Category Archives: Preventing Identity Theft

Are You Smart About Smartphone Financial Security?

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All of us are creatures of convenience, and that extends to our finances. It’s not enough to access online banking, budgeting tools, and retailer websites from home — we want them on our mobile devices, too. But, just as browsing the web from home can expose our finances to ever-evolving cyber threats, using mobile apps can too. Though personal devices may seem more secure than a public computer, hackers can still find ways to get into our phones and steal sensitive financial information.

Are you smart about smartphone financial security? If not, following these tips is a good place to start.

1. Use Those Optional Security Measures Like Touch ID

Are you someone who’s been stubborn about setting up a passcode or Touch ID to open your phone? It’s a little less convenient, but the extra step is also the first line of defense for your personal information.

2. Add Extra Security Measures to Financial Apps

Besides your smartphone’s overall security, it’s important to protect access to financial information on your phone housed in banking account apps, account linked financial management apps, and digital wallets. Setting up additional features like passcodes (or Touch ID) for each financial app provides another line of defense if your phone is lost or hacked. As with all personal accounts, choose unique passwords, update them regularly, and keep them in a secure location (a.k.a., not in your phone!).

Some smartphones also allow you to at least partially block Internet access and ad tracking mechanisms on a per-app basis to protect your information from outside threats.

3. Know Your Smartphone’s Vulnerabilities

Whenever there’s a major data breach, tech companies inform the public of who could have been affected where, when, and how. There’s similar information available on which smartphone operating systems, browsers, and other tools have been (or could be) vulnerable to various types of cyber threats and attacks. You don’t have to be super tech-savvy to search for your phone’s systems and look at the risk scale and number of vulnerabilities. You can also check out consumer-focused technology blogs and news sites.

4. If You’re in the Market for a New Smartphone, Consider Security Features

The older your phone is, the less security features it’s likely to have and the more vulnerable it is to hackers. If you’re already due for a new smartphone, make security a priority. Some features will be standard, but smartphone security differs widely based on model and operating system (OS). Check for reviews and explanation of security features, and choose the level of security that best fits the way you use your smartphone.

A simple (and free) thing you can do in between upgrades is to promptly install any system updates. Some of them are just for new features or speed, but others could be correcting security vulnerabilities.

If at any time you feel any of your First Financial accounts may have been compromised due to a smartphone or online vulnerability, contact our Member Relationship Center right away at 732.312.1500, Option 9. If your First Financial credit or debit cards were compromised in a scam, call the 24/7 toll-free number on the back of your card to report the incident and replace your card. All important phone numbers for members can be found on the Contact Us page of our website.

Article Source: Jessica Sommerfield for Moneyning.com

Lost Cell Phone? Here’s How to Keep Your Finances Safe

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We depend on our cell phone for so many day-to-day tasks that go beyond communication. We keep track of our appointments, monitor our healthy lifestyle, and stay updated on breaking news. Additionally, our cell phones have become a hub for managing our finances.

The Federal Reserve reports that Americans use their smart phones or other mobile devices for a variety of monetary activities.

    • 51% of smartphone users had used mobile banking.
    • 24% of smartphone users had made a mobile payment.
    • 38% of mobile phone users had deposited a check using their phone.

Financial apps have made it faster and easier than ever to access your money on the go, and view all your financial information right from the palm of your hand.  But, what dangers could arise if you are one of the 5.2 million people who, in a year’s time, lose their smart phone or have their smart phones stolen? How can you protect your finances in the event that your cell phone ever goes missing?

Before your phone is ever compromised, take these precautions to prevent strangers from accessing your phone or the programs and apps it holds.

Passcode Protection: 62% of smartphone owners don’t have a passcode set to protect their phone. You should always set your phone or mobile device to lock when it’s not in use, and set a secure passcode or password for access to your phone. Some smartphones now let you take security even further and utilize your thumbprint or facial recognition to unlock your phone.

Activate Find My Phone: The Find My Phone feature on your smartphone allows you to quickly trace your phone’s location if it ends up missing. Your operating systems may also offer a lost mode. With this feature, you can send a message to your home screen asking anyone who finds your phone to call to you at a specified number.

If your smartphone is lost, quick action can be the difference between saving your financial information or months of headache if your accounts are accessed by a stranger. Take these actions as soon as you realize your phone is gone.

Contact Your Financial Institution: Let your financial institution, credit card companies, and lenders know your phone or device is missing and someone may have access to your account information. They can flag your account as “compromised,” freeze your accounts, or monitor suspicious activity.

Change Your Passwords: Use your desktop computer or another mobile device to reset the passwords for your online banking or payment tools. Also reset your email password. This way if someone uses the “Forgot My Password” feature on any financial app or website, they cannot access your email and reset your passwords themselves.

A Final Tip: Always log out of financial websites or apps before you close out of them. Keeping yourself logged in or enabling auto sign-in means that your information is easily accessible, even if you’re not the one holding your device.

If you feel that any of your First Financial accounts may have been compromised as a result of a lost or stolen cell phone, please contact our Member Relationship Center at 732-312-1500, Option 9 Monday through Thursday 8:30am-5pm EST, Friday 8:30am-6pm EST, or Saturday 9am-12:30pm EST.

Article Source: Kara Vincent for CUInsight.com

Top 10 Ways to Prevent Cyber Crime at Work and Home

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Cyberattacks are unfortunately a common occurrence and on the increase. In fact, an average of 200,000 new malware samples are discovered daily, presenting an ominous threat to consumers at work and at home.  The following is a list of the top 10 cyber security tips.

1. Don’t click on emailed links. Instead, type the website URL directly into the web browser’s address bar, or search for the site using a search engine like Google.

2. Avoid opening any attachments you were not expecting. However, if you must – scan the attachment first for viruses.

3. Keep computers patched and up to date. This includes operating systems like Windows and iOS, and applications such as Adobe and Java. Keep antivirus software up to date on all devices, including phones.

4. Clean your desktop and your desk. Lock your screen whenever you leave your workstation or office. When you leave work for the day, lock all paperwork in your file cabinets. Everyone has a smartphone camera today, you always want to be cautious with sensitive documents and information.

5. Double check your work. Breaches can easily occur due to simple miscommunication. For example, someone within a company thinks another person has changed the password – and vice versa.

6. Shred it. This goes for any paperwork you are no longer using at work and at home.

7. Use different passwords for different sites. For personal use, consider using a password tool that allows you to set different passwords for each site you frequent, while only requiring you to remember one strong password.

8. Beware of phishing scams. Unlike common spam, a phishing email is after personal data and will likely have a sense of urgency, asking you to click here, act right away – the offer is time limited. Delete any emails that don’t sound right to you.

9. Avoid oversharing. The most common consumer threat today is social engineering in unexpected places like Facebook. Don’t answer questions on where you went to school, whether you have ever done something, or what your nickname is. This information can be used to break into your accounts.

10. Consider turning Siri off, and Amazon Echo, Alexa, and all the new devices that are listening and recording. You need to have a healthy suspicion of where this data is going. It might not be going where you think it is.

Ultimately, we should all strive to be good net neighbors, protecting our own identity at work and at home. This means taking care of ourselves so we don’t get infected and harm others. The threat is real, but following the right security protocols can dramatically reduce our risks.

Article Source: Colette L’Heureux-Stevens for Co-Op Financial Services

Traveling with Your Credit Card: Safety Precautions to Consider

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It’s summer, which means that many of us are packing up our bags and heading for the hills (or the beach, or the museums). The last thing you want to worry about is your credit card.

Unfortunately, all too many of us face hassles with credit card security while traveling — especially during trips abroad. These problems can range from the annoying to the devastating, but most of them are very preventable. Here’s how to have a worry-free vacation.

Pre-departure Preparations

You wouldn’t leave home without booking your flight or packing your bag, and credit card security is just as important. Make sure to add a few credit card specific tasks to your pre-departure list.

  • Call your card issuer to notify them of your travel plans.

Many credit card issuers have built-in fraud protection that could shut down your card if it’s used outside of your normal purchase pattern. The last thing you want is to have your card denied at that fabulous Italian bistro, so give your card issuer a heads up.

  • Do some research regarding foreign transaction fees.

If you carry multiple credit cards, you should know that there might be a wide variation between your cards when it comes to foreign transaction fees. Call your card issuers or do some digging online to compare fees.

  • Learn how to contact your credit card issuer while abroad.

Toll-free numbers don’t typically work abroad, so you’ll need a different way to contact your credit card issuer if you encounter problems during your travels. Some cards have international numbers printed right on the back. If yours doesn’t, call them up before you leave and ask them what number to use. Write down this number and keep it with your travel documents.

  • Make copies of the front and back of your credit cards.

This is one step that’s frequently overlooked, but if your cards are stolen, having photocopies can be very helpful. Many travelers also do this for passports.

  • Make sure your card will be accepted abroad.

Not all cards are taken around the world. Consider getting an EMV chip card (if yours doesn’t already have this feature), which is more widely accepted abroad – especially in Europe.

EMV Chip Cards

EMV security chip cards are fairly new to the U.S. market, but they have become the go-to standard in other countries. These cards feature embedded microchips that can hold a large volume of dynamic data. They also require entry of a pin in order to complete a transaction, and that means that a thief who simply has your card number can’t use your card.

If you bring an American swipe card abroad, expect it to be rejected at several common locations, including:

  • Gas stations
  • Parking meters
  • Many merchants and retailers
  • Destinations in Europe other than major cities

Handling Your Credit Card While Abroad

So you’ve taken all the precautions before boarding the plane: what about when you’ve reached your destination? There are several steps you can take to avoid fraud, theft, and unnecessary trouble abroad.

  • Avoid use of your credit card in less-than-secure situations.

The street vendor may have a lovely smile and even better food for sale, but this probably isn’t the best place to pull out your credit card.

  • Have your travel companion carry a different card as a back-up.

Even if you plan on relying primarily on one card, it’s not a bad idea to have a back-up along — and to have it carried by someone else. That way, if your wallet or money carrier is lost or stolen, you aren’t completely out of luck.

  • Keep your credit card in sight.

Try to hand your credit card directly to the person who will be processing the transaction. You’ll want to avoid situations where someone takes your card out of sight to process a transaction, because that scenario makes it easy for them to steal your information.

  • Be cautious with ATMs.

ATM fees can be extremely steep for international transactions. In addition, many foreign ATMs (especially outside of western Europe) are not as secure as we may expect from our U.S. counterparts. If you are traveling abroad and you must use an ATM, choose one that is attached to a legitimate business (preferably a bank).

  • Carry cash or travelers checks as back-up.

Try to carry enough local currency or traveler’s checks to get by each day (but not so much that you’re a ripe target for muggers). Credit cards are convenient, but if yours is declined or stolen and you don’t have an alternative method of payment available, you won’t think it’s very convenient. Look into getting a discreet carrying pouch specifically designed for passports and money, which is much more secure than a wallet or purse.

  • Document everything.

Keep receipts of all purchases in case mysterious charges are added to your account later. Keeping receipts also helps with expense tracking, so you can stay on budget.

The Bottom Line

This list may have left you a little uneasy. Don’t worry — you’ve already taken the first step by informing yourself. Credit cards are usually part of the solution — not the problem, when you’re traveling abroad. All you have to do is take proper precautions and exercise a bit of due diligence. Just think about how much more relaxing that well-deserved vacation will be, knowing that you don’t have to spend a moment worrying about your credit cards.

Bon Voyage!

5 Ways to Stop Identity Theft

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As a lot of us have had to find out the hard way, identity theft is a real threat and it can be damaging to your finances and personal life. Make sure you’re doing all you can to keep yourself safe. Here are 5 things you can do to stay protected.

Have secure passwords.

Stop using the word ‘password’ as your password. And don’t use your mother’s maiden name. Create a complex password that only you can remember. For instance, maybe you’re a big Alabama football fan. Use initials, symbols, and numbers to create your password. For example: *BamaWins3020!  Nobody’s going to guess that one. According to howsecureismypassword.net, it would take a computer millions of years to crack that password.

Shred sensitive information.

Your weekly routine probably involves bringing your garbage can out to the street on trash day. Make sure when this happens, you’re not throwing anything away that an identity thief could find valuable. Anything that contains account numbers, banking information, or social security numbers would be a gold mine for a thief. Get online, buy a paper shredder and put it to work. This is the easiest way to help yourself stay protected.

Check your credit report.

If checking your credit report isn’t something you do regularly, you should make it one. If a thief opens up an account in your name, this will affect your credit score and that can be an easy red flag to detect. Try annualcreditreport.com.

Be careful with the internet.

Cybercriminals can get your information a few ways, one of which is phishing. Phishing is when a cybercriminal defrauds you of sensitive information by posing as a legitimate company that you trust. Make sure you never click a link in an email that’s asking you for personal information. You’ll never get an email like this if you didn’t request it, and even then, contact the company and have it verified. Also, make sure you’re not doing sensitive things like logging into your bank website from a coffee shop’s wifi. Wait until you get home to check your account balance.

Monitor your accounts.

It’s important to login to your online banking often, and review each transaction. If you find something that wasn’t purchased by you, contact your financial institution immediately. It’s very important to monitor your accounts regularly and keep a close eye on your money.

Article Source: John Pettit for CUInsight.com

What To Do When Your Debit Card is Compromised

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Have you ever gotten a letter in the mail from your bank saying that your account may have been compromised? If you’ve ever had this happen before, it elicits all sorts of questions. Was there fraudulent activity on my account? Who ‘may have’ compromised my card, and when? Am I liable financially?

First of all, getting a letter like this doesn’t necessarily mean there was a fraudulent transaction. Your bank is simply following a standard precaution. What it does mean is there was suspicious activity associated with your debit card. Your card number and name might have been obtained by an unauthorized source, usually at a retail location with a card processing system targeted by hackers.

Secondly, your bank may not even know where and when the card was potentially compromised. Mastercard, Visa and other card companies don’t usually release this information to the bank unless there’s a massive breach. Card companies simply notify the bank of suspicious activity, and your bank follows its standard policy – which is usually to cancel the card number and issue a new one.

Thirdly, even though you don’t know if, when, and where the compromise might have occurred, it’s important to do your own research. Besides credit card companies, banks also monitor account activity. This offers another level of assurance, but you can never be too cautious. We should always keep a close eye on our bank accounts, especially since small, ordinary transactions can be easily overlooked. Hackers often test a stolen card number this way before making major purchases or withdrawals (like dipping a toe in the water to test the temperature before plunging in). So if you do receive a letter like this in the mail, immediately check your account activity. If there are any unauthorized transactions, call the bank and report them.

Lastly, examine your habits for anything that is leaving your card number vulnerable. Have you been using your debit card more than usual? If you make frequent electronic purchases, use a credit card – which at least won’t risk your personal checking and savings accounts getting wiped out.

Along with this, consider the following precautions:

  • When making online purchases, always look for the secure “lock” icon.
  • Listen to your instincts if anything looks fishy about a website you’re entering personal information into.
  • Clear your web browser history frequently. Don’t let your computer save passwords, and delete cookies.
  • Don’t respond to emails requesting verification of personal information. Because of the risks, your bank will never ask you to do this.
  • Be skeptical of application downloads and updates, even if they look legitimate. Scammers are great at creating imitations that install spyware on your computer.
  • Use a quality anti-virus and anti-malware program and make sure it’s enabled to run routine scans.

If you have a First Financial Debit Card – Enroll it in Visa Purchase Alerts today! You’ll get an email each time your Debit Card is used over an amount you set, when your card is used outside the county, or when your card is used to make a purchase online or over the phone.

 Article Source: Jessica Sommerfield for MoneyNing.com