Peoples Bank addresses DDoS threat

These days we don’t have to worry with just the criminals in our community. Attacks may come from thousands of miles away.

Recently there have been stories in the news media about Distributed Denial of Service (DDoS) attacks directed against banks. In these types of attacks, cyber criminals send a flood of internet requests to a bank’s website. This “digital deluge” makes it appear that the site is down and something bad has happened (or is happening). Such attacks are usually distractions meant to disguise some other criminal activity or to draw attention to a particular social issue. For example, a recent DDoS attack occurred immediately prior to a criminal attempt of a fraudulent wire transfer. Customer data is generally not vulnerable due to these DDoS episodes.

The flood of internet requests that characterize a DDoS attack can come from a small discrete block of computers or, in sophisticated attacks, from thousands of computers whose owners may or may not be aware of what is happening.

The attacks themselves are hard to predict and avoid. However, we can do things both to prepare and to respond to this particular type of threat.

Should Peoples Bank be the target of a DDoS attack, here is what you should know.
In the event of a DDoS attack, our systems will immediately send an alert and trigger our mitigation protocol. We will then be looking at our internal network traffic to ensure no other suspicious activity is taking place “under cover” from the DDoS event.

While our technical team is addressing the issue, we will escalate our customer communication efforts. Peoples Bank maintains alternate communication channels to keep you informed if our primary web page is inaccessible. If the web site is “down” or slow to respond to your requests, you should check the below sites regularly or, if the attack is affecting a large swath of the internet, contact our customer service team. You may wish to print this list or put this information in a convenient place for future reference.

Should a DDoS attack affect our web site’s performance or any of our internet processes, we will be immediately working with trusted vendors to 1.) ensure there is no compromise in customer data security and 2.) restore operations to your expectation and needs.

Bank data, not just the money in our safe, is under constant threat. Peoples Bank is always working to guard your customer information. We work closely with federal and state agencies and we adhere to IT security best practices. Our network is “hardened” with top-of-the-line hardware and software and we keep it current with advances in technology. Secure entry protects our facilities. Our website is also designed to withstand the threat of hackers and cyber attack.

Sometimes DDoS attacks originate from a proxy, from computers infected with a virus or other malware. Some financial institutions experienced a DDoS attack from software that was secretly installed on their customers’ computers! These customers were unaware of the malicious software that caused such trouble.

Banks are not the only ones who need to verify their computers are running current operating systems, with up-to-date software patches. Customers also need to make certain their devices are secure and clean from infection of malicious software. This requires a good regimen of “digital hygeine” for computers and mobile devices such as tablets and smart phones. It also requires a strong password for the computer itself and for web sites where sensitive information is stored. Check out How to Protect Your Identity on TheRealPeoplesBank.com and be sure to read about these topics from our series of online security blog posts.

Related links:
FBI’s E-Scams & Warnings site: http://www.fbi.gov/scams-safety/e-scams
FDIC Consumer Protection site: http://fdic.gov/consumers/

Better loan rates for people who manage their credit report

Better loan rates for people who manage their credit reportBeing proactive in monitoring your credit report may help you qualify for a better loan rate. Credit reporting agencies, to produce your credit report, keep track of things such as payment history, credit limits and available balances of open credit accounts. They are required by law to provide a free copy of your credit report when you ask for it, once a year. Managing your credit by including a regular review of your credit report can provide many benefits.

Among other things, when assessing your loan qualification banks rely on your credit score as distributed by credit reporting agencies. So, monitoring to ensure there’s been no identity theft is not the only reason to periodically review your credit report.

By monitoring your credit report from the big three agencies (EquiFax, Experian, Transunion), you can proactively ensure the accuracy of your credit history. You also get a view of how a bank might assess your credit worthiness. It may also help to provide a sense of how you might improve your score, perhaps by closing out unused accounts or paying them off. And, it may serve to remind you of good reasons to be conservative, especially with credit offers that you may receive, solicited or not.

To get your free credit report, browse to AnnualCreditReport.com. Note that each agency is to provide a free credit report once a year upon request, so you might set a schedule to request your report from a different agency every 4 months to ensure that you are reasonably up-to-date (and that they are accurate) throughout the entire year. The US Federal Trade Commission’s web site contains very helpful information about how you can use free credit reports to your benefit. Their “Free Credit Reports” post has many useful links and tips, as well as a very good “Frequently Asked Questions” (FAQ) section.

Of course, your FICO score and credit report likely does not tell your full story. The economy of recent years has adversely affected many peoples’ financial status and an impersonal credit report can’t convey your integrity and commitment. No big bank can get to know you, either.

We urge you to talk to a “real peoples” banker in your community when you want to talk about a loan. Your local community banker can better help you when it comes time to consider a major investment, such as that new home your family needs, or a more reliable car.

Links to more information:

Money Management Learning for Young Adults

Money Management for Young AdultsHelping young people succeed is one of the most important things a society can do. High on the list of ways to achieve that is teaching sound money management skills. Where can you find information about borrowing, saving and avoiding scams?

The FDIC recently published a special resource online to help young adults learn money management techniques. Especially valuable for those under 21 who may still be in school, the money guide also has good information for parents, grandparents and guardians.

Look for specific information about:

  • Saving money to meet specific goals, made easier with the help of automated services;
  • Choosing and using an account for everyday banking;
  • Mobile banking by smartphone;
  • Building a good credit record;
  • Obtaining and repaying student loans;
  • Getting a good deal on an auto loan;
  • Avoiding mistakes with credit cards;
  • Recovering from debt or bill-payment problems; and
  • Guarding against fraud, including identity theft.

Get the full details from the FDIC’s special 2012 Fall newsletter.

Of course, you also have resources close to home at Peoples Bank. With special banking products for children, we help kids and their guardians learn how to begin saving for the future at an early age. Practicing good money management is critical if future financial needs are to be met. Talk to a community banker from Peoples Bank and take advantage of the resources available to you right here at home.

Three Simple Steps to a GREAT Password

A password is GREAT if it is both easy to remember and hard to crack.

Most passwords fail at one or both of these criteria. Passwords that are easy to remember are almost never the sort to satisfy the requirements of a secure content provider such as your bank. Your phone number is easy to remember and so are your initials; both are matters of public record and easy to guess (read: hack). On the other hand, think of the last time you had to come up with a password of more than 5 characters that had a number and funny character in it and remember what it was. Chances are you had to write it down, perhaps on a note that is in close proximity to your computer.

The truth is that the solution to making passwords good for both parties – you and your secure content provider – is not just yours to find. Secure content providers could help with more robust and user-friendly password patterns. Most sites that require passwords make it impossible to use a password you can easily remember. Financial websites in particular have password requirements that were not designed with “easy to remember” as a standard. Continue reading →