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Protecting Your Accounts

Compromised online banking credentials and confidential information can result in damage to you and your reputation. Here are few suggestions on how to protect your finances and private information.

How does it happen?

Generally malicious software, commonly called malware, is delivered in an email disguised as a legitimate request which urges the user to click on the link or activate an attachment, infecting the entire network and allowing criminals to view everything you or your family does.

What happens if our computers are infected?

Criminals often monitor an infected network for months to harvest as much information as possible, such as identities, personal information, and credit card numbers, before they take over the accounts. Too often, a victim is not aware of the infection until after their accounts are taken over and funds are removed. If you suspect your computers are infected, contact Legacy Bank immediately so we can monitor your accounts while you resolve the issue.

How does Regulation E apply to a consumer using Online Banking and/or BillPay?

Regulation E is a consumer protection law for accounts such as checking or savings, established primarily for personal, family, or household purposes. Non-consumer accounts, such as Corporation, Trust, Partnerships, LLCs, etc., are excluded from coverage. Regulation E provides consumers a means to notify their financial institution that an EFT has been made to their account without their permission. If you are unsure if your account is protected by Regulation E contact us.

What protections are provided to consumers under Regulation E for consumers who use Online Banking and/or BillPay?

If you believe an unauthorized EFT has been made to your account, contact us immediately. If you notify us within two business days after you learn of the unauthorized transaction the most you can lose is $50. Failure to notify the bank within two business days may result in losses up to $500.

No liability limit:

Unlimited loss to a consumer account can occur if:

• The periodic statement you receive reflects an unauthorized transfer of money from your

account, and

• You don’t report the unauthorized transfer to the bank within 60 days after the statement was mailed, and

• The loss could have been avoided if you had given timely notice.

What can I do to protect my network and accounts?

Every network is unique so there is no single solution for everyone. We encourage you to contact your IT provider about these threats to identify ways to protect your network.

Here are a few things to consider: (This is not a complete list of options)

• Keep your Security Suite up-to-date with all necessary patches. Ensure the Suite includes bot-net protection, anti-spyware, anti-malware, and scans every file before it is downloaded.

• Run network scans to identify malware already present or malware that slipped passed the Security Suite.

• Do not click on links or open attachments in emails from unknown senders or in emails that do not make sense (i.e. The U.S. District Courts will never send subpoenas via email).

• Avoid conducting online banking from public, free Wi-Fi connections.

• Use hardware and software firewalls.

• Encrypt VPNs.

• Block websites that network users are prohibited from visiting and websites known to carry malware.

• Layer security options to put as much resistance between your network and cyber threat as possible.

• Notify Legacy Bank if you are experiencing problems with your online banking platform (i.e. pop-ups even though you have enabled pop-up blocker, can’t shut the computer down, you type in the address to one website and are redirected to a different website, your online banking sign-on page looks different than normal, etc).

• Legacy Bank will never contact you requesting your online banking username and password.

• Never share your online credentials.

• Review your account daily, especially pending or recently sent wires or ACH files.

We recommend taking time annually to assess the changes in your electronic banking security needs. Legacy Bank’s Online Banking Department is available Monday – Friday from 8AM to 5PM to help with your concerns. We can be reached toll free at 800-687-9688.

Courtesy of EPCOR™. EPCOR is a not-for-profit trade association headquartered in Kansas City, Missouri, that provides financial institutions and their business customers with reliable payments and risk management education, information, support and national industry representation.

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