News & Information
Ipava State Bank has recently sent out an updated Terms and Conditions policy to deposit account customers. Please read this document as it outlines the terms and conditions of your accounts.
You may have recently seen news accounts to the effect that Target, the nationwide retailer, suffered a security breach of payment card data.
Early indications are that approximately 40 million credit and debit cards may have been compromised from November 27 to December 15, 2013. The compromised data originated from the magnetic stripe on the back of the card including:
It is important to note that this breach took place at Target and involved data that resides in their system. As such, the data was compromised through no fault of the cardholder or Ipava State Bank. Stolen data of this type is typically used to initiate fraudulent transactions over the internet or by manufacturing counterfeit cards intended to be used at the point of sale.
While security breaches have become more commonplace in the card industry, over the last few years, intrusions of this magnitude are highly unusual. The card industry maintains stringent standards for protecting and maintaining card data. However, despite these efforts, security breaches still occur and costs associated with the security of card data are skyrocketing.
Please report any unusual activity immediately. It is important to note that this compromise includes only limited information and does not include social security numbers.
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The next time you shop at participating online stores, enter the information requested to activate your card in order to complete your transaction. It only takes a moment, and then your card will have password protection whenever you shop online.
It's now even safer to shop online.
Once you activate your card, MasterCard SecureCode protects you at every participating online store-- so only you can use your card.
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