The Bank of Elk River serves the financial needs of individuals and businesses in Elk River, Otsego, and Zimmerman Minnesota.
Your online passwords are the keys to protecting your personal and financial information. Changing your password regularly will help ensure the security of all your online accounts as well as the information and the money they give you access to. When changing your password be sure to use strong passwords. Strong passwords are considered to be at least 8-characters long. World Wide Banker passwords need to be a minimum of 8 digits in length and any combination of alpha, numeric, uppercase, lowercase and special characters up to 25 digits in length. Make your password easy to remember but hard to guess. Use combinations that you know but wouldn’t make sense to others. A good password could be 26kDw*gm4. In addition, you should never use the same password on multiple sites. If one site is compromised your other accounts could possibly be accessed by the thieves.
At The Bank of Elk River, we are taking action to ensure your confidential information is being protected. A basic element of safeguarding your confidential information is to guard against unauthorized access or use of this information. The Bank of Elk River maintains physical, electronic and procedural safeguards that comply with federal guidelines to guard your nonpublic personal information against unauthorized access or use. Our employees are subject to code of ethics and other policies that require maintaining the confidentiality of customer information.
The Bank of Elk River will continue to enhance and maintain prudent security standards and procedures to protect against unauthorized access or use of your nonpublic personal information and records.
We will never email, call or otherwise ask you for your user name, password or other electronic banking credentials.
The Bank of Elk River encourages you to help us protect your information and to keep your information accurate. If you think your Bank of Elk River account information could be at risk, or if you believe that any of your information is not accurate, please call us at 763-241-8522 or toll free at 1-888-293-2265.
Your computer can be a goldmine of personal information to an identity thief. Here’s how you can safeguard your computer and the personal information it stores:
Install and update your anti-virus and anti-spyware software frequently. Computer viruses can have damaging effects, including introducing program code that causes your computer to send out files or other stored information.
Look for security repairs and patches you can download from your operating system’s website.
- Never open or download attachments from unverified or unknown sources.
- Use a firewall, especially if you have a high-speed or “always on” connection to the internet. The firewall allows you to limit uninvited access to your computer. Without a firewall, hackers can take over your computer and access sensitive information.
- When you’re submitting information, look for the “lock” icon on the status bar. It’s a symbol that your information is secure during transmission.
- Avoid using an automatic login feature that saves your user name and password. Remember to sign-off when you’re finished banking online or leave the room for a few minutes.
- Delete any personal information stored on your computer before you dispose of it. Use a “wipe” utility program, which overwrites the entire hard drive and makes the files unrecoverable.
There are a number of ways to help guard against unauthorized use of your account and protect your identity:
- If you do not recognize the sender of an email or have any doubts about the authenticity of an email, do not respond and delete it immediately.
- Do not open an email or click on links or attachments, especially if they tell you the problem is urgent or the attached file ends in “.exe”; “.com”; “.bat”; “.cmd” or “.pif”
- Always use secure passwords. A secure password consists of upper and lower case letters, numbers and special characters (see: “Password Security” section above). Never share your password with anyone.
- Do not include personal or sensitive data in, or in response to, an email.
- Monitor your account activity closely and watch for unusual activity. You can use our World Wide Banker online banking to monitor account balances, 24/7.
- Sign up for our e-statements, direct deposit and our World Wide Banker Bill Pay for convenient and secure paperless options.
- When you finish your online banking sessions, be sure to log out.
Identity theft occurs when someone uses your personal identifying information, such as your name, Social Security number or debit/credit card number, without your permission, to commit fraud or other crimes. The Federal Trade Commission has online guidance about the steps consumers can take to protect themselves against identity theft. For more information about identity theft, visit the FTC website.
Here are some tips on how you can prevent ID theft:
- Shred financial documents no longer needed, pre-approved credit offers, receipts and other paperwork that may contain financial and personal information.
- Retrieve and review your mail promptly. Deposit outgoing mail with checks enclosed in a post office blue collection box or at your local post office instead of an unsecured mailbox.
- Protect your Social Security number. Don’t carry your Social Security card in your wallet or write your number on a check. Give it out only when absolutely necessary.
- Limit the identification information and the number of credit and debit cards that you carry to what you’ll actually need.
- Store your Social Security card, other identification cards, infrequently used credit cards, checks and account statements in a safe and secure location.
- Keep your purse or wallet in a safe place at work. Never leave your purse or wallet inside your vehicle unattended.
- Don’t give our personal information on the phone, through the mail or over the internet unless you’ve initiated the contact or you can confirm that the individual and company are legitimate.
- Review your credit reports frequently to ensure the information is up to date and accurate. Work with the credit reporting agencies to have any inaccurate information removed.
- Frequently monitor your financial accounts and report any suspected fraudulent transaction immediately.
Use social media wisely. Social media connects families and friends with colleagues and businesses through powerful online communities. However, just as in real world communities, you should be careful what you share and how you share it to stay safe online.
Use privacy controls to restrict who can see your profile and posts. Options change frequently and you should check and update your settings often.
When posting, keep in mind that even a deleted post may have already been copied and the content may still be in the providers system even if it is no longer visible. Don’t reveal too much information. Personal information such as where you live, work, or go to school could be used against you. Revealing travel plans can give an indication that your home may be unoccupied.
Social media has seen an increase in phishing as people migrate away from email. Beware of links from friends or business users whose accounts you have not verified. These links could infect your computer with malicious software and put your information and online activity at risk.
Spam e-mails are targeting commercial businesses and attempting to infect their computers with banking malware, such as Zeus, Backdoor.bot and SpyEye.
- Zeus is capable of stealing multifactor authentication tokens, allowing cyberthieves to log in to bank accounts with user names, passwords and token ids.
- Backdoor.bot has worm, downloader, keylogger and spy ability. It allows fraudsters to remotely access an infected computer, deepening the infection by downloading additional malware from a remote server.
- SpyEye, a backdoor Trojan, runs as a service process in the background, allowing unauthorized remote access to the compromised computer.
The current attraction for overseas fraudsters is clearly small and medium-sized businesses, which, combined with the larger bank balances, represent much better financial yields to the fraudsters than when consumers are targeted.
Here are some tips on how to protect your business bank accounts:
- Electronic banking should be done by two different people, one to initiate and one to confirm a transaction. It is best practice to segregate duties among two or more people so no one person has too much access or control.
- Online transactions should only be executed from a dedicated, stand-alone and completely locked down computer system from where email and web browsing are not possible.
- Use updated anti-virus software and install security patches as they come out for all other software.
- Reconcile banking transactions on a daily basis.
- Educate your staff about risks and how to avoid them. (see: "Password Security" section above).
- Limit administrative rights on company workstations to prevent inadvertent downloading of malware (no user web surfing with admin rights).
- Do not delay in terminating the rights to electronic banking applications of former employees.
- Use a firewall to protect from outside intrusions. Hire security experts to probe for both social engineering and technological weaknesses.
Sources: FBI, FS-IASC, NACHA