New Online Banking Security Updates

New online banking security features utilizing Multi-Factor Authentication (MFA) required by the Federal Financial Institutions Examination Council (FFIEC) will be implemented the week of June 23, 2008.

Setting Up Your MFA Preferences

• You will be required to select a new image and phrase. The image and phrase that you may have previously selected will go away and will be replaced by new ones. They will only display once during the log in process on the password screen (not on each screen as the image did previously).
• You will be asked whether or not you want the system to remember the computer you are currently using as the computer you will normally use to log on to Sharefax-Online, or in other words, create a cookie. (If you do not wish to do so, you will need to answer a security question each time you log on.)
• You will be prompted to set up security questions and answers. The security questions will replace the online keyboard security feature. These questions will be asked only if the system doesn’t recognize your computer.

Signing On After MFA Preferences are Set Up

Step 1: Enter account number & PIN
Step 2: Verify security image and phrase, then enter password
Step 3: If the system doesn’t recognize your computer, you will be required to answer a challenge question. If it does, you will move on

These new security features are being put in place to make your online banking experience as secure as possible. If you have any questions, please call us at (513) 753-2440 or .

Sharefax Credit Union uses the latest technology to protect your account information from exposure to unauthorized persons. Below are some of the components of this security system:

• An account number, PIN and password are required to access the system
• Multi-factor authentication to further verify your identity
• Virtual keyboard for password input to prevent keystroke logging
• 128-bit encryption encodes your transmissions when crossing the Internet
• After entering a PIN/Password incorrectly six times, access to an account is blocked
• SSL certificate issued by industry standard authority, Verisign

What is multi-factor authentication?
	Attacks against consumers’ personal financial data and accounts when conducting business online continue to rise. The Federal Financial Institutions Examination Council (FFIEC) has stated credit unions must implement “effective methods of authentication” stronger than single-factor authentication methods, such as passwords.

Our permanent multi factor authentication (MFA) solution provides the assignment of a unique Device ID to your computer or other device that will access our Sharefax-Online banking site, in addition to choosing a unique image and a phrase. If you log on from an unknown device, you will be asked to validate your identity by answering a challenge question, which you selected upon your initial log on to Sharefax-Online with MFA.

Our solution provides you with two-way authentication, assuring you that you have reached our Sharefax-Online authentic site as opposed to a “phished” or “spoof” site.

Click here to log into Sharefax-Online Banking and enroll for MFA now.

What is encryption?

Because there are billions of potential keys, it would take a hacker several lifetimes to come up with the exact key a specific transmission uses. Netscape estimates that the 40-bit level of encryption would take over 64-MIPS computer a year of dedicated processor time to break. Sharefax-Online 128-bit encryption would be exponentially more difficult to break.

Secure Sockets Layer (SSL) technology are cryptographic protocols that provide secure communication on the Internet for such things as web-browsing, e-mail, and other data transfer.

Every SSL Certificate is created for a particular server in a specific domain for a verified business entity. Like a passport or a driver’s license, an SSL Certificate is issued by a trusted authority, the Certificate Authority (CA). When the SSL handshake occurs, the browser requires authentication from the server. A customer sees the organization name when they click certain SSL trust marks (such as the VeriSign Secured™ Seal on Sharefax-Online).

VeriSign is the SSL Certificate provider of choice for over 93% of the Fortune 500 and the world’s 40 largest banks, businesses that know the most about Internet security.

A firewall is a hardware and/or software solution that restricts access from your internal network to the Internet and vice versa. You can think of it as a security gate; all traffic incoming and outgoing is stopped at this gate. Because it is "stopped" the firewall can make sure that the information is acceptable; in other words that it conforms to the security of the site. Sharefax Credit Union uses the latest firewall technology available.

Why does Sharefax-Online set cookies?

In order to better serve you and protect your account information, we use "cookies", nuggets of data that are stored on your hard drive as a file. We use cookies to verify that your computer is the computer that originally logged onto Sharefax-Online and that some other computer isn’t trying to impersonate your computer. Cookies are also necessary since they are used in the encryption algorithm. None of your personal or account information is stored in the cookies we use, only information necessary to maintain a secure connection.

Cookies do not compromise privacy. Their data is usually stored on your computer's hard drive as a very small file or folder called "cookies", and you can delete this file anytime if you choose. The cookies in Sharefax-Online are only valid for the current session and shortly become invalid. Finally, cookies created by one site will only work with that specific site. Site A, for example, cannot read cookies generated by Site B and then use that information for purposes for which it was not intended.

Still have questions?

If you should have additional questions or concerns please contact us at info@sharefax.org.

Links Disclaimer: Sharefax Credit Union has provided links to Internet sites maintained by third parties. Sharefax does not operate or control in any respect any information, products or services on these third-party sites. Important Reminder: We will never initiate a phone call, email, or a text asking you to update, validate, or provide us with your personal information. If you receive a questionable e-mail requesting personal information about your accounts that appears to be from Sharefax Credit Union, please contact us at (800) 733-1728 or (513) 753-2440.