Tag Archives: Security

12 Ways to Protect Your Mobile Device from Hackers

As more and more consumers rely on their mobile devices to bank, browse and shop on the internet, it is extremely important that they exercise certain measures to protect their devices from online threats. The American Bankers Association is recommending 12 tips to help consumers safeguard their data and protect their mobile devices from fraudsters.

Mobile usage has grown tremendously in recent years and consumers are using their phones to access and transmit very sensitive information,” said Doug Johnson, ABA’s senior vice president of payments and cyber-security policy. “It’s extremely important that consumers avoid doing their banking and shopping on unsecure networks to limit their exposure to online threats.”

ABA recommends that consumers take extra precaution to protect the data on their mobile device by doing the following:
• Use the passcode lock on your smartphone and other devices. This will make it more difficult for thieves to access your information if your device is lost or stolen.
• Log out completely when you finish a mobile banking session.
• Protect your phone from viruses and malicious software, or malware, just like you do for your computer by installing mobile security software.
• Download the updates for your phone and mobile apps.
• Use caution when downloading apps. Apps can contain malicious software, worms and viruses. Beware of apps that ask for unnecessary “permissions.”
• Avoid storing sensitive information like passwords or a social security number on your mobile device.
• Tell your financial institution immediately if you change your phone number or lose your mobile device.
• Be aware of shoulder surfers. The most basic form of information theft is observation. Be aware of your surroundings especially when you’re punching in sensitive information.
• Wipe your mobile device before you donate, sell or trade it using specialized software or using the manufacturer’s recommended technique. Some software allows you to wipe your device remotely if it is lost or stolen.
• Beware of mobile phishing. Avoid opening links and attachments in emails and texts, especially from senders you don’t know. And be wary of ads (not from your security provider) claiming that your device is infected.

6 Ways to Protect Your Business from Email Compromise Scams

Companies of all sizes are being targeted by criminals through Business Email Compromise scams. In these scams, cybercriminals gain access to an employee’s legitimate business email through social engineering or computer intrusion. The criminal then impersonates the employee ¾ often a senior executive or someone who can authorize payments ¾ and instructs others to transfer funds on their behalf. Stock Yards Bank & Trust recommends the following tips to help businesses and employees avoid business email compromise attacks:

  • Educate your employees. You and your employees are the first line of defense against business email compromise. A strong security program paired with employee education about the warning signs, safe practices, and responses to a suspected takeover are essential to protecting your company and customers.
  • Protect your online environment. It is important to protect your cyber environment just as you would your cash and physical location. Do not use unprotected internet connections. Encrypt sensitive data and keep updated virus protections on your computer. Use complex passwords and change them periodically.
  • Use alternative communication channels to verify significant requests. Have multiple methods outside of email – such as phone numbers, alternate email addresses – established in advance through which you can contact the person making the request to ensure it is valid.
  • Be wary of sudden changes in business practices or contacts. If an employee, customer or vendor suddenly asks to be contacted via their personal e-mail address, verify the request through known, official and previously used correspondence as the request could be fraudulent.
  • Be wary of requests marked “urgent” or “confidential. Fraudsters will often instill a sense of urgency, fear or secrecy to compel the employee to facilitate the request without consulting others. Use an alternative communication channel outside of email to confirm the request.
  • Partner with your bank to prevent unauthorized transactions. Talk to your banker about programs that safeguard you from unauthorized transactions such as call backs, device authentication and multi-person approval processes.

If you fall victim to a business email compromise scam:

  • Contact your financial institution immediately to notify them about the fraudulent transfer and request that they contact the institution where the fraudulent transfer was sent.
  • File a complaint, regardless of dollar loss, at www.IC3.gov.

7 Ways to Prevent Cybercrime

Cybercrime continues to be a growing problem in the U.S. According to the FBI’s Internet Crime Complaint Center, in 2015 the agency received approximately 288,000 complaints from consumers who were exposed to online fraud — up from nearly 270,000 in 2014. In recognition of Cybersecurity Awareness Month, the American Bankers Association is urging online users to take simple steps to safeguard their personal information, protect their networks and stop fraud.

“Fraudsters are using the Internet to facilitate all types of scams,” said Doug Johnson, ABA’s senior vice president of payments and cybersecurity policy. “As a result, it is extremely important that online users secure their Internet connection and install the latest security software to lessen their exposure to online threats.”

ABA recommends the following tips to protect yourself while navigating the web:

  • Keep your computers and mobile devices up to date.  Having the latest security software, web browser, and operating system are the best defenses against viruses, malware, and other online threats. Turn on automatic updates so you receive the newest fixes as they become available.
  • Create complic@t3d passwords. A strong password is at least eight characters in length and includes a mix of upper and lowercase letters, numbers, and special characters.
  • Watch out for phishing scams. Phishing scams use fraudulent emails and websites to trick users into disclosing private account or login information. Do not click on links or open any attachments or pop-up screens from sources you are not familiar with. Forward phishing emails to the Federal Trade Commission (FTC) at spam@uce.gov – and to the company, bank, or organization impersonated in the email.
  • Keep personal information personal. Hackers can use social media profiles to figure out your passwords and answer those security questions in the password reset tools. Lock down your privacy settings and avoid posting things like birthdays, addresses, mother’s maiden name, etc.  Be wary of requests to connect from people you do not know.
  • Secure your internet connection. Always protect your home wireless network with a password. When connecting to public Wi-Fi networks, be cautious about what information you are sending over it.
  • Shop safely. Before shopping online, make sure the website uses secure technology. When you are at the checkout screen, verify that the web address begins with https. Also, check to see if a tiny locked padlock symbol appears on the page.
  • Read the site’s privacy policies. Though long and complex, privacy policies tell you how the site protects the personal information it collects. If you don’t see or understand a site’s privacy policy, consider doing business elsewhere.

Resource information provided by the American Bankers Association

In The News – Great Britain Leaves European Union

AMark

June 24, 2016

Dear friends and clients,

In a very close vote the citizens of Great Britain voted to formally leave the European Union. Prime Minister David Cameron has resigned and will step down in October after failing to rally support for remaining a part of the EU. Global stock markets are responding negatively and the Euro and Pound are both falling against other currencies. The U. S. stock market responded this morning with a negative opening.

What are the consequences of the vote? There is a real fear that the British vote will be the beginning of the end for the European Union by encouraging other members to leave. This would have negative implications for global trade and further weaken economic growth in both Great Britain and Europe. Markets are being negatively impacted by the uncertainty surrounding the process of leaving the EU. Strategists are also concerned about the impact on the sales and earnings of multinational companies domiciled in the United States and the rest of the world. Many of these companies gained access to European markets through Great Britain and will now be forced to contract separately with Great Britain and the EU. The rising dollar will also impact the earnings of U. S. multinational companies due to currency translation accounting rules.

The worst fears are probably being overstated. Great Britain will more than likely retain preferred trading status with the European Union. It is in the best interest of the EU to negotiate trade agreements without restrictions, penalties, or tariffs so as not to disrupt the fragile economic growth in that region. The strong dollar, stable political and economic environment, and the very low interest rates throughout the Eurozone will encourage capital flows into the United States which will support our capital markets.

What happens next? Prime Minister Cameron will travel to Brussels next week to meet with the other twenty seven member country leaders. They will begin the process of defining the new relationship between the EU and Great Britain politically and economically. His successor will then begin the formal two years of meetings required by law to negotiate Great Britain’s way out of the European Union and to renegotiate trade accords with member countries. European leaders will be focusing on the agreements necessary to regulate future trade between the EU and Great Britain, the access British companies will have to EU markets, and any banking restrictions on banks domiciled in Great Britain. The hope is Great Britain will still have access to the European mainland markets without tariffs or other barriers to trade.

In conclusion, expect continued market volatility. We advise clients to remain invested through these periods of higher than normal uncertainty. We will continue to manage risk in portfolios through the diversification and security selection process. Please contact your wealth advisor with any concerns or questions.

The Wealth Management Group

Louisville
200 South Fifth Street
Louisville, KY 40202
Phone: (502) 625-1005
Email:WealthManagement@syb.com
Indianapolis
11450 N. Meridian Street
Carmel, IN 46032
Phone (317)-238-2816
Email:WealthManagement@syb.com
Cincinnati
101 W. Fourth Street
Cincinnati, OH 45202
Phone: (513)-824-6146
Email:WealthManagement@syb.com

We provide the information in this newsletter for general guidance only. It does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, investment, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, expressed or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE

Derby Week Safety Tips

We are officially in the midst of 2016 Kentucky Derby week! With “the most exciting two minutes in sports” comes a week full of great events. As we quickly approach the first Saturday in May, Stock Yard’s Security Team wants to ensure everyone has an enjoyable time while providing some essential safety tips:

Plan your trips carefully. Think about where to park ahead of time, and consider walking a little further to and from the event. Depending on the event, street closures could send you on an unexpected detour, so make sure to plan an alternate route accordingly. Designate a driver who will be responsible for getting everyone to and from safely.

Never go alone. Especially if you are in an area you are not familiar with.

Always lock your car, and hide valuables pre-trip. Don’t leave any valuables in plain sight. Additionally, ensure that your home will be safe while you are away for an extended period of time. Let a trusted neighbor know where you will be, and have them keep an eye out for any suspicious activity.

Keep your cash, ID and your cell phone in a front pocket to prevent being pickpocketed. Be conscious of where you put your cash – particularly after placing a bet at the track. Make sure that your belongings are not in a place where thieves would be able to snatch.

Ladies – If you bring a bag to the races, make sure it is not oversized. The track has some specifications on what size bag to bring, and the larger the bag, the easier it is for thieves to sneak into your belongings. Be sure not to accidentally take any of the banned items as well.

Be on the lookout for counterfeit notes. Derby time is also a time for a significant rise in counterfeit notes entering the Louisville Metro area.   Right now, the $20.00 note is the most counterfeited in America.

Be aware of your surroundings.  Situational awareness is key to staying safe in any environment.  If you need help call LMPD at 502-574-7111 and give them your location. If you find yourself in the middle of an emergency, call 911 immediately.

Be aware, be alert, be ready, and be safe. Best wishes for the winning Derby ticket and most of all have fun!

Protecting Your Identity

Identity theft continues to be one of the fastest growing crimes in the United States. In 2014, there were 12.7 million victims of identity fraud in the U.S., according to Javelin Strategy and Research. In recognition of Cyber Security Awareness Month, Stock Yards Bank & Trust recommends following these tips to keep your information – and your money – safe.

1. Be cautious of who you share with.

Don’t provide your Social Security number or account information to anyone who contacts you online or over the phone. Protect your PINs and passwords and do not share them with anyone. Use a combination of letters and numbers for your passwords and change them periodically. Do not reveal sensitive or personal information on social networking sites.

2. Shred sensitive papers.

Shred receipts, banks statements and unused credit card offers before throwing them away.

3. Keep an eye out for missing mail.

Fraudsters look for monthly bank or credit card statements or other mail containing your financial information. Consider enrolling in online banking to reduce the likelihood of paper statements being stolen. Also, don’t mail bills from your own mailbox with the flag up.

4. Use online banking to protect yourself.

Monitor your financial accounts regularly for fraudulent transactions. Sign up for text or email alerts from your bank for certain types of transactions, such as online purchases or transactions of more than $500.

5. Monitor your credit report.

Order a free copy of your credit report every four months from one of the three credit reporting agencies at annualcreditreport.com.

6. Protect your computer.

Make sure the virus protection software on your computer is active and up to date. When conducting business online, make sure your browser’s padlock or key icon is active. Also look for an “s” after the “http” to be sure the website is secure.

7. Protect your mobile device.

Use the passcode lock on your smartphone and other devices. This will make it more difficult for thieves to access your information if your device is lost or stolen. Before you donate, sell or trade your mobile device, be sure to wipe it using specialized software or using the manufacturer’s recommended technique. Some software allows you to wipe your device remotely if it is lost or stolen. Use caution when downloading apps, as they may contain malware and avoid opening links and attachments – especially from senders you don’t know.

8. Report any suspected fraud to your bank immediately. 

Resource Information: American Banker’s Association

Social Media Security

Welcome to Stock Yards Bank and Trust official blog, SYBSince1904! Join us every other week for great information regarding the financial services industry and tips and tricks to save you time and money. This week, we are focusing on social media security.


Do you have a Facebook account? Twitter profile? While it is great to have these profiles to connect online, it is important to make sure you are doing everything you can to protect your identity and your online accounts. Fraud Prevention Manager, Nancy Flowers, has helped us compile these ten tips to keep you safe on social media:

1. Change passwords frequently. When creating your password, make sure that it is at least eight characters long, and that it includes many letters, numbers, and symbols. To ensure your password is secure, update and change the password every 3-6 months.

2. Be cautious with links. Oftentimes, friends will post interesting video links or news stories on your Facebook newsfeed. Many of these links could contain a virus which can be harmful to your computer or mobile device. Instead of clicking on the link, move out of Facebook and into your internet browser to view the video or article through Google. Typing in the key words should take you to the link you are looking for.

3. Set up Facebook alerts. Enable Facebook to send you a text message, email or notification each time someone logs into your account from a new place.

To turn on alerts:
• Click the drop down arrow at the top right
• Select “Settings”
• Top left select “Security”
• Click the “Login Alerts” section
• Check the box next to the type of alert (ex: text message) you’d like to receive
• Select “Save Changes”

4. Understand your privacy settings. Select a “private” setting and check periodically for changes or updates.

5. Be selective when accepting friend invites.  Ensure that whoever you are adding and accepting as a friend is someone you know and trust as they will have access to your profile.

6. Verify authenticity of messages. Don’t automatically assume that a message is from who it says it’s from.

7. Make sure your security software is up-to-date. Antivirus, anti-spyware, anti-spam, and malware will ensure your safety online.

8. Everything is permanent. Use the mindset that anything you post on social media will be on there forever. Even though you may delete a post or photograph, it is not truly gone.

9. Do not believe everything you read on the internet. Be smart and research!

10. Google yourself. Periodically “Google” your name – web and images.

Visit our website for additional information regarding banking security. How do you stay safe online? Comment below with your tips.