Protecting Your Small Business Account

Corporate account takeover is a type of fraud where thieves gain access to a business’ finances to make unauthorized transactions, including transferring funds from the company, creating and adding new fake employees to payroll, and stealing sensitive customer information that may not be recoverable. The American Bankers Association recommends following these tips to keep your small business safe.

Educate your employees. You and your employees are the first line of defense against corporate account takeover. A strong security program paired with employee education about the warning signs, safe practices, and responses to a suspected takeover are essential to protecting your company and customers.

Protect your online environment. It is important to protect your cyber environment just as you would your cash and physical location. Do not use unprotected internet connections. Encrypt sensitive data and keep updated virus protections on your computer. Use complex passwords and change them periodically.

Partner with your bank to prevent unauthorized transactions. Talk to your banker about programs that safeguard you from unauthorized transactions. Positive Pay and other services offer call backs, device authentication, multi-person approval processes and batch limits help protect you from fraud.

Pay attention to suspicious activity and react quickly. Look out for unexplained account or network activity, pop ups, and suspicious emails. If detected, immediately contact your financial institution, stop all online activity and remove any systems that may have been compromised. Keep records of what happened.

Understand your responsibilities and liabilities. The account agreement with your bank will detail what commercially reasonable security measures are required in your business. It is critical that you understand and implement the security safeguards in the agreement. If you don’t, you could be liable for losses resulting from a takeover. Talk to your banker if you have any questions about your responsibilities.

 

Protecting Your Mobile Device

Your mobile device provides convenient access to your email, bank and social media accounts. Unfortunately, it can potentially provide the same convenient access for criminals. The American Bankers Association recommends following these tips to keep your information – and your money – safe.

Use the passcode lock on your smartphone and other devices. This will make it more difficult for thieves to access your information if your device is lost or stolen.

• Log out completely when you finish a mobile banking session.

• Protect your phone from viruses and malicious software, or malware, just like you do for your computer by installing mobile security software.

• Use caution when downloading apps. Apps can contain malicious software, worms, and viruses. Beware of apps that ask for unnecessary “permissions.”

• Download the updates for your phone and mobile apps.

• Avoid storing sensitive information like passwords or a social security number on your mobile device.

• Tell your financial institution immediately if you change your phone number or lose your mobile device.

• Be aware of shoulder surfers. The most basic form of information theft is observation. Be aware of your surroundings especially when you’re punching in sensitive information.

• Wipe your mobile device before you donate, sell or trade it using specialized software or using the manufacturer’s recommended technique. Some software allows you to wipe your device remotely if it is lost or stolen.

• Beware of mobile phishing. Avoid opening links and attachments in emails and texts, especially from senders you don’t know. And be wary of ads (not from your security provider) claiming that your device is infected.

• Watch out for public Wi-Fi. Public connections aren't very secure, so don’t perform banking transactions on a public network. If you need to access your account, try disabling the Wi-Fi and switching to your mobile network.

• Report any suspected fraud to your bank immediately.

Yahoo! Data Breach

Yahoo Data Breach – Precautions to Take

On September 22, Yahoo announced that 500 million of their accounts were hacked and are sold by internet criminals. Internet criminals can use this information in a variety of ways. For instance, they could send phishing emails claiming you need to change your Yahoo account, looking just like the real ones. If you are a Yahoo user or use the same user codes and passwords for different accounts, including a Yahoo account, consider taking these steps:

  • Open your browser and go to Yahoo. Do not use a link in any email. Reset your password and make it a strong, complex password or rather a pass-phrase.
  • If you were using that same password on multiple websites, stop doing so immediately. Using the same password all over the place is an invitation to get hacked. If you did use your Yahoo passwords on other sites, go to those sites and change the password there too. Also change the security questions and make the answer something non-obvious.
  • Use a free password manager that can generate hard-to-hack passwords, keep and remember them for you.
  • Watch out for any phishing emails that relate to Yahoo in any way and ask for information.

The Federal Trade Commission also offers a short video on handling data breaches and points consumers to the website IdentityTheft.gov/databreach for more information.

 

Support A Local Cause with Us on Veterans Day

3rd Annual Fundraiser for Project Healing Waters – Shenandoah Valley

Join F&M Bank for our 3rd Annual Veterans Day Clay Shoot Fundraiser at Flying Rabbit Sporting Clays​. Enjoy a day on the course, lunch provided by Mama's Caboose​, door prizes, and more! 

Friday, November 11th, 11am-3pm. Lunch will be served at noon.

All proceeds will benefit Project Healing Waters – Shenandoah Valley​, which provides rehabilitative fishing classes, along with clinics to over 20,000 local disabled Veteran and Active Military participants. All fly fishing and tying equipment is provided to the participants at no cost.

50 Shots for $60

  • Includes 50 shells, 50 clays & lunch provided by Mama’s Caboose
  • Door prizes & special course challenge
  • Choose the Course, the Wobble, or the 5-Stand
  • Veterans receive $5 off

For lunch, RSVP to (540) 896-1743 or marketing@fmbankva.com

Come one, come all. Handicap accessible. Individual shooters welcome or form your own squad.

Flying Rabbit Sporting Clays is located at 5537 S Valley Pike, Mt Crawford, VA.

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Protecting Yourself Online

Though the internet has many advantages, it can also make users vulnerable to fraud, identity theft and other scams. According to a Norton Cybercrime Report, 378 million adults worldwide were victims of cybercrime in 2013. The American Bankers Association recommends the following tips to keep you safe online:

Keep your computers and mobile devices up to date.  Having the latest security software, web browser, and operating system are the best defenses against viruses, malware, and other online threats. Turn on automatic updates so you receive the newest fixes as they become available.

Set strong passwords. A strong password is at least eight characters in length and includes a mix of upper and lowercase letters, numbers, and special characters.

Watch out for phishing scams. Phishing scams use fraudulent emails and websites to trick users into disclosing private account or login information. Do not click on links or open any attachments or pop-up screens from sources you are not familiar with.

Forward phishing emails to the Federal Trade Commission (FTC) at spam@uce.gov – and to the company, bank, or organization impersonated in the email.

Keep personal information personal. Hackers can use social media profiles to figure out your passwords and answer those security questions in the password reset tools. Lock down your privacy settings and avoid posting things like birthdays, addresses, mother’s maiden name, etc.  Be wary of requests to connect from people you do not know.

Secure your internet connection. Always protect your home wireless network with a password. When connecting to public Wi-Fi networks, be cautious about what information you are sending over it.

Shop safely. Before shopping online, make sure the website uses secure technology. When you are at the checkout screen, verify that the web address begins with https. Also, check to see if a tiny locked padlock symbol appears on the page.

Read the site’s privacy policies. Though long and complex, privacy policies tell you how the site protects the personal information it collects. If you don’t see or understand a site’s privacy policy, consider doing business elsewhere.

 

Upcoming Fall Events at F&M Bank

Join us for some family fun at a branch near you!

F&M Bank Port Road
October’s Pumpkin Painting Competition

F&M Bank Woodstock Kid’s Day
Monday, October 31, 3-5 PM