Keeping your financial information secure is a top priority at Charter Bank. We have rigorous security measures in place and offer suggestions how to keep your financial information secure.
Identity Theft
Identity theft occurs when a criminal obtains information about the victim such as social security number, account numbers, or other sensitive information. The criminal then can open accounts or credit cards in the victim's name, or access existing accounts owned by the victim.
Charter Bank maintains stringent policies and procedures to ensure that all information you share with us remains confidential. See our Privacy Policy.
Learn about the many precautions consumers can take to secure their financial information.
Phishing
The term "phishing" (as in "fishing" for confidential information) refers to email scams designed to fool recipients into divulging personal data. Phishing email messages usually appear to originate from a financial institution, government agency, popular online business or other entity and often include logos or trademarks to make them seem authentic.
The email message often sounds urgent. It typically instructs the consumer to immediately click on a link for reasons such as:
- "we need to verify your identity for security purposes"
- "your account has been suspended"
- "follow the link below to reactivate your account"
- "try our new features log in immediately"
- "register for a free trial and you'll receive money-saving coupons"
- "we have reasons to believe that your account was used by a third party without your authorization"
In phishing scams, the link provided goes to a phony Web site, one not associated in any way with the legitimate source it appears to come from. It can be difficult to detect if a Web site is fake. In some phishing attacks, the address bar at the top of the Web browser is replaced with an authentic-looking replica that replaces the real address bar. To the consumer, it can appear as though they're visiting a legitimate Web site.
Once on the phony Web site, the consumer may be asked to provide sensitive information such as Social Security number, account numbers, passwords, or other information. When the consumer complies, those perpetrating the fraud can begin to access consumer accounts or assume the person's identity.
Protect Yourself Against Phishing Scams
Be suspicious of any email messages with urgent requests for personal financial information and do not click on links in those messages.
Charter Bank does not send email messages to clients requesting personal information or verification of such information and neither would any legitimate bank, government agency, or other business. Do not respond to the message or click on any links provided in it.
If you're unsure whether an email message you receive is legitimate, call the company or log onto their Web site directly (no links!) by typing the Web address in your browser. Then, once logged in, make sure you're on a secure Web server.
Again, Charter Bank will never ask you for sensitive account information in an email message. If you have any questions related to a communication you receive from Charter Bank, please don't hesitate to check it out with your Relationship Manager.
Check 21
The Check Clearing for the 21st Century Act, or "Check 21" is a Federal law enacted in 2004 that allows banks to take a picture of your check and process it electronically, rather than transporting it physically by airplane, train, or truck. The image can then be converted into a legally-accepted substitute paper check, if needed.
Designed to make check processing and payments more efficient, Check 21 will save banks up to an estimated $2 billion per year in transportation and processing costs. Check 21 will also enable checks to clear faster and reduce check fraud.
Although the law doesn't require banks to convert to electronic check clearing, it does require them to accept a substitute paper check in lieu of the original. Charter Bank is analyzing ways to take advantage of the new legislation through the installation of imaging equipment in the business client's office.
Substitute checks are the legal equivalent of an original check. Substitute checks are accepted as proof of payment by the IRS, by local, state and federal branches of the government, and by businesses throughout the country.
The information published here was compiled using information from the American Bankers Association | 
