cyber-thieves use the sessions to initiate funds transfers, by ACH or wire transfer, to the bank accounts of associates within the U.S. These accounts may be newly opened by accomplices or unwitting “money mules” for the express purpose of receiving and laundering these funds. The accomplices or mules withdraw the entire balances shortly after receiving the money, and then send the funds overseas via over-the-counter wire transfer or other common money transfer services.

Why are smaller businesses and organizations targeted?

The cyber-thieves appear to be targeting small- to medium-sized businesses, as well as smaller government agencies and non-profits, for several reasons:

Many small businesses and organizations have the capability to initiate funds transfers via ACH or wire. This funds transfer capability is often related to a small business’ origination of payroll payments.
Many businesses maintain a type of organization chart online, making spear phishing (targeting a specific employee) for an employee with online banking authorities easier.
Small businesses often do not have the same level of resources as larger companies to defend their information technology systems.
Many small businesses do not utilize additional banking services, such as password-generating tokens, and do not monitor and reconcile their accounts on a frequent or daily basis.

What can you do?

Protect

Ask us about multi-factor authentication, for example: something the person knows (user ID, PIN, password); Something the person has (password-generating token).
Ask us about dual control features for initiation of payments via Online Banking, with distinct responsibility for transaction origination and authorization.
Ask us about establishing reasonable exposure limits that are related to transaction origination.
Do not respond to or open attachments or click on links in unsolicited emails.
If you receive an email from an apparent legitimate source requesting account information or action, contact the sender directly by other means: We will not send customers emails asking for passwords, credit card numbers or other sensitive information.
Contact us immediately if you encounter a message stating that the system is unavailable while trying to log in to your account.
Conduct Online Banking and payments activity from a dedicated computer that is not used for other online activity, such as general Web browsing and social networking and/or is not connected to an internal network.
Ensure that all anti-virus and security software for all computer workstations and laptops is robust and up-to-date.
Log/turn off and lock up computers when not in use.
Change the default passwords on all network devices.
Educate your employees on this type of fraud scheme.

Detect

Monitor and reconcile accounts daily; many small business clients do not reconcile their bank accounts on a daily basis, and therefore may not recognize fraudulent activity until it is too late to take action.
Note changes in the performance of your computer such as: loss of speed, changes in appearance, computer locking up, unexpected rebooting or restarting of your computer, unusual pop-up messages, new toolbars and icons or an inability to shutdown or restart.
Look out for rogue emails; if someone says they received an email from you that you did not send, you may have malware on your computer.
Run regular virus and malware scans of your computer’s hard drive.

Respond

If you detect suspicious activity, immediately cease all online activity and remove any computer systems that may be compromised from the network.
Immediately contact us so that the following actions may be taken: disable online access to accounts, change online banking passwords, open new accounts as appropriate, request a review all recent transactions and electronic authorizations on the account and ensure that no one has added any new payees or made any other critical changes to account information.
File a police report; having a police report on file will often help facilitate the filing of claims with insurance companies, financial institutions and other establishments that may be the recipient of fraudulent activity.
In addition, you may choose to file a complaint online at www.ic3.gov. For substantial losses, contact your local FBI field office. (http://www.fbi.gov/).
Have a contingency plan to recover systems suspected of compromise.
Consider whether other company or personal data may have been compromised.

Educational Resources for Businesses

The Federal Trade Commission’s (FTC) Bureau of Fraud Protection Business Center contains information about how to protect your business from fraud.

US Chamber of Commerce commonsense guide to Cyber Security for businesses.

United States Secret Service: Learn how to detect counterfeit currency and guard against forgery loss.

The Federal Trade Commission (FTC): “Protecting Your Business from Fraud” video.

Online Banking

Remote Deposit

Fraud Protection

Fraud Alerts

Special Alert for Target Red Card customers with the card tied to a Checking Account

Phishing Scams

Consumer Protection

Corporate Protection