January 09, 2023

Staying Ahead of Fraudsters with Fraud Prevention Enhancement

The Callaway Bank takes cyber security and protects our clients from fraudsters seriously. We are proud to announce that we have recently enhanced the fraud prevention tools in our Digital Banking platform.  Going forward, if the fraud prevention system notices something out of the ordinary in your Digital Banking use, you will be prompted to enter a random code sent to you via text or through the DUO app (whatever method you chose for your out-of-band authentication) before continuing.

How Does It Work?

Once the fraud prevention tool has learned your usual usage patterns, it can recognize potential attempts by fraudsters to gain access to your account. The tool can detect, among many variables, sudden changes in location, suspicious logins from different devices or IP addresses, and attempts to transfer unusual sums of money from your account. When unusual activity is detected, the system will send an alert prompting you to authenticate yourself via text message or mobile application.

 

What About Legitimate Out-of-the-Ordinary Activity?

We understand there may be times when you want or need to use Digital Banking in ways outside of your usual behavior – such as when traveling abroad or using a different device than usual. In these cases, our fraud prevention tool won’t impede legitimate activities; instead, it will simply ask you to authenticate yourself so that we can verify it is indeed you who is attempting access. This helps ensure that no one else can gain access to your account without authorization.

Staying Ahead of the Curve

Protecting our clients from fraudsters and other cybersecurity threats is always a top priority.  The fraud prevention system is only one of many system tools we use to stop cybercriminals.  While no automated system is 100% perfect, we feel this new fraud prevention enhancement will help a great deal in preventing unauthorized access to your Digital Banking.  As always, we will continue to develop new security measures to help protect you.

Contact Us