What You Need to Know About Ransomware

As ransomware - a form of malware - becomes a growing problem for both individuals and businesses. This infographic can educate consumers on how to identify and prevent financial loss as a result of this type of cybercrime. 

Ransom can affect individual computers or laptops, enterprise networks or servers used by goverment agencies, financial institutions and health care providers. In a typical ransomware scheme, cyber criminals freeze the victim's device, steal data and demand that a "ransom" be paid. 

FBI Issues Warning about Email Scams 

The FBI last week issued a notification to warn companies of the ongoing threat of business email compromise (BEC) scams that caused losses of nearly $76 million between December 2015 and March 2016. The notice outlines common types of BEC scams, steps businesses can take to mitigate their risk and what to do if they fall victims to this type of cybercrime. 

The FBI noted that in most BEC scams, fraudsters typically target businesses that work with foreign suppliers or regularly transmit payments through wire transfers. Once the victim company is selected and compromised -- often through social engineering or computer intrusion techniques -- the fraudster conducts surveillance to understand the company’s processes and protocols and identify those with the authorization to perform or authorize these transactions. The fraudsters then compromise and assume control of the victim’s legitimate email account and, posing as the employee, instruct others to transact on their behalf.

The Stephenson National Bank & Trust feels that it is important to alert the community to scams and fraudulent activity. Awareness is the key to avoiding being victimized by these types of crimes.

Any legitimate financial institution will NEVER ask you to verify your personal account information. Remember, keep any your personal information such as PIN, C redit or Debit Card number, and  Social Security number in a safe location.



How SNBT Protects You:

SNBT uses a combination of safeguards to protect your information:

• Federal Regulations - Are required of banks, but there are no similar requirements for retail stores
• In-depth Incident Response Program - We've planned ahead and created a roadmap on how to respond to various situations that may arise
• Employee Training - Occurs regularly so every employee understands the importance of keeping your information secure
• Strict Privacy Policies - We give you a copy and post online, they explain what information we can and cannot share
  
• Rigorous Security Standards - Regarding how we operate online and within every bank office
• Software Encryption Systems - Regularly monitored, tested, and upgraded

We offer other protections to our customers including:

Fraud Detective  -  We have an automated system that monitors your ATM and Debit Card transactions for potentially fraudulent activity. If a threat is discovered, you should receive an automated phone call that will verify whether recent transactions are fraudulent.

Verified by Visa and MasterCard SecureCode  -  Depending on which type of card you carry, you can register your card for this service. It provides another layer of protection while shopping online.

Green Bar Protection  -  Enacted last year, it offers security you can see when using Bank Online or shopping on the Internet.

Pick Your Own ATM & Debit Card PIN - You control your card's security and can change your own PIN by calling 1-800-567-3451

Infographic: What are Bankers Doing to Protect Your Money?

How You can Keep Personal Information Safe

Monitor Accounts Frequently. Waiting for your monthly statements to arrive may be too late. Instead, routinely monitor your bank and credit accounts by enrolling for online banking or mobile banking . Use these services to watch for suspicious activity, stop unauthorized transactions before they get out of control, and report problems to SNBT immediately.

Advice about Changing Passwords After a Breach:  If you have been notified that your information has been compromised, the first step you should take is securing your email account by changing that password. Your email is typically where all password resets for other accounts are sent. If a hacker has compromised those other accounts, it's possible they may have gained access to your email as well. So the best advice is to secure the most critical account first, then all your other accounts. 

Security Tips to Protect Yourse lf Online