Freedom's Tips for Preventing Fraud in your Personal Account

As you have likely heard through a variety of news media outlets, electronic and check fraud is on the rise and, like most banks, we are seeing more and more attempts every day. To help combat the fraudsters, and protect your accounts, Freedom Bank recommends that you keep a close eye on your transaction activity and notify us immediately if you notice something unexpected or unusual. The federal banking system rules include very specific (and limited) timelines for returning checks and ACH transactions, sometimes as short as 24-hours. Meeting those deadlines assure that funds can be recovered. After those deadlines (24-hours for checks and generally 2 business days for ACH items) the likelihood of recovering the lost funds drops significantly. We work hard to help you stay ahead of the bad guys but we need your help to keep you safe. Here’s our list of Top 10 Ways to Protect your Accounts:

1. Keep your contact information up to date
2. Use strong passwords. Go for length and complexity
3. Protect your personal information – don’t use any part of your social security number or other sensitive information as a passcode
4. Keep your account access information secure – never share your user ID and password with anyone
5. Be alert to suspicious emails
6. Verify email attachments
7. Protect your devices with the most current operating systems including “fixes and patches” provided for your software systems
8. Use Multi-Factor Authentication when logging in to the portal. The bank will send a one-time code via SMS to the mobile phone associated with your account
9. Review your account daily – notify the bank immediately if you notice unusual or unauthorized activity
10. Secure your smartphone – use passcodes, patterns or biometrics to make it difficult for someone to access your accounts

Fraudsters are determined and creative – working together we can help keep your accounts safe. Please contact your local Branch Manager for more information (and ideas) on how to protect your accounts. We look forward to speaking with you!