Contact us
Careers
Locations
Help
It is very important to safeguard personal and banking information. The following are some new fraud trends pertaining to Credit Cards:
· Fraudsters make investment scams seem like an easy way to make money, reaching out claiming they have the perfect way to turn an investment into a no-risk and definite profit. These scams often are conducted through applications or websites that appear legitimate. Once the victim commits the funds, the scammer gets away with the money leaving the victim empty handed.
· Employment scams pop-up when individuals are searching for work and need a job; it’s the perfect opportunity for fraudsters. Job hunters may come across a fake posting with a great opportunity for remote work with little time needed on the applicant’s part, like package reshipping, mystery shopping, or online assistant roles. Red flags for these scams are any company that requires applicants to pay for the application or training fee or hire applicants without an interview or further communication.
· With so much data exposed on the web, impersonation scams are rampant. These come disguised from a business, government agency, or vendor you may work with but are in-fact spoofed with fake data. Emails often create a sense of urgency to send money or make a payment. Sometimes they will even ask victims to deposit a check and then say they will refund the balance. If something doesn’t seem right, hang up and call the phone number you have on file for the individual or business, never rely on the phone number listed in the email. If you receive an email or text message (or other message) that is unexpected, always call to verify the information with the individual or vendor.
ACH Security Tactics
If you ever receive an email stating a recipient’s ACH information has changed, or any time you
receive payment information via email – call them to validate the information with the phone
number you have on file, not the phone number listed in the email. ACH account change
information through email is a very common ACH fraud tactic that could put you at a loss position.
You must always know that where you are sending funds is where it should be going.
This is why strongly encourage you to send either a prenote or a microcredit. A prenote is a $0.00
test file that validates that the account and routing number exist. A microcredit goes one step
further. You send a random amount between $0.01 and $0.99 to your recipient and once they
receive it, you ask them to tell you how much they received. This validates that you have found the
correct account and routing number.
Dual-Control is your first line of defense to prevent fraud as it requires two people to review the file
before it leaves your organization. It is also important to establish internal processes to control
money movement within the organization. Following this process in all situations is another layer
of security to protect yourself from fraudulent activity.
The ACH Rules require each Originator to establish data security policies and procedures. You
must ensure the integrity and confidentiality of all physical and electronic protected information
obtained from Receivers.
Please also note that all ACH Originators are required to follow the NACHA (National Automated
Clearinghouse Association) rules per the Terms and Conditions. For your convenience, a summary
of information, updates and upcoming changes can be found via our website
https://pbandt.bank/nacha-rule-changes/. For more information, the complete NACHA rules are
available online here: https://www.nacha.org/rules.
We also have useful security information on our website https://pbandt.bank/?s=security
Below is a list of websites about information security and fraud prevention:
OnGuardOnline.gov
This website was created by the federal government to help people be safe, secure, and responsible online. This website is part of the National Initiative for Cybersecurity Education.
National Cyber Security Alliance
NCSA’s mission is to educate and therefore empower a digital society to use the Internet safely and securely at home, work, and school. This website provides information and educational programs for protecting the technology individuals use, the networks they connect to, and their digital assets.
US-CERT – Cyber Security Tips
This website is published by the United States Computer Emergency Readiness Team (US-CERT) and describes and offers advice about common security issues for non-technical computer users.
Federal Trade Commission – Privacy & Security
The Federal Trade Commission (FTC) website contains a Privacy & Security section containing a list of facts for consumers, articles, consumer alerts, and more.
Deter, Detect, and Defend Against Identity Theft
This website, published by the Federal Trade Commission (FTC), is a national resource to learn more about the crime of identity theft. On this site, consumers can learn how to avoid identity theft and learn what to do if their identity is stolen.
BBB Data Security – Made Simpler
The Better Business Bureau (BBB) created this website specifically to educate small businesses on the most common data security issues they face. Data security guidelines and suggestions are presented to help improve the security posture of small businesses.
Bureau of Consumer Protection – Data Security
The Bureau of Consumer Protection Business Center website contains a data security section with material to help people learn how to secure their information. The website section contains a list of educational documents discussing information security, information about data security related laws, reports, workshops, and more. It also has an interactive tutorial over protecting personal information.
Small Business Information Security: The Fundamentals
This guide was published by the National Institute of Standards and Technology (NIST). The guide identifies recommended practices to improve information security in small businesses.
NACHA Current Fraud Threats
This website has been created by the National Automated Clearing House Association (NACHA) to help companies identify and address current fraud threats. The documents and resources available through this site have been developed to assist companies of all sizes in the development, implementation, and review of their security procedures.
FDIC Cyber Security Guide for Consumers
This brochure was created by the Federal Deposit Insurance Corporation (FDIC) to assist with educating consumers about cyber security.
FDIC Cyber Security Guide for Consumers
FDIC Cyber Security Guide for Businesses
This brochure was created by the Federal Deposit Insurance Corporation (FDIC) to assist with educating businesses about cyber security.