IMPORTANT ADVISORY

Windows XP Support

Support for Windows XP from Microsoft ended April 8, 2014.

Microsoft will no longer provide security updates or technical support for Windows XP. 

Security updates patch vulnerabilities that may be exploited by malware and help keep

users and their data safer. PCs running Windows XP after April 8, 2014, should not be

considered to be protected. You may want to consider moving to a supported version  

on Windows to ensure your PC is protected.

 Computers using Windows XP will continue to be able to access internet banking;  

however, we will no longer be able to assist you in resolving any conflicts between

internet banking and Windows XP.

For more information about Windows XP please visit Microsoft's website.

 

Online Security

At Preferred Bank we take security very seriously. The latest methods in internet system security, as upgraded from time to time, are used to increase and monitor the integrity and security of our system.

Internet security does not rely on one technology alone.  Without everyone's participation, all the security systems and technology in the world are worthless.  You must treat your User ID and password with the utmost confidentiality.  Passwords should NOT consist of obvious data about the user (i.e. children's names, birthdays or spouse's name).  Selecting letters that do not create a common word but instead represent the first letter of each word in a favorite phrase, poem or song can create a memorable but difficult to crack password.

Data security between the customer browser and our web server is handled through a security protocol called Secure Sockets Layer (SSL).  SSL provides data encryption, server authentication and message integrity for an internet connection.  In addition, SSL provides a security "handshake" that is used to initiate the connection.  This handshake results in the client and server agreeing on the level of security they will use and fulfills any authentication requirements for the connection.  Currently, Preferred Bank's online banking application supports data encryption at the highest level (128 bit).  In order to get this level of encryption, you will need a browser that supports it.  Please consult your browser's technical requirements.

Enhanced Online Security

Preferred Bank continues to add additional security measures to our online banking services so that our customers have the confidence that their information is being protected.  Preferred Bank has two different layers of security that are designed to protect your financial information. 

  • Device Print security requires that all users select challenge questions and answers, select a unique image and create a personal description for that image that is only known to you.  Each time you log in thereafter, the image will appear to verify to you that you are on the official Preferred Bank website before entering your password.  Additionally, the authentication of your computer is verified.  Preferred Bank has the ability to recognize the computer or computers from with you usually log on.  If our system detects a suspicious login due to an unfamiliar computer, it will automatically present you with challenge questions that were previously selected.
  • One Time Password (OTP) devices are provided to select customers that have more complex online banking needs.  This method requires the use of a token device that generates a random code used in connection with a personal password each time the users logs in to verify their identity.  Additionally, a response code is given back from the device that authenticates the official Preferred Bank website.

Protect Yourself from Identity Theft 

How to Prevent Identity Theft

  • Keep your personal information private and secure.  If you are being asked to provide your personal information, make sure you know who you are dealing with and use a shredder to destroy any personal documents that are no longer useful.
  • Place passwords on accounts for your credit card, bank and phone.  Avoid using easily available information like your birthdate, your Social Security number or your phone number
  • Don't give out personal information on the phone, through the mail or on the Internet unless you've initiated the contact or are sure you know who you are dealing with.
  • Deposit your outgoing mail in post office collection boxes or at your local post office.  If you're planning to be away from home and can't pick up your mail, call your local U.S. Postal Service at (800) 275-8777 to request a vacation hold.
  • To obstruct an identity thief who may pick through your trash or recycling bins to capture your personal information, tear or shred any documents that contain your personal information.  To opt out of receiving offers of credit in the mail, call: (888) 5-OPTOUT or (888) 567-8688.
  • Carry only the identification information and the credit and debit card that you'll actually need when you go out.

How to Deal With Identity Theft

  • Place fraud alerts on your credit report.  Fraud alerts can help prevent an identity thief from opening any more accounts in your name.  Close the accounts that you know, or believe, have been tampered with or opened fraudulently.
  • File a report with your local police.  When you file a report, provide as much information as you can about the crime, including the date, time and place of the identity theft and the fraudulent accounts opened. 
  • File a complaint with the Federal Trade Commission.  You can always file a complaint online at www.consumerfinance.gov/learnmore or call toll-free (877) IDTHEFT or (877) 438-4338

Exercise your rights to review your credit report and report fraudulent activity.  To order your free annual credit report from one or all the national consumer reporting companies, visit www.annualcreditreport.com or call toll-free (877) 322-8228.

For more information about the steps to take on obtaining your credit report, contact the credit bureaus listed below:

Corporate Account Takeover

Corporate account takeover is a type of fraud where thieves gain access to a business' finances to make unauthorized transactions, including transferring funds from the company, creating and adding new fake employees to payroll, and stealing sensitive customer information that may not be recoverable.  It is important that all businesses be aware and prepared for this risk.  

To find out more about corporate account takeover, please see the American Bankers Association's® Small Business Guide to Corporate Account Takeover.