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What Is Corporate Account Takeover?

Corporate Account Takeover is an evolving electronic crime typically involving the exploitation of businesses of all sizes, especially those with limited to no computer safeguards and minimal or no disbursement controls for use with their bank’s online business banking system. These businesses are vulnerable to theft when cyber thieves gain access to its computer system to steal confidential banking information in order to impersonate the business and send unauthorized wire and ACH transactions to accounts controlled by the thieves. Municipalities, school districts, large non-profit organizations, corporate businesses, and any customers that perform electronic transfers are potential targets. Losses from this form of cyber-crime range from the tens of thousands to the millions with the majority of these thefts not fully recovered. These thefts have affected both large and small banks.

This type of cyber-crime is a technologically advanced form of electronic theft. Malicious software, which is available over the Internet, automates many elements of the crime including circumventing one time passwords, authentication tokens, and other forms of multi-factor authentication. Customer awareness of online threats and education about common account takeover methods are helpful measures to protect against these threats. However, due to the dependence of banks on sound computer and disbursement controls of its customers, there is no single measure to stop these thefts entirely. Multiple controls or a “layered security” approach is required.

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About The Texas Bankers Electronic Crimes Task Force

The Texas Bankers Electronic Crimes Task Force was formed in April 2010 by the Texas Banking Commissioner, Charles G. Cooper, in cooperation with the United States Secret Service to develop recommended practices to mitigate the risks of electronic crimes such as Corporate Account Takeover.

The Task Force consists of senior officers with technology oversight from a diverse group of banks in terms of size, complexity, and market environment; and representatives from Texas Bankers Association, Independent Bankers Association of Texas, and SWACHA. The Department of Banking’s Chief Information Technology Security Examiner serves as a liaison member.

The initial focus of the Task Force was on the growing risk of Corporate Account Takeovers. Many of the task force member banks have had customers whose computer systems were compromised and suffered from corporate account takeover. They drew on that experience, and the experience of the United States Secret Service (North Texas District Office) to develop a set of processes and controls for a strong risk management program. The Task Force also contacted IT Security and Audit firms that operate in Texas, who provided additional valuable recommendations.

The Task Force supplemented the set of processes and controls with a list of best practices to assist financial institutions with identification of risks and the development of meaningful risk management measures. Since the Task Force included both small and large bank representatives, the recommendations are broad enough to accommodate the unique needs of every bank and its customers utilizing online banking services.

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HomeBank Texas

HomeBank Texas is dedicated to making your Online Banking Experience as safe as possible. Our vendor is constantly making changes to enhance security such as requiring that passwords get changed regularly; requiring passwords contain both alpha and numeric characters; verifying that your email address is correct; requiring the answer to a secret question if bill pay is over a certain amount; and the most recent enhancement – utilizing a separate page for ID and Password and using a watermark picture to help identify your pages.

While our vendor’s constant enhancements are crucial, we need our customers understanding and cooperation in doing their part to protect their identity. Here are some ways you can help: (1) make sure you have a good anti-virus program on your computer and keep the updates current; (2) if your computer is not password protected at start up, strongly consider putting this easy step in place; (3) change your passwords often; (4) do not share your passwords; (5) if you must write your passwords down keep them in a safe place away from easy access around your computer; (6) avoid opening attachments contained in an email if you are not sure who the email is from; (7) if you know your computer has been attacked with a virus PLEASE contact the bank immediately so we can change both your ID and Password and begin monitoring your account for activity. If you have any questions concerning this topic give us a call.

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What types of checking and savings accounts does HomeBank Texas offer?

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What types of loans does HomeBank Texas offer for consumers?

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What type of loans does HomeBank Texas offer for businesses?

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Does HomeBank Texas offer Certificate of Deposits and Individual Retirement Accounts?

Yes, both Certificate of Deposits and IRA's are offered. A New Accounts Representative will gladly assist you with any further questions you may have.

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Other Products Offered by HomeBank Texas

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What if I am away from home and do not have access to a computer?

HomeBank Texas will continue to offer their 24 Hour Account Information telephone number as a FREE service to their customers. You may call 972-287-9191 to hear information concerning debits and credits on your accounts. Follow the prompts to get your account set up. This is not a toll free number.

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What is Online Banking

Online Banking allows customers of HomeBank Texas secure and convenient access to their accounts using the Internet, 24 hours a day, 7 days a week.

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How much does Online Banking cost?

Online Banking is a Free service for HomeBank Texas customers.

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How can I get started using Online Banking and Bill Pay?

As a customer of HomeBank Texas, you can start Online Banking by completing an Online Banking application. Please visit one of our convenient locations to obtain additional information and to complete the necessary Online Banking Forms.

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How do I use Online Banking?

You will need to enter your login identification and password. You will then be shown a list of your accounts that you have chosen to connect to Online Banking and the balance in each. If you want more detail, just select the function. Any questions you may have can be answered by a Customer Service Representative.

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What types of transactions can I do with Online Banking?

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How can I protect my Online Banking Security

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How much history can I access Online?

You will be able to access and print your current transactions as well as 45 days of your previous history. The history will begin to build from the date that you sign up for Online Banking.

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What happens if I forget my ID or PIN?

Your PIN number is the most important element for the security of your information.

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Why do I keep getting automatically logged off your site?

After a period of inactivity, the system will automatically log you off and force you to re-enter your User ID and Password. This is a precaution which aides in protecting your account information.

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What is Online Bill Pay?

Bill Pay is a convenient way for HomeBank Texas customers to pay their bills online 24 hours a day, 7 days a week, saving you time, money and the worry of missing a due date.

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How much does Online Bill Pay cost?

Bill Pay is a Free service to HomeBank Texas customers.

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Who can I pay through HomeBank Texas Online Bill Pay?

You can pay anyone in the United States from the next door neighbor, to the utility company, to the bank, and even a child in college across the country.

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How late in the day can I enter, edit, or delete a payment?

The addition of a new scheduled payment must be on the system by 12:00 PM CST (Monday thru Friday) the day before the scheduled payment date.
The editing and/or deletion of an already scheduled payment must be performed on the system by 12:00 PM CST (Monday thru Friday) the day before the scheduled payment date.

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What happens if my scheduled payment falls over the weekend or a holiday?

Scheduled payments that fall over a weekend or holiday will be paid on the Friday before the weekend, or the last working day before the holiday.

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How long is history retained in the View Payment History section?

Payment History for active and deleted payees is retained and viewable 18 months.

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When will the money be taken out of my account?

For an ELECTRONIC PAYMENT, funds are debited the same day that the payment is sent, providing it is sent by 12:00 Noon CST. Electronic payments submitted after 12:00 Noon CST are debited the next day during bill pay processing.

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What if I do not have enough money in my acount?

CHECK payments are handled in the same manner as a check written out of your checkbook against an insufficient balance. Current Non-Sufficient Fees will apply.

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Can I edit Vendor Addresses?

No. Once an address is entered it stays with that payee. If you need to change an address it will be necessary to delete and recreate the payee using the new address in order for it to sync up correctly.

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What payment frequencies are available?

You can set up payments in any of the following frequencies:

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Will the memo field that I fill out when setting up a payment be passed on to the payee?

Yes, your memo will appear on paper check bill payments. The memo field is 40 characters long. Any amount over 40 characters will be cut off. Memo field information will not appear on electronic payments.

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How far in advance should I set up a payment to insure it is paid on time?

For an ELECTRONIC PAYMENT, allow 3 business days from when the payment is submitted.
For a CHECK payment, the check will be in the mail on the same day the payment is submitted if it is submitted before the 2 a.m. processing. If the check payment is entered before 12:00 Noon CST, the check will be mailed the following morning. Allow 5 to 7 business days for a check payment.

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What are the minimum and maximum payment amounts?

Electronic payments are validated against the available account balance prior to processing, and check payments settle against your account like any other check, therefore, there is no dollar limitation on payments made through PowerPay. You are limited only by the amount of funds in your account.

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Can I have multiple payments to the same payee on the same day?

At this time, there is nothing that checks for multiple payments for the same amounts going to the same vendor on the same day.

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Can I stop payment on a scheduled Bill Pay?

Once an electronic bill payment has been debited from your account, you CANNOT order a stop payment. If you no longer want the Payee to be paid you must delete the record yourself. YOU ARE responsible for monitoring your Bill Pay Schedules for accuracy.

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On the Payment History Page, what does the "Status" field indicate?

Status Values and Definitions:

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When and how are the payments processed?

Payments submitted, recurring or one time, before 2:00 AM CST Monday-Friday will be processed at 2:00 AM CST. Payments submitted between 2:00 AM CST and Noon CST will be processed at 12 Noon CST. Pyament received after 12:00 Noon CST on Monday-Thursday will be processed the next business day. Payments received after 12:00 Noon CST on Friday will be processed the next business day. All payments scheduled to go on a weekend will be processed on the processing day before the weekend. All payments scheduled to go on a holiday will be processed the day before that date. Payments entered on the weekend, recurring or one time, will be processed on the next business day.

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How do I know if a payee is electronic or check?

Once you have set up the payee, then you can look at the PAYEE LIST screen and you will see a field that will tell you if the payee is electronic or check.

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When can you edit the dollar amount on a scheduled recurring payment?

You may edit the dollar amount the next business day after the scheduled payment date.

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Can I postdate recurring payments?

If a monthly recurring payment is set up to be paid on the 15th and the current date is November 12th, a payment will be scheduled for the month of November and set up to occur the 15th of every month until the end date is reached or deleted. However, if the payment is set up to be paid on the 15th and the current date is November 16th, the first payment will occur on December 15th.

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Can I postdate a single payment?

Yes, just set the payment date for a valid future date.

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