Scams and fraud come in many shapes and sizes. That's why it's vital to ramp up your security arsenal.
Protect Yourself Online: Keeping your information secure is a team effort. City National Bank of Florida can provide you and your business with additional tools and information to help you keep your information protected. If your computer is compromised, hackers may gain access to your personal information, such as your bank accounts, personal emails, or social security number.
View our Online Security Guide
Regulation E establishes the rights, liabilities, and responsibilities of parties in electronic funds transfers and protects consumers when they use such systems. The term “electronic fund transfer” (EFT) generally refers to a transaction initiated through an electronic terminal, telephone, computer, or magnetic tape that instructs a financial institution either to credit or debit a consumer’s asset account. The law and regulation establish the basic rights, liabilities and responsibilities of consumers who use EFT services and of financial institutions that offer these services.
City National Bank Of Florida will never contact you to request personal information by email, phone, or text communication, including account numbers, online bank account username or passwords, personal identification information such as social security number or date of birth, or any other confidential customer information.
Fraudulent communications through email, phone, or text are designed to appear as though they have originated from City National Bank Of Florida. Do not respond to these communications, which request any type of personal or confidential information and do not click on any links within emails or text messages. These communications are not from City National Bank Of Florida.
Fraud comes in many shapes and sizes and unfortunately, it will never go away. Nor will the money and time spent fixing it. That’s why it’s vital to ramp up your security arsenal.
While fraud operators are constantly developing new viruses, spyware and online fraud schemes, the good news is that you can take action to protect yourself against online fraud. The keys to control are prevention and detection.
Prevention stops identity theft at the source and protects your private data before it is compromised by fraudsters. Taking advantage of online bill pay and even good old fashioned paper-shredding contributes to your own online safety.
Early Detection is equally important. Successful detection includes records consolidation and the regular review of your financial accounts for unusual activity. Banking online gives you quick access to your accounts, so that you can detect fraudulent activity sooner.
Different fraud tactics all share the same goal: to obtain your personal, confidential and financial information for fraudulent use.
From obtaining your information ‘the old fashioned way’ via discarded mail, to emails that ask you to verify personal information under the guise of a trusted source like your financial institution fraudulent activity comes in many different forms.
Adware: Software that displays advertising content on your computer. Like its cousin spyware, some adware runs with your full knowledge and consent, some doesn't. More often an annoyance than a security risk, adware may also monitor browsing activities and relay that information to someone else over the Internet.
Bot or Web bot: Derived from "robot." An automated program, such as a Web crawler, that performs or simulates human actions on the Internet. Used for legitimate purposes by search engines, instant message (IM) programs, and other Internet services. Web bot can also be used to take control of computers, launch attacks, and compromise data; may act as part of a blended threat.
Botnet or Zombie Armies: A group of computers that have been compromised and brought under the control of an individual. The individual uses malware installed on the compromised computers to launch denial-of-service attacks, send spam, or perpetrate other malicious acts.
Denial-of-Service (DoS): An attack on a computer or network in which bandwidth is flooded or resources are overloaded to the point where the computer or network's services are unavailable to clients. Can also be carried out by malicious code that simply shuts down resources.
Dumpster Diving: Thieves rummage through trash looking for bills or other paper that includes your personal information.
Keylogger: Software that monitors and captures everything a user types into a computer keyboard. Used for technical support and surveillance purposes. Can also be integrated into malware and used to gather passwords, user names, and other private information.
Malware: Also known as ‘malicious software’, malware is designed to harm, attack or take unauthorized control over a computer system. Malware includes viruses, worms, Trojan horses, some keyloggers, spyware, adware and bots. It’s important to know that Malware can include a combination of the types noted.
Pharming: Pharming takes place when you type in a valid Web address and you are illegally redirected to a Web site that is not legitimate. These ‘fake’ Web sites ask for personal information such as credit card numbers, bank account information, Social Security numbers and other sensitive information.
Phishing: A scam that involves the use of replicas of existing Web pages to try to deceive you into entering personal, financial or password data. Often suspects use urgency or scare tactics, such as threats to close accounts.
Pop-Ups: A form of Web advertising that appears as a “pop-up” on a computer screen, pop-ups are intended to increase Web traffic or capture email addresses. However, sometimes pop-up ads are designed with malicious intent like when they appear as a request for personal information from a financial institution, for example.
RetroVirus: This virus specifically targets your computer defenses. It will look for vulnerabilities within your computer operating system or any third party security software. Most security vendors have some form of tamper-proof measure in place, so it is important to keep your patches up-to-date. Retro Viruses are usually combined with another form of attack.
Social engineering: A method of deceiving users into divulging private information, social engineering takes advantage of our natural tendency to trust one another rather than rely solely on technological means to steal information. Often associated with phishing, pharming, spam, and other Internet-based scams.
Spam: Unsolicited email, usually sent in bulk to a large number of random accounts; often contains ads for products or services. Also used in phishing scams and other online fraud. Can be minimized using email filtering software.
Spim or Instant Spam: Unsolicited instant messages, usually sent in bulk to a large number of IM accounts; often contain marketing materials and links to product Web pages. May also be used in phishing scams or to spread malware. See also, spam.
Spoofing: Spoofing is when an attacker masquerades as someone else by providing false data. Phishing has become the most common form of Web page spoofing. Another form of spoofing is URL spoofing. This happens when an attacker exploits bugs in your Web browser in order to display incorrect URLs in your browser location bar. Another form of spoofing is called “man-in-the-middle”. This occurs when an attacker compromises the communication between you and another party on the Internet. Many firewalls can be updated or configured to significantly prevent this type of attack.
Spyware: Loaded on to your computer unbeknownst to you, spyware is a type of program that watches what users do and forwards information to someone else. It is most often installed when you download free software on the Internet. Unfortunately, hackers discovered this to be an effective means of sending sensitive information over the Internet. Moreover, they discovered that many free applications that use spyware for marketing purposes could be found on your machine, and attackers often use this existing spyware for their malicious means.
Trojans: A Trojan is malicious code that is disguised or hidden within another program that appears to be safe (as in the myth of the Trojan horse). When the program is executed, the Trojan allows attackers to gain unauthorized access to the computer in order to steal information and cause harm. Trojans commonly spread through email attachments and Internet downloads. A common Trojan component is a “keystroke logger” which captures a user’s keystrokes in an attempt to capture the user’s credentials. It will then send those credentials to the attacker.
Virus: A computer virus is a malicious program that attaches itself to and infects other software applications and files without the user’s knowledge, disrupting computer operations. Viruses can carry what is known as a “payload,” executable scripts designed to damage, delete or steal information from a computer.
A virus is a self-replicating program, meaning it copies itself. Typically, a virus only infects a computer and begins replicating when the user executes the program or opens an “infected” file.
Viruses spread from computer to computer only when users unknowingly share “infected” files. For example, viruses are commonly spread when users send emails with infected documents attached.
Vishing: Vishing is a type of phishing attack where the attacker uses a local phone number in the fake email as a means of obtaining your sensitive information. The goal is to fool you into believing the email is legitimate by instructing you that responding to the request by phone is safer than responding by email and shows authenticity. The unsuspecting caller is then tricked through an automated phone system to relinquish their sensitive information.
Worm: A worm is similar to a virus but with an added, dangerous element. Like a virus, a worm can make copies of itself; however, a worm does not need to attach itself to other programs and it does not require a person to send it along to other computers.
Worms are powerful malware programs because they cannot only copy themselves; they can also execute and spread themselves rapidly across a network without any help.
Business Email Compromise (BEC): Email is often a vehicle used to transmit malware and commit fraud. It is important to evaluate your email behaviors and develop good habits to help protect your computer and your identity.
In addition to viruses and worms that can be transmitted via email, phishing also threatens email users. A type of email fraud, phishing occurs when a perpetrator, posing as a legitimate, trustworthy business, attempts to acquire sensitive information like passwords or financial information. Read more about BEC and how to protect your business against attacks .
The impact of identity theft and online crimes can be greatly reduced if you can catch it shortly after your data is stolen or when the first use of your information is attempted. One of the easiest ways to get the tip-off that something has gone wrong is by reviewing your monthly statements provided by your bank and credit card companies for anything out of the ordinary.
If you know, or even think, you’ve been a victim of identity fraud, take immediate action and follow these five steps.
It’s not always easy to identify online fraud but cybercrime prevention can be straightforward. When you're armed with a little technical advice and common sense, you can avoid many attacks. Remember that online criminals are trying to make their money as quickly and easily as possible. The more difficult you make their job, the more likely they are to leave you alone and move on to an easier target. The tips below provide basic information on how you can keep your computer and your identity safe.
Multi-factor authentication (MFA), also known as two-factor authentication (2FA) or two-step verification, is a security protocol that involves confirming individual identity through multiple authentication methods prior to granting access to a system, application, or account.
This additional layer of verification enhances security, surpassing the traditional username and password combination. MFA serves as a layer against unauthorized access.
There are various methods to enable MFA for your online banking accounts:
Business or commercial account holders should institute additional measures in order to further protect their online banking information. For example:
The Consumer Financial Protection Bureau (CFPB) has several tools to educate veterans and older adults about the dangers of frauds and scams and help them prevent it. The CFPB is offering a new placemat on scams targeting the Aid and Attendance benefit, as part of their series of fraud and scam prevention placemats.
The CFPB recommends veterans and spouses to look out for these signs of possible Aid and Attendance benefit scams:
The CFPB also develops online and print resources to share important financial information with adults 62 and older. The mats and toolkits are available to download or order in bulk for free here.
For more information, visit:
Helping Prevent Scams Targeted at Veterans
Resources for Older Adults
Additional information and tips on how to safe-guard your online security are available at:
Consumer Information: Identity Theft
https://consumer.ftc.gov/identity-theft-and-online-security/identity-theft(Opens in a new Window)
Protecting Your Business: Start With Security
Consumer Action: Complaints
https://www.usa.gov/consumer-complaints#item-212527(Opens in a new Window)
FDIC Consumer Protection
http://www.fdic.gov/consumers/(Opens in a new Window)
NACHA Fraud Resources
https://www.nacha.org/Fraud-Phishing-Resources(Opens in a new Window)
US Department of Homeland Security
http://www.us-cert.gov/home-and-business/(Opens in a new Window)
Federal Communication Commission - Business Cyber-planner
http://www.fcc.gov/cyberplanner(Opens in a new Window)
Federal Trade Commission: Identity Theft by Mobile Phone
https://consumer.ftc.gov/consumer-alerts/2022/03/scammers-pretend-be-ftc-again(Opens in a new Window)
Federal Trade Commission: Tips for Using Public WiFi Networks
Trusteer Rapport® is a security software solution that helps protect your online accounts by providing an additional layer of security to any anti-virus or security software you already use. By protecting your internet connection, Trusteer Rapport® creates a tunnel for safe communication and to help block malicious attempts to access your accounts.
Learn more about our Trustee product.
Learn to protect against Wires Fraud.
The FDIC Money Smart Program is designed to boost your financial skills. You can explore Money Smart resources, as they are available 24/7.
These tools are free of charge and available for all, so remember to share the tools with your family and friends.
Please note: City National Bank of Florida does not offer tax, legal or accounting advice
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