Increasing Authentication Measures During Banking Transactions

Americans reported to the Federal Trade Commission (FTC) a record $3.56 billion lost to online fraud in the first six months of 2022—a nearly 50 percent increase from the same period a year ago. Thieves are after your money that you have worked hard to earn and are always working on new ways to gain access to your accounts in fraudulent ways. That’s why it is so important for you, as our valued customer, to be diligent with your accounts.

To keep this from occurring within our institution, we have had to increase our level of authentication to verify the validity of transactions that go through your accounts.  We are asking more identifying questions, requiring more information, and taking additional steps to safeguard your accounts as never before because we are committed to the protection of your financial assets.

We know that some of our customers have been banking with us for decades. Some of our staff are new and may not be familiar with you and your valued relationship with us. Please do not be offended if they are doing their job by following our increased security measures to verify who you are or asking you to update your information with us.  They are yearning to know you and will be able to recognize you in the future. We truly respect everyone, even more reason that we make certain that no one is trying to gain access to your accounts.

We ask that you please partner with us in deterring fraud and theft by looking at your accounts occasionally to make sure that there are no transactions that you are not familiar with and keep your identifying information confidential.  Do not give out any information to anyone over the phone.  Murphy-Wall State Bank & Trust Company will never call you to ask for your information.

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