Technology has improved the way we do business, but it has also made it easier for individuals to create realistic counterfeit and fictitious checks as well as false identification that can be used to defraud financial institutions and businesses. As a result, check forgeries, identity thefts and other types of fraud are on the rise nationwide and can be disruptive and costly.
At Gold Bastion Bancorp and Capital Trust, the security of client information is extremely important. We endeavor to guard against unauthorized access to this information and we are committed to helping clients take appropriate action to prevent fraud.
The unauthorized use of a checking, savings or money market account. This generally happens when checks, ATM or debit cards are stolen, copied, altered or counterfeited and used to transfer money, withdraw cash or pay for merchandise or services that the actual account holder did not authorize.
Are when criminals using stolen and counterfeit personal identification take over an account to remove funds before the original owner or bank can detect the unauthorized activity.
Phishing is the name given to the practice of sending emails at random purporting to come from a genuine company operating on the Internet (typically a bank), in an attempt to trick individuals into disclosing information at a bogus website operated by fraudsters.
Identity theft involves acquiring key pieces of someone's identifying information, such as name, address, date of birth, Social Security Number and mother's maiden name, in order to impersonate them. This information enables the identity thief to commit numerous forms of fraud which include, but are not limited to, taking over the victim's financial accounts, opening new bank accounts, purchasing automobiles, boats, applying for loans, credit cards and social security benefits, renting apartments, and establishing services with utilities and phone companies. Gold Bastion Bancorp has developed an Identity Theft Tool Kit, which contains what we believe to be sound guidance from law enforcement officials as to what a person or business should do to mitigate the risk or consequences of identity theft.
Business E-mail Compromise, or BEC, is a sophisticated fraud scheme in which fraudsters compromise a legitimate e-mail address through social engineering or computer intrusion, and then use this e-mail to conduct unauthorized transfers.