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  • Safety and Social Media

    Wednesday, February 27, 2013

    Social Media sites such as Facebook, Twitter, LinkedIn, Google+, and others have exploded in growth over the last few years.  Most of us have several social media accounts and use them frequently to communicate with others.  As with any online activity, social media does have risks so we do have to follow best practices when using social media sites.

    By following these guidelines you can greatly reduce risk in social media:

    • Manage your accounts – make sure that you change your passwords often and don’t use the same password for all social media sites.
    • Secure your accounts – social media sites update security systems frequently so make sure that you periodically review your account security settings and limit the amount of information you share publicly with non-friends.
    • Online scams - Facebook scams such as free gift cards, phony charities, and “watch this amazing video” are all used to trick people into divulging private information to steal identities.  Sites like Facecrooks can help alert you to current scams that are circulating via Facebook.
    • Keep anti-virus/anti-malware applications up to date on your computers and phones.
    • Making friends – Make sure you use caution when accepting new friend requests on social media sites.  We’re seeing an increase of fraudulent social media profiles of people posing to be from companies where they actually don’t work.
    • Verify friend requests from businesses – If you haven’t conducted business with a person requesting friendship then don’t accept the request.  If you are unsure then call the business to verify the person is with that company.
    • If you do call, use the phone number you have on record from a business card or phonebook.  Do not use any information contained within the requesting persons profile as it may be false.
    • MutualBank will not ask for personal, financial, or username and password information over social media channels.
    • If you suspect any of your social media profiles have been compromised, change your password immediately and call the customer support number listed on the social media site to report it.

    Remember, you can call us anytime. Let us know if you have questions or concern for your bank accounts. Call 800-382-8031or email customersupport@bankwithmutual.com.

     

    This blog is brought to you by John Mickle of Risk Management and Compliance.

  • Using Social Media? Protect Yourself Against Fraud.

    Tuesday, October 9, 2012

    Social media is great! We love to post our pictures, chat with friends and connect with companies and people with which we may have lost touch. However, we need to make sure that what we put on social media doesn't affect our security.

    I'm sure you're asking me, "how could this happen?" Let me give you a hypothetical example.

    Mary Jones has accounts at her local bank. She loves her online banking and bill pay for its convenience. Mary is a busy mother who doesn't have time to write checks and send in payments. Her local bank, who is very security minded, makes Mary set up security questions on her account so they can verify if Mary is the one accessing her account. Mary is very busy so she just does the normal security questions, mother's maiden name, etc. She doesn't want to, nor has time to think about it too much. Mary also loves social media and puts pictures of her family and pets on social media. 

    One day Mary goes online to check her balance and realizes money is missing. What happened? Did she leave her debit card somewhere? No, it's still in her purse! What happened?

    What happened is that Mary chose easy passwords and security questions/answers. A cyber thief figured out Mary's password was her dog's name. And when Mary changed her passwords as her bank advised, the thief was able to get the new one because he knew the security questions. How did he get them, you ask? Her social media account! Remember, she posted pictures of her dog and of her mother, tagging her in the photos, which shows her mother's maiden name!

    So what do you do? Get rid of your computer? Live like a hermit? No, I'm not suggesting anything that drastic. Here are a few tips:

    • When choosing or creating security questions, make them something people don't know and won't know about you. (Consider providing a different answer to the security question than what the correct answer would be.)
    • Make your passwords difficult to crack. Use letters and characters. Check and change them often. 
    • Be careful what you post on social media. Talking about your family is certainly OK, but if something you are posting is an answer to your security question, think again before you post.

    Everyone loves social media. It truly is a great tool for connecting with others. But, with just a little work, you can make it safer and help protect against fraud. 

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