Smart Strategies for Safeguarding Your Business
At BBVA Compass, your security is important to us, and we're committed to helping ensure the safety of your personal information while banking online with BBVA Compass.
We also want you to have the information you need to bank smarter and more securely. Because we believe the more you know, the safer you will be. If you have any questions about this information, please contact us. We're here to help.
Use account security features
Take advantage of security-enhancing features built into your accounts. These include check-cashing limits to prevent large sums from being withdrawn and automatic payment filters to protect your account from fraudulent incoming payments.
Reconcile all banking transactions on a daily basis in order to detect fraud quickly. Spotting and reporting an irregularity early can significantly reduce the scope of the damage due to fraud.
The more controls, the better
Use a dual control system — with one transaction initiator and a separate transaction authorizer — for automatic payments and wire transfers.
Bank only from a secured system
If possible, carry out all online banking activities from a stand-alone, completely locked-down computer system that does not allow e-mail or Web browsing. This is particularly important if you have a large number of transactions or have high-dollar value transactions.
Be very wary of e-mails
Use extreme caution with e-mails from financial institutions, government departments or other organizations that request information such as account numbers, usernames, passwords, or PIN codes. BBVA Compass will never ask you to update or verify your account information through an e-mail. If you receive an e-mail requesting this information – report it as it is not from BBVA Compass. Organizations generally never ask for this information to be included in an unsecure e-mail. What's more, even clicking on attachment files or web links in these e-mails could expose your system to malicious software.
Use a firewall
Reduce the possibility your system will be accessed by unauthorized users by installing a dedicated, actively managed firewall. This is particularly important if you have broadband or a dedicated connection to the Internet like DSL or cable.
Choose passwords carefully
Security experts typically recommend they have at least 10 characters that include a combination of upper- and lower-case letters, numbers and special characters such as punctuation marks, brackets, and pound or dollar signs.
Be smart with passwords
- Do not allow shared usernames and passwords for online banking.
- Never use the same password for multiple accounts or websites.
- Change your password several times a year.
- Never share username or passwords with third-party providers.
- Don't use automatic login features that save usernames and passwords.
Control administrative rights
To reduce the possibility of accidental downloading of viruses and other damaging software, limit the administrative rights on users' workstations.
Use security software
Use commercial security software — antivirus and firewall — on all computers. Don't rely on free software, as it might not protect against all threats. Once installed, make sure this security software is regularly updated. Also consider using spyware detection software.
Security patches correct potential mistakes or shortcomings in software. Make sure security patches are up to date on all computers. Often, it's possible to sign up for automatic updates from software providers.
Clear the cache
Make a habit of clearing the cache on your browser before every online banking session. This eliminates copies of web pages that have been viewed recently, improves security and can improve computer performance. How to clear your cache depends on what browser you use, but it is typically managed from your browser's preferences menu.
See if it's secure
When banking online always make sure the web site you are using is secure. You can do this by checking the address window. ‘Https' indicates a secure site, while ‘http' indicates the site is not secure.
Always log out
Never leave a computer unattended while using online banking or any other financial services. If you need to leave the computer — even for a matter of minutes — always log out. Even though online banking sessions "time out" and automatically log you out, make it a habit to always log out when you have completed your banking session.
Don't bank from public computers
Never access online banking or other financial services sites from public or shared computers, like in libraries or Internet cafes. Software designed to capture account numbers or sign on information could have been installed on these computers without the knowledge of the owner.
Report suspicious transactions immediately
This is particularly important for ACH or wire transfers as there is a limited recovery window for these transactions. Reporting suspicious transactions to the bank the moment you spot them can help prevent further loss as well.
Share information about fraud with other businesses
One of the best ways to hear about scams is from other businesses that have been victimized. If you are aware of a particular scam or fraudulent activity, spread the word.
Understand your liability
Make sure you review your account agreement and online banking agreement carefully so you understand your potential responsibility in the event of fraud.
At BBVA Compass, we're committed to keeping your business, your accounts, and your information as safe as possible. If you ever have any questions, or we can help you in any way, please contact us.