Mission Valley Bank News

Cyber Security is a Shared Responsibility

Cyber Security is a Shared Responsibility
by Marianne Cederlind
Executive Vice President and Chief Business Banking Officer / Mission Valley Bank

A recent article written by the Independent Community Bankers Association provided the reminder that the U.S. Department of Homeland Security warns to never give sensitive information to anyone unless you are sure they are who they claim to be and that they should have access to the information. It’s every business owner’s worst fear that they could be the next target.

In today’s business climate, cybercriminals target small businesses with ever-increasingly sophisticated attacks. Spoofed emails, malicious software and online social networks to obtain login credentials to businesses’ accounts, transfer funds from the accounts and steal private information are on the rise. …

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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

Merchant Bankcard Conversions Less Costly Than the Alternative

Merchant Bankcard Conversions Less Costly Than the Alternative
by Cameron Brown
Vice President, Merchant Services and Sales Manager

As financial institutions scrambled to issue EMV cards – short for Europay, MasterCard, and Visa chip technology -- to replace the standard magnetic technology, merchants prepared for the conversion. Merchants without an EMV-ready terminal in place now take on the full financial responsibility and risk in the event a chargeback occurs.

A chargeback can transpire in multiple ways: a dissatisfied customer calls their bank to refute either a product or service received from a merchant, a lost or stolen credit/debit card resulting in a fraudulent purchase, or perhaps a reversal of an unauthorized purchase due to identity theft.…

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Posted by Mission Valley Bank in Building Your Business, Getting Things Done. Leave a Comment

Stopping Unsolicited Mail, Phone Calls, and Email — Advice from the U.S. Federal Trade Commission

Stopping Unsolicited Mail, Phone Calls, and Email — Advice from the U.S. Federal Trade Commission

Tired of having your mailbox crammed with unsolicited mail, including preapproved credit card applications? Fed up with getting telemarketing calls just as you're sitting down to dinner? Fuming that your email inbox is chock-full of unsolicited advertising? The good news is that you can cut down on the number of unsolicited mailings, calls, and emails you receive by learning where to go to "just say no."

If you decide that you don't want to receive prescreened offers of credit and insurance, you have two choices: You can opt out of receiving them for five years or opt out of receiving them permanently.

To opt out for five years: Call toll-free 1-888-5-OPT-OUT (1-888-567-8688) or visit www.optoutprescreen.com. The phone number and website are operated by the …

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Take Control of Your Money Online

Take Control of Your Money Online

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?

The solution for all of that is in your hands — with Online Banking.  While most of us frequently use Online Banking -- we're not taking advantage of all of the benefits it can provide.

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:

Monitor your accounts, 24/7. Keeping track of your money is key to successful financial management. And with the growth in identity theft, it's also essential for ensuring the security of your accounts. With Online Banking, …

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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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It’s All ABOUT the CASH

It’s All ABOUT the CASH

The phrase “Cash is King” rules in today’s business environment as much as ever. Access to cash for capital expansion, equipment purchases or necessary day-to-day operations is one of those ever-present challenges most businesses face on a regular basis.

Traditional commercial financing is readily available to qualified businesses from a vast array of lenders. The challenge for any borrower is determining which loan and which lender best suits their unique needs. For large capital expenditures such as financing (or refinancing) the purchase of a building or the modernization of facilities, a traditional commercial real estate or term loan may be the best solution. If seasonal or temporary fluctuations in cash flow are impeding business operations, the solution may be as simple as a line of …

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Posted by Mission Valley Bank in Building Your Business, Getting Things Done. Leave a Comment

Safeguarding Your Business: Cyber Security

Safeguarding Your Business:  Cyber Security

Small businesses are frequent targets of criminal attacks and hostile threats to systems, according to the National Institute of Standards and Technology. Owners face serious challenges in protecting their business information, as well as safeguarding their clients and employees privacy. As small businesses become increasingly dependent on online tools for day-to-day operations, protecting confidential information in cyberspace is crucial.

Cybercriminals target small businesses with sophisticated attacks. Criminals use spoofed emails, malicious software and online social networks to obtain login credentials to businesses’ accounts, transfer funds from the accounts and steal private information.

Fraud with increased sophistication like corporate account takeovers are on the rise. This type of fraud is where thieves gain access to a business’ finances to make unauthorized transactions, including transferring funds from …

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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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Credit Card Technology is Changing. Are You Ready?

Credit Card Technology is Changing.  Are You Ready?

By Cameron Brown / VP Merchant Services Mission Valley Bank

Is your business' merchant processing system EMV (Europay, MasterCard, VISA) ready? To begin, it's important to understand the specifics of this Euro-based bankcard technology that has been in place in Europe for well over a decade. Unlike current credit and debit cards in the United States that utilize a standard magnetic strip on the back of the card to house all customer information, EMV utilizes a small chip inlay on the front of the card. Such technology drastically reduces bankcard fraud, chargebacks, and questionable purchases as the "smart chip" technology relies on integrated circuits within the chip to transmit and store consumers’ valuable personal information.…

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The Nest Egg is Almost Ready to Hatch — Now What?

The Nest Egg is Almost Ready to Hatch — Now What?

Even if you've been saving your money since you started to work, that may not be enough to ensure an enjoyable and satisfying retirement. Of course having enough money put away is the number one factor as to whether or not you'll maintain your desired lifestyle once you stop working. But don't overlook the small day-to-day stuff. Do you have a plan for things to do in retirement? How will you spend your time as a retiree? Do you already know what you will do with all that free time?

You probably started thinking about your retirement savings a long time ago. Perhaps you should start thinking about how you plan on spending your time too. This is a very important aspect of your retirement …

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A Reminder: Frauds Target Small Businesses — Don’t Be a Victim

A Reminder: Frauds Target Small Businesses — Don’t Be a Victim

While large firms may have sophisticated technology and staff dedicated to thwarting crime, many small businesses don't — and scammers know this. Here are ways to protect yourself:

Be on guard against inside jobs. This includes employee theft or misuse of cash, merchandise or equipment as well as fraud. "Minimize risks through steps such as pre-employment background checks, automated inventory tracking systems, audits, and clearly outlined policies for personal use of computers and other business equipment," said Luke W. Reynolds, Chief of the FDIC's Outreach and Program Development Section. "Also, carefully select who handles revenue from customers, pays the bills and reviews account statements. And, ensure that there are procedures in place to detect and deter fraud."

Watch out for fraudulent transactions and bills. Scams …

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Posted by Mission Valley Bank in Cyber Security. Leave a Comment

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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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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