Standard Bank Blog

Businesses have a lot to protect.  Click the video below to learn about protecting your personal information.

If you have any other questions about information security give us a call or stop by a branch.  We would be happy to discuss keeping your information safe and secure.

Community banks take your account security very seriously.  We have started fighting debit card fraud by offering a free service designed to safeguard your account by blocking international credit transactions.

Effective August 1, 2011, Standard Bank joined the fight and began blocking the following international credit transactions:

• Debit MasterCard purchases made in a foreign country

There are several steps you can take to stay secure online.  We have discussed some before.  Below are a few more, some of which are more advanced.

1. Install an anti-virus program and make sure that it stays updated.  While most of today's programs update automatically, you should check to make sure they are working properly.

2. Do not open email attachments even if they are from someone you know.  Open them only if you are expecting them, you know the person sending them, and you know what they contain.

3. Do not fall for phishing schemes or other emails where they try to get your personal information.

4. Update your operating system regularly.  Just like #1 it should happen automatically but it is good practice to check.

5. Be careful about the websites you visit.  Do not visit questionable or suspicious websites.  Do not download software from any website unless you know it is trustworthy.

6. Use a firewall.  If you do not have a router, turn on the firewall that comes with your operating system.

7. If you are using Vista or Mac OSX, or even Linux you should create an account for daily use that does not have administrative rights.  That way it will have restricted rights if a piece of malware gets into your system.

8. Even with good habits, you need to run an anti-spyware program to scan and remove spyware from your computer.

9. Shop at Secure Sites.  If you shop on the Internet, enter your personal information and credit card number only on a secure Web page.

Last week Michael's Crafts had a widespread security breach involving debit cards, which were used for PIN-based transactions.  You can read the full story courtesy of The Chicago Tribune here (New Article).  People that used their debit cards as a credit, a signature-based transaction, were not affected.

Credit and Debit Cards are a great convenience but they are one that should not be taken for granted.  The magnetic strip on the back holds all the card's data and thieves want that info.  One way for them to get it is called skimming.  Skimming is the act of scanning your card while you use it, such as getting cash from an ATM, without you noticing.  There are many places this type of theft can take place such as the ATM, gas station, kiosks etc.

To prevent this you have to know what you are looking for.  A skimmer is a device placed over the normal card slot on a machine.  The thief is the scanning your card on its way into or out of the machine.  When you see a machine that looks like there is something attached to it, move on.  An example is pictured on the right.

Another type of skimming can occur when your card is given to someone to be scanned they can use their own scanner to read the data.  They are easy to conceal, as there are types that will fit into the palm of your hand.  Some thieves are not as high tech and just take photos of the front and back of the card.

Skimmers are sometimes very hard to spot so as a backup you should monitor your accounts and call immediately if something suspicious shows up.  In addition, remember when using your PIN always remember to block it from view!

• The store deposits your check in their bank
• The store's bank passes the check on to The Fed with a payment request
• The Fed takes the information from your check to identify your bank
• Your bank is presented the check and payment request for approval
• Upon approval, The Fed settles the check by processing the transfer of funds from your account to the stores account
• The check is now cashed

As we mentioned electronic payments are now very popular.  The steps are similar to above, but instead of having to transport each check to Cleveland for processing, which is usually done by airplane, checks are imaged and then electronically processed.  Check 21 is a large part of this which enhanced the usage of electronic check imaging.  This speeds up processing and makes for more efficient handling of your payments.  Checks have truly taken a step into the 21st century!

What is the FDIC?

The Federal Deposit Insurance Corporation provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank.  Since the start of FDIC insurance on January 1, 1934, no depositor has lost a single cent of insured funds because of a failure.

What is FDIC Insurance?

FDIC insurance protects you from losses if your bank goes sour.  When you keep money in an FDIC insured account, you won’t lose your money if the bank fails.  But, FDIC insurance is not unlimited. You can increase the FDIC insurance coverage available to you by using multiple banks.

How can I check whether my deposits are insured by FDIC?

The FDIC insures deposits in most, but not all banks. Deposits in separate branches of an insured bank are not separately insured. Deposits in one insured bank are insured separately from deposits in another insured bank. To find out if your money is insured, visit EDIE. EDIE lets consumers and bankers know, on a per-bank basis, how the insurance rules and limits apply to a depositor's specific group of deposit accounts—what's insured and what portion, if any, exceeds coverage limits at that bank.

If I have more than $250,000 at one insured bank, can I still be fully covered?

You may qualify for more than $250,000 in coverage at one insured bank if you own deposit accounts in different ownership categories.

The importance of passwords is often overlooked.  It is easy to think it is okay to keep your password on a post-it note under the keyboard or to use your anniversary (so you don't forget!) as your password for everything.  The truth is this is not a safe strategy.  Follow these six rules so you can stop worrying about your security.

1. Have a minimum length - Most sites require a minimum of 6-8 characters.  If the site you are setting your password for does not require eight characters then make your password at least that long anyway.  In addition, most importantly if you can make it longer do so.

2. Change your password often - Changing passwords is one of the best security tools because if someone does get your password hopefully they get the one you were using last week.  The generally accepted minimum is every 90 days.

3. Don't use your Access ID - a string of numbers, names or common words or phrases as your password - Your mother in law's maiden name is not a good password.  Random number and letter combinations are the best passwords you can use; the more random the better.

4. Use special characters - Using special characters makes the password much stronger.  Special characters are shift plus a number key so add a few to your password to really lock it down.

5. Don't share - Sharing is very popular in social media, and that is okay, but you need to drawn draw the line at passwords.  Never share your password and if you do not have a choice, change it immediately after.

6. Use different passwords - So you have listened to the above and have a great password for all your sites.  Now you need multiple great passwords because you should not use the same password for everything.  This is called damage control.  This way if one site is compromised, your entire world is not compromised as well.

Yes remembering all these passwords can be a burden.  Written lists under your keyboard are a bad idea, but a list in your safe at home or safe deposit box at the bank are good choices.  Another idea is a password management utility that keeps your passwords stored in an encrypted file on your computer.

Do you have any password security tips you would like to share?

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