11/22/2022: Providing Greater Peace of Mind with .BANK
In a World Full of .COMs, You’re the Reason We Chose to be a .BANK.
Have you noticed that State Bank changed its web and email domain to end in ‘.BANK’? You may be surprised to learn the switch wasn’t a clever marketing strategy but rather a decision to provide you a greater level of digital security.
According to the American Bankers Association (ABA), banking has remained one of the most phished industries for more than a decade. Publicly available, unrestricted, and inexpensive domains (e.g., .com, .net) enable bad actors to easily obtain lookalike domains to execute business email compromises, phishing and spoofing attacks that lead to data breaches, identity theft, and financial fraud.
As your financial partner, State Bank believes it’s our responsibility to put as much emphasis on protecting your accounts digitally as we do the money in our vault. That’s why we chose to move from these easily abused domains to limit our exposure, and subsequently yours, to cyberattacks.
A Little Background on .BANK
Created by the American Bankers Association (ABA), .BANK is a verified domain that has a higher level of mandated security than any other commercially available domain. On an annual basis, State Bank must reapply for its .BANK domain and undergo a thorough verification process by fTLD Registry Services, a coalition of banks, insurance companies and financial services trade associations from around the world. As a .BANK, we must also comply with strict Federal Deposit Insurance Corporation (FDIC) policies ensuring ongoing compliance with security requirements.
How Is .BANK Keeping My Accounts and My Identity More Secure?
Most identity theft occurs because a customer unknowingly provides sensitive personal information or clicks on something malicious that grants cybercriminals access to their device allowing them access to account or personal information and/or passwords. Often, that deceptive communication begins through a spoofed email or website.
Dot BANK domains are only granted to banks who’ve undergone the rigorous verification described above. Therefore, you’ll never receive a phishing email from a .BANK domain. If you receive an email from a .BANK domain, you can be assured it is from a bank and contains safe links.
So next time you visit the State Bank website or communicate with one of our bankers with a .BANK email, you can rest assured that your account and your identity are a little safer. The .BANK domain is your quick visual cue and online stamp of trust.