Bank of America Launches Online Security Features in Texas and Four Other States to Help Prevent Fraud And Identity Theft

Bank of America Launches Online Security Features in Texas and Four Other States to Help Prevent Fraud And Identity Theft

		Bank of America's new online security service, called SiteKey(TM), helps prevent fraud and identity theft. The bank's 13.2 million online banking customers can pick an image, phrase and challenge questions to protect their accounts and make sure they're not at a phony Web site. (PRNewsFoto) CHARLOTTE, NC USA

Industry-leading online security service provided for free to protect accounts and identify fraudulent Web sites CHARLOTTE, N.C., Aug. 11 /PRNewswire/ -- Bank of America's online customers in Texas, Arizona, Nevada, Oregon and New Mexico have a new way to help prevent fraud and identity theft with the launch this week of an industry-leading protection service with their Online Banking. (Photo: http://www.newscom.com/cgi-bin/prnh/20050526/CLTH009) The new service, called SiteKey(TM), is free. Customers pick one of thousands of images, write a brief phrase and select three challenge questions. The customer and the bank can pass that information securely back and forth to confirm each other's identity. Using SiteKey is like getting a safe deposit box that takes two keys to open. Before the customer and the bank agree to open the box together, they confirm each other's identity. Bank of America, which has the most online banking customers in the country, is the first major financial services company to provide this added level of security. The service was announced in May and is being rolled out across the country throughout this year. "SiteKey helps you know it's us and we know it's you," said Sanjay Gupta, e-Commerce executive. "It's a free way to increase your online security, and it's easy because you don't need extra hardware or other equipment." Signing up for SiteKey takes just a few minutes. The image, personal message and challenge questions work together to help: * Confirm the Web site's validity. When customers log in to Online Banking at http://www.bankofamerica.com, they can click on the SiteKey button to see their secret image and phrase. If the image and phrase don't appear, the customer could be at a fraudulent site. This capability targets a fraud called spoofing, and will help ensure customers are not fooled by fake versions of bankofamerica.com. * Protect accounts. Someone trying to access an account from an unrecognized computer must answer a challenge question correctly. So even if a customer's ID and passcode have been stolen through spyware or a phony Web site, the thief still would have to answer a challenge question to get access to the account. SiteKey is now available in Arizona, Arkansas, Florida, Georgia, Illinois, Iowa, Kansas, Maryland, Missouri, Nevada, New Mexico, North Carolina, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Virginia and Washington, D.C. SiteKey is the newest way to use online banking to help prevent identity theft and fraud. Customers also can receive bills, pay bills, as well as view checks and statements online -- eliminating risks associated with sending items through the mail. Customers who use online banking can detect fraud earlier by reviewing their account activity regularly, rather than waiting for a monthly statement in the mail. Bank of America offers a guarantee that protects customers against unauthorized transactions. Here are more steps consumers can take to prevent fraud: * Use safe computer behavior. Install protection such as firewalls, anti-virus software and anti-spyware software. Keep the protection and browsers updated. Don't download materials from unknown senders. Use unique passwords that are hard to guess and change them often. * Confirm the validity of all requests for sensitive personal, financial or account information, particularly if they are made with an urgent or threatening tone. Consumers who get the request through e-mail should open a new browser window and type in the referenced Web address rather than clicking on links provided within the e-mail. * Monitor accounts, credit reports and credit scores. Notify banks and credit agencies immediately of any unauthorized transactions. * Take advantage of free bank services, such as direct deposit. Sign up for Verified by Visa, which allows consumers to pick a password that is necessary for online purchases with a credit card and Check Card. * Do not share your IDs, passcodes or ATM passwords with anyone. Bank of America is the No.1 online banking site, with more than 13.8 million subscribers and 6.7 million people who pay bills online. For more information about safety and security, go to http://www.bankofamerica.com. About Online Banking Bank of America is a leading provider of online financial services, and its online site, http://www.bankofamerica.com, has received widespread recognition. The site is among the top 35 of all U.S.-based Internet properties in terms of unique visitors monthly, and No. 1 among business and finance sites, according to comScore Media Metrix. Bank of America ranked No.1 in Javelin Strategy & Research's Identity Fraud Safety Scorecard in November 2004. In the spring of 2005, the site was ranked among the Forbes Best of the Web. In the summer of 2004, The Customer Respect Group ranked Bank of America No. 1 among commercial banks for the way it treats customers online, and Keynote ranked bankofamerica.com among the leaders in experience for customers and prospective customers. The Gomez Scorecard ranked the Small Business Web site No. 1 in the Single-Owner Home-Operated (SOHO)/Micro category. comScore Networks, Inc., called Bank of America "the clear leader" in the rate of adoption of online bill payment and the leader of the industry based on overall number of active online customers.