STCU has added another security layer to Premium BillPay called FraudNet. FraudNet works behind the scenes to help prevent potential bill payment fraud or suspicious activity.
The system reviews your pending payments and compares them to your bill payment patterns, as well as current fraud trends. This information will be updated as your payments change over time. If the system detects a variation in payment patterns, it flags it as possible fraud and a representative will contact you.
What is considered suspicious activity?
With each new advance in security technology we implement, perpetrators of fraud seem to use still more sophisticated techniques to overcome them. Were any of those techniques ever successful, unauthorized access to your account might be gained, and BillPay might become the vehicle to move money out of your account and straight to multiple mailboxes of the wrongdoer, spread out across the United States. With FraudNet, however, these unexpected new payments would have been immediately classified as suspicious activity, a call from our fraud representatives would have confirmed the problem, and the payments could be stopped with time to spare. So even if the day comes when passwords and digital certificates don't provide protection enough, FraudNet will step in to save the day.
One more important case to consider - let's say you accidentally put the decimal in the wrong place for your mortgage bill. Instead of typing $1150.00, you type $11,500.00. Oh no! This would also be considered suspicious activity and you would receive a call from a fraud representative, catching the error before calamity could strike.
Correct information is imperative.
You may receive a call from a representative to confirm that your payment is valid if something on your account looks suspicious. Therefore, it's imperative that STCU has your correct information on file. To update your information go to the "My Profile" section of your BillPay account and select "Update personal information."
If you receive a call, your name and address will be verified but you will NOT be asked for your Social Security number. Remember: When STCU initiates contact via email or phone, we will never ask for your Social Security number or any other personal information. If the payment in question is found to be fraudulent or incorrect, the payment will not be processed.
Please take the time to talk to our experienced fraud representatives. Together we can help prevent fraud.
