Over the past decade, the threat and impact from cybercrime continues to rise. Scams and hacking techniques are more sophisticated, new threats are continually being developed and organized crime groups both in the United States and internationally have become a major force in expanding online fraud and theft. To help combat this, the Federal Financial Institutions Examination Council (FFIEC) has issued supervisory guidance designed to help make online transactions more secure in response to a growing online threat environment.
At Byline, we’re committed to ensuring that our online financial solutions have built-in security features which are continually enhanced to respond to evolving and emerging digital threats.
As good neighbors, we care about protecting your privacy and data. So we want to make sure you know that we’ll never call, email or contact you to request your online banking information, such as your:
If you receive such a request, do not provide any information over the phone or via email. Instead, contact us immediately at (773) 244-7000 to report the incident. If you notice any suspicious activity on your account(s) or have received a suspicious call, email, letter or other similar contact regarding your relationship to Byline Bank, please call Byline or contact your local branch for assistance immediately.
Because businesses frequently have more account transactions, with higher dollar values, the FFIEC recognizes these as riskier transactions, and has identified a steep rise in online account takeovers and unauthorized online fund transfers related to business accounts in the last five years.
Recently, small to medium-sized businesses have been primary targets as cybercriminals have recognized that the security controls they have in place are not as robust as that of larger businesses. Analysis indicates enhanced controls over administrative access and functions related to business accounts and layered security using multiple and independent controls would help to reduce these types of crime.
The term “phishing”—as in fishing for confidential information—is a scam that encompasses fraudulently obtaining and using an individual’s personal or financial information. Bank accounts can be the target of thieves and fraudsters. Please be aware of common email phishing scams where the message appears to come from known and trusted sources, such as the Federal Deposit Insurance Corporation, the Internal Revenue Service, or the National Automated Clearing House Association (the ACH payment network). Some red flags that can help you to quickly identify a potential email phishing scam are:
Please be aware that bank accounts are at a heightened risk of such scams, and be sure to protect yourself by first trying to recognize fake messages, and by installing up-to-date virus protection software on your business computers. If in doubt, do not click on links presented in any message you think is suspicious, rather attempt to authenticate any requests via trusted communications channels such as calling a company representative.
Please contact us if you have any questions or concerns.
Identity theft continues to be one of the fastest-growing crimes in the United States and has ranked as one of the top consumer concerns for the past several years.
These crimes continue to evolve and become increasingly complicated, which make it harder for consumers to protect themselves—and easier for criminals to sell confidential personal information on the internet.
If you suspect that your personal information has been compromised, you should:
Although crimes committed at or near ATMs remain low, you should always use common sense to better protect yourself when using an ATM.
Before using an ATM, survey the location. Avoid ATMs located in dark areas, that have obstructions blocking your view or the view of the public, or are in the vicinity of anyone or anything suspicious. If you’re already making a transaction and something suspicious happens, stop the transaction and leave the area.
If you use an ATM in a locked foyer or vestibule make sure the door closes and locks before you start your transaction. Don’t hold the door open for the person waiting behind you. Each person should have their own card to gain entry.
At the drive-up ATM, always be alert to the area around you. Keep your doors locked and the engine running. Open your window only when you are ready to make the transaction. If something or someone in the area looks suspicious, don’t stop at the ATM. If you have already started the transaction, stop it and drive away.
Be prepared to start your transaction when you approach the ATM. Use caution when counting your money. When you are finished, put your receipt, card and money away as soon as possible.
If you’re followed after leaving an ATM, go quickly to a well populated, well-lit area. Report the incident to the police as soon as possible.
Your PIN is confidential. Memorize it because your ATM/debit card cannot function without it. Your PIN prevents anyone else from using your card. Don’t write your PIN on your card or store it with your card. Avoid using your birth date or Social Security number as your PIN. Never give your PIN to anyone. Stand directly in front of the ATM keyboard or number pad to block the view of others standing nearby when you are using your card at the ATM.
Although your ATM/debit card can be used only with the correct PIN, you should report a lost or stolen card to your financial institution at once.
Check your receipts against your monthly statement to reduce the chance of transaction fraud. Report any unauthorized transactions or irregularities to your financial institution.
By following these safety tips, you can help protect your personal safety and privacy every time you use an ATM to make a financial transaction.