Security Best Practices

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Reading Cooperative Bank safeguards information according to established security standards and procedures in order to keep your financial information secure and confidential. In addition, we have external vendors perform regular audits of our system. The result is a “layered security” platform, one that ensures protection throughout the banking process, on your computer, during the transmission of information, and in the bank’s own computer systems.

Layered security means that, rather than rely on one security measure, we use many lines of defense to protect your account information. Whether you are viewing your account information, transferring money, or paying your bills, you can depend on your accounts and your account information being safe.

Due to the sophisticated nature of cybercrimes, there is not one single solution for online security. Reading Cooperative Bank takes numerous steps to keep your accounts and personal information secure, and you also play a role in maintaining the security of your banking information. Here are some of the things Reading Cooperative Bank does and that you can do to help keep your online banking safe.

What Reading Cooperative Bank Does To Protect You

Encryption

Reading Cooperative Bank uses a minimum 128-bit encryption for Internet Banking transactions, and each session uses a unique master key to encrypt messages. Encryption is a communications process that scrambles private information to prevent unauthorized access during the exchange of information between your computer and the online banking servers. Once you sign off, the master key used for that session becomes useless, as it is only good for one session.

Secure Login

You authenticate your online banking session by entering your unique User ID and password (sometimes referred to as your PIN), both of which are encrypted as they pass over the Internet and before they are stored on our system. Once you change your password on the first access, we do not have access to your password to further increase security.

Timed Log-Out

If you forget to log out, or if your online banking session is inactive for more than 10 minutes, we take care of you by ending the session. You will need to log back in to access your information.

Please note: If you need assistance, RCB Customer Service or Banking Specialists may ask for your username, but we will never ask you for your password.

Customer Responsibilities

Reading Cooperative Bank takes numerous steps to keep your accounts and personal information secure, but you also play a role in maintaining the security of your banking information. Here are some things you can do to help keep your online banking more safe and secure.

Protect the Confidentiality of Your User ID and Password

Creating a good password and keeping it a secret are essential to keeping your online banking account secure. As you are responsible for what occurs with your online ID, we strongly recommended that you follow these guidelines to prevent someone from obtaining your password and abusing your account.

  • Make your password unique and change it regularly. You should never use a password that would be easy for others who know you to guess, or one that a common password cracking utility could find.
  • Do not reuse this password on any other system, as a breach on another system would expose their banking password.
  • Your online ID and password authenticate you when you begin an online banking session. Keep your password long and secure.
  • Do not share your password with anyone. Sharing your password (PIN) with someone else is the same as giving that individual authority to use your name in a transaction.
  • Never leave your devices unattended in a public place.

Log Out When You Are Finished Using Online Banking

We recommend our online banking users complete online transactions and log out before visiting other sites or turning off their computers. We also suggest they do not visit other sites when logged in to online banking. In addition, you may not always be at your own computer when you bank online; therefore, it’s important to sign off using the “Log Out” tab when you’re finished banking.

Use a Current Browser and Anti-Virus Software

Reading Cooperative Bank recommends you use a modern browser and install and use a good-quality anti-virus software. It is also very important that you stay up-to-date with patches and updates on both. There are security patches issued regularly that fix new issues that may be exploited.

Ensure That You Keep Your Information Secure

As explained in Reading Cooperative Bank’s Online Banking Agreement and Disclosure Statement, you are responsible for keeping your Password, account numbers, personal identification information, and other account data confidential.

  • Select a strong, unique Online ID and Password.
  • Do not give or disclose any part of your Online ID and Password to anyone. Bank employees may request your ID when accessing your account profile, but should never ask for your password.
  • Do not send your password or account information over any public or general email system.
  • Do not send personal or financial information over unsecure websites.
  • Do not release any personal information on the phone, in the mail, or over the Internet unless you initiate the contact or are certain you know whom you’re dealing with.
  • Contact us immediately if there are charges on your account you don’t recognize.
  • Do not leave your computer unattended while you are connected to Online Banking.
  • Pay special attention to security on your local computer. Watch for any changes or suspicious activity.
  • If using a public computer, be sure to log out of your internet sessions, close the browser, and clear your browser cache.
  • Backup your important data and files regularly.

RCB customers should evaluate where and how you access online banking for additional risks.

If You Have Suspicions

If you notice suspicious activity within your account or experience security-related events (such as a Phishing email purporting to be from your bank), you may contact anyone at your bank and you will be quickly and courteously guided to the person responsible for such issues.

Contact us at security@readingcoop.com or 781-942-5000

Cardholder Fraud Education

We want to remind everyone how stolen cardholder information is used to commit fraud. Fraudsters have become increasingly adept at getting cardholders to share the information they need to commit fraud by posing as financial institution call center agents, or by sending text messages that look like they are coming from their institution, warning of suspicious transaction activities. They are also known to call in to call centers posing as cardholders requesting changes to card information and parameters.

Fraudsters use information stolen through data breaches (at health insurance providers, reward program providers, credit bureaus, merchant terminals, and social media sites, to mention just a few recent ones) as well as through malware programs deployed on personal computers and other sources. Stolen personally identifiable information (PII) is combined with stolen card information, resulting in sufficient information to create profiles that fraudsters can use to position themselves as the actual cardholders.

Here are some tips to help you keep your information safe:

  • A text alert from RCB warning of suspicious activity on your card will NEVER include a link to be clicked. Cardholders should never click on a link in a text message that is supposedly from RCB. A valid notification from RCB will provide information about the suspect transaction and ask the cardholder to reply to the text message with answers such as ‘yes’, ‘no’, ‘help’, or ‘stop,’ and will never include a link.
  • A text alert from RCB will always be from a 5-digit number and NOT a 10-digit number resembling a phone number. Text caller IDs will be 20733 if you use the standard call center, or 37268 if you use the premium call center.
  • A phone call from RCB’s automated dialer will only include a request for a cardholder’s Zip code, and no other personal information, unless you confirm that a transaction is fraudulent. Only then will you be transferred to an agent who will ask questions to confirm their identity before going through their transactions.
  • RCB will NEVER ask for the PIN or the 3-digit security code on the back of a card.
  • RCB will NEVER initiate an email asking for a cardholder’s account information. An email would have to first be requested by the customer.
  • Posing as call center agents, fraudsters will often ask cardholders to verify fake transactions. When the cardholder says no, they did not perform those transactions, the fraudster then says that their card will be blocked, a new card will be issued, and that they need the card’s PIN to put on the new card. Many people believe this and provide their PIN.
  • Regularly check your account(s) online for suspicious transactions, but especially if they are unsure about a call or text message they’ve received. If anything looks amiss, call your institution directly for assistance.
  • If you have received a voice or a text message from RCB’s fraud call center and are unsure about responding to it, call your institution directly for assistance.

ID Theft & Safety Tips

Bank Solicitations

Reading Cooperative Bank does not solicit customers’ account or personal information via phone, email or text messaging. Should you receive any solicitations requesting account information (for example, your account number, debit card number, PIN, etc.), do not respond.

Elder Abuse

Elder Financial Abuse has become something that happens more frequently as the years go by. Here are some tips that the elderly can use to possibly help prevent this from happening:

  • Never give out your social security number to anyone that calls you
  • Don’t carry your social security card with you. It is best to keep it locked up in a safe
  • Do not place your social security number or driver’s license information on your checks
  • Be suspicious of telephone solicitors
  • Be suspicious of anyone that knocks on your door that is offering you home repairs. It is always best to check out anyone with the local Better Business Bureau
  • If you have someone that provides you home health, make sure that your financial information is not left in an area that can be accessed without your knowledge

Use the United States Senate Aging Committee toll-free fraud hotline at 1-855-303-9470 to report suspected fraud.

Identity Theft

Identity theft occurs when someone uses your personally identifying information, like your name, Social Security number, or credit card number, without your permission to commit fraud or other crimes. The FTC (Federal Trade Commission) estimates that as many as 9 million Americans have their identities stolen each year. Call 1-877-438-4338 or visit www.consumer.gov/idtheft.

The crime takes many forms. Identity thieves may rent an apartment, obtain a credit card, or establish a telephone account in your name. You may not find out about the theft until you review your credit report or a credit card statement and notice charges you didn’t make—or until you’re contacted by a debt collector. Identity theft is serious. While some identity theft victims can resolve their problems quickly, others spend hundreds of dollars and many days repairing damage to their good name and credit record. Some consumers victimized by identity theft may lose out on job opportunities, or be denied loans for education, housing or cars because of negative information on their credit reports.

In rare cases, they may even be arrested for crimes they did not commit.

How do they do it?

Identity theft starts with the misuse of your personally identifying information such as your name and Social Security number, credit card numbers, or other financial account information. For identity thieves, this information is as good as gold. Skilled identity thieves may use a variety of methods to get hold of your information, including:

  • Pretexting – they use false pretenses to obtain your personal information from financial institutions, telephone companies and other sources
  • Dumpster Diving – they rummage through trash looking for bills or other paper with your personal information on it
  • Skimming – they steal credit/debit card numbers by using a special storage device when processing your card
  • Phishing – they pretend to be financial institutions or companies and send spam or pop-up messages to get you to reveal your personal information
  • Changing Your Address – they divert your billing statements to another location by completing a change of address form
  • Old-Fashioned Stealing – they steal wallets and purses; mail, including bank and credit card statements, preapproved credit offers, new checks or tax information, and personnel records; they bribe employees who have access

How do you find out?

The best way to find out is to monitor your accounts and bank statements each month, and check your credit report on a regular basis. If you check your credit report regularly, you may be able to limit the damage caused by identity theft.

What should customers do?

Filing a police report, checking your credit reports, notifying creditors, and disputing any unauthorized transactions are some of the steps you must take immediately to restore your good name. A police report that provides specific details of the identity theft is considered an Identity Theft Report, which entitles you to certain legal rights when it is provided to the three major credit reporting agencies or to companies where the thief misused your information. An Identity Theft Report can be used to permanently block fraudulent information that results from identity theft, such as accounts or addresses, from appearing on your credit report. It will also make sure these debts do not reappear on your credit reports. An Identity Theft Report is also needed to place an extended fraud alert on your credit report. You may not need an Identity Theft Report if the thief made charges on an existing account and you have been able to work with the company to resolve the dispute. Where an identity thief has opened new accounts in your name, or where fraudulent charges have been reported to the consumer reporting agencies, you should obtain an Identity Theft Report so that you can take advantage of the protections you are entitled to.

In order for a police report to entitle you to the legal rights mentioned above, it must contain specific details about the identity theft. You should file an ID Theft Complaint with the FTC and bring your printed ID Theft Complaint with you to the police station when you file your police report. The printed ID Theft Complaint can be used to support your local police report to ensure that it includes the detail required. A police report is also needed to get copies of the thief’s application, as well as transaction information from companies that dealt with the thief. To get this information, you must submit a request in writing, accompanied by the police report, to the address specified by the company for this purpose.

How can you help?

Awareness is an effective weapon against many forms identity theft. Be aware of how information is stolen and what you can do to protect yours, monitor your personal information to uncover any problems quickly, and know what to do when you suspect your identity has been stolen. Armed with the knowledge of how to protect yourself and take action, you can make identity thieves’ jobs much more difficult. You can also help fight identity theft by educating your friends, family, and members of your community.

  • FTC Identity Theft Hotline: 1-877-438-4338
  • TransUnion: 1-800-680-7289
  • Experian: 1-888-397-3742
  • Equifax: 1-800-525-6285

Update Your Browser

As computers become more powerful, their browsers and operating systems evolve. Keeping up with these changes will improve your online experience and confidence that your online banking is secure. 

The following list provides links to the most up-to-date versions of common browsers: