Online and Mobile Banking: A Helpful Resource to Detect Fraud

Examples of common scams aimed at accessing your online accounts may include:

You receive a call or text message from someone claiming to be from your financial institution's fraud or security department.

If it's a phone call, the caller ID displays your financial institution's number (because it has been spoofed to match). Text messages may direct you to call your financial institution at a different number or click a link. 

The communication may alert you to fraud or suspicious transactions on your account. (You don't recognize these because they are made up.)

They ask for multiple pieces of verifying information, like your mother's maiden name, online banking username, or password. Remember, financial institutions do not call and ask multiple identifying questions.

The communication may tell you that your account has been unauthorized online and that you must verbally verify your online password. (Financial institutions would never ask for your online password.)

Proactive Monitoring and Security Measures

Some helpful practices and tools that can help you monitor any fraudulent activity include:

Credit Monitoring:

• Regularly check your credit reports and scores for any unusual activity, such as unauthorized credit card applications, that could indicate identity theft.
• Take action using My Credit Score, powered by SavvyMoney. This is free for our customers through online and mobile banking. It will not only help you understand your credit score with access to a complete credit report, but the solution also provides an added level of credit protection by providing real-time credit monitoring alerts.

Online Banking Utilize Account Alerts:

• Activate account alerts to be promptly informed about any activity, enabling swift action against fraud.
• Take action by following these steps to set up the alerts you want to receive.
  1. Log onto online banking.
  2. Click on Alerts/Settings.
  3. Choose the frequency and type of alerts you wish to receive.

E-Statements:

• Switching to electronic statements reduces the risk of sensitive information being intercepted from a physical mailbox.
• Take action by signing into First Reliance Bank's online banking and clicking the E-Statements tab to enroll. Mobile App users can enroll by clicking More/ Settings and Alerts.

With First Reliance Online and Mobile Banking, you can access your accounts anywhere you can access the web. Once enrolled, click the appropriate link in the footer to download the Mobile App from the Apple Store or Google Play Store. Log in using your Digital Banking credentials, and you'll have a bank in your pocket wherever you go.

At First Reliance, we strive to help our customers avoid the noise while protecting their banking interests. We believe that there is more to banking than money. Please do us a favor and share this post with your friends. They will be glad you did.