Conducting Your Transactions Online
Federal Financial Regulators are reporting that Internet threats have changed significantly over the past several years. Sophisticated hacking techniques and growing organized cyber-criminal groups are increasingly targeting financial institutions, compromising security controls, and engaging in online account takeovers and fraudulent electronic funds transfers.
In order to help ensure the security of your online transactions, we want you to know that:
We will never email, call or otherwise ask you for your user name, password or other electronic banking credentials.
You can help protect yourself by implementing alternative risk control processes like:
- Making sure you choose an adequate user name and password that, at a minimum, mixes in small case letters, upper case letters and numbers.
- Periodically changing your password every 90 days.
- Safeguarding your user name and password information
- Making sure you have a firewall in place when conduction your financial transactions
- Logging off the system when you’re done conducting business; not just closing the page or “X” out of the system
- Monitoring your account activity on a regular basis
In addition, commercial account owners may choose to perform their own risk assessments and controls evaluations.
- Make a list of the risks related to online transactions that your business faces including:
- Passwords being written down and left out in the open
- The use of old or inadequate passwords
- The possibility of internal fraud or theft
- Delays in terminating the rights of former employees
- The lack of dual control or other checks and balances over individual access to online transaction capabilities
- An evaluation of controls your business uses may include:
- Using password protected software to house passwords in
- Conducting employee background checks
- Initiating a policy and process to terminate access for former employees
- Segregating duties among two or more people so no one person has too much access or control
- Conducting internal or third party audits of controls
- Using firewalls to protect from outside intrusion or hackers
Federal regulations provide consumers with some protections for electronic fund transfers. These regulations generally apply to accounts with Internet access. For example, these federal laws establish limits on a consumer’s liability for unauthorized electronic fund transfers. They also provide specific steps you need to take to help resolve an error with your account. Note, however, that in order to take advantage of these protections, you must act in a timely manner. Make sure you notify us immediately if you believe your access information has been stolen or compromised. Also, review your account activity and periodic statement and promptly report any errors or unauthorized transactions. See the Electronic Funds Transfer disclosures that were provided at account opening for more information on these types of protections. If you no longer have access to the disclosures, ask us and we will gladly provide you with a copy.
If you become aware of suspicious account activity, you should immediately contact the authorities and contact us at (580) 562-4871.
How We Protect Your Online Security
The security of your financial information is one of Washita State Bank’s most important responsibilities. We maintain our Internet banking platform using stringent information security guidelines and use many lines of defense to protect your account information. From authentication, SSL, encryption software, high-end firewalls, and automatic log off, your information is always safe and secure.
Authentication ensures that you, the legitimate user is communicating with us and not a fraudster who does not have authority to access your online accounts.
SSL stands for “Secure Socket Layer.” This technology allows users to establish sessions with secure Internet sites, meaning they have minimal risk of external violation. Once inside the Internet Banking site, our use of SSL technology keeps you and your account information secure.
Encryption turns words and phrases into coded language. All of your online activities during an Internet banking session become a string of unrecognizable numbers before entering the Internet. We employ the strongest forms of cryptography that are commercially available for use over the Internet, so your account information will read as gibberish to everyone but you and the bank.
High-end firewalls protect our computer systems interacting with the Internet against unauthorized access by outside individuals or networks.
Automatic log off is done automatically after 10 minutes of inactivity during an Internet banking session. So if you forget to log off after your online session, we will do this for you to prevent anyone else from accessing your account.
From the moment account information leaves your computer to the time it enters our Internet banking system; we take numerous steps to ensure your information is secure in cyberspace. We make sure only authorized people with secure browsers can access our system.
You must enter your password, and we must verify it before you are allowed to access your accounts.
If you are not using the computer normally utilized to access your account (the computer you are using has a different IP address), we will ask you security questions to verify your identity before allowing you to access your account(s).
Only browsers supporting the SSL security protocol with 128 bit can be used to log on to our system.
Once online, we make sure only you can view any information about your accounts.
SSL uses a digital signature to make sure that no one can send you false information; your browser will only accept information from the Internet Banking system.
SSL also uses the highest level of encryption supported by your browser to encrypt all information before it is sent. This ensures that only the browser that logged on can read any information the system supplies.