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Learn More About Preventing Fraud

Automated Fraud Calls:

MutualBank has become aware of fraudulent phone calls being placed to customers informing them that their debit card will be deactivated unless the card number and pin number are provided to the caller.  Some calls are automated and some have actual live persons making the calls. 

Please do not provide any card information if you receive one of these calls.  MutualBank will not call you and ask for account, card information or PIN.  If you have provided your card, account information or PIN during one of these calls please contact MutualBank Customer Support immediately at 800-382-8031.

Fraudulent Email Notice:

MutualBank has become aware of emails purporting to be from eNFACT.  Enfact is our fraud monitoring service that will call customers to verify transactions that are suspected to be fraudulent.  Our service only uses phone verification and does not email customers to verify transactions.  If you receive any of these emails do not click on any links in the email and delete it immediately.

These may take the form of an email indicating that the sender wants someone to cash checks in return for keeping a portion. "I will send a check made payable to you drawn on XYZ Bank in the amount of $10,000. All you have to do is deposit it. In return for doing this, you can keep $1,000 and wire $9,000 back to me."

This scam is usually promoted through emails but may also be found on job listing sites. The original check and the scam artist are usually from overseas, but not always.

Check Cashing Fraud:

The check may look real, but in reality, there is no account or the account has insufficient funds to cover the check. Because of the way check clearing works, funds are probably available to be transferred out before the incoming check has actually cleared. In this scam, the victim wires the $9,000 to the thief and a couple of days later receives word that the check he received has bounced. The result is a loss of $9,000.

Refund Fraud:

These schemes can take many forms, but usually involve an email indicating that the recipient has a refund due, but needs to provide information to speed the processing of the refund. The scam artists may claim to represent the IRS, state tax officials or even stores where someone may have purchased something.

The email directs the recipient to a website that may look legitimate but is a faked or spoofed site. Once there, the person will be requested to provide various personal information such as Social Security number, credit card number, or account information so the refund can be directly deposited.

Providing this information is dangerous. Once in the hands of a fraudster, it can lead to credit card fraud, unauthorized access to your financial accounts or identity theft.

The IRS and most state taxing authorities do not use email to correspond about refunds. Commercial establishments may use email but you should be very wary of emails like this. Before providing the information online, contact the establishment by phone to make sure the request for information is legitimate.

Identity Theft Protection:

clientuploads/ID Theft Graphic.jpg

No matter how careful you are, you can still become a victim of identity theft. Each day, criminals find new ways to steal personal information, like Social Security and driver's license numbers, so they can take over existing accounts and open fraudulent new ones. Reduce your chances of being a victim of Identity Theft and take action now to protect your identity.

Click Here to participate in the Identity Theft Prevention Training Program.

Fraudulent Emails & Websites:

If you receive e-mail that appears to be from MutualBank and it asks you to enter your account or personal information into the e-mail or on a non-secure webpage, it is probably a fraudulent e-mail. Although the e-mail or website appear to be from MutualBank, they are not. It has been designed with the intent to trick you into providing private information about yourself and your accounts. This practice is known as "phishing" and the numbers of people who fall victim to this scam is unfortunately rising.

It is not our practice to:

  • Send e-mail that requires you to enter personal information directly into the e-mail.
  • Send e-mail threatening to close your account if you do not take the immediate action of providing personal information.
  • Send e-mail asking you to reply by sending personal information.
  • Send e-mail asking you to enter your User ID, Password or account numbers into an e-mail or non-secure webpage.

If you receive a suspicious e-mail, you should never reply to it, click it, or enter any information. We actively investigate each of these attempts and work hard to stop any further unauthorized e-mails from being sent. Although we did not send the e-mail, please know that we regret any inconvenience or concern the e-mail may have caused you. If you do receive any such email please forward it to us at customersupport@bankwithmutual.com. We stand ready to answer your questions about what MutualBank does to secure your privacy and security at the same address.

Protecting Your Identity:

The number of Americans who have experienced identity theft has surpassed 27 million, with the incidence rate increasing every year. Substantial measures are in place at your bank to protect your identity and your accounts against theft and fraud. For example, stringent bank privacy policies protect your personal and financial information.

Password protection for online transactions helps assure online security. When using our online services, you develop a secret password that only you know. Encryption of online transactions with your bank converts your information into secure code, protecting you against hackers.

Maximum security is possible only with your help. Here's what you can do to stop these crimes before they happen:

  1. Do not give out financial information such as checking and credit card numbers, or your Social Security number, unless you know the person or organization.
  2. Report lost or stolen checks immediately. Your bank will block payment on them.
  3. Notify your banker of suspicious phone inquiries such as those asking for account information to "verify a statement" or "award a prize."
  4. Closely guard your ATM Personal Identification Number and ATM receipts.
  5. Shred any financial solicitations and bank statements before disposing of them.
  6. Put outgoing mail into a secure, official Postal Service collection box.
  7. If regular bills fail to reach you, call the company to find out why.
  8. If your bills include questionable items, don't ignore them. Instead, investigate immediately to head off any possible fraud.
  9. Periodically contact the major credit reporting companies to review your file and make certain the information is correct.

MutualBank will not contact customers via email, phone or mail to request or verify security information about passwords or personal identification numbers (PINs).

Monitor Your Financial Identity by
Reviewing Your Credit Report:

One step to ensure that no one has stolen your financial identity or established fraudulent credit in your name is to review your credit report. There are three large credit reporting agencies – Experian, TransUnion and Equifax – that receive, store and make information available on the borrowing of most consumers.

The credit agencies receive information when someone applies for credit as well as the payment history on most individual borrowing. Lenders can then access that information when they are considering making loans to individuals. To ensure that your information is correct and that no one has taken loans in your name, you should know what is in your credit report.

The Federal Trade Commission established a program with the three credit agencies that enables consumers to receive a copy of their credit reports from each of the three credit agencies once a year. You can request and receive the free reports at the AnnualCreditReport.com website (www.annualcreditreport.com). You can also request the reports by phone (1-877-322-8228) and by mail.

This is the only government authorized program for this service. AnnualCreditReport.com does not solicit consumers by email, telemarketing, or direct mail. You should be very wary of advertisements promising free credit reports or credit report monitoring. They are probably attempts to sell reports or services that you probably do not need.

You can also call the credit reporting agencies directly, but there may be a charge.

Experian – 888/397-3742

TransUnion – 800/888-4213

Equifax – 800/997-2493

You should review your credit report carefully when you receive it. Do not be surprised if the reports are somewhat different from the different companies. Each company gets information from many sources. If you find the information in your file is inaccurate or unfair, you can take steps to correct it or at least get your side of the story attached to your file. If a creditor has made an inaccurate complaint, you can write to the creditor and insist the record be corrected. You should also write to the credit bureau and request their records be corrected.

If you see totally unusual items in your report, contact the credit agencies immediately.


The bottom line: If you have any questions or concerns about protecting your financial identity, visit one of our convenient locations or call 1.800.382.8031.


 

 

Contact a Representative Today

Back to Education Resources

Mutual News
  • Mutualfirst Financial, Inc. Announces Agreement With Major Stockholder 

    Muncie, Indiana - February 27, 2015 – MutualFirst...

    Monday, March 2, 2015

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Mutual Blog

Personal Social Media Account Security

For many of us, social media has become a part of our everyday lives and helps us conveniently keep tabs on the people and topics we care most about.

Recently however, there has been an increase of social media account take overs by cybercriminals. As stated in the media, one contributing factor in some of the social media account takeovers has been the use of weak passwords.


Tips for creating a stronger password:


  • Passwords should typically:
    • be at least 8 characters in length
    • contain at least 1 number
    • contain at least 1 special character (!@#$$%)
    • contain both upper and lower case characters.
  • Do not use your name, date of birth, maiden name, mother’s maiden name, address, or other easily guessable words for passwords. 
  • Another way to create a strong password is to use a series of words that do not relate to each other. For example, JumpingFastRelaxStop!#.

 


Social media additional security options:


Another way to help avoid social media account takeover is to use the additional security options available. Two-factor authentication adds an extra layer of security that drastically decreases your chances of account takeover. Two-factor authentication is essentially the using of two separate components to verify your identity, the combination of something you HAVE with something you KNOW. A good example of two-factor authentication you most likely are already used to is withdrawing cash from an ATM, for example. Having both your debit card AND knowing a pin number is required to complete the withdrawal and protect your identity.

A popular and convenient two-factor authentication method is using a combination of both an online password and a text message verification sent to your phone. Enabling this type of authentication typically follows this process:

  1. Enter your password into Facebook or another website
  2. Immediately receive a text on your phone with a temporary pass key
  3. Enter the passkey received back on the site/app and you’re logged in

This may seem like overkill, but enabling this two-factor authentication will drastically decrease the chances of your social accounts being hacked. And actually, the process of setting up and using this authentication is pretty simple and convenient.

 


How to enable two-factor authentication:


Many popular social networks like Facebook, Twitter, LinkedIN, and others already support two-factor authentication. To learn more about how to do so on the most popular sites on the web, be sure to check out this article:

http://socialcustomer.com/2014/04/how-to-enable-two-factor-authentication-on-50-top-websites-including-facebook-twitter-and-others.html

Wednesday, April 22, 2015

READ BLOG ENTRY

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  • RSS Feed
 
 
Learn More About Preventing Fraud

Automated Fraud Calls:

MutualBank has become aware of fraudulent phone calls being placed to customers informing them that their debit card will be deactivated unless the card number and pin number are provided to the caller.  Some calls are automated and some have actual live persons making the calls. 

Please do not provide any card information if you receive one of these calls.  MutualBank will not call you and ask for account, card information or PIN.  If you have provided your card, account information or PIN during one of these calls please contact MutualBank Customer Support immediately at 800-382-8031.

Fraudulent Email Notice:

MutualBank has become aware of emails purporting to be from eNFACT.  Enfact is our fraud monitoring service that will call customers to verify transactions that are suspected to be fraudulent.  Our service only uses phone verification and does not email customers to verify transactions.  If you receive any of these emails do not click on any links in the email and delete it immediately.

These may take the form of an email indicating that the sender wants someone to cash checks in return for keeping a portion. "I will send a check made payable to you drawn on XYZ Bank in the amount of $10,000. All you have to do is deposit it. In return for doing this, you can keep $1,000 and wire $9,000 back to me."

This scam is usually promoted through emails but may also be found on job listing sites. The original check and the scam artist are usually from overseas, but not always.

Check Cashing Fraud:

The check may look real, but in reality, there is no account or the account has insufficient funds to cover the check. Because of the way check clearing works, funds are probably available to be transferred out before the incoming check has actually cleared. In this scam, the victim wires the $9,000 to the thief and a couple of days later receives word that the check he received has bounced. The result is a loss of $9,000.

Refund Fraud:

These schemes can take many forms, but usually involve an email indicating that the recipient has a refund due, but needs to provide information to speed the processing of the refund. The scam artists may claim to represent the IRS, state tax officials or even stores where someone may have purchased something.

The email directs the recipient to a website that may look legitimate but is a faked or spoofed site. Once there, the person will be requested to provide various personal information such as Social Security number, credit card number, or account information so the refund can be directly deposited.

Providing this information is dangerous. Once in the hands of a fraudster, it can lead to credit card fraud, unauthorized access to your financial accounts or identity theft.

The IRS and most state taxing authorities do not use email to correspond about refunds. Commercial establishments may use email but you should be very wary of emails like this. Before providing the information online, contact the establishment by phone to make sure the request for information is legitimate.

Identity Theft Protection:

clientuploads/ID Theft Graphic.jpg

No matter how careful you are, you can still become a victim of identity theft. Each day, criminals find new ways to steal personal information, like Social Security and driver's license numbers, so they can take over existing accounts and open fraudulent new ones. Reduce your chances of being a victim of Identity Theft and take action now to protect your identity.

Click Here to participate in the Identity Theft Prevention Training Program.

Fraudulent Emails & Websites:

If you receive e-mail that appears to be from MutualBank and it asks you to enter your account or personal information into the e-mail or on a non-secure webpage, it is probably a fraudulent e-mail. Although the e-mail or website appear to be from MutualBank, they are not. It has been designed with the intent to trick you into providing private information about yourself and your accounts. This practice is known as "phishing" and the numbers of people who fall victim to this scam is unfortunately rising.

It is not our practice to:

  • Send e-mail that requires you to enter personal information directly into the e-mail.
  • Send e-mail threatening to close your account if you do not take the immediate action of providing personal information.
  • Send e-mail asking you to reply by sending personal information.
  • Send e-mail asking you to enter your User ID, Password or account numbers into an e-mail or non-secure webpage.

If you receive a suspicious e-mail, you should never reply to it, click it, or enter any information. We actively investigate each of these attempts and work hard to stop any further unauthorized e-mails from being sent. Although we did not send the e-mail, please know that we regret any inconvenience or concern the e-mail may have caused you. If you do receive any such email please forward it to us at customersupport@bankwithmutual.com. We stand ready to answer your questions about what MutualBank does to secure your privacy and security at the same address.

Protecting Your Identity:

The number of Americans who have experienced identity theft has surpassed 27 million, with the incidence rate increasing every year. Substantial measures are in place at your bank to protect your identity and your accounts against theft and fraud. For example, stringent bank privacy policies protect your personal and financial information.

Password protection for online transactions helps assure online security. When using our online services, you develop a secret password that only you know. Encryption of online transactions with your bank converts your information into secure code, protecting you against hackers.

Maximum security is possible only with your help. Here's what you can do to stop these crimes before they happen:

  1. Do not give out financial information such as checking and credit card numbers, or your Social Security number, unless you know the person or organization.
  2. Report lost or stolen checks immediately. Your bank will block payment on them.
  3. Notify your banker of suspicious phone inquiries such as those asking for account information to "verify a statement" or "award a prize."
  4. Closely guard your ATM Personal Identification Number and ATM receipts.
  5. Shred any financial solicitations and bank statements before disposing of them.
  6. Put outgoing mail into a secure, official Postal Service collection box.
  7. If regular bills fail to reach you, call the company to find out why.
  8. If your bills include questionable items, don't ignore them. Instead, investigate immediately to head off any possible fraud.
  9. Periodically contact the major credit reporting companies to review your file and make certain the information is correct.

MutualBank will not contact customers via email, phone or mail to request or verify security information about passwords or personal identification numbers (PINs).

Monitor Your Financial Identity by
Reviewing Your Credit Report:

One step to ensure that no one has stolen your financial identity or established fraudulent credit in your name is to review your credit report. There are three large credit reporting agencies – Experian, TransUnion and Equifax – that receive, store and make information available on the borrowing of most consumers.

The credit agencies receive information when someone applies for credit as well as the payment history on most individual borrowing. Lenders can then access that information when they are considering making loans to individuals. To ensure that your information is correct and that no one has taken loans in your name, you should know what is in your credit report.

The Federal Trade Commission established a program with the three credit agencies that enables consumers to receive a copy of their credit reports from each of the three credit agencies once a year. You can request and receive the free reports at the AnnualCreditReport.com website (www.annualcreditreport.com). You can also request the reports by phone (1-877-322-8228) and by mail.

This is the only government authorized program for this service. AnnualCreditReport.com does not solicit consumers by email, telemarketing, or direct mail. You should be very wary of advertisements promising free credit reports or credit report monitoring. They are probably attempts to sell reports or services that you probably do not need.

You can also call the credit reporting agencies directly, but there may be a charge.

Experian – 888/397-3742

TransUnion – 800/888-4213

Equifax – 800/997-2493

You should review your credit report carefully when you receive it. Do not be surprised if the reports are somewhat different from the different companies. Each company gets information from many sources. If you find the information in your file is inaccurate or unfair, you can take steps to correct it or at least get your side of the story attached to your file. If a creditor has made an inaccurate complaint, you can write to the creditor and insist the record be corrected. You should also write to the credit bureau and request their records be corrected.

If you see totally unusual items in your report, contact the credit agencies immediately.


The bottom line: If you have any questions or concerns about protecting your financial identity, visit one of our convenient locations or call 1.800.382.8031.


 

 

Contact a Representative Today

Back to Education Resources

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