Bank of Canton deposits are 100% insured!
All deposits at Bank of Canton are insured in full with at least $250,000 insured by the Federal Deposit Insurance Corporation (FDIC) and all deposits above the FDIC limits are insured by the Depositors Insurance Fund.
The Depositors Insurance Fund (DIF) is a private, industry-sponsored insurance company created by the Massachusetts state government in 1934. And, since its creation, no depositor has ever lost a penny in a Massachusetts-chartered savings bank insured by both the FDIC and the DIF.
Rest assured, your deposits at Bank of Canton are always safe, sound and secure!
If you have any questions regarding deposits insurance coverage, please contact our Customer Information Center at 888.828.1690, or visit the following websites:
Federal Deposit Insurance Corporation (FDIC)
Depositors Insurance Fund (DIF)
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The FBI says identity theft is the fastest growing white-collar crime in the nation. It involves criminally using another individual's personal identifiers, which are acquired through various means, including your own mail box. Identity thieves need only obtain your name, address, and bank or credit card account numbers, or your social security number, etc., to take over your identity. The crooks can then change your address, open new accounts at banks and credit card companies in your name, and deplete your funds, running up huge credit card balances and generally creating havoc with your good name and credit rating. Here are a couple of typical complaints to the Federal Trade Commission and a few pointers to help you avoid becoming a victim. |
Identity Theft and You: When your name and credit history are on the line
"Someone used my social security number to get credit in my name. This has caused a lot of problems. I have been turned down for
jobs, credit, and refinancing offers. This is stressful and embarrassing. I want to open my own business, but it may be impossible with this unresolved problem hanging over my head"
"Someone is using my name and social security number to open credit card accounts. All the accounts are in collections. I had no idea this was happening until I applied for a mortgage. Because these 'bad' accounts showed up on my credit report I didn't get the mortgage."
These complaints reflect just two of the tens of thousands of instances of identity theft that have impacted ordinary people. Identity theft affects not just the wealthy. It can impact anyone. Identity theft results in job turndowns, denied loans and impaired credit history; Repairing the damage from identity theft may take months, even years.
There are ways to help protect against identity theft. Some of this is accomplished when a bank asks you for identification or your credit card company calls to verify a recent purchase. Banks and law enforcement will do what they can, but identity theft is often very difficult to detect.
Protecting Yourself Against Identity Theft
This is chiefly your responsibility. You are in the best position to protect your own identity by taking some basic precautions. The list that follows suggests some of the things you can do.
- Use passwords on all accounts and your PC that are difficult to guess, and don't use the same password for everything. Don't use passwords that relate to family names, birth dates, your SSN, addresses, or your job.
- Do not keep passwords on you, and don't write such information on debit or ATM cards.
- Shred or tear up your charge receipts, credit card solicitations, expired cards, statements, checks and other sensitive personal information.
- Carry only the identification and bank/credit cards you actually need.
- Review your monthly statements promptly and carefully and immediately report anything that you question, or if the bill does not arrive on time.
- Call your credit card company immediately if your new card has not arrived.
- Destroy and cancel old, unwanted or unused credit cards. Cutting them up is not enough.
- Don't give private information to anyone unless you are positive who the person is and that there is a legitimate need for the information.
- Never lend your password to anyone - you will probably be responsible for everything that results.
- Guard your mail. Deposit outgoing mail at the post office rather than in your mailbox, and promptly remove mail from your mailbox.
- Be absolutely positive of the identity of anyone telephoning you to request personal information. Be especially cautious of anyone claiming to be a law enforcement official. Arrange to call the person back, using a phone number you can verify in the phone book.
- Do not give out personal data over the phone, through the mail, or on the Internet unless you have initiated the contact.
- Periodically check your credit report to see if there are loans or credit cards outstanding that you don't know about.
- Never write down PINs - memorize them and do not use any part of your social security number, mother's maiden name, birth date or address.
- Guard YOUR social security number. Never carry it in your wallet, or write it on checks
- Give your social security number only when absolutely necessary. Ask to use other identifiers.
- Be careful and mindful of who is around you at ATMs and when using phone cards. "Shoulder surfers" can get your PIN number and gain access to your account.
Sources for Assistance
The Federal Trade Commission (FTC) Is the Federal government's primary agency for dealing with identity theft matters. They operate a hotline devoted only to identity theft. The toll-free number is: 1-877-IDTHEFT (438-4338). The FTC publication Identity Theft: When Bad Things Happen to Your Good Name, February 2002, contains many useful tips such as:
- How identity theft occurs
- How identity thieves use your personal information
- Minimizing your risk
If You Become a Victim
- First, contact the fraud departments of each of the three major credit bureaus.
- Second, contact the creditors or bank for any accounts that have been tampered with or opened fraudulently.
- Third, file a report with your local police or the police in the community where the identity theft took place.
The telephone numbers of the three major credit-reporting agencies are:
Equifax - To order your report, call: 800-685-1111, or to report fraud, call: 800-525-6285/ TDD: 800-255-0056
Experian - To order your report, call: 888-EXPERIAN (397-3742), or to report fraud, call: 888-EXPERIAN (397-3742)/ TDD: 800-972-0322
TransUnion- To order your report, call: 800-916-8800, or to report fraud, call: 800-680-7289
Get your free annual credit report online.
Identity Theft and Assumption Deterrence Act of 1998
The Identity Theft and Assumption Deterrence Act makes it a federal crime when someone:
"knowingly transfers or uses, without lawful authority, a means of identification of another person with the
intent to commit or to aid or abet any unlawful activity that constitutes a
violation of federal law, or that constitutes a felony under any applicable state or local law. "
Note that under the Act, a name or SSN is considered a "means of identification." So is a credit card number, cellular telephone, electronic serial number or any other piece of information that may be used alone or in conjunction with other information to identify a specific individual.
National Association of Bank Security
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The federal banking, thrift and credit union regulatory agencies have published an informational brochure to assist consumers in identifying and preventing a new type of fraud known as "phishing." |
The term "phishing" - as in fishing for confidential information - is a scam that encompasses fraudulently obtaining and using an individual's personal or financial information. In a typical case, the consumer receives an e-mail requesting personal or financial information; the e-mail appears to originate from a financial institution, government agency or other entity. The e-mail often indicates that the consumer should provide immediate attention to the situation described by clicking on a link. The provided link appears to be the Web site of the financial institution, government agency or other entity. However, in "phishing" scams, the link is not to an official Web site, but rather to a phony Web site. Once inside that Web site, the consumer may be asked to provide Social Security numbers, account numbers, passwords or other information used to identify the consumer, such as the maiden name of the consumer's mother or the consumer's place of birth. When the consumer provides the information, those perpetrating the fraud can begin to access consumer accounts or assume the person's identity. These complaints reflect just two of the tens of thousands of instances of identity theft that have impacted ordinary people. Identity theft affects not just the wealthy. It can impact anyone. Identity theft results in job turndowns, denied loans and impaired credit history; Repairing the damage from identity theft may take months, even years. There are ways to help protect against identity theft. Some of this is accomplished when a bank asks you for identification or your credit card company calls to verify a recent purchase. Banks and law enforcement will do what they can, but identity theft is often very difficult to detect.
Get the Brochure
The brochure explains the basics of "phishing," the steps consumers can take to protect themselves, and the actions that consumers can take if they become a victim of identity theft. The brochure is available in a downloadable form through the FDIC's Web site at 224k (PDF).
If You Become a Victim
- First, contact the fraud departments of each of the three major credit bureaus.
- Second, contact the creditors or bank for any accounts that have been tampered with or opened fraudulently.
- Third, file a report with your local police or the police in the community where the identity theft took place.
The telephone numbers of the three major credit-reporting agencies are:
Equifax - To order your report, call: 800-685-1111, or to report fraud, call: 800-525-6285/ TDD: 800-255-0056
Experian - To order your report, call: 888-EXPERIAN (397-3742), or to report fraud, call: 888-EXPERIAN (397-3742)/ TDD: 800-972-0322
TransUnion- To order your report, call: 800-916-8800, or to report fraud, call: 800-680-7289
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How to Guard Against Internet Thieves and Electronic Scams |
Identity theft continues to be one of the fastest growing crimes in the United States, and has ranked as one of the top consumer concerns for the past several years. The Federal Deposit Insurance Corporation (FDIC) has produced a multimedia presentation to help consumers protect themselves from identity theft. The presentation provides information on steps consumers should take to secure their computer and protect themselves from identity theft, as well as actions consumers should take if they become a victim of identity theft. This presentation is hosted by Vodium.
Don't Be an On-line Victim: How to Guard Against Internet Thieves and Electronic Scams
Macromedia Flash Player is required to view this presentation. The latest version of Macromedia Flash Player can be downloaded at www.macromedia.com/go/getflashplayer. Installation questions or troubleshooting help can be found at http://www.macromedia.com/support/flash/.
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Were making online banking more secure than ever! |
The security of your financial information is Bank of Canton's highest priority. To continue providing a safe and secure online banking environment, we'll be introducing significant security enhancements. Although many of the security enhancements will be transparent to our users, you will begin to notice a few changes to your online banking experience in the coming weeks. These changes are designed to ensure that you are actually at the Bank of Canton website, and that only authorized users can access your online banking service.
The first change you'll notice is to the login process. Currently, you log in to online banking by entering your Access ID and Password on the Bank of Canton homepage. In the future, you will continue to enter your Access ID on the homepage. but your Password will be entered on a subsequent page.
Additional Information About Personal Online Banking…
Once the login changes take effect, you'll need to provide additional information regarding a Security Image and Security Questions. For the Security Image, you'll select and name an image from a group of available images. This Security Image will be displayed prominently on our online banking site each time you log in so you know that you are on our site and not on another website.
For the Security Questions, you'll select and answer three questions of a personal nature. Then, if at some point in the future we don't recognize the computer you are using when you log in, we'll ask you to answer one of the security questions you've selected. If you answer the question correctly, you'll be able to access Bank of Canton Personal Online Banking.
Additional Information About Business Online Banking…
Your Access ID will remain the same after the changes take place, but your Password will change each time you log in. Bank of Canton will issue a Token to each authorized user, which, when activated, will display an 8-digit, one-time password code. To log in, you'll need to enter the password code and a 4-digit PIN when prompted for your Password. You will be able to select your PIN code before any of these security changes take place. Stay tuned for more information on receiving your Token and instructions for enabling it.
Questions? Concerns?
If you have any questions or concerns regarding these security enhancements, please call the Bank of Canton Customer Information Center at 888.828.1690, or stop by any of our conveniently located branch offices and speak with a customer service representative.
Important information about compromised cards.
As you may be aware, Hannaford, Bros. announced in March it had suffered an unauthorized intrusion into their computer systems that process and store information related to customer transactions. It has been reported by Hannaford, Bros. that no personal information, such as names or addresses, was accessed.
It is important to note that this was not a breach of Bank of Canton systems or data.
At Bank of Canton, we remain committed to protecting the confidentiality of your information and accounts. Hannaford, Bros. has begun to provide credit card companies, banks, and processing entities with the credit and debit card numbers they have identified as having been compromised.
If your credit card or debit card was affected, you should have received a notification with further instructions from us.
Please continue to follow these steps to protect yourself:
- Do not provide personal or financial information over the phone or by email.
- Once you receive a replacement credit or debit card, please destroy your old card.
- Report any losses or suspected fraud to Bank of Canton immediately.
- Monitor your accounts for unusual activity.
Please see important information below to learn about additional steps you can take to guard yourself against identity theft.
