Account Authentication & Online Banking Security
The Federal Financial Institutions Examination Council (FFIEC) has issued guidance to financial institutions, such as Community State Bank, to strengthen their vigilance and ensure the person signing into your www.bankcommunitystate.com account is actually you. The supervisory guidance is designed to make online transactions of virtually all types safer and more secure.
Online security starts with the authentication process. This process is used to confirm the user is the authorized user and not a hacker or identity thief. Authentication generally involves single and multi-factor authentication as well as additional “layered security” measures when appropriate.
Internal Risk Assessments
Community State Bank has completed a risk assessment to ensure the level of authentication called for in a particular transaction is appropriate to the transaction’s level of risk. Accordingly, Community State Bank has concluded a comprehensive risk-assessment of its current methods as recommended in the FFIEC’s Guidance.
Consumer Protections under Regulation E
Community State Bank follows specific rules for disputed electronic transactions. These rules are issued by the Consumer Financial Protection Bureau and are known as Regulation E. Regulation E covers a variety of situations involving transfers made electronically. Consumer protections provided under Regulation E allow consumers to recover internet banking losses according to how soon you detect and report them. If losses are reported within two days of receiving your statement, you can be liable for the first $50. After two days, the amount increases to $500. After 60 days you could be legally liable for the full amount. In general, these protections are extended to consumers and consumer accounts, not business accounts.
Contact from Community State Bank
Occasionally, there could be situations when Community State Bank will notify you of situations with your online banking accounts. Should Community State Bank notify you, they may ask for all or part of your banking credentials. We will use this information to verify your requests when necessary. Community State Bank may call you to verify certain transaction requests if the transaction is “out of the ordinary” or Community State Bank views the transaction as a greater than normal risk.
Customer Awareness and Caution
You can make your computer safer by installing and updating: antivirus software, anti-malware, operating system patches and updates, and firewalls on your computer. These tools help to protect you and your computer in an online environment. These updates should be performed regularly. You can learn more about online safety and security at these websites: www.staysafeonline.org, www.ftc.gov, www.usa.gov and www.idtheft.gov.
If you notice suspicious activity within your account or experience security-related events (such as a phishing email from someone purporting to be from Community State Bank) you can contact anyone at Community State Bank and you will be quickly and courteously guided to a person responsible for online banking.
Community State Bank
PO Box 219
Coffeyville, KS 67337