9/9/21 1:35 PM

Protecting your finances from cyber threats

Man looking at mobile device

Hacking may be a clear and present danger for all of us, but with your efforts and Santander PROTECHTION, you can rest assured that your Santander High Yield Savings account is secure from the risks of cyber fraud.

​Cyber threats are all too real and all too troubling. The Colonial Pipeline hack is just one of the recent ransomware attacks that have targeted companies throughout the U.S. In that case, the shutdown of a vital pipeline for five days resulted in panic buying and gas shortages throughout the mid-Atlantic and Northeastern part of the country.

Yet, as troubling as these big, headline-getting cyber attacks are, it’s the everyday threats to individuals that are the most concerning. For every high-profile intrusion you read about, thousands more are put at risk. These attacks can range from having your computer data compromised to hackers gaining illegal access to your personal accounts. And the results can be devastating.

In light of all this, we’re taking this opportunity to highlight our PROTECHTION digital security suite, our comprehensive security protocols, as well as what you can do to make sure your information and finances are fully protected.

Protecting your account begins with encoding your data so that cyber criminals can’t access your financial information. PROTECHTION, our proprietary digital security tool, uses the gold standard in data encryption, applying a secure socket layer, or “SSL” encryption, on all Online Banking and Mobile Banking sessions.

SSL works through the use of a process called “public key cryptography.” This system is based on the application of two corresponding keys. One is a public key used for encoding your information and the other is a private key used for decoding it.

In other words, when you request information about your Santander® High Yield Savings account through Online Banking or the Mobile Banking app, the system encodes the information into a public key, which can only be unencoded by your private key. And, not to get too technical, but these keys are based on 2048-bit encryption, which would take a hacker using a typical laptop computer 300 trillion years to break.

Biometric authentication
As an added layer of security, PROTECHTION also uses biometric authentication when you’re accessing your account with a mobile device. On iOS devices, this technology is known as Touch ID® and Face ID®, while on Android devices it’s known as Fingerprint Authentication. These encryption methods further ensure that only you can access your accounts, even if your mobile device is lost or stolen.

If you have not activated your biometric identification features on your mobile device, take the time to do so today. Then when you next log in to the Mobile Banking app, go to the app settings and enable the respective biometric login feature used by your phone or tablet. It’s easy to do and will give you much needed, added security.

Protecting yourself
There are additional steps you should always take to protect yourself. This is because as good as any online account’s security may be, if you fall victim to a phishing attack and reveal your username and password by logging in to a fraudulent website, hackers can use this information and attempt to penetrate the real site’s defenses.

To protect yourself from these situations, take the following advice to heart:

  • Keep your passwords in a secure location.
  • Change your passwords every two months.
  • Never reuse old passwords.
  • Avoid clicking on links in emails or texts unless you can verify the sender.
  • Look for the SSL “lock icon” when accessing any secure website.
  • Report any suspicious activity immediately.

Respond promptly to notifications and fraud alerts
We also encourage you to activate your account notifications through either Online Banking or your Mobile Banking App. See details on the account setup page. This will let you choose how you wish to receive our alerts — either by email, call, or text.

Once activated, you will receive transaction notifications when funds are withdrawn from your Santander® High Yield Savings account. If a cybercriminal manages to learn your password and begins to transfer money from your account, you will be made aware of the activity, allowing you time to stop the transaction before it’s completed.

$0 fraud liability
As long as you keep your passwords safe and change them periodically, you can thwart many of the more common types of cyber attacks. But if for some reason you find that an unauthorized transaction has been made, just notify us immediately of the intrusion and Santander guarantees that your money is protected against online fraud or losses and that your bills will be paid on time. This is our $0 fraud liability policy and it’s yet another layer of security, assuring you that your funds are completely safe when you bank online with us.

Fast fraud support
Finally, if for any reason you experience what you believe to be fraudulent activity, we provide access to our team of security professionals. That means when you need help, Santander will be ready to respond with active measures to protect your account and ensure your money is safe. Simply call us at 877-768-2265.

Hacking may be a clear and present danger for all of us, but with your efforts and Santander PROTECHTION, you can rest assured that your Santander® High Yield Savings account is secure from the risks of cyber fraud.

This article is intended for informational purposes only. Readers should consult their own financial advisers, attorneys, or other tax advisors regarding any financial or tax strategies mentioned in this article.


 Equal Housing Lender. Santander Bank, N.A. is a Member FDIC and a wholly owned subsidiary of Banco Santander, S.A. ©2021Santander Bank, N.A. All rights reserved. Santander, Santander Bank, and the Flame Logo are trademarks of Banco Santander, S.A. or its subsidiaries in the United States or other countries. All other trademarks are the property of their respective owners.