Safe Banking

Banking Tips

We are committed to helping ensure the safety of your financial identity, your financial assets, and your personal information, but we need your help. We ask that you observe the following best practices.

• Never give out personal info, passwords or PIN numbers over the Internet. The Bank will not call or email you for your information. Do not disclose any part of your Login credentials to anyone. Especially while on the telephone or while using the Internet.
• Do not leave your account information in an area accessible by others. This includes not leaving your computer unattended while connected to Online Banking.
• Please remember many e-mail systems are not secure. Do not send your Password or sensitive account information in any public or general e-mail system.
• You are responsible for the security of your computer. You should install a personal firewall or use firewall software on your computer and/or your network. Also purchase and install anti-virus and anti-spyware software and perform regular scans of your computer.
• Change your passwords on a regular basis and choose passwords that are difficult to guess. Include punctuation, special characters, numbers and upper and lower case letters when creating a password.
• Don't write down your password. Memorize it. When you are finished accessing Online Banking, make sure you logout andclose the browser.
• Beware of Phishing! Phishing involves the use of seemingly legitimate email messages and websites to trick customers into disclosing sensitive information, such as bank account information, social security numbers, credit card numbers, passwords, and personal identification numbers (PINS). Some fraudulent email messages request the customer to update or validate their financial or personal information in order to maintain their accounts. But what is is really doing is directing to a fake website that may look like the website of a legitimate business.
• Review and reconcile your accounts frequently and report any suspicious activity to First Southwest Bank immediately.
• Establish internal controls, set transaction limitations, and impose a dual control environment.
• Prohibit the use of “shared” usernames and passwords.
• Always verify use of a secure session by noting the https (not http) in the browser’s web address bar. You can also look for the lock either next to the address bar or at the bottom right hand corner of your browser.
• If you believe that your accounts or security codes have been compromised, contact the bank immediately.

Online Security

When signing up for many online accounts, security questions are sometimes required. The questions are used to authenticate the user, recover or reset a password. However, due to the vast amounts of personal info available on social media and the internet, many of those questions can be easily guessed.

If a website requires security questions, don't answer them truthfully. Instead, use something unique, random, and treat it like a strong password. Avoid common words or phrases, and the longer, the better. It would be best to use a random mix of uppercase, lowercase, numbers & special characters, or a passphrase, which is a sentence like a string of random words. If you have to answer more than one security question, you could use the same complicated answer for each question to make it easier to manage.

You should always limit the amount of personal information you post on Social Media.

Online Social Media quizzes should never be completed. Those seemingly harmless quizzes are sometimes apps designed to gain access to your personal information. In many cases, data mining doesn't stop when you finish taking the quiz. Once an app or website has connected to your Facebook account, the developer can maintain that connection for months and continue to request information about your profile and posts.

What's the harm in answering a few questions to prove how well you know a friend or fun facts about yourself? Some of the mixed questions are common security questions for Online Banking, credit cards, and other personal accounts. Those questions that get shared by many of your friends may very well have originated by fraudsters wanting to steal identities, hack online banking accounts, or gather enough information to be able to impersonate unaware Facebook users.

Be mindful of social engineering. Social engineering happens when a malicious actor manipulates someone on the internet into providing confidential information. It usually occurs when they impersonate a friend or family member on social media. You should never accept friend requests from people you are already connected to or don't know. It is wise to remove personal details from your profile like phone number or address. Review your privacy settings and be strict about what info you share.

Identity Theft

Tips to help prevent Tax ID Fraud

Tax identity fraud takes place when a criminal files a false tax return using a stolen Social Security number in order to fraudulently claim the refund. Identity thieves generally file false claims early in the year and victims are unaware until they file a return and learn one has already been filed in their name.

First Southwest Bank is offering the following tips to help prevent tax identity fraud:

• File early. File your tax return as soon as you’re able giving criminals less time to use your information to file a false return.
• File on a protected Wi-Fi network. If you’re using an online service to file your return, be sure you’re connected to a password-protected personal network. Avoid using public networks like a Wi-Fi hotspot at a coffee shop.
• Use a secure mailbox. If you’re filing by mail, drop your tax return at the post office or an official postal box instead of your mailbox at home. Some criminals look for completed tax return forms in home mailboxes during tax season.
• Find a tax preparer you trust. If you’re planning to hire someone to do your taxes, get recommendations and research a tax preparer thoroughly before handing over all of your financial information.
• Shred what you don’t need. Once you’ve completed your tax return, shred the sensitive documents that you no longer need and safely file away the ones you do.
• Beware of phishing scams by email, text or phone. Scammers may try to solicit sensitive information by impersonating the IRS. Know that the IRS will not contact you by email, text or social media. If the IRS needs information, they will contact you by mail first.
• Keep an eye out for missing mail. Fraudsters look for W-2s, tax refunds or other mail containing your financial information. If you don’t receive your W-2s, and your employer indicates they’ve been mailed, or it looks like it has been previously opened upon delivery, contact the IRS immediately.

If you believe you’re a victim of tax identity theft or if the IRS denies your tax return because one has previously been filed under your name, alert the IRS Identity Protection Specialized Unit at 1-800-908-4490.

Social Engineering

Every year millions of dollars are lost to Social Engineering. It's a type of fraud that's hard to detect and stop; it's based on a criminal's ability to exploit the basic human tendency to trust. It's fraud by deception.

The fraudsters pose as trusted sources and manipulate victims into taking specific actions, like sending wire transfers or giving out confidential information.

Social Engineers use a wide array of tactics to get information that helps them win over their victims' trust. They do things like phishing or dumpster diving, website spoofing, retest calling, or impersonating a company employee or business associate. It could look like an email, phone call, or a text from a friend or other trusted source. Once the criminals gather enough information to appear legitimate, they contact their victims to set the scheme into motion.

How can you stop it?

Become a human firewall. It's important to be vigilant. Slow down. Spammers want you to act first and think later. NEVER EVER provide any sensitive financial information until you have verified to whom you are speaking. One easy way of doing that is by reaching out to us. If someone calls you saying they are from First Southwest Bank and you're suspicious, ask their name and location and hang up the phone. Then call us back at (866) 641-3792. You can do the same if you receive a text or an email.

Don't ever get pressured into giving out sensitive information. It’s important to remember to never, under any circumstances give sensitive information like User Name, Password, debit card PIN or Secure Access Code. First Southwest Bank does not ask for that information.

Online Fraud

On the Web, there are new types of criminals called “phishers”. These people may send very realistic e-mails pretending to be from your bank or some other organization you trust.

They are also using screens that pop up while you are on someone’s website trying to place an order. They may tell you your account is blocked until you update your files. Then they may ask you to provide sensitive account information like a PIN, social security number, accounts and card numbers or passwords.

Email Use:

• Be alert for fraudulent emails, even though they appear to be from a reputable source.
• Delete any email that requests your personal information immediately. Do not respond to it. Reputable businesses never request personal information in an email.
• Never send your personal information via an unsecured email.
• Do not open email attachments from unknown or unsolicited senders.
• Be careful when clicking on a link in an email. Even though it is identical to the actual company’s website, it could be fraudulent. To check, open a new browser window and manually type in the URL provided in the email. If they don’t match, delete the email with the suspicious link immediately.

Online Safety:

• If you visit a website that is not what it claims to be, leave it immediately.
• Be sure to do business only with companies you know and trust.
• Watch carefully for imitation websites designed to trick you into giving out personal information.
• Any sites that you do business with should have their Privacy and Security Statements listed on the website. Read them carefully.
• Only provide sensitive personal or financial information when you have initiated it and only if the page is secure.
• Choose passwords or Personal Identification Numbers (PINs) that are difficult to guess and use a different password for each of your Internet accounts. Change these passwords often.

Online Crime Prevention Tips:

The FBI urges consumers to protect themselves when shopping online. Here are a few tips for staying safe:

• Be cautious if you lose an auction on an auction site, but the seller contacts you later saying original bidder fell through.
• Make sure websites are secure and authenticated before you purchase an item online. Use only well-known escrow services.
• Research to determine if a car dealership is real and how long it has been in business.
• Be wary if the price for the item you would like to buy is severely undervalued; if it is, the item may be fraudulent.
• Scan files before downloading them to your computer.
• Keep your computer software, including the operating system, updated with the latest patches.
• Ensure your anti-virus software and firewalls are current - they can help prevent malware infections.

Virus Protection:

• Keep current versions of you computer’s operating system and Internet browsers.
• Make sure you promptly disconnect from the Internet when you are not online.
• Keep your anti-virus software up-to-date to guard against new viruses. Download the anti-virus updates as soon as you are notified.
• Always back up the files on your computer.