January 26, 2010 3:30
Welcome to our new and improved website! We designed these features with you in mind:
- Online banking box accessible from every page of our site.
- Friendly navigation. Jump from section to section of our site without having to retrace your steps.
- Quick Links to your top pages.
- News, Alerts and Announcements on the homepage. Stay in touch with the latest news from us and the Ann Arbor Chronicle.
- Social Media. Become our fan on Facebook and follow us on Twitter to stay connected to the latest financial tips, community events, and banking news.
If you have any comments, we'd love to hear from you. Give us a call at 734-662-1600 or email us.
January 24, 2010 8:43
Call it hibernating capital.
A growing effort to convince wealthy individuals to invest directly in local startup companies is the objective of some leaders in Ann Arbor’s entrepreneurial community.
Michigan has 157,642 households with liquid assets worth at least $1 million, according to Phoenix Affluent Marketing Service. That means Michigan has the 10th most millionaires in the country - ahead of Massachusetts, Maryland, Arizona, Georgia, North Carolina and 35 other states.
Efforts to reinvigorate a 6-year-old group called the Ann Arbor Angels is a direct response to financial need among the area’s startup technology companies, officials said.
The investment group came together for the first time in 2004 but essentially fizzled out after a few years.
But Michael Cole, vice president of the Bank of Ann Arbor’s technology industry group, has mobilized to restart the group and plans to hold 3 to 4 meetings in 2010. The goal is to attract wealthy private citizens to invest in small local tech companies, generating profits, jobs and economic activity for the Ann Arbor region.
Read the full article on AnnArbor.com.
January 20, 2010 1:22
The IC3 has been alerted to an increase in employment schemes pertaining to mystery/secret shopper positions. Many retail and service corporations hire evaluators to perform secret or random checks on themselves or their competitors, and fraudsters are capitalizing on this employment opportunity. Click here to read more.
January 15, 2010 1:28
Business Online Banking users: Important information regarding Corporate Account Takeovers, a new cybercrime threat. Please read this letter for ways to protect your business.
Corporate Account Takeovers, a serious cyber crime on the rise. (January 15, 2010)
Recently there have been multiple articles released on Corporate Online Banking and Account Takeovers. Warnings are being issued by the FBI, American Bankers Association and NACHA the Electronic Payments Association.
NACHA has provided the following description of a corporate account takeover.
"Corporate account takeover" is when cyber-thieves gain control of a business' bank account by stealing the business' valid online banking credentials. Although there are several methods being employed to steal credentials, the most prevalent involves malware that infects a business' computer workstations and laptops.
A business can become infected with malware via infected documents attached to an e-mail or a link contained within an e-mail that connects to an infected web site. In addition, malware can be downloaded to users' workstations and laptops by visiting legitimate websites - especially social networking sites - and clicking on the documents, videos or photos posted there. This malware can also spread across a business' internal network. Bank of Ann Arbor aids in the protection of your financial information through online banking by:
- Employment of a multi-factor authentication at initial sign in;
- Offering the ability to initiate payments under dual control; and
- Established maximum limits related to customer-initiated ACH transactions.
The FBI, American Bankers Association and NACHA strongly recommend the following:
- Using a dedicated computer for online banking transactions rather than using the same computer for e-mail and searching the Internet.
- Initiate ACH and wire payments under dual control-one person authorizes the creation of the payment file; a second person authorizes the release of the file.
- Ensure that all anti-virus and security software are robust and up-to-date.
- Monitor bank accounts daily.
- Notifying your bank when an employee separates from your company to ensure online banking access is immediately terminated.
We urge you to consider the recommendations noted as well as review your current online banking practices to ensure you and your staff are making every effort to protect financial information and online banking access.
We value your business and feel protection of client information warrants sharing important information with you.
Please feel free to contact Patti Judson, Senior Vice President, Branch Administration, Operations & Cash Management at (734)327-1125 if you have any questions regarding this information.