This week has been coined “International Fraud Awareness Week”, and it didn’t come any too soon. Organizations worldwide lose an estimated five percent of their annual revenues to fraud, according to a study conducted by the Association of Certified Fraud Examiners (ACFE).
Old National Bancorp- a proud member of the Greater Bloomington Chamber of Commerce- is joining companies throughout the world in an effort to educate and raise awareness about fraud to proactively fight fraud and help safeguard business and investments.
“Banks are on high alert for fraud associated with cybercrime, including malicious emails, malware, phishing attempts, zero day exploits, or card breaches at retailers,” said Old National Chief Risk Officer Candice Rickard. “A recent study by the American Bankers Association indicated that more than two thirds of cyber security incidents were the result of phishing attempts.”
Here are some fraud prevention tips from Old National’s online security center:
Mobile banking precautions
- Log off of your Mobile Banking session when finished and close your browser.
- Do not use the Password Save or Auto Complete function in your browser.
- Do not save your user ID or password on your phone and don’t share them with anyone.
- Do not use your mobile device to connect to unsecure networks.
- Protect your device against theft and/or use by others.
- Use anti-virus/anti-malware software on your mobile device.
Social media tips
- Do not choose usernames and passwords that are the same or similar to ones you use to access your online banking.
- Never share personal information such as user IDs, PINs and account numbers.
- Never include information that can help thieves steal your identity, such as your address, phone number or even employment information.
- Always use privacy settings to limit access to your information, but realize that information posted on social media sites is permanent and may still be accessible.
- Never announce on social media sites when you will be out of town.
Monitor your account information
- Look over your bank statements as soon as they arrive.
- Sign up for Old National Online Banking so you can view your account history and transactions 24/7. You can also set up eAlerts to receive notification of certain activities on your accounts.
- Regularly review your credit report for suspicious inquiries, unexplained accounts, incorrect balances and typos. You are entitled to one free credit report per year from each major consumer reporting agency – Experian, Trans Union and Equifax – under the federal Fair Credit Reporting Act. To order your free reports, go to the official site www.annualcreditreport.com or call 1-877-322-8228. Avoid companies that ask you to pay for a copy of your credit reports.