Security

Sunshine Bank is committed to keeping your privacy and financial information secure. We provide certain security features, policies, and procedures to provide you with multiple layers of protection when using our internet-based services.

Revealing Your Financial Information

Sunshine Bank will never initiate contact with you and ask for your personal financial or other identifiable information over the phone or email. If someone is presenting himself or herself as a Sunshine Bank employee, do not reveal this information, but take their name and number and call Sunshine Bank immediately at 1-844-801-8380. If this was a real employee, we can transfer your call back to that person. If not, please alert us to the attempt so we can assist in safeguarding your account and reviewing your transactions.

Identity Theft

Please watch our informative videos about personal and business identity theft and the steps you can take to protect yourself and your financial information.

Protect your Business from Corporate Account Takeover

What would you do if you suddenly noticed that huge chunks of money had been drained from your business account into overseas accounts? Online criminals are using increasingly sophisticated techniques to commit payments fraud against commercial business accounts.

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. Thousands of businesses have fallen victim to this type of fraud, and the losses have ranged from a few thousand to several million dollars.

Regulation E

What’s more, business bank accounts are NOT protected under Regulation E, so when business accounts are compromised, you may lose all, or at least some of the money lost. Today, security is a shared responsibility between you and Sunshine Bank. Corporate account takeover attacks today are typically perpetrated quietly by introducing malware through a simple phishing email, a deceptive social engineering ploy, or an infected website. For a business that has low resistance to attack, they may remain undetected for weeks or even months.

Protect Your Business

The best way to protect your business is to develop a strong partnership with Sunshine Bank and establish safeguards on your accounts to help the bank identify and prevent unauthorized access to your funds.

Develop a security plan. Each business should evaluate its risk profile and develop a security plan that includes sound business practices. The Federal Communications Commission provides a free and comprehensive Cyber Security Planning Guide to assist in developing or reviewing your comprehensive security plan.

Protect your online environment. Protect your computers just as you would your cash. Use appropriate tools to prevent and deter unauthorized access to your network and make sure you keep them up to date. Encrypt sensitive data and use complex passwords and change them regularly.

Create a secure financial environment. Dedicate one computer exclusively for online banking. This computer should not be connected to the business network, have email capability, or connect to the Internet for any purpose other than online banking.

Partner with Sunshine Bank to prevent unauthorized transactions. Talk to your local Sunshine banker about programs that protect you from unauthorized transactions. Positive Pay and other services offer call backs, device authentication, multi-person approval processes and batch limits to help protect you from fraud.

Pay attention to suspicious activity and react quickly. Watch for unexplained account or network activity, pop ups, and suspicious emails. If detected, immediately contact Sunshine Bank, stop all online activity and remove any systems that may have been compromised. And keep records of what happened.

Understand your responsibilities and liabilities. The account agreement with Sunshine Bank explains what reasonable security measures are required in your business. You need to understand and implement these security safeguards. If you don’t, you could be liable for any losses.

Educate all employees about cybercrimes so they understand that even one infected computer can lead to an account takeover. One infected computer can compromise your entire network. All employees, even those with no financial responsibilities, should receive security awareness training.

Since cyber threats change rapidly, it’s important that you stay informed about the evolving threats and adjust your security measures accordingly. You and your employees are the first line of defense against corporate account takeover.

(Corporate Account Takeover Source: InfoSight Security Awareness Program)

 

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