Cyber crime and Internet fraud schemes steal millions of dollars each year from victims and continue to plague the Internet through various methods. The cyber world is expanding. We now store more personal and financial information on the Internet than ever, and this has unfortunately instigated the increase in cyber crime.
To reduce fraud opportunities, vigilance is key. It starts with you and is backed up by Tower. Be sure to closely monitor all of your accounts for any transactions or charges you don’t recognize. Experts say you should come up with a system that works for you to do this at least monthly.
We provide convenient alerts and controls to keep you abreast of account activity on a daily basis. Here’s what you can do to help protect your Tower accounts:
- Set up account alerts in Home Banking and push notifications in Tower’s Mobile App. Account alerts are a proactive way you can help identify and fight fraud on your accounts. Once you set up account alerts, Tower will alert you if certain transactions occur on your account. For instance, Tower will send you an alert if there is a large withdrawal or deposit. You select which actions you wish to receive alerts for, either by e-mail or text.You probably always have your phone with you, so another way to monitor your accounts is with Tower’s Mobile App. You can get real-time information via push notifications sent right to your mobile device.
- Set up Debit Card Controls. Debit Card Controls allow you to lock and unlock your Tower debit card in the event you misplace it or it is stolen. Available in our Mobile App, Debit Card Controls also gives you more control over card security by allowing you to set parameters on how and where your debit card can be used—by transaction type, merchant category, location or transaction amount. Real-time alerts keep you up to the minute on account activity. You also can set up alerts to track specific transactions and activities based on your controls. You don’t have to worry about unauthorized purchases, because your Tower debit card includes Mastercard’s Zero Liability Protection.
- Set up SmartControls™ alerts for your credit card. This tool allows you to set up alerts and controls for your Tower Mastercard credit card. Monitor activity like foreign purchases or large transactions. To set up SmartControls, login to Home Banking and go to your Tower Mastercard account, then Account Services.
- Let us know before you go! If you are getting ready to travel, please contact us before your trip so we can help protect you against theft or unauthorized card use. See our travel tips for other ways to protect yourself.
- Report fraud or suspicious activity promptly. If your Tower debit or credit card is lost or stolen, or if you suspect fraudulent activity on your account, notify Tower immediately. Call 301-497-7000 or 866-56-TOWER. You can also send us a secure e-mail within Home Banking.
Educate yourself. Finally, it’s good to be on top of the latest fraud schemes. Tower makes it easy to educate yourself with fraud prevention and cybersecurity Financial Know-How articles. You can also check the Federal Trade Commission’s website often for new scam alerts.
Be assured that Tower places the highest importance on securing your accounts, including training all staff to recognize and combat fraud. We also continue to invest in banking technologies and regularly upgrade our systems with multifactor authentication and encrypted technology.