Protecting Your Transactions Online

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Federal financial regulators continue to report that Internet threats are on the rise.  Sophisticated hacking techniques and growing organized cyber-criminals are 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:

  • Home City Federal Savings Bank will never email, text, call or otherwise ask you for your username, password or other electronic banking credentials.
  • You can help protect yourself by taking the following preventative measures:
    • Choose a strong user name and password that, at a minimum, uses upper case letters, lower case letters, numbers and special characters.
    • Periodically change your password and use a different password for each of your accounts
    • Do not use commonly known information as passwords like pets’ or childrens’ names
    • Safeguarding your user name and password
    • Utilize up to date anti-malware and anti-virus software
    • Make sure you have a firewall in place when conducting your financial transactions
    • Click on the “Log Out” button to terminate your online session (don’t just close the page or “X” out of the session)
    • Do not permit your browser to “remember” your user name or password
    • Use extra caution when using public wireless connections (known as “hotspots”).  Hotspots may reduce their security so it’s easier for individuals to access and use their wireless network.
    • Monitoring your account activity on a regular basis
    • Don’t respond to emails, text or calls  requesting personal information

Note: We may ask owners of commercial accounts to perform their own risk assessments and controls evaluations.

  • The risk assessment involves making a list of the risks related to online transactions such as:
    • Passwords being written down and left out in the open
    • Use of old or poorly structured passwords
    • The possibility of internal fraud or theft
    • Failure to terminate the rights of former employees
    • Lack of dual control or checks and balances over individual access to online systems
  • The evaluation of controls your business has implemented may include:
    • Using password protected software
    • Performing employee background checks when hiring staff
    • Setting up procedures to terminate access for former employees
    • Segregating duties among two or more people
    • Conducting internal or third party audits of controls
    • Using firewalls to protect systems from outside intrusion or hackers

Federal regulations do provide consumers with some protections for electronic funds transfers.  These regulations generally apply to accounts with Internet access.

Regulation E establishes the limits on a consumer’s liability for unauthorized electronic fund transfers.  It provides 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. Please see your Truth In Savings Disclosure for more details.

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