Online Security
Because we value you as a customer, protecting your privacy and ensuring the safety of you online bank accounts is our top priority. In order to educate our customers on how to make online transactions safer and more secure, we have gathered a variety of resources and implemented policies to make sure that your online experience is a protected one.
Be safe. If you believe your Florence Savings Bank account has been compromised, please contact us so that we can take appropriate action. Florence Savings bank will NEVER ask you to provide your login credentials.
To watch a demo of our new advanced fraud protection, click here.
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- Account Authentication and Online Banking
Florence Savings Bank follows specific rules for electronic transactions issued by the Federal Reserve Board. Known as Regulation E, the rules cover a variety of situations revolving around transfers made electronically. Under the consumer protections provided under Reg E, you can recover Internet banking losses according to how soon you detect and report them.
Here is what the Federal rules require: If you report the losses 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. If you notice any suspicious activity within your account or experience security-related events, please contact us immediately.
Understanding the risks and knowing how fraudsters might trick you is a critical step in protecting yourself online. You can make your computer safer by installing and updating regularly your:
- Anti-virus software
- Anti-malware programs
- Firewalls on your computer
- Operating system patches and updates
- Business Risk Assessment and Layered Security
FFIEC studies have shown that there have been significant changes in the threat landscape in recent years. As a result, online account takeovers and unauthorized funds transfers have risen substantially each year since 2005, particularly with respect to commercial accounts, representing losses of hundreds of millions of dollars.
Florence Savings Bank joins FFIEC and the financial regulatory agencies in strongly urging business account holders to conduct internal assessments to ensure the highest level of security possible for your transactions. To ensure the safety and security of your account, we urge business account holders to:
- Conduct periodic assessments of your internal controls
- Use layered security for system administrators
- Initiate enhanced controls for high-dollar transactions
- Provide increased levels of security as transaction risks increase
- Offer customers multi-factor authentication
In addition to urging business account holders to conduct additional assessments, Florence Savings Bank also uses both single and multi-factor authentication to protect your account. Whenever increased risk to your transaction security might warrant it, we have additional verification procedures such as:
- Fraud detection and monitoring
- Dual customer authorization
- Out-of-wallet challenge questions for high risk transactions
- Positive Pay debit blocks
- Transaction value thresholds
- Internet protocol reputation based tools
- Polices and practices for addressing customer devices
- Account maintenance controls
If you notice suspicious activity within your account or experience security-related events, please contact us immediately.
- Online Safety Resources
Understanding the risks and knowing how fraudsters might trick you is a critical step in protecting yourself online. You can make your computer safer by installing and updating regularly your:
- Anti-virus software
- Anti-malware programs
- Firewalls on your computer
- Operating system patches and updates
For more ways to learn about online safety and security, visit these websites:
- Report Fraud
If you suspect that your Florence Savings Bank account has been compromised, contact us at 413-586-1300 or reportfraud@florencebank.com immediately.
Debit Card Fraud:
If you suspect that your debit card has been compromised, call us during regular banking hours at 413-586-1300 or after hours at 800-264-5578 to immediately disable your card.
Online Banking Fraud:
If you suspect that your Online Banking security has been comprised, call us during regular banking hours at 413-586-1300 or after hours at 877-632-9099.
Email Fraud:
If you receive a suspicious email, forward it to customerservice@florencebank.com. If you have general questions, please visit our contact us page.
If you have provided information about your Florence Savings Bank account in response to an email, call us at 413-586-1300. If you specifically provided information about your ATM or Debit Card, call us during regular banking hours at 413-586-1300 or after hours at 800-264-5578 to immediately disable your card.
Check Fraud:
If your checks have been lost or stolen, you didn't receive your bank statement, or you see check transactions on your statement or online banking account history that you did not make, contact us immediately at 413-586-1300.
Identity Theft:
If you provided personal information or believe that your personal information has been stolen, visit the Identity Theft section at OnGuardOnline.gov for steps you should take. If one or more of your Florence Savings Bank accounts have been compromised as a result of Identity Theft, please contact Florence Savings Bank as soon as possible.
