Virtual Branch®
(Home Banking)
The
NCUA now requires all credit unions to implement “dual authentication” for
all
internet banking services. As e-Commerce services increase, criminals are
using
more
sophisticated methods for account fraud and identity theft. Credit
unions are
becoming more diligent in the safeguarding of member information, reducing
fraud,
inhibiting identity theft, and in preventing money laundering and terrorist
financing.
An
effective security measure which mitigates these risks is the implementation
of an
effective “dual authentication” system.
Our
Home Banking system uses Multifactor Authentication
which is a new
tool that provides
added protection for your online data and helps guard
against
fraudulent online
activities, like Phishing scams and Identity Theft.
Using
more
than one factor to
identify you as a user will give you more protection
online than using
single factor approaches such as using only a
password. If a
questionable logon is
detected, the system will require additional identity
verification.
Authentication is the process of verifying a member’s identity using a
variety of
methodologies and technologies prior to a member gaining access to our home
banking system. This is just another way to ensure members are who they say
they
are. A single-factor authentication (such as a user name and password)
may
not be adequate for high risk transactions involving member information or
fund
transfers.
Please
contact a SECU member services representative at 735-3571 if you have
any
questions or concerns.
Click
here to go back to
Home Banking page.

