Online Banking has added a convenience factor to conducting your business with Alabama ONE. However, with that convenience comes the threat of fraud. Together with Alabama ONE, you can take steps to protect your financial identity. A best practice to keeping your accounts safe is to be informed.
Alabama ONE will never initiate contact with its members to obtain or verify any account or personal information. Account and personal information includes account number, credit or debit card number, social security number, and/or online banking credentials. If you receive any request for this information, disconnect the call and immediately call the Credit Union at 205-759-1595 or 800-225-0110, or e-mail us at firstname.lastname@example.org to report the activity.
There are times that may require the Credit Union to contact you unsolicited. If you have a pending loan application, the Credit Union may contact you to obtain additional information to process the application. If the Credit Union suspects fraudulent activity on your Alabama ONE credit or debit card(s), you may be contacted by an employee of Alabama ONE or third party representing the Credit Union to validate the transaction.
Debit and Credit Card Fraud
Debit and credit card fraud takes place every day in a variety of ways. While you can’t always prevent fraud from happening, you can make it tougher for someone to get your card information. A few best practices can help you keep your cards safe.
Fraud protection practices include:
Online Banking Security
In Online Banking, security is a primary concern just as it is with traditional banking methods. At Alabama ONE, our goal is to make sure that your information is transmitted safely and securely. Therefore, we use the latest Internet security standards such as Secure Sockets Layer (SSL) that use a 128 bit encryption algorithm.
SSL provides the means for web browsers, such as Internet Explorer or Firefox, to establish a private connection with a web server. This private connection is established when your security-capable browser connects to a secure web page on the Internet.
When this connection is established, both the browser and the server are on a “private channel” where messages going in either direction are encrypted. You are assured that all data exchanged with the server is encrypted and/or unaltered.
Identity theft involves the fraudulent acquisition and use of a person’s identifying information, usually for financial gain. Identity thieves may use your information to repeatedly commit fraud which may include opening new accounts, purchasing automobiles, applying for loans, credit cards, and social security benefits, and/or renting apartments.
You can protect yourself by doing the following:
If you suspect you have become a victim of identity theft, you should immediately act to reduce any further damage.
Alabama ONE recommends you check your credit report at least annually even if you don’t suspect identity theft. In 2012, the Federal Trade Commission conducted a study and it found that 5% of consumers had errors on their credit reports that could result in less favorable terms for loans. Therefore, it is important to review your credit report just as you would a bank statement or credit card bill.
You may obtain your free credit report from each credit bureau at Annual Credit Report once every 12 months.
AdRoll Privacy Notice
Alabama ONE may collect user data such as IP addresses, cookies, or other tracking technologies such as pixels. This data may be used by AdRoll, our third-party provider, to target advertising on other websites based on your online activity. The AdRoll network is comprised of numerous websites. As such, the presence of an Alabama ONE banner ad does not imply that Alabama ONE is aligned with or supports the views expressed on each individual website.
If you wish to no longer to receive targeted ads served by Alabama ONE or on our behalf you have the ability to opt-out. More information on how to opt-out is available here. Please note that if you delete your cookies or upgrade your browser after opting out, you will need to opt-out again. Also, you will need to opt-out for each device and/or browser.
Social engineering relies heavily on human interaction. It involves tricking people into breaking normal security procedures and providing confidential information. Social engineers exploit a person’s natural inclination to trust instead of attempting to hack your software. Examples of social engineering techniques include the following:
Regulation E: Electronic Funds Transfers
Regulation E is designed to provide protection from fraudulent and/or unauthorized transactions to consumers making electronic funds transfers. Examples of transactions covered under Regulation E include: point-of-sale (POS) transfers; automated teller machine (ATM) transfers; direct deposit or withdrawal of funds; telephone transfers; transactions resulting from debit card transactions, whether or not initiated through an electronic terminal; and electronic check conversion.
In the event you notice a transaction that you believe could be fraudulent and/or unauthorized, call 205-759-1595 or 800-225-0110, or write to Alabama ONE, 1215 Veterans Memorial Parkway, Tuscaloosa, AL 35404. You must notify the Credit Union within 60 days from the transmittal of the statement on which a fraudulent and/or unauthorized transaction occurs.
For further information, see the Electronic Funds Transfers Disclosure Statement in your Master Account Agreement. If a copy of the Master Account Agreement is needed, call 205-759-1595 or 800-225-0110, or e-mail email@example.com.
Business and Commercial Accounts
Business and commercial accounts are not covered by Regulation E. Therefore, it is critical that business and commercial members implement sound security practices to reduce the risk of fraud and unauthorized transactions. While business and commercial accounts may not be covered under Regulation E, some protections may still apply to these accounts.
Alabama ONE advises each business and commercial member to perform a risk assessment and evaluate the controls they have in place periodically. The risk assessment should evaluate whether the business and commercial member has implemented sound security practices.
Alabama ONE recommends each business and commercial business member review information and guidelines provided by the Federal Trade Commission in order to ensure a sound security plan is put into place.