Online Banking Authentication Scams

Scam artists are taking advantage of new federal guidelines requiring financial institutions to strengthen controls used to verify online banking users. There are several new phishing schemes circulating that use the enhanced authentication enrollment process to lure banking customers and credit union members to bogus web sites.

According to SecureWorks, an Atlanta-based security service company, this type of phishing scam directs recipients to enter their account number and personal identification number (PIN) so they can enroll in their financial institution’s new “enhanced authentication" or “dual authentication” solution.

You can take a few steps to reduce your chance of being victimized:

• Never enter your credit card information or other personal information (such as your Social Security Number) just because an e-mail directs you to do it.
   
• A company you do business with already has your information. Be very suspicious if an e-mail or caller asks to "verify" information.
   
• If you get a suspicious e-mail that asks for personal information, call the company directly. They can confirm whether the information is really needed and if it can be taken over the phone instead.
   
• Don’t use the links provided in a suspicious e-mail. Instead, go to a company's web site by typing the address into your browser.

If you have responded to an e-mail asking for your personal information, you should notify your financial institution immediately and keep a close eye on your accounts. Additional information is listed in our Identity Theft section.

Please contact us if you have questions or we can help you in any way.