Designed for your busy schedule, each of our fraud prevention tips takes only a minute read.
To Report Fraud
Call Priority Service at 800.788.4578
TO BLOCK A DEBIT OR CREDIT CARD AFTER HOURS:
Call Priority Service at 800.788.4578 and follow the prompts to Card Services to block your card.
* Please also call Priority Service during business hours to arrange a replacement
5 WAYS TO PROTECT YOUR SMALL BUSINESS FROM ACCOUNT FRAUD
Corporate account takeover is a type of fraud where thieves gain access to a business’ finances to make unauthorized transactions, including transferring funds from the company, creating and adding new fake employees to payroll, and stealing sensitive customer information that may not be recoverable. Washington Trust Bank recommends following these tips to keep your small business safe.
- Educate your employees.
You and your employees are the first line of defense against corporate account takeover. A strong security program paired with employee education about the warning signs, safe practices, and responses to a suspected takeover are essential to protecting your company and customers.
- Protect your online environment.
It is important to protect your cyber environment just as you would your cash and physical location. Do not use unprotected internet connections. Encrypt sensitive data and keep updated virus protections on your computer. Use complex passwords and change them periodically.
- Partner with your bank to prevent unauthorized transactions.
Talk to your banker about programs that safeguard you from unauthorized transactions. Positive Pay and other services offer call backs, device authentication, multi-person approval processes and batch limits help protect you from fraud.
- Pay attention to suspicious activity and react quickly.
. Look out for unexplained account or network activity, pop ups, and suspicious emails. If detected, immediately contact your financial institution, stop all online activity and remove any systems that may have been compromised. Keep records of what happened.
- Understand your responsibilities and liabilities.
The account agreement with your bank will detail what commercially reasonable security measures are required in your business. It is critical that you understand and implement the security safeguards in the agreement. If you don’t, you could be liable for losses resulting from a takeover. Talk to your banker if you have any questions about your responsibilities.
You can also visit the following websites to learn more about how to protect your small business:
- U.S. Chamber of Commerce: Internet Security Essentials for Business http://www.uschamber.com/issues/technology/internet-security-essentials-business
- Federal Communications Commission: Small Biz Cyber Planner http://www.fcc.gov/cyberplanner
- Federal Communications Commission: 10 Cybersecurity Strategies for Small Business http://www.uschamber.com/sites/default/files/issues/defense/files/10_CYBER_Strategies_for_Small_Biz.pdf
- Better Business Bureau: Data Security Made Simpler http://www.bbb.org/data-security/
- NACHA – The Electronic Payments Association Corporate Account Takeover Resource Center https://www.nacha.org/content/corporate-account-takeover-resource-center
12 WAYS TO PROTECT YOUR MOBILE DEVICE
Your mobile device provides convenient access to your email, bank and social media accounts. Unfortunately, it can potentially provide the same convenient access for criminals. Washington Trust Bank recommends following these tips to keep your information – and your money – safe.
- Use the passcode lock on your smartphone and other devices.
This will make it more difficult for thieves to access your information if your device is lost or stolen.
- Log out completely when you finish a mobile banking session.
- Protect your phone from viruses and malicious software, or malware, just like you do for your computer by installing mobile security software.
- Use caution when downloading apps.
Apps can contain malicious software, worms, and viruses. Beware of apps that ask for unnecessary “permissions.”
- Download the updates for your phone and mobile apps.
- Avoid storing sensitive information like passwords or a social security number on your mobile device.
- Tell your financial institution immediately if you change your phone number or lose your mobile device.
- Be aware of shoulder surfers.
The most basic form of information theft is observation. Be aware of your surroundings especially when you’re punching in sensitive information.
- Wipe your mobile device before you donate, or trade it using specialized software or using the manufacturer’s recommended technique. Some software allows you to wipe your device remotely if it is lost or stolen.
- Beware of mobile phishing.
Avoid opening links and attachments in emails and texts, especially from senders you don’t know. And be wary of ads (not from your security provider) claiming that your device is infected.
- Watch out for public Wi-Fi.
Public connections aren't very secure, so don’t perform banking transactions on a public network. If you need to access your account, try disabling the Wi-Fi and switching to your mobile network.
- Report any suspected fraud to your bank immediately.
7 TIPS FOR PROTECTING YOURSELF ONLINE
Though the internet has many advantages, it can also make users vulnerable to fraud, identity theft and other scams. According to a Norton Cybercrime Report, 378 million adults worldwide were victims of cybercrime in 2013. Washington Trust Bank recommends the following tips to keep you safe online:
- Keep your computers and mobile devices up to date.
Having the latest security software, web browser, and operating system are the best defenses against viruses, malware, and other online threats. Turn on automatic updates so you receive the newest fixes as they become available.
- Set strong passwords.
A strong password is at least eight characters in length and includes a mix of upper and lowercase letters, numbers, and special characters.
- Watch out for phishing scams.
Phishing scams use fraudulent emails and websites to trick users into disclosing private account or login information. Do not click on links or open any attachments or pop-up screens from sources you are not familiar with.
- Forward phishing emails to the Federal Trade Commission (FTC) at firstname.lastname@example.org – and to the company, bank, or organization impersonated in the email.
- Keep personal information personal.
Hackers can use social media profiles to figure out your passwords and answer those security questions in the password reset tools. Lock down your privacy settings and avoid posting things like birthdays, addresses, mother’s maiden name, etc. Be wary of requests to connect from people you do not know.
- Secure your internet connection.
Always protect your home wireless network with a password. When connecting to public Wi-Fi networks, be cautious about what information you are sending over it.
- Shop safely.
Before shopping online, make sure the website uses secure technology. When you are at the checkout screen, verify that the web address begins with https. Also, check to see if a tiny locked padlock symbol appears on the page.
- Read the site’s privacy policies.