February 17, 2020
Get up to $7,500 towards the purchase of your new home with a Welcome Home Mortgage Grant from WMB! New for 2020, homebuyers who are a member of the United States National Guard, Military Reserves, or a surviving spouse of military personnel, as well as active or honorably discharged military may be eligible to receive grants up to $7,500! Non-military individuals may receive up to $5,000. The Welcome Home Grant may be sufficient to cover all if not most of your down payment and closing costs. With Welcome Home Mortgage Grants: - Limited Funds — first come first served - Up to $7,500 for down payment/closing costs for active or honorably discharged military, members of the United States National Guard, Military Reserves, or a surviving spouse of military personnel - Up to $5,000 for down payment/closing costs for non-military - Income limits apply (see below) Watch our Welcome Home Mortgage video by clicking here. Grants are available beginning March 2, 2020. Click here to apply online now! Income Limits: Grayson County: 1-2 Person Household: $60,192 | 3+ Person Household: $70,224 Hardin County: 1-2 Person Household: $54,080 | 3+ Person Household: $62,192 Jefferson County: 1-2 Person Household: $61,120 | 3+ Person Household: $70,288 Nelson County: 1-2 Person Household: $63,456 | 3+ Person Household: $74,032
November 14, 2019
Don't be fooled! Telephone and email scams have become a growing threat to our financial security and privacy. Unscrupulous impostors invade the lives of folks like you and me on a daily basis, trying to get us to release personal information to them... information that will allow them to assume our identities and steal our money! Just a few words of advice: • If someone calls or emails you claiming to be your bank, requesting personal information such as your social security number, your account number, your debit card PIN number or any other personal information……..HANG UP THE PHONE or DON’T REPLY! Your Bank will never ask for that type of information if the contact is bank initiated. We already have it! You gave it to us when you opened your account(s) with us. • Technology exists that can make it appear as though the call or email is originating from a bank phone number or email address; this is a form of spoofing. • If you DO receive such a call or email, and you feel uncomfortable about the originator’s identity, just tell them you will call them back at the bank’s telephone number…….a number that YOU KNOW belongs to your bank! At that point, that impostor will probably either hang up on you, or try to convince you to not call your bank! They don’t want you to talk with the real bank. • NEVER, EVER share your personal information or your passwords with others. If you do, you are leaving yourself wide open for identity theft! • Don’t be fooled! Wilson & Muir Bank is a Member FDIC/Equal Housing Lender
October 29, 2019
For our last National Cybersecurity Awareness Month blog post, we're sharing our top takeaways from this year. We'll start with the 2019 theme for National Cybersecurity Awareness Month, “OWN IT. SECURE IT. PROTECT IT." A pretty simple reminder that your online security depends on your own actions. It is crucial to your own safety that you take proactive steps to enhance cybersecurity at home and in the workplace. We can't stress this enough. Another important takeaway is understanding your digital profile. You must understand the devices and apps that you use every day if you want to keep your information safe and secure. Next is secure your digital profile. Change your passwords regularly, set up Multi-Factor Authentication to better protect your personal information, and know where your personal information is going when you purchase items online. Lastly, you must maintain your digital profile. To protect yourself from becoming a cybercrime victim you must understand, secure, and maintain your digital profile. Be familiar with and routinely check privacy settings to help protect your privacy and limit cybercrimes. We hope you've found our National Cybersecurity Awareness Month blog series educational! We care about your security at Wilson & Muir Bank, don't ever hesitate to contact us with your questions. #BeCyberSmart #CyberAware
October 23, 2019
As National Cybersecurity Awareness Month continues, we continue with our blog series. This week we focus on "PROTECT IT". Everything you do online creates a trail that can be exploited by cybercriminals. To protect yourself from cybercriminals victim you must understand, secure, and maintain your digital profile. It's crucial for you to be familiar with your current privacy settings. One way to help protect yourself is by practicing good cyber hygiene. Cyber hygiene is about training yourself to think proactively about your cyber security, just like you do with your daily personal hygiene. Good cyber hygiene practices are often part of a routine to ensure the safety of identity and other details that could be stolen or corrupted. Here are a few tips to get you thinking about good cyber hygiene practices: 1. Use the right tools- Without the right products and tools, your personal information could be at risk. Reputable antivirus and malware software, a network firewall, and password protection all help to protect personal data stored. Before installing anything you should verify the security brand you're using is a reputable source. 2. Be thorough and accurate- You may think that regularly emptying the trash can emoves personal or sensitive data from your computer's hard drive, but this is not the case. To permanently delete files from your computer, you must use data-wiping software. You’re at risk of losing personal data everytime you introduce new software or modify system files. Regularly clear out data you don’t need and be sure to wipe it clean from the hard drive. 3. Protect your passwords- Don’t get lazy when creating passwords. Use complex, unique passwords for each account. Experts recommend a combination of at least 12 letters, numbers, and special characters. Don't forget to regularly change your passwords. 4. Make cyber hygiene part of your routine- Monitoring your cyber security regularly can increase your chances of avoiding an online threat, but like any habit, it requires routine and repetition. Set calendar reminders to change your passwords, update your antivirus software and operating systems on all of your computers and devices. Once you make these practices part of your regular routine, it will become second nature to you. Good cyber hygiene is a general practice that can help keep you safe and secure online. Incorporate your cyber hygiene practices into your routine and you’ll be on your way to creating cyber habits that can help keep you safe and secure online. Check back next week when we share our top takeaways from this year's National Cybersecurity Awareness Month. #BeCyberSmart #CyberAware
October 14, 2019
Our National Cybersecurity Awareness Month blog series continues. “OWN IT. SECURE IT. PROTECT IT” is this year's theme, but this week we focus on "SECURE IT". What do we mean by secure it? It's all about securing your online profiles... social media profiles, online shopping accounts, even your online banking profile. As technology advances, cybercriminals are also evolving. Their methods are becoming more sophisticated. Unsuspecting victims are cybercriminals number one target. So how can you protect against cyber threats? One of the best things you can do is learn about the available security features on your equipment and software you use. Apply additional layers of security, like Multi-Factor Authentication, to better protect your personal information. Two Factor Authentication is currently the best way, and simple way, to add an extra layer of security for online accounts like Google, Dropbox, Facebook, Twitter, Amazon, which makes them much harder to hack. It requires more than just a simple username and password. Usually, it involves sending a unique code to your smartphone that you enter along with your password. Or you can generate an individual code, using your phone using apps like Google Authenticator or Microsoft’s Authenticator app. Two Factor Authentication is called different names by services, but despite the name the fact remains, it's and easy step to add an extra layer of security to your account that makes it much harder for the bad guys to break into your online accounts. Next week we'll share "PROTECT IT" tips. #BeCyberSmart #CyberAware
October 10, 2019
As part of our National Cybersecurity Awareness Month blog series, we continue with this year's theme, “OWN IT. SECURE IT. PROTECT IT.” This week we focus on "OWN IT," which is all about understanding your digital profile. Nowadays, most of us are connected to the internet nearly 24/7, allowing us to be more innovative and productive, but this also opens up more opportutnities for cybersecurity threats. Understanding your devices and the apps you use, such as social media apps, will help keep you safe. Safe social media posting is a big part of cybersecurity. By the year 2021, 3.02 billion people will be on social media worldwide. With 1/3 of the world's population on social media today, sites like Facebook, Twitter, and LinkedIn make you the perfect targets for cybersecurity scams. Here are our top 5 tips to stay safe on social media: 1. Use a strong password, the longer it is, the more secure it will be, and use a different password for each of your social media accounts. 2. Set up your security answers. This option is available for most social media sites. 3. If you have social media apps on your phone, be sure to password protect your device. 4. Be selective with friend requests. If you don’t know the person, don’t accept their request. It could be a fake account. 5. Click links with caution. Social media accounts are regularly hacked. Look out for language or content that does not sound like something your friend would post. #BeCyberSmart #CyberAware
October 3, 2019
Did you know October is National Cybersecurity Awareness Month? National Cybersecurity Awareness Month (NCSAM) is a collaborative effort between government and industry to ensure every American has the resources they need to stay safe and secure online while increasing the resilience of the Nation against cyber threats. This year’s overarching theme is “OWN IT. SECURE IT. PROTECT IT.” "OWN IT" refers the understanding your digital profile. Nowadays, most of us are connected to the internet nearly 24/7, allowing us to be more innovative and productive, but this also opens up more opportutnities for cybersecurity threats. Understanding your devices and the apps that you use will help keep you safe. "SECURE IT" refers to your digital profile and how to secure it. Protect yourself against cyber threats by learning about security features for your devices and online profiles to better protect your personal information. “PROTECT IT” refers to familiarizing yourself with your privacy settings to limit cyber crimes. To protect yourself from becoming a cybercrime victim you must understand, secure, and maintain your digital profile. Throughout the month of October we will focus on these three individual themes and highlight each one to help you better protect yourself from cyber criminals! #BeCyberSmart #CyberAware
September 10, 2019
Do you know someone looking to buy a home but is short on funds? Wilson & Muir Bank can help! Watch our video featuring Mortgage Specialst, Ron Layman to learn more. Watch our video by clicking here. Find your WMB Mortgage Specialist by clicking here.
July 31, 2019
Long-term fixed rates are at the lowest levels they've been in years! Our free, no obligation mortgage checkup can help us determine the best option for you! Watch our video to hear more about this opportunity from WMB Mortgage Specialist, Ron Layman, then contact a WMB Mortgage Specialist today! Watch our video by clicking here. Find your WMB Mortgage Specialist by clicking here.
April 24, 2019
A Bridge Loan is designed to make your transition from one home to the other as smooth as possible; utilizing your home's equity to help pay for your new home. Contact your WMB Mortgage Specialist today to learn more about our Bridge Loans. Watch our Bridge Loan video by clicking here. Find your WMB Mortgage Specialist by clicking here.
March 1, 2019
Get up to $7,500 towards the purchase of your new home with WMB's Welcome Home Mortgage Grant! New homebuyers can get a grant up to $7,500 towards the purchase of your new home. Apply it towards your down payment or your closing cost. The Welcome Home Grant may be sufficient to cover all if not most of your down payment and closing costs. Call us today and say goodbye to your landlord! With Welcome Home Mortgage Grants: - Limited Funds — first come first served - Up to $7,500 for down payment/closing costs for active or honorably discharged military - Income limits apply - Up to $5,000 for down payment/closing costs for non-military Watch our Welcome Home Mortgage video by clicking here. Grants are available beginning March 4. Click here to apply online now!
September 7, 2018
At WMB we care about the financial well-being of our clients, so we're always on the lookout. In recent recent years fake check scams have become a problem, so to help protect and educate our clients we've listed some of the scams that you need to be aware of, as well as tips for avoiding them: - If you win a prize and are told to send back taxes and fees, it's a scam. - You get paid as a "secret shopper" and are told to wire money back, it's a scam. - You sold an item online and the buyer overpays, it's a scam. Here is how these scams work: You receive a check, then you'll be asked to send money back; this is a sure sign it's a scam. The best way to avoid this scam is to use caution and talk to someone you trust. Feel free to contact us before you act. For a full list of tips check out the infographic and visit the ABA website here.
Available Now! Kentucky Housing Corporation Hardest Hit Fund (HHF) Down Payment Assistance Program Funds
July 11, 2018
The Kentucky Housing Corporation has just announced a new round of its Hardest Hit Fund (HHF) Down Payment Assistance Program (DAP). Funds are available on a first-come, first served basis for new reservations beginning today, July 11, 2018. Contact Your WMB Mortgage Specialist Today To See If You Qualify For Down Payment Assistance Funds! HHF DAP Program Guidelines: • $10,000, zero-percent interest, forgivable second mortgage loan with a five-year term. • First-time homebuyers • Property must be located in Jefferson or Hardin County • Income restricted, with a maximum income limitation of $107,625 in Hardin County and $125,125 in Jefferson County • Maximum sales price is $301,294 Stop by, click here to contact your WMB mortgage specialist, or call our offices in Hardin or Jefferson Counties to learn if you qualify!! • In Jefferson County Call: 502-454-5400 • In Hardin County Call: 270-769-5099 We look forward to hearing from you soon! MEMBER FDIC/EQUAL HOUSING LENDER | WILSON & MUIR BANK & TRUST CO. | NMLS #403246
June 11, 2018
Gone are the days of having to physically go to your bank to access your account information. Thanks to the internet you can see all of that information from the comfort of your home or office. Here are some of the things you can access through Wilson & Muir Bank’s website: • Help the environment by limiting paper usage and receiving your bank statements online • Apply for a mortgage approval to buy your new home, refinance or do some home improvements. • Compare deposit rates • Use our Cash Management system to meet the needs of your small business or large corporation • View all of the loan programs we offer • With the mobile app you can transfer money and deposit checks from your phone All of this can be completed without even leaving your house. And the best part is, there’s no waiting in line! Our bank is always open when you use our online banking system.
May 17, 2018
Our Extended Lock In Mortgage Plan buys the time you need to build your home! With our Extended Lock In Mortgage Plan you can: - Lock in your rate for up to one year - Choose between a 15, 20, 30 Year Fixed or ARM Rate - Float down option 30 days prior to closing - Local decision making Contact your WMB Loan Officer to start the application process today by clicking here.
April 19, 2018
After a long winter, it’s great to see the warmer weather roll in. Even better, getting those tax refunds is uplifting year after year. While you may be able to splurge, focusing on careful financial management can set you up for a great year. At WMB, we value smart spending and saving and encourage our customers to do the same. Here are a few tips on how to take advantage of that fresh refund. 1. Pay off some debt Debt is real, and unmanaged debt can be detrimental to anyone’s financial well-being. Debt can definitely hold you back, so paying it off in chunks can help tremendously. 2. Build a Rainy Day or Emergency Fund It’s hard to predict when hard times will come. So instead of preparing for the “if”, prepare for the “when”. Ideally, having three to six months of income stored away can protect you from major income swings and give you time to adjust. 3. Contribute to Your Retirement At WMB, we offer competitive Individual Retirement Account (IRA) options. Even if you have a 401K through work, this account can lead to thousands more per year after you retire. You’ll thank yourself later. 4. Purchase Insurance and Liability Coverage Again, we can’t predict when natural disaster or emergencies will occur. Protecting yourself against events like flooding are very affordable, and gives you a sigh of relief in thinking about the what-ifs. 5. Improve Your Home How long have you pushed off finishing the basement? The bathroom? This year’s tax refund can be used to work on your home and prepare for the year ahead. Switching to energy-efficient appliances can result in lower utility bills. 6. Donate to Charity It’s so difficult to pass up on donation opportunities. With some extra cash from your tax refund, consider donating to a charity that means something to you. 7. Invest Once you have an emergency fund, retirement fund, and little to no debt, it may be a good time to start investing. Online stock brokers are very affordable and easy to learn. 8. Invest in Yourself This all depends on your preferences. Get a gym membership, buy a bike, take a class… the possibilities are endless. 9. Start Saving for Something Big Being forward-looking and delaying gratification can be difficult. But just picture sitting on the beach next year with your family. Or maybe driving off the lot with that new car you’ve dreamed of for years. Putting aside, and saving some income, can add up to that big spend. At Wilson & Muir Bank, we know life is more than saving and spending money. You want to experience comfort, freedom, and happiness with your finances. Visit our website or one of our branches to learn more about how we can help.
March 16, 2018
When it comes to managing your money, there is a lot you can do on your own to save and spend efficiently. When you want to take your financial management to the next level – buying a house, taking a vacation, buying a car, starting a family – you need to work with a reliable bank. Choosing the right bank can be a huge decision, so we’ve made a quick checklist of what to look for. Good Reputation and Relationship Have you heard of the bank before? Has the bank been in the community for some time? While new banks may be trustworthy, there is something special about the history and growth of long-standing banks. Wilson & Muir Bank has been growing and serving for over 150 years. That’s a long time to learn how to serve in the ever-evolving industry. Types of Accounts Offered Of course, a checking account is a must-have for direct deposit and spending. If you’re looking to open a savings account, the bank must offer competitive rates to ensure your finances are growing as you’d like. Moreover, long-term investing is vital – banks that offer reliable IRA’s are focused on your future well-being. At Wilson & Muir Bank, our different types of accounts are designed for your various needs and visions. ATM and Branch Locations Is your bank conveniently located near your home or workplace? When choosing your bank, you want to make sure you can get to your bank or ATM quickly and efficiently to save money and time. WMB offers 11 conveniently located ATMs and 10 branch offices across Kentucky. Technology Simply put, if the bank has not gone mobile, they are falling behind. Online and mobile banking are now the norm. Accessing your finances at any point in the day is crucial, and WMB realizes this. We offer a suite of online and mobile services so that we can help you stay ahead of your financial management on your time. Safety This point cannot be stressed enough. Your bank must be able to protect not only your money, but your information and well-being. We recommend reading up on the services offered, history, and reviews to make sure you feel safe with that bank. When you read of the history of WMB and talk to our customers, you’ll know that safety is our top priority. By using this checklist, you can be comfortable and confident in the decision you make with your bank. At Wilson & Muir, our mission is to build a good relationship with each customer while offering our best services for your financial well-being. Visit our website to learn more about our reputation, rates, and more.
March 15, 2018
When is the last time you reviewed the passwords to your bank account, e-mail or credit card accounts? Today is a good day to do it. Why? March 15th is National Password Day. Together with the Federal Trade Commission, the Better Business Bureau is sharing tips to make your passwords more secure. · Make your password long, strong and complex. That means at least twelve characters, mixed with uppercase and lowercase letters, numbers, and symbols. Avoid common words, phrases or information in your passwords. · Don’t reuse passwords used on other accounts. Use different passwords for different accounts so that if hackers compromise one account, they can’t access other accounts. · Use multi-factor authentication, when available. For accounts that support it, two-factor authentication requires both your password and an additional piece of information to log in. The second piece could be a code sent to your phone, or a random number generated by an app or token. This protects your account even if your password is compromised. · Consider a password manager. Most people have trouble keeping track of all their passwords. Consider storing your passwords and security questions in a reputable password manager, an easy-to-access application that stores all your password information. Use a strong password to secure the information in your password manager. · Select security questions only you know the answer to. Many security questions ask for answers to information available in public records or online, like your ZIP Code, mother’s maiden name, and birth place. That is information a motivated attacker can obtain. Don’t use questions with a limited number of responses that attackers can easily guess – like the color of your first car. · Change passwords quickly if there is a breach. If you receive a notification from a company about a possible breach, change that password and any account that uses a similar password immediately. For more information on keeping your information secure, check out the FTC's article on Computer Security. And click here for BBB's tips on identity theft. This article originally appeared on bbb.org.
February 1, 2018
In this time of speedy technological development, it’s not only important to manage your money, but it’s also easier! Keeping track of your bank accounts can also help you save money. Of all the apps and software that can help we, at Wilson & Muir Bank, find it beneficial to incorporate old school money-saving techniques into your lifestyle. Here are a few tips: 1. Patience is a virtue Saving money will test your patience. You’ll be tempted to splurge, especially if you’re not used to letting your money sit idle. It will take time to adapt to this lifestyle change. Be patient and know that the best results are yet to come. 2. Take on money-saving hobbies Practicing or learning home production crafts can result in significant savings. Learn how to bake, garden, craft and sew to cut back on those sneaky costs. 3. Set aside a percentage of your paycheck This can be a difficult change for many. As consumers, we expect to enjoy the full rewards for our labor. But remember the old saying, “a penny saved is a penny earned.” Start small. Set aside just 10% of your paycheck each month and in less than a year those savings are equivalent to a full paycheck! 4. Learn to cook from scratch Americans spend roughly 14% of their income on food alone! Cutting back on dining-out and expensive cooking at home can increase this percentage quickly. The age-old practice of cooking from scratch seems to be making its return. Do you consider yourself an avid foodie? Take on the practice of cooking from scratch and enjoy the food and savings! 5. Look for free activities What a time to be alive! Sometimes the most fun events don’t cost a penny. Take a walk around the city, visit free parks, look online for free concerts, movies, fairs… the list goes on! Taking your friends and family to free events gives you a greater bang for your buck that will help you save and have fun! 6. If you can do it, don’t pay for it Think about all the services you pay for in a given week. Going to the car wash, buying a $5 latté, eating lunch out daily. These expenditures can be eliminated by taking care of them yourself. By doing so you’ll keep your wallet happy and your body healthy! Those coffee shop visits and weekend brunches can add up! 7. Change jar This one is less common because of the use of credit cards. We recommend designating a jar or box for your house and telling everyone to toss change in it. You can even label the jar for the event or something for which you are saving. Once the jar is full, cash it in and put the bill under the jar. After a while, you’ll be shocked with how much change you save. These tips may seem obvious, but they serve as a great reminder on how to reach the financial freedom you desire. Saving your money is something anyone can practice. Over time you will see results and saving money will come more naturally. At WMB, we are happy to help guide our customers in the right direction. Reach out to us for more money saving and management tips at any time!
January 25, 2018
At Wilson and Muir we love nothing more than to visit with you but understand that sometimes you need a quick solution for your banking needs. That’s why we offer you a complete line of convenience products and services like online and mobile banking! Reason #1: Bank at your convenience Day-to-day banking is now easier than ever. Manage your accounts 24/7. All you need is a computer, tablet, or smartphone with Internet access. Need to cash deposit a check, but don’t have time? Simply snap a picture and deposit checks from home or in line at the store. Reason #2: No more waiting in line at the bank Rather than driving and waiting in line at the bank, you can perform many traditional services online. Pay bills, transfer funds, deposit checks, and more. If you do need help, give us a call toll free at (866) 466-5996. Reason #3: Save money Traditional bill payments can be costly – ordering stamps and checks can really add up. Banking online eliminates these expenditures. Plus, fewer trips to the bank means spending less on gas, saving your wallet AND the environment! Reason #4: Review account activity and up-to-date balances Online banking can keep you updated to the minute. Monitor your balances and see if checks have cleared whenever needed. Signing up for email and text notifications is a great way to avoid overdraft fees and pay bills on time. You’ll be notified about your daily balances and transactions immediately. Reason #5: Paying bills made quick and easy Dealing with paper statements, checks, and stamps can be a hassle. By paying your bills online, you avoid these struggles, save money, and set up automatic recurring payments to help avoid late charges. Reason #6: Transfer funds between accounts instantly Transferring funds from one account to another is quick and simple with online banking. With the touch of a button, you can load your checking account from another account at your convenience. Reason #7: Information security Many people are concerned with the security of online banking. Fortunately, we use highly sophisticated encryption software to ensure your safety and privacy. For more tips on how you can keep safe when banking online, check out some of our previous blog posts. Online banking is a convenient way for you to interact with and manage your funds. Whether you are on the go or planning from home, checking on your accounts is a great practice to ensure your financial well-being. As always, our staff at Wilson & Muir Bank is always happy and willing to answer any questions. Our customer service is second-to-none, so feel free to visit!
October 27, 2017
According to the Federal Reserve, more than two-thirds of the U.S. population owns a smartphone or internet-enabled device. In recognition of National Cybersecurity Awareness Month, Wilson & Muir Bank & Trust Co. recommends the following tips to help consumers protect the data on their mobile device from cyber thieves: • Use the passcode lock on your smartphone and other devices. This will make it more difficult for thieves to access your information if your device is lost or stolen. • Log out completely when you finish a mobile banking session. • Protect your phone from viruses and malicious software, or malware, just like you do for your computer by installing mobile security software. • Download the updates for your phone and mobile apps. • Use caution when downloading apps. Apps can contain malicious software, worms, and viruses. Beware of apps that ask for unnecessary “permissions.” • Avoid storing sensitive information like passwords or a social security number on your mobile device. • Tell your financial institution immediately if you change your phone number or lose your mobile device. • Be aware of shoulder surfers. The most basic form of information theft is observation. Be aware of your surroundings especially when you’re punching in sensitive information. • Wipe your mobile device before you donate, sell or trade it using specialized software or using the manufacturer’s recommended technique. Some software allows you to wipe your device remotely if it is lost or stolen. • Beware of mobile phishing. Avoid opening links and attachments in emails and texts, especially from senders you don’t know. And be wary of ads (not from your security provider) claiming that your device is infected. • Watch out for public Wi-Fi. Public connections aren't very secure, so don’t perform banking transactions on a public network. If you need to access your account, try disabling the Wi-Fi and switching to your mobile network. • Report any suspected fraud to your bank immediately.
October 20, 2017
October 13, 2017
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. Wilson & Muir Bank & Trust Co. recommends following these tips to keep your small business safe. 1. Educate your employees. You and your employees are the first line of defense against corporate account takeover. A strong security program paired with employee education about the warning signs, safe practices, and responses to a suspected takeover are essential to protecting your company and customers. 2. Protect your online environment. It is important to protect your cyber environment just as you would your cash and physical location. Do not use unprotected internet connections. Encrypt sensitive data and keep updated virus protections on your computer. Use complex passwords and change them periodically. 3. Partner with your bank to prevent unauthorized transactions. Talk to your banker about programs that safeguard you from unauthorized transactions. Positive Pay and other services offer call backs, device authentication, multi-person approval processes and batch limits help protect you from fraud. 4. Pay attention to suspicious activity and react quickly. Look out for unexplained account or network activity, pop ups, and suspicious emails. If detected, immediately contact your financial institution, stop all online activity and remove any systems that may have been compromised. Keep records of what happened. 5. Understand your responsibilities and liabilities. The account agreement with your bank will detail what commercially reasonable security measures are required in your business. It is critical that you understand and implement the security safeguards in the agreement. If you don’t, you could be liable for losses resulting from a takeover. Talk to your banker if you have any questions about your responsibilities.
October 6, 2017
Identity theft continues to be one of the fastest growing crimes in the United States. In 2016, there were 15.4 million victims of identity fraud in the U.S., according to Javelin Strategy and Research. Wilson & Muir Bank & Trust Co. recommends following these tips to keep your information – and your money – safe. 1. Don’t share your secrets. Don’t provide your Social Security number or account information to anyone who contacts you online or over the phone. Protect your PINs and passwords and do not share them with anyone. Use a combination of letters and numbers for your passwords and change them periodically. Do not reveal sensitive or personal information on social networking sites. 2. Shred sensitive papers. Shred receipts, banks statements and unused credit card offers before throwing them away. 3. Keep an eye out for missing mail. Fraudsters look for monthly bank or credit card statements or other mail containing your financial information. Consider enrolling in online banking to reduce the likelihood of paper statements being stolen. Also, don’t mail bills from your own mailbox with the flag up. 4. Use online banking to protect yourself. Monitor your financial accounts regularly for fraudulent transactions. Sign up for text or email alerts from your bank for certain types of transactions, such as online purchases or transactions of more than $500. 5. Monitor your credit report. Order a free copy of your credit report every four months from one of the three credit reporting agencies at annualcreditreport.com. 6. Protect your computer. Make sure the virus protection software on your computer is active and up to date. When conducting business online, make sure your browser’s padlock or key icon is active. Also look for an “s” after the “http” to be sure the website is secure. 7. Protect your mobile device. Use the passcode lock on your smartphone and other devices. This will make it more difficult for thieves to access your information if your device is lost or stolen. Before you donate, sell or trade your mobile device, be sure to wipe it using specialized software or using the manufacturer’s recommended technique. Some software allows you to wipe your device remotely if it is lost or stolen. Use caution when downloading apps, as they may contain malware and avoid opening links and attachments – especially for senders you don’t know. 8. Report any suspected fraud to your bank immediately.
September 11, 2017
The average American spends over 10 hours a day using technology! With a growing dependence on the internet for everyday activities, consumers must make smart choices to remain safe and secure. Online banking is a convenient and efficient way to keep track of your money, make financial decisions, pay bills, and more. When it comes to banking, it is always safe to, well, “play it safe.” Here are some tips you can use to protect yourself and your banking information online. Passwords The first, and easiest, step to staying safe is monitoring your passwords. Change your password regularly, and mix up the use of uppercase and lower case letters, numbers, and symbols. Most importantly, never write down your passwords or type them in a document on your computer. Make sure you are using a secure network. If possible, monitor your account on your own Wi-Fi at home. If you are out in public, try using cellular data. In some cases, Wi-Fi may be the only option – make sure that website URL starts with https. This says that the website is secure. Don’t open or respond to suspicious emails. “Claim your $100 gift card NOW... I would like to send you $10,000… Click here for $1,000,000!” We have all received spam like this in our mailboxes. Many times, these are attempts by someone to steal your information and money. Simply delete any email from your inbox that seems a little fishy. So… what changes do you need to make today to remain safe while banking online? Stay tuned for more blogs coming soon!
August 8, 2017
The FDIC often hears from bank customers who believe they may be the victims of financial fraud or theft, and their staff members provide information on where and how to report suspicious activity. To help further, FDIC Consumer News includes crime prevention tips in practically every issue. As part of that coverage, FDIC features a list of 10 scams that you should be aware of, plus key defenses to remember. Over the next 10 Tuesdays, we will be sharing a tip per week to help you learn the basics on how to protect your personal information and your money. #1. Government “imposter” frauds: These schemes often start with a phone call, a letter, an email, a text message or a fax supposedly from a government agency, requiring an upfront payment or personal financial information, such as Social Security or bank account numbers. #2. Debt collection scams: Be on the lookout for fraudsters posing as debt collectors or law enforcement officials attempting to collect a debt that you don’t really owe. Red flags include a caller who won’t provide written proof of the debt you supposedly owe or who threatens you with arrest or violence for not paying. #3. Fraudulent job offers: Criminals pose online or in classified advertisements as employers or recruiters offering enticing opportunities, such as working from home. But if you’re required to pay money in advance to “help secure the job” or you must provide a great deal of personal financial information for a “background check,” those are red flags of a potential fraud. #4. “Phishing” emails: Scam artists send emails pretending to be from banks, popular merchants or other known entities, and they ask for personal information such as bank account numbers, Social Security numbers, dates of birth and other valuable details. The emails usually look legitimate because they include graphics copied from authentic websites and messages that appear valid. #5. Mortgage foreclosure rescue scams: Today, many homeowners who are struggling financially and risk losing their homes may be vulnerable to false promises to refinance a mortgage under better terms or rates. But borrowers should always be on the lookout for scammers who falsely claim to be lenders, loan servicers, financial counselors, mortgage consultants, loan brokers or representatives of government agencies who can help avoid a mortgage foreclosure and offer a great deal at the same time. These criminals will present homeowners with what sounds like the life-saving offer they need. Instead, the homeowner is required to pay significant upfront fees or, even worse, tricked into signing documents that, in the fine print, transfer the ownership of the property to the criminal involved. Common warning signs of fraudulent mortgage assistance offers include a “guarantee” that foreclosure will be avoided and pressure to act fast. #6. Lottery scams: You might be told you won a lottery (typically one that you never entered) and asked to first send money to the “lottery company” to cover certain taxes and fees. Similar examples involve bogus prize winnings and sweepstakes. “In one example, a scammer sent a letter to people using falsified FBI and FDIC letterhead telling them they won a popular, well-known lottery but that they needed to send money by wire transfer to a lottery ‘official’ in order to secure the winnings,” Benardo said. “The ‘official’ was really a crook hoping to trick people into sending money.” #7. Elder frauds: Thieves sometimes target older adults to try to cheat them out of some of their life savings. For example, telemarketing scams may involve sales of bogus products and services that will never be delivered. Warning signs include unsolicited phone calls asking for a large amount of money before receiving the goods or services, and special offers for senior citizens that seem too good to be true, like an investment “guaranteeing” a very high return. To help seniors and their caregivers avoid financial exploitation, the FDIC and the Consumer Financial Protection Bureau have developed Money Smart for Older Adults, a curriculum with information and resources (see our News Briefs). #8. Overpayment scams: This popular scam starts when a stranger sends a consumer or a business a check for something, such as an item being sold on the internet, but the check is for far more than the agreed-upon sales price. The scammer then tells the consumer to deposit the check and wire the difference to someone else who is supposedly owed money by the same check writer. In a few days, the check is discovered to be a counterfeit, and the depositor may be held responsible for any money wired out of the bank account. Victims may end up owing thousands of dollars to the financial institution that wired the money, and sometimes they’ve also sent the merchandise to the fraud artists, too.Thieves sometimes target older adults to try to cheat them out of some of their life savings. For example, telemarketing scams may involve sales of bogus products and services that will never be delivered. Warning signs include unsolicited phone calls asking for a large amount of money before receiving the goods or services, and special offers for senior citizens that seem too good to be true, like an investment “guaranteeing” a very high return. To help seniors and their caregivers avoid financial exploitation, the FDIC and the Consumer Financial Protection Bureau have developed Money Smart for Older Adults, a curriculum with information and resources (see our News Briefs). #9. "Ransomware": This term refers to malicious software that holds a computer, smartphone or other device hostage by restricting access until a ransom is paid. The most common way ransomware and other malicious software spreads is when someone clicks on an infected email attachment or a link in an email that leads to a contaminated file or website. Malware also can spread across a network of linked computers or be passed around on a contaminated storage device, such as a thumb drive. #10. Jury Duty Scams: A thief makes phone calls pretending to be a law enforcement official warning innocent people that they failed to appear for jury duty and threatening an arrest unless a “fine” is paid immediately. And to pay up, the caller asks for debit account and PIN numbers, allowing the perpetrator to create a fake debit card and drain the account. This article originally appeared on fdic.gov.
July 6, 2017
Kentucky is now using the search engine www.missingmoney.com to determine whether any funds have been escheated to the state that belong to you. Bankers know how to handle customer funds that need to be escheated to the state, but do you know how to claim funds that are due to you from an escheatable account? This could be anything from overpaid utilities, early termination of contracts or a forgotten bank account. Kentucky Bankers Association has performed a few random searches and discovered that there are abandoned property owed to them. When you search for an individual, if you get no results, you might want to try the search with just the last name. When looking for a business just put the first word or words of the name in the "last name" field. Leave the first name empty. The social security number is needed in order to verify identity, but it is a secure site.