Category: Cyber Security

Why You Shouldn’t Use Your Debit Card Online

Debit Cards

Now that you can pay for a taxi ride through your phone, order household essentials with the click of a button, and easily pay all your bills online, it’s becoming increasingly easy to depend on the internet for your financial transactions. At Peoples Bank & Trust, we want to shed some light on the various myths surrounding the use of debit cards online. With this information you can keep your information safe and secure while utilizing the latest fintech solutions:

Myth #1: It’s best to use your debit card online to pay for things.

Fact: While debit cards certainly have the capability of use for online purchases, other payment options such as credit cards, offer more advanced security safeguards and a decreased liability for the consumer.

We recommend using your debit card for any in-store purchases and utilizing one credit card for any transactions completed through the internet. This method ensures that should an online purchase become compromised, the safety of your savings, checking, and other bank accounts will remain secure while the credit card company eliminates any unwanted purchases within your account.

Myth #2: Wifi networks, like those found in coffee shops and hotel lobbies, are typically safe to use.

Fact: Many times cyber criminals target these hot spots by searching for potential victims to hack into through the use of a false wifi portal.

To avoid this circumstance, we suggest asking an employee of the establishment to verify the wifi network name and the associated password. In addition to this, it is always best to stick to non-personal sites, and avoid credit card and banking logins, while on public wifi.

Myth #3: If my debit card gets compromised, I will automatically get my funds back.

Fact: Because the funds are yours, the bank acts as a third party to help you file reports and maximize your chance of getting those funds back. However, there is no guarantee of recouping that money if you’re past certain timelines.

The sooner you report a card as lost or stolen, the less liable you are for unauthorized transactions. According to the Federal Trade Commission, if you report the card within two days of learning of its theft or loss, you are only liable for up to $50. However, if you wait up to 59 days after your bank statement is sent to you, you could be liable for up to $500. After 60 days, if the card in question has not been reported, you may be liable for the entire missing amount. To prevent this, we recommend reporting any loss or theft of your debit card as quickly as possible to reduce the potential damage to your personal finances.

After clarifying some common myths about debit card safety, we hope you will be inspired to become a safe shopper both online and offline. Whether you’re curious on how to best use your mobile banking or need to report a lost debit card, our dedicated team at Peoples Bank & Trust is always here to help! Drop us a line or stop by today.

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

The Top Cyber Scams of 2017

Cybersecurity

Each year new technology begins to emerge and make an impact on the way we shop, pay, and manage our money. As mobile becomes more relevant, and Americans begin to understand last year’s cybercrime tactics, hackers have already begun using a new bag of tricks and techniques. To help keep both you and your personal information secure, Peoples Bank & Trust wants to share an updated overview of this year’s most common cyber tactics and how to avoid their tempting lures:

 

  1. Smishing

Smishing is similar to the more commonly referred phishing tactics, however, in these instances, the initiatives are completed through SMS or text messaging. By incorporating a more personal element, hackers have become more dangerous, claiming to be not-too-distant relatives traveling abroad or in other circumstances of need. Sometimes the phone numbers they use may show up as unknown, and other times they may look like they belong to the relative they are claiming to be. To safeguard against this, we suggest always calling the contact you have for your family member to confirm the proposed narrative and ensure you aren’t being scammed in an attempted hoax.

 

  1. IRS Tax Scams

It’s that time of the year, and while many Americans may be waiting until April to file their taxes, countless cyber criminals are already filing fraudulent returns on their behalf. In order to best protect your refund from curious criminals, we recommend filing your federal tax return as soon as you receive all of your filing information from employers and other income sources. While there are many relevant software services to help you file, we always suggest working with a tax professional to ensure you can take advantage of every deduction and new tax regulation.

 

  1. Ransomware

In this scenario, cybercriminals enter your computer through a phishing email or other disguised Trojan horse. Through this charade, they are then able to take control of your computer and change passwords or access codes until a ransom is paid. After any ransom is paid, the victims of this crime hope to get their hardware reset to their original passwords, but unfortunately, there are no guarantees. This crime can be extremely difficult due to the fact that once someone has gained access to your device, most often there is no sure-fire way to know they have removed that access unless you purchase a new device or network. To best safeguard against this, we suggest screening all emails and links before opening to be certain they are coming from a credible source.

 

  1. False Merchandise

Year after year, online and mobile shopping continues to eclipse the traditional brick and mortar retail revenues. The 2016 holiday season only continued this trend, pushing mobile shopping to propel its largest growth compared to prior years. Unfortunately, these increasing online revenues typically come tied to additional cyber crimes as well. There are many instances where spam sites are created using a misspelled version of a common retailer, enticing users to purchase goods that may not truly exist. In these circumstances, we always recommend searching for the retailer on Google, as national retailers typically have organic or paid listing at the top of the search results.

Continue to learn new ways to protect your information online with our monthly cyber security blog! We’ll show you all the in’s and out’s of a safe network, and personal security.

 

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

The Top Cyber Security Myths: Fact or Fiction?

Cybersecurity

The growing concern of cyber security continues to have Americans questioning the safety of their online information. While many cybersecurity statistics are meant to frighten consumers into action, we at Peoples Bank & Trust want to offer some clarification on the most common myths to help you stay safe online:

Myth #1: Every employee can impact your company’s cyber security.

FACT. While the 90s and early 2000’s presented consumers with the obstacles of viruses and malware, today’s issues typically revolve around more prevalent phishing schemes and ransomware. In these instances, a single employee can allow a Trojan email through by clicking its link to release a digital disaster. To most accurately deflect this dangerous risk, it has become paramount to not only train each employee on the safeties of cybersecurity but also hold continuing education as processes evolve as well.

Myth #2: Small and medium sized business are at a lower risk than large businesses.

FICTION. Contrary to belief, there are more small to medium sized businesses targeted in cyber crimes each year compared to their larger counterparts. While bigger corporations offer a larger pool of data and resources, typically smaller operations pose fewer barriers and are presumed an easier target. To help combat this assumption, small and medium business should look to advance their cyber strategy, and implement SBA (Small Business Administration) recommended practices to ensure the best protection for their business’s information.

Myth #4: It can’t happen to you.

FICTION. Even the best scenarios, a cyber-attack could still happen to you. Whether a large entity like Target or Home Depot is affected after you’ve shopped there, or perhaps you’ve clicked on a link that perhaps you shouldn’t have, the truth is, it can happen to anyone. With this in mind, there are preventative measures you can put in place as well as actions you can take after your information is compromised. To be more proactive in responding to these issues, we recommend checking your credit and debit transactions twice a month for fraudulent charges. This ensures any reported errors are acted on in a timely manner.

 
If you still have questions on the best cyber security practices for you or your business, stop by your nearest location today. We’d love to talk with you and see how Peoples Bank & Trust can your protect your financial information.

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

4 Ways to Keep Your Information Safe While Using Apps

Cybersecurity

Did you know that people check their phones over 150 times each day? Unsurprisingly users spend the majority of their time in apps. Although it’s addicting, it can cause potential problems. To help you stay safe on your mobile device, Peoples Bank & Trust Co. offers these four tips to keep your information secure:

Don’t use personal information in your username. This common mistake can be a red flag for hackers looking to access your information. Usernames with this type of format often lead online predators to accessing your account and spamming your contacts. Avoid this dilemma by creating a monotonous username that doesn’t include your name, location, family, or pets.

When starting a new app, don’t allow it connect to Facebook. In the unfortunate event of your Facebook account becoming compromised, you then also have every app attached to it compromised. To combat this risk, make an individual account for each app.

Never share your personal information with other users. Often times, apps offer their own in-house messaging service for users to communicate with each other. If you’re talking with another user, or booking a service, never give your personal information such as a credit card or social security number. If the app is authentic, they should have a separate portal for any transactions that does not need to be facilitated through a messenger.

Sign-out and close the app after use. Once you’re finished with the app you’re using, be sure to close it entirely. While many users simply switch to other screen views, completely closing out of it eliminates the risk of background tasks going on while you’re unaware. Although this is not a common occurrence, it does offer an additional safety measure to continually safeguard your information.

Enjoy the latest apps and innovations your smartphone has to offer while keeping your information secure. If you’d like to learn more about cyber security, be sure to check our blog for monthly security articles!

 

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

National Cyber Security Awareness Month

Security

Did you know unsecure Wi-Fi and passwords could leave your personal information vulnerable? This October be sure to double check your online security with these helpful tips courtesy of Peoples Bank & Trust!

  • Keep your personal and business computers safe by installing and monitoring an active malware and spyware program.
  • If your family all uses shared devices or Wi-Fi, set ground rules for appropriate online behavior. Show your children how to steer clear of weary links, and set-up parental locks to help keep them safe from known predatory sites.
  • For those accounts containing your most valuable information, be sure to change your password every month, using 13 or more characters, uppercase letters, lowercase letters, numbers, and symbols. Phrases work great for this! Instead of using I love puppies – you could try iL0vEPupp!Es as the password.
  • Monitor your Online Banking and credit card statements. If something seems out of the ordinary, chances are it probably is. If you see something that doesn’t look right, contact your financial representative as soon as possible.
  • Keep all your important documents off the grid. Items such as birth certificates, social security cards, or home deeds need to be kept where no one but you can access them. You can store them at home in a fireproof vault, or keep them within one of our secure safety deposit boxes.

The annual cost of Cybercrime in the United States is rising. Currently over $100 Billion dollars, this an epidemic that creates issues for millions of Americans each and every year. Protect your family’s finances by taking a proactive approach to your cyber security today!

Our trusted team at Peoples Bank & Trust is here to help secure your personal information. If you’d like to learn more about how to can safeguard your identity and finances, head to our website!

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

5 Ways to Protect Your Information with Mobile Payments

mobilepayment

With technology growing at an endless rate, consumer payment options have never been more diverse! As new offerings emerge, such as text transfers, person to person payments, and mobile banking, users now have the capability to complete daily transactions from the comfort of their smart phone. These new capabilities come with added vulnerabilities. At Peoples Bank & Trust we’re here to help you enjoy your new technology, while still remaining safe behind your smart screen. Use these five key tips to keep your personal information secure.

  1. Only Use Your Credit Card on Apps

While your debit card will work for these applications, attaching your bank account to a payment app outside of the bank’s products could be compromising your personal finances.

  1. Stay Off of Cell Phone Towers or Public Wifi When Paying

Although it can be tempting, try to only use your payment apps while you’re on a personal and secure network. The internet connection from local cell towers or public wifi is open to a variety of users. These users may intercept your personal information, gaining access to your valuable personal information.

  1. Set a New, Unique Password Every 1-3 Months

Sometimes, the simplest things can make the most difference. By actively setting and changing your password, you can protect your device from leery predators. A good rule of thumb is to have at least eight characters with at least one capitalized letter, one number, and one symbol. The more often you change your password, the better, but for the average consumer, once every few months a great rule to stick to!

  1. Use Official Apps Only

Have you ever searched for an app only to have five with the same name appear? This is the tricky part of managing your online security. Before downloading an app, be sure to read the reviews, and verify that it is the correct payment app you are searching for. If you’re unsure call the company, or check their official website.

  1. Watch Your Statements & Report False Activity

If you see something, say something! By continually checking you bank statements and online banking transaction, you can stay on top of your account information. If something looks out of place, or isn’t within your spending pattern, call the bank immediately to begin reparative measures.

 

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

 

Starting a New Business Safely – Cyber Security Tips

Cyber Secuity

Whether you’re a successful serial entrepreneur, or an aspiring small business owner, setting up a new business venture is never a simple process! Once your brick and mortar shop or office has been finished, it’s time to add the hardware, and get your business online. Easier said than done. Everyday technology continues to grow, and so do the potential problems associated with it. In order to keep your new business secure, follow these key set-up tips courtesy of Peoples Bank & Trust.

  1. Assess Your Business’ Risk. Find out what data or files your business absolutely needs to operate. If you will be handling personal information on behalf of your customers it is always a good idea to know the specific stipulations you need to abide by.
  2. Create a Secure Network. Whether you’re building your online network through ethernet or wifi, be sure to protect your data with password-protected logins, antivirus software, and reliable information backups.
  3. Have an Employee Policy. For everything from mobile devices, to social media, make designated rulings on how employees should use these tools throughout the workday. If wifi is available for employee use, consider a guest network that is not connected to your data storage just in case of an unexpected incident.
  4. Make Payments Safely.  Now that the U.S. is upping its safety standards, you’ll need to update your processing systems. With the new EMV chip cards, this means decreased liability for business owners, but potentially higher set-up costs. Offering convenient transaction options is paramount in the business sector, learn how to get started HERE.
  5. Continually Educate Employees. Every time there’s a technology-oriented change in equipment or software, ensure your team is using the update properly. By providing continual education on your company’s hardware, internal systems, and new technology, you increase your employees’ knowledge on dangerous online safety hazards.

If you’re looking to start your new business venture, bring your business plan to Peoples Banks & Trust today! With financing options for all sizes, we have the perfect lending plan for your new business.

 

What to do if Your Identity is Stolen

Stolen Identity

With fraud alerts, identity protection, and chip enabled cards, you’d think it would be near impossible for a stranger to swipe your personal information. Unfortunately it’s easier than you think! Other than preparing yourself with preventative measures there is no sure fire way to make sure your identity remains safe and secure. If you ever experience the unfortunate circumstance of having your personal information stolen, be sure to stick to these five actions when working to regain control of your personal information:

  1. Contact one of the three credit agencies (Experian, Equifax, or TransUnion) to place a fraud alert on your credit report. This will ensure that any unauthorized loan applications or fraudulent charges won’t affect your personal financial reputation.
  2. Call your bank and credit card companies to freeze your account and cancel your current cards. This puts your account of the defense, securing your funds, and not allowing any prior cards or pending transactions to go through.
  3. Change your password on your online banking. If they have your digital information it’s always best to reset the locks and keep your online account protected.
  4. Create an official Identity Theft Report through the Federal Trade Commission and your local police office. This document is comprised of an Identity Theft Affidavit and a standard police report.
  5. Dispute any charges you didn’t make with either your bank or credit agencies and don’t delay! By reporting these false charges you can help keep your finances safe and on track.

Navigating through the chaos of identity theft is a confusing process. Should you have questions, or need clarification, please call us at (636) 528-7001 and we’ll be happy to help!

Peoples Bank & Trust Co.

Equal Housing Lender

Member FDIC

Top Phishing Scams to Watch-out for

cyber security

Phishing is a common term for the unfortunate schemes hackers and online criminals use to lure users into giving their personal information. Typically disguised as familiar online activity, these scam artists have cleverly found several distinctive ways to attempt to trick YOU into handing over your private details. Be on the lookout for these common phishing scams next time you’re roaming the web!

  1. Foreign Lottery Scam

With this tactic you generally receive an email informing you that you have just won the lottery of some far-away land! To obtain these exorbitant funds you simply have to send a small fee to cover the transfer cost. A simple google search will show that this thrilling lottery is no more than phony website with a long distance phone number. Typically if the sending address doesn’t look familiar, or if you have not applied to any foreign lotteries, it will be a dead giveaway that this email is just an attempt to get your money and your information.

  1. Survey Scam

Do you like supporting the humane society or other animal organizations? This scam takes advantage of your online history and sends you a survey to submit your opinion on issues that matter to you. Instead of using your responses on animal treatment, this system discovers your email address, and other relative personal information, to hack your account and send out further spam emails.

  1. Online Banking Scam

Most phishing schemes disguise themselves as something familiar, often even PayPal or your personal bank. This particular scam typically indicates that some type of immediate action is needed, and your account is at risk. Before sending any type of reply communication check the source of the email, and call your personal contact at the organization to see if the email is legitimate. If you question the validity of any portion of the email, delete it and call the company this con artist is attempting to masquerade as ASAP.

  1. Clickbait

Social media has a hacking arena all its own. With links scattered across newsfeeds, it’s often hard to determine what is genuine and what is clickbait. Clickbait is a link generated to provoke common controversial issues to get you to click on it. Once clicked, the link may switch to a Facebook login, where you login again. Unfortunately this false login page is a common maneuver by cyber criminals for you to share to valuable social media login. Having this information, online criminals can now access your account and spam the people you are connected with.

If you think you’ve been a victim of an online phishing scam and your personal banking information has been compromised, call Peoples Bank & Trust so we can help you watch for signs of identity theft on your bank accounts.

Peoples Bank & Trust Co.

Equal Housing Lender

Member FDIC

 

Guard Your Information Online with These 5 Tips

fraud protection

With hackers and scammers out amongst the pages of the internet, how do you browse safely? There are many tips and tricks you can use while on the internet to better maintain the security your personal information needs. See how to bolster your online bodyguard with these simple and helpful tools!

Enable the great wall: Your computer has all kinds of ways to block attacks you don’t even know are happening. Most hardware comes with firewalls pre-installed, but you can purchase extra software packages for maximum protection and peace of mind. Read up on the type of protection that comes with your original device, and double check that settings are running and prepared for battle.

Secure your connection: Lending your neighbor a cup of sugar is one thing, but sharing a WiFi connection is pushing it. As a rule, don’t let non-residents jump on your home’s internet connection. Not only does it slow your bandwidth, but it makes it easier for others to sleuth around your computer. If you’re using a public access WiFi, keep your internet use to information searches rather than information transactions for the same reason.

Get cryptic: Birthdays, Social Security numbers and phone numbers are easy to remember – but they’re even easier to hack. A solid password should contain upper and lowercase letters, as well as numbers and special characters when allowed. Make sure to mix up username-password combinations, too. If one account is compromised, you don’t want greedy hands to have access to all account as well.

Avoid PDA: Public Displays and Access on computers at libraries and kiosks are handy in a pinch, but don’t rely on them for major personal use. You’re at the hands of the third party who owns the device, and it’s not guaranteed that their firewalls are activated or their software secured. If you can help it, don’t input personal information, even if on a secured site, as you never know the activities of users before and after you.

Cover your everything: Most mobile devices nowadays are miniature computers that happen to make phone calls. Use the same precautions with phones and tablets that you would with a computer, and enable a password lock for your device in the event of theft or loss.

Your online security is only as strong as you make it. Make time this month to strengthen your defenses to prevent fraud or identity theft from happening to you.

Peoples Bank & Trust Co.

Equal Housing Lender

Member FDIC