Why implement multi-factor authentication?
All banks and credit unions experience “phishing” and “pharming” scams. These involve imitation sites designed to dupe users into giving up their personal information, which leads to identity theft and fraud. Multi-factor authentication (Secure4U) is designed to detect these imposter sites, to prevent identity theft, and to minimize loss due to fraud. It’s also required for compliance with FFIEC online banking guidelines.
TDECU All-the-Time online banking is very secure. However, any Internet banking system is only as secure as the user. All banks and credit unions experience “phishing” and “pharming” scams. These scam artists hope users will respond to a fraudulent “look a like” website and give away their person information, allowing identity theft and fraud to take place.
