Commercial Banking Customers
At Cornerstone Bank, the security of customer information is a priority. We are strongly committed to the safety and confidentiality of your records. Every day, unscrupulous individuals are busy developing new scams targeting the unsuspecting public. One of the best ways to avoid fraud is to become an educated user.
Small to Medium sized business and government banking accounts are being targeted by criminals every day.
Every security system in place today can and has been compromised by criminals. No system that the Bank has put in place can catch 100% of fraudulent attempts.
Commercial Accounts and Government Accounts are not covered under Regulation E.
In most circumstances, you may be responsible for assuming the loss on fraudulent transactions. It is vital that you are following best practices:
Your responsibilities:
- Ideally, dedicate a single PC for online financial transactions and prohibit any other form of web surfing on this PC.
- Establish a separate account for the origination of each type of transaction (ACH origination/Wire Transfer etc., if applicable).
- Ideally, fund those accounts with only enough funds to cover the planned transactions on a daily basis.
- Establish dual control over the setup and creation of new user accounts and new payees on all financial systems.
- Run summary reports of all transactions to ensure they are accurate.
- Always review your transactions the next business day to determine if fraudulent activity has occurred.
- Maintain up-to-date anti-virus software on your computer systems at all times. Patch your operating system weekly and ensure that you are updating Java and Adobe applications weekly as well, if applicable. Vulnerabilities in these applications are commonly exploited by criminals.
- Utilize a unique complex password (Upper Case, Lower Case, Special Characters) at least 8 characters long and change it every 30-45 days.
- Never provide your account number or username/password in any written communication to the bank, including email.
- Watch out for copycat websites that deliberately use a domain name that is similar to, but not the same as, your intended destination. The “phony” sites attempt to trick the user into divulging personal information.
- Always use your pre-established link to access websites. Never click on a link contained in an email.
The Bank’s responsibilities:
- On at least an annual basis, the Bank reviews its online banking controls and will adjust them, if necessary.
- Review the current fraud trends at least quarterly to determine if changes are required in regards to current security controls and provide alerts to our customer base.
- Monitor ACH, Wire Transfer, ATM and Bill Pay transactions for suspicious activity on your account.
- Block all foreign ATM Transactions from countries specifically noted through fraud trend analyses via the Bank and our ATM provider.
- We utilize multi-factor authentication and static knowledge based security challenge questions. (We will be upgrading to dynamic knowledge based questions this year.)
Remember: The Bank will never ask you for your password or pin number!
While these layered processes are designed to prevent fraud, please be aware that despite the efforts of Cornerstone Bank, no security measures are perfect or impenetrable. Please remember that email may or may not be secure and you should not send any confidential or sensitive information to the Bank via email. Be vigilant and monitor your account at all times.
In case of errors or questions about your electronic transfers, call or write us at the telephone number or address listed, as soon as you can. Call Customer Service at (800) 939-9103.
If at any time you have questions regarding security or possible fraud, please contact our customer service representatives at (800) 939-9103 or via e-mail at customerservice@cornerstonebank.com.
