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Debit card fraud advisory

Posted on Friday, December 2, 2022 in Articles

First National Bank is aware that a number of its customers have become victims of a debit card fraud scheme. We continue to work with our debit card provider to mitigate and stop the fraudulent transactions. We have been informed that this issue has impacted a large number of banks across the nation.

Your data and funds are protected

It’s important to note that First National Bank’s firewalls have not been penetrated and no personal customer information has been accessed.

When fraud is reported, customers will receive refunds for the fraudulent transactions and new debit cards will be issued.

As soon as we became aware that the scheme was impacting our customers, First National Bank’s fraud mitigation team, customer service team, and relationship bankers went into immediate action. We are monitoring accounts and, in many cases, proactively deactivating debit cards that have fraudulent activity.    

What is the scheme and how is it happening?

The fraudulent transactions have all been “Card-Not-Present” transactions. A card-not-present transaction occurs when neither the cardholder nor the debit card is physically present at the time of the transaction. Perpetrators are using a high-speed computer(s) to make repeated attempts using a trial-and-error method to identify valid debit card numbers.

Be vigilant 

The transactions thus far have been relatively small dollar amounts, so you may not immediately notice a transaction on your account. Therefore, we are encouraging all customers to remain vigilant and look at their accounts every day. If you see something suspicious or receive a text alert regarding a suspicious transaction, please contact the bank as soon as possible.   

Report suspicious activity

If you are a First National Bank customer and want to report a lost or stolen card or fraudulent activity:

  • Call First National Bank at 515-232-5561, during regular business hours.
  • During nonbusiness hours, call 800-472-3272.
  • You can also report suspected fraud by completing the online Transaction Dispute form.
  • You can visit any bank location.

Unfortunately, we are experiencing unusually high call volume, so you are welcome to stop by the bank or complete the online form, if that is more convenient for you.

Sorry for the inconvenience

We sincerely regret the inconvenience these fraudsters are causing customers and appreciate your patience as we continue to address the matter.

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