Fraud Prevention Best Practices for Businesses
User ID and Password Guidelines
- Create a “strong” password with at least 8 characters that includes a combination of mixed case letters, numbers, and special characters.
- Change your password frequently.
- Never share username and password information with third-party providers.
- Avoid using an automatic login feature that saves usernames and passwords.
- Users should check the last login date/time every time they log in.
- Review account balances and detail transactions regularly (preferably daily) to confirm payment and other transaction data and immediately report any suspicious transactions to your financial institution.
- Periodically view transfer activity by viewing transactions in account activity.
- Whenever possible, use Bill Pay to limit account number dissemination exposure and to obtain better electronic record keeping.
- ACH Alerts
- Wire Alerts
- Password change alerts
- Do not use account numbers, your social security number, or other account or personal information when creating account nicknames or other titles.
- Register your computer to avoid having to re-enter security questions and other authentication information with each login.
- Periodically, review your routine online payments to check for any irregularities.
- Never leave a computer unattended while using online banking.
- Never conduct banking transactions while multiple browsers are open on your computer.
- Prohibit the use of “shared” usernames and passwords for FirstConnect.
- Limit administrative rights on users’ workstations to help prevent the inadvertent downloading of malware or other viruses.
- Dedicate and limit the number of computers used to complete online banking transactions; do not allow Internet browsing or e-mail exchange and ensure these computers are equipped with latest versions and patches of both anti-virus and anti-spyware software.
- Delete online user IDs as part of the exit procedure when employees leave your company.
- Assign dual system administrators for online cash management services.
- Establish transaction dollar limits for employees who initiate and approve online payments such as ACH batches, wire transfers, and account transfers.
Tips to Protect Online Payments & Account Data
- When you have completed a transaction, ensure you log off to close the connection.
- Monitor account activity on a frequent basis by reviewing all transactions initiated by your company .
- Review transaction reporting regularly to confirm transaction activity.
- Have procedures/controls in place to ensure that any wire transfer requested by email be verified by some other means - phone call, text, or direct conversation with requestor; and
- Review historical and audit reports regularly to confirm activity and amounts.
- Review historical and audit reports regularly to confirm transaction activity and amounts.
Tips to Avoid Phishing, Spyware and Malware
- Do not open e-mail from unknown sources. Be suspicious of e-mails purporting to be from a financial institution, government department, or other agency requesting account information, account verification, or banking access credentials such as usernames, passwords, PIN codes, and similar information. Opening file attachments or clicking on web links in suspicious e-mails could expose your system to malicious code that could hijack your computer.
- Never respond to a suspicious e-mail or click on any hyperlink embedded in a suspicious e-mail. Call the purported source if you are unsure who sent an email.
- If an e-mail claiming to be from your financial organization seems suspicious, checking with your financial organization may be appropriate.
- Install anti-virus and spyware detection software on all computer systems. Free software may not provide protection against the latest threats compared with an industry standard product.
- Update all of your computers regularly with the latest versions and patches of both anti-virus and anti-spyware software.
- Ensure computers are patched regularly, particularly operating systems and key applications with security patches.
- Install a dedicated, actively managed firewall, especially if using a broadband or dedicated connection to the internet, such as DSL or cable. A firewall limits the potential for unauthorized access to your network and computers.
- Check your settings and select, at least, a medium level of security for your browsers.
- Clear the browsers cache before starting any FirstConnect® session to eliminate copies of web pages that have been stored on the hard drive. How the cache is cleared depends on the browser and version you are using. This function is generally found in the browser’s preferences menu.
- Be advised that you will never be presented with a maintenance page after entering login credentials. Legitimate maintenance pages are displayed when first reaching the URL and before entering login credentials.
- FirstConnect® does not use pop-up windows to display login messages or errors. They are displayed directly on the login screen.
- FirstConnect® never displays pop-up messages indicating that you cannot use your current browser.
- FirstConnect® error messages never include an amount of time to wait before trying to login again.
If at any time you detect any suspicious account activity or have had any information security-related events contact Firstrust Bank immediately at 800-220 BANK.