Protect Your Business

Scams can happen in different ways, but they all target your sensitive business information and your money.

• Check Fraud
  Check Fraud can happen when one of your checks is intercepted along its away to the payee. A fraudster can either alter the original check or make counterfeit checks using your logos, authorized signatures, account and routing numbers. Learn more about check fraud here.
• Business Email Compromise
  Business email compromise (BEC) is a sophisticated online scam that involves gaining unauthorized access to email accounts to transfer funds or gain access to sensitive data. Learn more about BEC here.
• Tech Support Scams
  Tech support scams start with a call or an alarming pop-up message pretending to be from a well-known company, telling you there is a problem with your computer security. Their goal is to get your money, access to your computer, or both. They may ask you to pay them to fix a problem you don’t really have or enroll your business in a nonexistent or useless computer maintenance program. They may even access sensitive data like passwords, customer records, or credit card information.
• Social Engineering, Phishing, and Ransomware
  Cyber scammers can trick employees into sending them money or giving up confidential or sensitive information like passwords or bank information. It often starts with a phishing email, social media contact, or a call that seems to come from a trusted source — for example, a supervisor or other senior employee — that creates urgency or fear. Other emails may look like routine password update requests or other automated messages but are actually attempts to steal your information. Scammers also can use malware to lock organizations’ files and hold them for ransom.
• Business and Government Impersonation Scams
  Scammers pretend to be someone you know or trust and try to scare or rush you into paying or giving them information. For example:
  • Scammers say they’re calling from a utility company and your gas, electric, or water service is about to be interrupted because of a (fake) late bill.
  • Scammers say they’re a government agent and threaten to suspend your business licenses, fine you, or even sue you. They might say it’s because you owe taxes or need to renew a license or registration.
  • Some scammers trick you into paying to apply for so-called business grants from government programs that turn out to be fake.
  • Some scammers say they’re calling from a tech company, threatening that your business will lose its website URL if you don’t pay immediately.

Be aware of these red flags of business scams.

• Scammers pretend to be someone you trust. They impersonate a company or government agency you know to get you to pay. But it’s a scam.
• Scammers create a sense of urgency, intimidation, and fear. They want you to act before you have a chance to check out their claims. Don’t let anyone rush you to pay or to give sensitive business information.
• Scammers ask you to pay in specific ways. They often demand payment through wire transfers, cryptocurrency, or gift cards. Don’t pay anyone who demands payment this way. It’s a scam.

Here are 7 easy cybersecurity tips for keeping your business information secure.

• Train Your Employees
  Your best defense is an informed staff. Train employees not to send passwords or sensitive information by email, even if the email seems to come from a manager. Explain to your staff how scams happen and encourage them to talk with their coworkers if they suspect a scam.
• Do Not Share Passwords or Passcodes
  Scammers will attempt to trick you into providing your password for online and mobile banking. They may even ask for a passcode that has been sent to your mobile device. Do not share these items!
• Use Different Passwords for Every Account
  If one account is breached, other accounts with the same credentials can easily by compromised.
• Create A Strong, Long Password
  Strong passwords make it significantly more difficult for hackers to crack and break into systems. Strong passwords are considered over eight characters in length and comprised of both upper and lowercase letters, numbers, and symbols.
• Implement Two-Factor Authentication
  If available, enable two-factor authentication. In addition to traditional credentials, like username and password, users have to confirm their identity with a one-time code sent to their mobile device. The idea is that with two-factor (or multi-factor) authentication, guessing or cracking the password alone is not enough for an attacker to gain access.
• Install Antivirus Software
  Antivirus software can safeguard your device against viruses, rootkits, spyware, trojans, ransomware, and other types of malware.
• Be Cautious of Links
  Links in emails are a common tool used by hackers to trick individuals into giving up their secure information. This is often in the form of banking statements, flight reservations, password recovery emails, and more.

If a user clicks on one of these links, they are taken to a fake site that looks eerily similar to its real counterpart. The site will ask them to login or input private information. Once a hacker has their hands on this information they have access to the user’s account.

So, be aware of the links in your emails. If something looks suspicious, don’t click on it. In fact, the safest bet is to visit a provider’s site directly as opposed to using an email link.

Being able to respond and act quickly to prevent fraudulent activity from occurring on your account is critical. Utilize these features available through Online and Mobile Banking to stop fraud quickly.

• Check your Balances and Review Transactions Daily through Online or Mobile Banking to make sure there are no fraudulent or unauthorized transactions. If you notice suspicious activity on your account, report it immediately!
• Use Card Controls in the Mobile Banking App to set up alerts, and spending limits, limit the location a card can be used and even turn off your debit card in real-time.

Avoid skimming devices commonly installed on gas pumps or card readers at stores by using your LifeStore Debit Card’s “tap” feature in transactions that allow this form of payment. Your LifeStore Debit Card can also be added to your Mobile Wallet on your mobile device as another simple and safe way of payment.

To help reduce potential check fraud, business customers can utilize LifeStore Bank’s Positive Pay feature. Positive Pay allows you to review, accept or decline incoming checks prior to posting to your account.

Cybersecurity insurance, also known as cyber insurance or cyber liability insurance, is a type of insurance that protects businesses from the financial and legal consequences of cyber-attacks and data breaches. For more information visit lifestoreinsurance.com.
Products offered by LifeStore Insurance are: NOT DEPOSITS, NOT FDIC-INSURED, MAY LOSE VALUE, NOT GUARANTEED BY THE BANK OR ANY FINANCIAL INSTITUTION.

If you notice unusual activity on your LifeStore Account, contact us immediately at 1-800-723-4718 Monday-Friday, 8 AM - 6 PM.

If appropriate, you can reset your online banking password and use Card Controls in the LifeStore Bank Mobile App to turn off your debit card.

With Card Controls on the LifeStore Bank Mobile App, you can ensure no one can use it by turning your card "off". You can also call 1-800-500-1044 to report your lost or stolen card or call 1-800-723-4718 Monday-Friday, 8 AM - 6 PM.

Has your online or mobile banking account been taken over? Follow these steps for recovery:

• Contact us immediately at 1-800-723-4718 Monday-Friday, 8 AM - 6 PM. Inform us that your account has been taken over.
• Update software. Perform all software updates as soon as they’re available, as they might contain patches for security vulnerabilities.
• Install antivirus software. Antivirus software might be able to quarantine any viruses or malware and detect suspicious behaviors, which could help you deal with a device that’s been taken over along with your account.
• Contact a local tech support shop. If you are not sure how to install antivirus software, contact a local tech support shop. They will be able to scan your device and assist you in removing any viruses or malware.
• Review accounts. Especially if you use the same password for multiple accounts, check your other accounts, particularly social media accounts, for signs of compromise. Report any unusual transactions or activity on the accounts.
• Review Staying Safe Online – Cybersecurity Best Practices for additional tips.

You may elect to file a police report with your local police department. Additionally, filing a report with the Federal Trade Commission assists in investigating and bringing cases against fraud, scams, and bad business practices.