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BUSINESS Scams

WIRE FRAUD

At Citizens Security Bank, we are committed to providing you with the latest security enhancement to protect your financial information initiated via the internet.  Please be aware of your internet/e-mail security settings at your business.

 What can happen?

A criminal may:

  • Create a new e-mail account very similar to yours to falsify their identity (ex. John.doe@... vs Jon.doe@...).
  • Access your e-mail account to request fraudulent wire transfers.
  • Change settings on your computer to block all incoming e-mails from Citizens Security Bank (so that you are unaware of fraudulent transfers).

 How does the bank protect me?

  • Every e-mail wire request is confirmed with a call back to the contact person we have on record.
  • Through our Cash Management service, we provide an additional layer of security with a token - a handheld digital device that will require another user specific PIN/password.

 

FRAUDULENT EMAILS

 Please also be aware of emails that appear as though they're coming from well-known organizations.

NACHA (National Automated Clearing House Association)

  • Does not process financial transactions that flow through the ACH Network.
  • Does not contact individuals/organizations regarding specific transactions.
  • Visit their site www.nacha.org to view examples of fraudulent emails.

BBB (Better Business Bureau)

  • Visit their site www.bbb.org to view examples of fraudulent emails.

Unsolicited e-mails from other financial organizations that appear legitimate

  • They may look official but there may be typos in the sender's email and/or body of the message.

What do I do when this happens?

  • Do not click on any links!  Doing so may upload a malware/virus on to your computer.
  • Do not reply to the sender.
  • Delete the email.
  • Contact Citizens Security Bank.

 

TARGETING SMALL BUSINESS

With cyber attacks becoming more prevalent and before ever falling victim, small businesses are taking measures into their own hands to protect their assets.

I own a small business - what can I do?

  • Be meticulous about who you hire and consider a pre-employment background check:
    • Fraudulent activity can also occur as an inside job.
  • Restrict financial responsibilities to only a few employees:
    • Monitor financial activity on a regular basis (recommend daily).
    • Be observant and weed out the phony invoices from the real ones.
  • Educate employees about fraudulent consumer payments:
    • Fake debit/credit cards.
    • Bad checks.
    • Fraudulent return of merchandise for the exchange of cash.
  • Purchase up-to-date anti-virus software and firewalls, to prevent:
    • Account takeover - email and website credentials compromised to transact business on your account(s).
    • Keystroke loggers - captures every keystroke made on your computer to gather personal data.
  • Back up copies of business data .
  • Do your research before turning to the internet for alternate sources of funds.
  • Visit the Small Business Administration District Office site at www.sba.gov/content/find-local-sba-office.
  • Visit the scam alert page for small businesses at http://www.usa.gov/topics/consumer/scams-fraud/business/small-business-scams.shtml