The banking sector has been under attack for hundreds of years. First, it was the physical theft of monies. Then it was computer fraud. Today, it’s not only cyber fraud but hacks into servers to obtain a customer’s personally identifiable information (PII). Hence, the reason why cyber security in banking is of utmost importance. As individuals and companies perform most transactions online, the risk of a data breach increases daily. This is why there’s a greater emphasis to examine the importance of cyber security in banking sector processes.

In light of the risk and potential consequences of cyber events, strengthening the security and resilience of cyberspace has become an important mission. The easiest way to work towards a safer cyber world is to work together. Below are links for tips and suggestions to help safeguard you and your accounts.

Phishing Scams

Phishing is the fraudulent attempt to obtain sensitive information such as usernames, passwords and credit card details by disguising oneself as a trustworthy entity in an electronic communication.  Typically carried out by email spoofing or instant messaging, it often directs users to enter personal information at a fake website which matches the look and feel of the legitimate site.

Phishing is an example of social engineering techniques being used to deceive users. Users are often lured by communications purporting to be from trusted parties such as social web sites, auction sites, banks, online payment processors or IT administrators.  Quiz yourself and get more information on how to identify whether that communication is really from your bank - or a fraudster.

Cyber Security Tips

Computer-related crimes affecting businesses and consumers are frequently in the news.  While Federally insured financial institutions are required to have vigorous information security programs to safeguard financial data, financial institution customers also need to know how to steer clear of the fraudsters.  Here are 4 things you can do to keep yourself cyber safe.

Social Engineering

Social engineering is the art of manipulating people into performing actions or divulging confidential information, rather than by breaking in or using technical cracking techniques.  While similar to a confidence trick or simple fraud, the term typically applies to trickery or deception for the purpose of information gathering, fraud or computer system access; inmost cases the attacker never comes face-to-face with the victim.  Social engineering using impersonation (e.g. to gain information over the phone, or to gate-crash) is known informally as blagging.  In addition to criminal purposes, social engineering has also been employed by debt collectors, skip tracers, private investigators, bounty hunters and tabloid journalists.  

First National Bank of St. Ignace will never contact a customer via phone, email, fax or text to request Online Banking credentials, SSN, PIN, password, account numbers, user names, etc.  Should you suspect fraudulent activity on your account, contact First National Bank of St. Ignace immediately at      906-643-6800.