What is Phishing? How to protect yourself against fraudulent email

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 As briefly mentioned in last weeks blog post Protecting Your Identity , phishing is an activity where fraudsters pose as a legitimate company in order to obtain financial or other confidential information from individuals.  If a scammer or fraudster gains access to your financial information, it leaves the door wide open for credit card and identity fraud. The most common type of phishing is through impersonation emails. It is trivially easy for a fraudster to impersonate a legitimate bank or organization. They can even make their “from” email address look like an official company. For example, say your financial institution is Trusted Bank of Canada, the fraudster could disguise their email as [email protected] The fraudster is trying to trick you by gaining your trust in the impersonated company, and by scaring you into thinking your account is at risk.

Here’s how it works. A fraudster will create an email that imitates a bank or financial institution. The email we likely contain a link(s) and information stating that your bank account has been compromised. It will then tell you to ‘click on the link’ in order to confirm your account information and protect yourself from fraud. DO NOT CLICK THE LINK. Clicking the link will likely spread malware throughout your computer, and/or direct you to a website asking for your credit card or personal information. Once they have this information, the fraudsters can pursue identity, and/or credit card fraud. Anyone can be at risk of becoming a victim of phishing. Here are some tips for protecting yourself.
  • Be cautious if you have received an unsolicited email from a bank or company. Especially if they are requesting urgent information.
  • Legitimate companies will never request personal information,usernames,or passwords via email. 
  • Never click the link.Do not click on a link in an email to log in to a site; always visit the site by typing the URL into your browser or doing a google search
  • If you are ever unsure of a suspicious email, contact the company directly to inquire. 
Source: http://dictionary.reference.com/browse/phishing

How to Efficiently Verify Your Account

Upgrading your SolidTrust Pay account to Card Verified, Standard Verified, or Bank Verified has many benefits.

Our CREDIT CARD VERIFIED status allows members to deposit funds into AND withdraw funds out of, their account via credit & debit cards entered into their profile.

STANDARD VERIFIED is an Upgraded Status allowing unlimited transactions and higher limits than ACTIVE or CREDIT CARD VERIFIED members.

BANK VERIFIED status is an Elite account level allowing members to deposit and withdraw via all of our options, including their bank accounts,
credit or debit cards, and SolidTrust Debit Cards. Bank Verified Members enjoy the highest limits!

In order to verify your account in the easiest and quickest way possible, it is important to make sure you upload the proper documents. Sending us proper documents eliminates the need for us to email you asking for more documents.  This will in turn prevent you from having to wait longer for us to re-review the correct documents once they have been uploaded.

Please note that if there are any discrepancies or security concerns regarding your documents, verification staff hold the right to request additional documentation such as notarized documents, additional bills, or a personal photo to verify the photo on your Government ID.

To verify your account, log in to SolidTrust Pay, go to My AccountVerify Account —  Then click CARD VERIFIED, STANDARD VERIFIED or BANK VERIFIED.

Here is a list of the steps/documents required for each Verification Level.

Credit Card Verified:

  •  Add your card information in the ‘My Banks &Cards’ Area.
  • Complete the instant Card Authorization scan (appears after entering your card information)
  • Small incoming deposit from your card via ‘My Money/Deposit Money’ area.

Standard Verified:

Go to My Account – Documents—Upload documents and complete the following sections.

ID Verification: You must upload a Government Issued photo ID (please note that some countries require a passport). Please ensure your ID has the following:

  •  A photo
  •  Your name
  • Your date of birth
  • A valid expiry date
  • Your signature

PASSPORT EXAMPLE

Address Verification: To verify your address we require an unaltered original document that has been mailed or e-mailed to you. This can be any type of bill or statement that has your name, residential address (cannot verify a PO BOX), and a recent date (no older than six months). This could be a phone bill, utility bill, insurance bill, bank statement, medical bill, etc.

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Bank Verified:

For bank verification we require that you upload all of the documents for Standard verification, in addition to bank documents. Go to My Banks & Cards – View Bank Accounts. From here can add your bank account to your SolidTrust Pay profile, as well as get the required forms needed for Bank Verification.

USA Members:

Once you are Standard Verified, you may first attempt the automated Instant Bank Verification process under the “My banks and Cards” area of your profile. First, you will want to add your bank account to your profile by selecting “Add new bank account” from the drop down menu. Once the bank account details have been added, you may follow the prompts to complete the instant bank verification. You may come back to it later by selecting “view bank accounts” and clicking the “verify” button beside the US bank account listed. If you pass this, no further documents are required (at this time). If you do not pass this then you will be required to submit the following information:

  • A Completed ACH form. Please read the form carefully and ensure it is fully completed. The ACH must have a hand written signature as we cannot accept digitally signed forms.
  • A voided Cheque or direct deposit form from your bank including your name, current address matching your profile, account number, and routing number.

 Canadian Members:

  • A Completed EFT form. Please read this form carefully and ensure it is fully completed. The EFT must have a hand written signature as we cannot accept digitally signed forms.
  • A voided Cheque or direct deposit form from your bank including your name, current address matching your profile, account number, transit number, and institution number.

For international members:

please submit a bank statement or letter that includes your name, a recent date, current address that matches your profile, account number (IBAN where applicable) and SWIFT/BIC code.

Helpful Hints 

  • Before uploading any of your documents, carefully review the requirements and ensure your documents include all of the required information.
  • Do not upload the same document more than once. This will only slow down the verification process.

If you have any other questions or concernes, please visit our Help Center.