As online fraudsters grow increasingly more sophisticated, reports of cybersecurity attacks and fraud are on the rise. To protect our customers, Farmers-Merchants Bank is introducing a variety of security enhancements to monitor, detect, and prevent fraudulent activity within online banking.
New Enhancements Beginning Monday, April 5
Fraud Anomaly Detection
Fraud anomaly detection provides real-time monitoring to highlight abnormal behaviors by comparing all current activities against historical transactions. Using behavior analytics, customers will receive immediate notification of suspicious behavior that is atypical of normal patterns and trends.
Out-of-band authentication provides an additional verification layer to validate and/or acknowledge online banking access. By requiring the entry of a unique PIN sent to your mobile device, fraud is prevented even if an unauthorized user learns your online banking credentials. It also ensures that you are notified if an unauthorized user attempts to access your account information or complete transactions without your knowledge. We will apply this new authentication at login beginning April 5. You will be asked to enter your mobile device information to deliver a unique PIN (via mobile push, text, or phone call). This authentication will occur every 30 days.
Password Security Check
Our password security check feature notifies customers if your online banking password has appeared in data breaches at other companies. This is not a notification of a security incident at Farmers-Merchants Bank, however the fact that the password appears elsewhere puts your account at risk. When this occurs, you will be presented with the option to ‘Update Your Password’ or continue without changing it.
More Good News…
QuickBooks® Direct Connect
Reconciliation of your accounts has never been easier. Direct Connect provides 2-way connectivity between Farmers-Merchants Bank and your QuickBooks software. The Direct Connect portal allows you to access your account information, pay bills and transfer money from within QuickBooks. To get started, log in to QuickBooks, search for Farmers-Merchants Bank of Illinois and connect your accounts.
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