Category: Cyber Security

AI in Banking

Artificial Intelligence’s Impact on Banking: Transforming the Customer Experience

Artificial Intelligence (AI) has emerged as a game-changer in various industries, and banking is no exception. The integration of AI technologies has revolutionized the way banks operate and interact with customers. One of the most significant transformations brought about by AI is the enhancement of the customer experience. In this blog, we will delve into how AI is reshaping the banking sector and elevating customer satisfaction to new heights.

Personalization

AI is now delivering individualized financial solutions to customers. From delving into your financial data to understanding spending habits and goals, to crafting tailored recommendations such as ideal investments or savings plans, AI’s deep insights guide you towards informed financial decisions. Effortlessly, AI keeps you in the financial loop with timely alerts, ensuring you stay on track. This new level of guidance empowers you to make choices aligned with your aspirations, making banking not just personal, but intuitive and empowering.

Virtual Assistants and Chatbots

In modern banking, virtual assistants and chatbots have revolutionized customer support. These digital helpers are available around the clock, providing instant assistance and information. They act as your personal banking guides, answering queries, offering explanations, and helping with tasks like checking your balance or transferring funds. Their user-friendly interfaces make interactions easy for everyone, ensuring you don’t need to be a tech expert to navigate them. 

Fraud Detection and Prevention

In the world of banking, your security matters, and AI is at the forefront of safeguarding your accounts. AI closely monitors your transactions, detecting any unusual activities and flagging potential threats. It ensures a rapid response by alerting the bank’s security team, and with each encounter, AI learns and becomes even better at identifying new fraud tactics. Through the analysis of extensive data, AI enables banks to implement advanced security measures that protect your personal and financial information. 

Credit Scoring and Risk Assessment

AI has revolutionized credit scoring and risk management in banking, creating a fairer and more inclusive system. It goes beyond traditional credit metrics, considering a wide array of factors to offer credit access to those with limited credit history. By incorporating diverse data sources like social media and online behavior, AI ensures that lending decisions are inclusive and reflective of individual financial behavior. Moreover, AI-driven processes help mitigate unconscious biases, promoting equitable access to financial opportunities. Through its predictive capabilities, AI enhances risk assessment accuracy, benefiting both lenders and borrowers by tailoring loan terms to individual circumstances.

Predictive Analytics for Customer Behavior

By analyzing your past actions, AI anticipates your future moves, allowing your bank to offer timely services and solutions tailored to you. Whether it’s suggesting a savings plan based on your spending habits or providing credit options aligned with your goals, AI’s insights lead to recommendations that match your unique needs. No more sifting through irrelevant offers – AI ensures that the promotions and deals you receive are perfectly suited to your interests.  

If you’re excited about experiencing the transformative power of AI in banking, look no further than Peoples Bank & Trust. Join us on this journey of innovation and convenience as we leverage cutting-edge AI technologies to provide you with a seamless, secure, and personalized banking experience. Your financial aspirations are our priority, and AI is our tool to make your banking experience truly exceptional. Discover the future of banking with Peoples Bank & Trust today!

What is Phishing?

What is Phishing?

Your cybersecurity is of the utmost importance. Do you know what phishing is? Keep reading to learn what phishing is, how it can happen, and tips to tighten up your cybersecurity. 

Definition of Phishing

When criminals go phishing, do not take the bait. Phishing is when criminals create fake emails and lure you into clicking. These emails commonly bait you into clicking malicious software that will download on your computer or convince you to share personal information. Phishing happens daily, it is extremely important to know what it is, what to look for and how to handle it. 

Don’t Click It

If you see a suspicious email you feel could be a phishing attempt, DO NOT CLICK IT. Believe it or not, it can be difficult to spot a fake email. If you’re at the office and the email came to your work email address, report it to your IT manager or security officer as quickly as possible. On your personal email, do not click on any links (even the unsubscribe link) or reply back to the email – JUST DELETE IT. You can take your protection a step further and block the sending address from your email program, too.

Here’s how to… 

Here’s how to:

Signs of Phishing 

Recognizing a phishing attempt can be fishy and almost difficult sometimes. If you have a feeling an email looks off, go with your gut. Here are the top signs that may point to a phishing attempt: 

  • Contains an offer that is too good to be true
  • Very urgent language 
  • Uses threatening or alarming language
  • Ambiguous greetings
  • Requests personal information
  • Bad grammar
  • Misspellings
  • Sending from an email address that doesn’t match the person or company
  • The urgency to click links or attachments
  • Strange requests

Don’t be scammed by a phishing attempt. It is important to educate your household about what to look for in a fake email and how to go about handling it to ensure your safety and cybersecurity. Keep your devices and accounts password-protected and be sure to clear out your inbox frequently. Don’t take the phishing bate!

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

How to Effectively Teach Your Kids Online Safety

How to Effectively Teach Your Kids Online Safety 

Having our kiddos grow up in a world that becomes more and more digitalized can be a scary thing. The best thing you can do for your kids is to teach them about cybersecurity and implement safe online habits early on. With summer coming up, there may be more people online when your kids are on their devices. Here are some tips to outline with your kids to ensure safe cybersecurity practices. 

Educate Yourself First 

There is not a one size fits all approach to teaching your kids cybersecurity at a level they understand. Each kid is different and wants different things from their online experience. If you can educate yourself and implement good habits both when you are and are not with your kids, you are on the right track. Having gadgets is great, especially for you to connect and communicate. 

Set Up a Routine

Having an enforced device routine is important to safe cybersecurity. A great way to monitor their device and usage is to have a charging station out in the open. It’s also great to set the times of the day they can have screen time. Having these times already enforced make it that much easier for your kids to follow and can work as a token for good behavior when the kids have earned some extra screen time. 

Set Up Basic Rules

It is very important to set basic rules, such as downloading apps, searching the internet, where they can use their device, and more. It is crucial to have a clean device, so be sure your kids understand the importance of having their apps and device updated. Apps are a great learning tool for kids, but they also can be very dangerous. It is important to teach them the importance of asking before they download and if the download is requesting access to anything. 

Basic rules can be easily monitored with parental controls to set rules within the device. It may be worth passcode protecting everything so only you can let them into a device and app you want them using. Rather than allowing them to use their device on their own, it can be of value to create a space where they can use it out in the open when you are able to monitor their usage. 

Use Child-Friendly Resources and Examples

As you teach your kids more and more about online safety, it is important to use examples they can understand. When instances come up, rather than getting upset, use it as a time to learn and walk through the correct way to handle the situation. Learning safe online habits should be continuous. Explaining to your children about hacking, phishing, identity theft, cyberbullying, etc. is important for them to thoroughly understand technology as they grow up.

Good cybersecurity habits are crucial to keeping ourselves, our information, and our kids safe. Summer tends to be a time where kids are on their devices more and more, sometimes when you are not home or with another adult. Creating a routine and expectation for them will only make it easier to implement your rules and continually educate them.

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

Top Cybersecurity Practices for Your Cellphone

Top Cybersecurity Practices for Your Cellphone

We use our mobile devices for just about everything these days – work, social, personal, etc. If we do not proactively take steps to protect ourselves on our devices, we are allowing ourselves to be vulnerable to phishing, hackers, and compromised data. Take a minute to read up on some top cybersecurity tips as a reminder to make sure your cellphone is secure.  

Educate Yourself on Best Cybersecurity Practices 

Effectively educating yourself on the top cybersecurity practices frequently will ensure your privacy and safety on your device. When your phone is not secure data leakage is extremely common. We all use our mobile devices to browse the internet, apps, and most commonly email. Email phishing and spam attacks are huge and can be a huge breach of your data if you are not addressing them immediately. 

Secure Your Phone 

Accurately securing your phone is crucial to good cybersecurity. Having a password is key to ensuring your phone’s security. Creating a good password, whether that be a combination of numbers and letters, your fingerprint, facial recognition, or even eye recognition will boost strong security. It is very smart to also have your apps password protected to add another layer of security.  

If possible, incorporate a two-factor authentication. This is a great option for apps you use less frequently or that have a lot of personal data in them. When using two-factor authentication you will first enter a password. You then will receive a code via email or SMS to enter to get into your account.  

Avoid Public or Open Wi-Fi Networks  

I know we all have times where we are reliant on a good internet connection but try as much as possible to not connect to public or open Wi-Fi networks. Public and open networks bring many threats to your device as they are visible to anyone on that network. 

If you absolutely need internet, utilize your data plan, or install a VPN to keep your phone secure and hidden from open networks. This is a reminder if your home internet or hotspot isn’t password-protected, do it now!  

Update Your Applications and Device 

It is very important to frequently update your applications and device software. If you get a notification something needs an update, do it as soon as you possibly can. When you install an application, read through the user permissions to know what it needs access to. Only give permissions when you are running the app, not at all times. If there is an app you are not using, be sure to shut off those permissions or delete the app altogether. If you don’t intend to use the app for video or photo use but it asks for it, it may not be the best app to install.  

Our lives are on our mobile devices, so it is important we have good practices in place to combat cyber threats. Incorporate these tips or use them as a checklist to ensure your device and your data are secure. 

Peoples Bank & Trust Co. 

Member FDIC 

Equal Housing Lender 

Kids On Tablet; Cybersecurity

Cybersecurity Tips Every Parent Should Know 

Today’s generation of kids knows how to operate a device before they learn their ABCs. The internet has become inevitable. Parents, exercise the 3 P’s below to ensure online protection for your family.  

1. Practice Safe Online Habits  

When it comes to practicing safe habits online, it tends to be easier for parents if their children can understand why we implement online safety practices. Having these conversations can be hard, however more times than not, the child will understand why we utilize these essential cyber skills. Start with explaining basic rules such as posting photos – we truly do not know who is seeing what we are doing and where we are, that is why we only send photos to people we know directly.   

Another basic rule to practice as a parent is the idea of ‘clicking with caution.’ Phishing is very dangerous and only takes one click for malicious software to get on any device. Checking over spelling and links prior to clicking is a safe practice to hopefully diminish phishing. It is very important to keep a clean, updated and backed-up device to defend against potential viruses.   

2. Protect Your Identity  

Protect your family by utilizing privacy settings to secure personal information. The key to privacy is being very minimal with what you share online as well as cleaning up old profiles. Old and unused apps should be checked and deleted frequently. Apps that allow for messaging should be kept private to eliminate people they do not know adding or writing them.   

Safe online practices should be talked about and consistently monitored. Engaging in these conversations with your family on cybersecurity should be specific, so they can understand exactly why we practice safe online habits and so you can learn together. Kids today face more online risks that need parental guidance. Implementing age ratings and built-in controls can control and limit access to inappropriate content. Having these rules in place and under a watchful eye can help children stray away from bad practices.   

  • Incorporate a device docking station in a common space at night.  
  • Keep devices in common spaces for usage under supervision.   
  • Control their screen time and ability to log in.   

3. Password Persistence  

Teach and practice safe password protection for all mobile devices and online profiles. Strong passwords should never be shared or reused. You really should not even be reusing passwords amongst accounts – if a hacker can get into one, they can then get into all. When creating a strong password, the best tips are:  

  • Make it unique and not personal to you or your family.   
  • Do not use your name, family name, identifying number or birth date.  
  • The longer the password, the better. Utilize both uppercase and lowercase letters, as well as numbers and symbols.   
  • Do not reuse previous passwords or something too similar. You should be changing your passwords often.   
  • Pick a password you can remember and not have to write down/have on your phone.   

Parents, it is up to you to enforce safe online habits to ensure effective cybersecurity for your kids. Having those conversations on cybersecurity, as well as creating boundaries and rules will keep your kids much more aware. The more time you spend online, the more likely you are to deal with cybersecurity threats. The hackers and scammers target young children because they often lack experience and knowledge, but not yours. Educate your kids on cybersecurity training today!   

Peoples Bank & Trust Co. 

Member FDIC 

Equal Housing Lender 

Cyberhacker on a computer

How to Spot Cybercriminal Activity 

When we think of cybersecurity and cybercriminal activity, we often think about businesses being at risk. It’s important to know that anyone can be affected, so there are certain precautions to take when it comes to protecting yourself and your personal information.   

Things to Keep an Eye Out For:  

1. Unusual Account Activity  

One reason why it’s crucial to have notifications turned on for your bank accounts is so you can be alerted when withdrawals occur. If you get an alert and you weren’t the one to use your card, you can take immediate action and contact your bank to figure out the issue. Having these alerts turned on will give you peace of mind about your finances.  

2. Emails From an Unknown Sender  

Be careful with emails from an unknown sender as they may contain files or links that are meant to infect your machine with viruses and malware. Cybercriminals have a way of making their emails look legitimate, so even if it looks like it’s from an e-commerce site or financial institution, double check before clicking around.  

3. Messages Asking for Money or Personal Information  

Just as cybercriminals can mask themselves as businesses, they can also pretend to be people you know. It’s easy to figure out the names of friends and family members with the help of social media. If you get a message or email from someone claiming to be a person you know, always check with that individual over the phone or in person. Plus, you should avoid sharing personal or financial information over email or messenger – wait until you can talk on the phone or see them.  

Ways to Take Action:   

1. Always Keep Your Machines Updated  

One of the best ways to keep attackers out is to keep the software on your devices up to date.   

2. Better Safe Than Sorry  

If the email you receive looks legitimate but you’re still not sure, it’s better to be safe than sorry. When in doubt, just delete it.  

3. Multi-Factor Authentication  

Most of your accounts give you the option to set up multi-factor authentication. This is always a good idea just in case a cybercriminal is able to get past the first layer of account security.  

Remember that when it comes to cybercriminal activity, it’s always better to be skeptical than to assume the best. Keep you and your financial information secure by following these helpful tips!  

  

Peoples Bank & Trust Co. 

Member FDIC 

Equal Housing Lender 

old-man

Cybersecurity Tips for Your Elderly Loved Ones

When it comes to older individuals, cybersecurity is something that can be commonly overlooked. Instead of hoping for the best, it’s important that we take steps to educate those who might not know how to spot cybercriminal activity. Here are some important things to remind your elderly loved ones: 

Even if an email looks legitimate, there’s still a chance it isn’t. 

Cybercriminals do a great job masking their identities by making emails and messages look like they’re coming from a reliable source. This can be tricky for people to differentiate, so make sure your elderly loved one knows that not all emails and messages are reliable, even if it looks like it. If they’re using the name of someone you know, always check with that person to make sure. If they’re using the name of a retail store, financial institution or other business, you can call that place and see if the message you received is really from them. 

If you’re making online purchases, use your credit card. 

Credit cards tend to be much safer than debit cards when you’re making purchases online because there’s better fraud protection. Encourage them to keep a close eye on their banking activity as well, especially if they aren’t alerted when purchases are made. Check with their financial institution to see if you can set up bank alerts so they’re notified whenever a purchase is made. This will give both you and your elderly loved one peace of mind. 

Keep your software updated. 

Not everyone understands the purpose or importance of keeping your software up to date, but cybersecurity is a big reason. These updates often include critical patches to security holes along with enhanced features. 

Shop on reliable websites that you know are real. 

There are countless websites out there, many of which are designed to scam you and take your money without sending you an actual product. It can be tricky to figure out which websites are real and reliable and which ones aren’t. Teach your loved one that the best choice is to only make purchases from websites that you know are real, have purchased from before or know someone who has purchased from them successfully. 

When it comes to cybersecurity, it’s always better to be safe than sorry. 

At the end of the day, it’s always better to take the safe route when it comes to cybersecurity. Continue to remind your aging loved one that it’s better to skip out on a supposed “great deal” than have your card information compromised by a website that is unfamiliar. Play it safe, delete unknown emails, avoid clicking on links from unknown senders, be careful what you download and always safeguard your financial information. 

These are reminders that should continue to be mentioned to your elderly loved ones as time goes on. Cybersecurity is extremely important, so we hope this helps you and the people you care about the most! 

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

Online Shopping

Stay Safe While Online Christmas Shopping

With the holidays right around the corner and online shopping more popular this year than ever before, it’s important to keep online safety measures in mind. To avoid issues like identity theft, hacking and financial fraud, check out these important online safety tips.

Always Ship to a Safe Place

Don’t be a victim of porch thieves who steal packages from doorsteps. Make sure someone is home when your package is delivered so it’s not sitting outside for too long. If you won’t be home over the expected delivery date, ship your items to your office or a family member’s house.

Make Sure the Retailer is Who They Say They Are

Some online retailers claim to be selling all the products you want for cheap, but in reality, they just want your credit card information. It’s never a great idea to buy from an unfamiliar retailer, but if you do, make sure you do your research beforehand. Check out customer reviews and consumer feedback first.

Is It Too Good to Be True?

There are always those exciting moments while online shopping when you think you found exactly what you need at the lowest price you’ve ever seen. If the deal seems way too good to be true, there’s a good chance it is. It’s better to spend a little more through a trusted retailer than to give your personal information to an unfamiliar site.

Beware of Public Wi-Fi

Using free public Wi‐Fi is a dangerous game when you’re online shopping. The public airwaves allow hackers to potentially intercept the data you’re sending online, such as your credit card info, name and address.

Don’t Overshare

Some customers have run into situations where a shopping website asks for personal information beyond what’s necessary, such as a social security number. No retailer will ever ask you for your SSN, so if you run into that problem, close the browser and find a more reliable website to purchase from.

Check Your Bank Account

Depending on how crazy you go with your online purchases this year, your bank or credit card statements might be a little longer than normal. Make sure you still go through and check for any fraudulent charges so that they don’t get lost in the other purchases.

Peoples Bank & Trust Co. wishes you the happiest of holidays and we hope your online shopping experience goes smoothly with the help of this information. Visit our website to learn more about the financial services we offer!

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

cybersecurity

Cybersecurity Advice for Retirees

It’s been proven that senior citizens are a much easier target for hackers because older folks didn’t grow up in the current world of technology. Whether you’re a senior looking for some advice or you have an older loved one who you want to look out for, these cybersecurity tips are important for everyone to remember.

Don’t Overshare Information

Social media is a great way to stay connected to family and friends, especially if they don’t live nearby. Keep in mind that what you post online is public for the world to see, so just call or text someone directly if you’re sharing personal
information.

Be Careful Online Shopping

If you’re online shopping and a retailer asks for unnecessary information, be cautious. Keep in mind that no online store will ever ask for your social security number. Also, it’s not a great idea to buy from an unfamiliar retailer, so do your research beforehand and check reviews to make sure the seller is legit.

Use Strong Passwords

As nice as it is to have an easy‐to‐remember password, it also makes it much easier for someone to hack your account. If remembering multiple strong passwords gets difficult, you can use a password manager. Make sure your password:

  • Doesn’t include personal information
  • Includes numbers, special characters, upper and lowercase letters
  • Isn’t too short

Beware of Public Wi-Fi

Using free public Wi‐Fi is convenient but can be a bit dangerous depending on what you’re doing. The public airwaves
allow hackers to potentially intercept the data you’re sending online. This can include intercepting data such as your
credit card info, name and address, so play it safe and use your home Wi‐Fi network for things like that.

Be Cautious with Emails

Spam emails are usually easy to point out, but phishing is where it gets tricky. If you receive an email from an unknown
sender, don’t click on any links or reply without verifying who it is and whether they’re a trusted sender.

Ask for Help

If you have a family member or friend who is tech‐savvy, don’t be afraid to reach out to them for help if you’re unsure of something. When it comes to technology and cybersecurity, it’s better to be safe than sorry.

For all your financial needs, Peoples Bank & Trust ready and willing to assist you. Visit our website to learn more and
contact us with any questions!

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

cybersecurity

Cybersecurity 101 for a Remote Workforce

As remote work becomes more “normal” in today’s world, it’s important to consider the security risks that come with working from home. Whether you’re an employee or manage employees who work from home, these tips will help protect both you and the company you work for.

1. Use a VPN

If you ever must use unsecured or public networks, make sure remote employees are using a VPN. This will encrypt all your internet traffic which prevents outsiders from keeping tabs on your activity. Make sure you do your research and use a VPN that has good speed and stability, otherwise it could slow down your internet speeds.

2. Watch Out for Phishing

We’ve all received a phishing email before, and sometimes they’re obvious to catch. Other times, though, phishing emails look realistic and not like scams at all. Be careful and always check the sender’s email address and content of the email before clicking any links or responding. Another clear sign of phishing scams is when there are spelling and grammar mistakes.

3. Utilize Cyber Training Frequently

There are lots of cyber awareness programs that help track and improve the cyber risk of your team. The training your team completes should go over possible cybercriminal situations, how to handle them, rules for device use, new threats to keep in mind and more. This will help your employees feel more prepared when a cybersecurity issue arises.

4. Keep Devices Locked

Locking your device when you walk away from your workspace is an easy task to forget since it’s not a habit formed when you’re in the office. This is extremely important if you’re working in any public setting like a coffee shop, but you should even lock your devices when you’re at home. Your little one could end up messing with your keyboard and pushing buttons, an untrusted roommate might get snoopy… you never know and it’s better safe than sorry!

5. Use Strong and Secure Passwords

One of the most obvious but most important things when it comes to cybersecurity is using strong
passwords. Make sure it:

  • Doesn’t include personal information
  • Includes numbers, special characters, upper and lowercase letters
  • Isn’t too short

Password managers are a great option since it can be difficult to remember multiple complex passwords. They’ll keep your strong passwords organized and easy to access for your convenience and safety.

As a business, training staff on cybersecurity has become crucial and will only become more important as time goes on. Remote work isn’t going anywhere anytime soon – if anything it will become more common – so now’s a great time to send this article as a reminder to your team of remote workers!

Peoples Bank & Trust Co.
Member FDIC
Equal Housing Lender