Security Center

Protect Your Password

Never reveal your password to anyone that you don't want to have access to your account. You can further safeguard your account information by following these guidelines:

1. Never write your password down or leave it anywhere that someone else could find it and use it.
2. Change your password on a regular basis.
3. Use the Exit button to end each Online Banking session. Do not use the Back button to exit the site.
4. Change your session timeout in User Options to a time that meets your needs.

Protect Your Computer

Magnolia State Bank and our online banking service provider employ multiple levels of security to protect your account information and transactions. In order to access our services and the protection they provide, you must use an internet browser that supports 128-bit encryption. There are additional methods that you can use as well:

1. Keep anti-virus software current. Scan for viruses on a weekly basis, at a minimum.
2. Keep your operating system and your Internet browser updated with new releases and the most recent version. These updates and patches will provide increased security. You may use any browser that supports the SSL (Secure Socket Layer) protocol. Most popular browsers support this security feature. To maintain our high security level, we also require using a browser with 128-bit encryption. 
3. Do not open email and attachments that are of unknown origin as this is often the source of virus and worm infections.  
4. Do not click on hyperlinks within websites or email unless you are familiar with the source and sure that it is legitimate. Hyperlinks are often used as a method to download malicious software on your computer.

Protect Your Information

It is the policy of Magnolia State Bank not to request information that is confidential in nature regarding you or your accounts via normal email or text. If you receive an unsolicited email that appears to be from Magnolia State Bank and it requests confidential information, we recommend that you do not respond. If you receive such an email, please contact your Magnolia State Bank representative.

You can learn more about protecting your information and avoiding identity theft by visiting the Federal Trade Commission for Identity Theft web site.

June 15 is World Elder Abuse Awareness Day

In recognition of World Elder Abuse Awareness Day, Magnolia State Bank would like to offer the following tips and education to help curb the rising tide of elder financial abuse:

• Secure private information (Social Security card, passport, bank account numbers, financial statements, medical records, and other legal documents), in a bank safety deposit box.
• Check your bank accounts and bill statements carefully. If you notice unauthorized charges or unusual activity, alert the bank immediately.
• Do not disclose personal information, such as bank account numbers or PINs, to anyone in a phone call, letter, email, fax or text message claiming to be from an established organization, especially if they ask you to wire funds or send private information.
• Plan ahead by giving a trusted person the legal authority to make financial decisions for you if you are unable. Make sure the bank has a record of who can manage your money on your behalf.
• Contact your local adult protective services agency and law enforcement if you have encountered financial abuse. 

BE ON THE LOOKOUT FOR DIFFERENT ELDERLY SCAMS:

Medicare/Health Insurance Scams

It is difficult to imagine that someone could prey on those in need of medical assistance, but unfortunately, Medicare fraud is all too common. Criminals are posing as Medicare or medical supply representatives to obtain personal information or provide bogus services and using the information to bill Medicare or assume an identity to perpetrate fraud.
Another COVID-19 related scam centers around a FEMA program to assist with funeral expenses. While this is a legitimate program, and you can reach out to FEMA to apply for these benefits, citizens should be mindful that:

• FEMA will not contact you until you call or apply for assistance.
• The government won’t ask you to pay anything to get this benefit.

As a good rule of thumb never share personal or financial information with anyone who contacts you out of the blue.

Zoom Phishing Emails and Internet Fraud

At the onset of the pandemic con artists registered thousands of fake Zoom-related internet domains to send phony emails, texts or social media messages to trick consumers into clicking on bogus links related to purported “account suspension” or “meeting” notices. Those that took the bait inadvertently downloaded malware (malicious software) on their computer, exposing their personal information to potential use by fraudsters. 

Internet scammers are also known for sending fake text messages alleging trouble with an internet account, credit card, bank account or shopping order. Many even  contain realistic looking logos to lure you into clicking on a link and divulging personal information.
To limit your exposure, avoid clicking on links from unsolicited emails or texts. If you suspect a problem with an account contact the bank or service provider directly.

Telemarketing/Phone Scams

Seniors schooled in etiquette may frown upon “hanging up the phone” or simply saying “no” to unsolicited calls, but it also leaves the door open to criminals posing as company representatives. Three notable examples include: 

1. The pigeon drop where con artists pretend to share found money in exchange for a “good faith” payment drawn from the contacted person’s bank account.
2. The fake accident ploy where con artists create a false narrative that a loved one has been injured in an accident and needs money for medical expenses.
3. Charity scams where con artists solicit funds on behalf of a charity for which they are not affiliated with or is not legit.

Remember, if it’s too good to be true it probably is. If you want to give go directly to the source. And if you are worried about a friend or family member, verify the information with them directly. 

Scams are always changing. This year’s pandemic fraud will be replaced by a new and creative scheme next year. The Federal Trade Commission has a “scam alert” page with information about the ever-changing ways that scam artists target consumers, at consumer.ftc.gov/scam-alerts.

To learn more about protecting your loved one visit icba.org/eldercare.