Mission Valley Bank News

Scams and Your Small Business

Scams and Your Small Business
from the Federal Trade Commission / June 18, 2018 / 
by Rosario Méndez / Division of Consumer and Business Education, FTC

At the FTC, our mission is to protect consumers, including small business owners. That’s why, when we see scammers taking money from small businesses, we step in. Today, the FTC announced Operation Main Street: Stopping Small Business Scams, a coordinated law enforcement and education effort with state and federal partners, as well as the Better Business Bureau (BBB), to stop scams that target small businesses. READ MORE

What did those scammers do? The law enforcement actions in Operation Main Street involved defendants that tricked businesses into paying for materials they can get free – or paying for expensive license renewals that were not …

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Take Control with Online & Mobile Banking

Take Control with Online & Mobile Banking

Ever wonder how you can keep better track of your spending? Save money more easily? Bank more efficiently? Eliminate late-fee charges on your bills? Even help protect yourself from fraud? The solution for much of these is already right in your hands — Online and Mobile Banking.

These services give you the power to connect with your money anytime, anywhere, and offer tools and features to help you control your money more easily than ever before. You can:…

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CardValet® — A Quick & Simple Solution

CardValet® — A Quick & Simple Solution

Last March, Mission Valley Bank launched CardValet®, a mobile card management application that helps reduce account fraud by allowing cardholders to monitor accounts with their smartphone and control how, when and where their debit card is used.

CardValet was developed in partnership with Fiserv and is available in the Apple® App Store or Google® Play. Once CardValet is set up, cardholders have the ability to “turn off” their card when not in use, establish transaction spending limits and decline a transaction when the amount exceeds a predefined threshold.…

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FTC Releases Alert on Identity Theft

FTC Releases Alert on Identity Theft
Original release date:  May 25, 2017

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Posted by Mission Valley Bank in Fraud Alert, Security, Your Online Safety. Leave a Comment

Identity Theft Today – A Constantly Changing Landscape

Identity Theft Today – A Constantly Changing Landscape
by Marianne Cederlind 
Executive Vice President & Chief Business Banking Officer
Mission Valley Bank

As cyber criminals get craftier, individuals need to arm themselves with facts on identity theft and take the necessary precautions to protect themselves.

Mobile phones and social media are the new frontier -- Fraudsters are expected to introduce as many as 1,000 different phone/social media scams this year, according to one expert. In fact, a social media identity may be more valuable to cyber criminals than credit cards since it offers them the opportunity to manipulate friends. Safety tip: Keep smart phone operating systems up-to-date. Use passwords to gain access to your phone and install apps that enable remote deletion of phone data if it is lost or stolen. (READ

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Posted by Mission Valley Bank in Client & Community Education, Cyber Security, E-Mail and Internet Fraud, Security. Leave a Comment

FAKE EMAILS COULD COST YOU THOUSANDS

FAKE EMAILS COULD COST YOU THOUSANDS

Think you got an email from a business you know? Scammers sometimes use emails that look legit to trick you into sending money to them. The email might say it’s from a real estate professional you’re working with, telling you there’s a last-minute change and you should now wire your closing costs to a different account. Or it could seem to be an email – with an invoice – from your utility company, telling you to wire payment. Whatever the story, if you wire that money, it goes to the scammer – and you may never see your money again. These scammers might get your information by hacking into a business. Once they know about you, they send an email that seems to come from

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Posted by Mission Valley Bank in Cyber Security, Fraud Alert, Security, Your Online Safety. Leave a Comment

Business Travelers Beware!

Business Travelers Beware!

Courtesy of CYBERHEISTNEWS
There is a new spin on an existing phishing scam you need to be aware of.  Bad guys are doing research on you personally using social media and find out where and when you (might) travel for business. Next, they craft an email especially for you with an airline reservation or receipt that looks just like the real thing, sent with a spoofed "From" email address that also looks legit. …

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Posted by Mission Valley Bank in Client & Community Education, Cyber Security, E-Mail and Internet Fraud, Fraud Alert, Security, Your Online Safety. Leave a Comment

Mission Valley Bank Launches CardValet®

Mission Valley Bank Launches CardValet®

Mission Valley Bank is excited to introduce CardValet®, a mobile card management application that helps reduce account fraud by allowing cardholders to monitor accounts with their smartphone and control how, when and where their debit card is used.

CardValet was developed in partnership with Fiserv and is available in the Apple® App Store or Google® Play. Once CardValet is set up, cardholders have the ability to “turn off” their card when not in use, establish transaction spending limits and decline a transaction when the amount exceeds a predefined threshold.…

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IRS, States and Tax Industry Renew Alert about Form W-2 Scam Targeting Payroll, Human Resource Departments

IRS, States and Tax Industry Renew Alert about Form W-2 Scam Targeting Payroll, Human Resource Departments

IRS -2017-10

WASHINGTON – The Internal Revenue Service, state tax agencies and the tax industry today renewed their warning about an email scam that uses a corporate officer’s name to request employee Forms W-2 from company payroll or human resources departments.
This week, the IRS already has received new notifications that the email scam is making its way across the nation for a second time. The IRS urges company payroll officials to double check any executive-level or unusual requests for lists of Forms W-2 or Social Security number. …

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Posted by Mission Valley Bank in Client & Community Education, Cyber Security, Fraud Alert, Security, Your Online Safety. Leave a Comment

More Tips on Protecting Your Mobile Devices

More Tips on Protecting Your Mobile Devices

From the FDIC Consumer News -- Everywhere you look, people are using smartphones and tablets as portable, hand-held computers. "Unfortunately, cybercriminals are also interested in using or accessing these devices to steal information or commit other crimes," said Michael Benardo, manager of the FDIC's Cyber Fraud and Financial Crimes Section. "That makes it essential for users of mobile devices to take measures to secure them, just as they would a desktop computer."

Here are some basic steps you can take to secure your mobile devices. 

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New Scam – Done ‘Old School’

New Scam – Done ‘Old School’

From OnGaurdOnline.gov

In a recent twist, scam artists are using the phone to try to break into your computer. They call, claiming to be computer techs associated with well-known companies like Microsoft. They say that they’ve detected viruses or other malware on your computer to trick you into giving them remote access or paying for software you don’t need.

These scammers take advantage of your reasonable concerns about viruses and other threats. They know that computer users have heard time and again that it’s important to install security software. But the purpose behind their elaborate scheme isn’t to protect your computer; it’s to make money.…

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What’s a CHIP Based Payment Card (EMV)?

What’s a CHIP Based Payment Card (EMV)?

About Chip-based Payment Cards (from the American Bankers Association)

A chip card is a standard-size credit card plastic with an embedded microprocessor chip that stores and protects cardholder data. If your card is lost, stolen or compromised in a data breach, the embedded microchip makes the card extremely difficult to counterfeit or copy. Although chip cards are not yet common in the U.S., this technology has been used around the world for many years and some U.S. banks already issue chip cards. The global standard is called EMV, short for Europay, MasterCard, Visa. There are currently more than 1.5 billion chip-enabled cards issued across the world.…

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The Simplest Steps to Fight Fraud…

The Simplest Steps to Fight Fraud…

Protect Yourself

• Report any suspected fraud to your bank immediately.

• Use online banking to protect yourself. Monitor your financial accounts regularly for fraudulent transactions.

• Sign up for text or e-mail alerts from your bank for certain types of transactions, such as online purchases or transactions of more than $500.

• Beware of phishing scams. Never give out personal financial information in an e-mail or over the phone unless you have initiated the contact.

• Monitor your credit report. Order a free copy of your credit report every four months from one of the three credit reporting agencies at annualcreditreport.com.

• Check your monthly banking and credit card statements carefully as soon as they arrive – report any questionable activity immediately.

If You …

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Tips for Small Businesses to Combat Fraud

Tips for Small Businesses to Combat Fraud

Cybercriminals are targeting small businesses with increasingly sophisticated attacks. Criminals use spoofed emails, malicious software and online social networks to obtain login credentials to businesses’ accounts, transfer funds and / or steal private information, a fraud referred to as “corporate account takeover.”

Combating account takeover is a shared responsibility between businesses and financial institutions. Bankers can explain the safeguards small businesses need and the numerous programs available that help ensure fund transfers, payroll requests and withdrawals are legitimate and accurate. Companies should train employees about safe internet use and the warning signs of this fraud, because they are the first line of defense.

As part of National Cyber Security Awareness Month coming in October, Mission Valley Bank offers small businesses these tips to help prevent …

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Posted by Mission Valley Bank in E-Mail and Internet Fraud, Fraud Alert, Security, Your Online Safety. Leave a Comment

Financial Readiness in an Emergency

Financial Readiness in an Emergency

Financial Readiness in an Emergency

Unfortunately, the news in recent months has been full of headlines about natural disasters across the country. Home is where most people feel safe and comfortable. But sometimes when a hurricane, flood, tornado, wildfire, or other disaster strikes it's safest to pack up and go to another location.

When it comes to preparing for situations like weather emergencies, financial readiness is as important as a flashlight with fully charged batteries. Leaving your home can be stressful, but knowing that your financial documents are up-to-date, in one place, and portable can make a big difference at a difficult time.…

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Posted by Mission Valley Bank in Getting Things Done, Security. Leave a Comment