A proactive approach to account monitoring and digital security.
Cathay Bank is committed to helping clients maintain a secure online and mobile banking experience. While certain security alerts, such as password changes, are automatically enabled, clients can further strengthen their protection by customizing additional alert settings. These notifications help you stay informed of account activity and support early detection of potential fraud or unauthorized access.
Security alerts play a crucial role in helping you monitor your account activity in real time. Some alerts are required by default and cannot be disabled. Others are optional and can be tailored to support your account activity and security preferences.
It is critical to note that not all alerts, such as those related to changes in your phone number or email, are enabled automatically. At times, these must be manually activated. Verifying and updating your alert preferences regularly helps ensure that you are quickly notified of important updates to your profile and account access settings.
Custom alerts can help detect:
Moreover, by setting low transaction thresholds (for example, $1), you can choose to be notified about nearly all financial activity on your account. This level of control offers peace of mind and complements Cathay Bank’s broader security infrastructure.
Available alert types may vary depending on your account configuration. Common categories include:
When an alert is triggered, it is always delivered as a secure message within your account. You can also choose additional delivery methods:
To enhance account security, clients are encouraged to enable multiple alert delivery methods. For example, using both email and SMS notifications can help ensure timely notification. If you are not receiving alerts via email, check your spam or junk folder, and update your safe sender list as needed.
For personal accounts, to review or update alert settings:
Alerts that are dimmed or grayed out in the interface are required and cannot be disabled. These may include password changes, locked accounts or failed login attempts.
For business accounts, clients have additional tools to manage alerts across multiple users:
Administrators can also receive notifications when other users on the account make changes, such as updating phone numbers or initiating transactions. It is also important to note that the alert experience may differ between consumer and business platforms. If you manage both, be sure to review settings on each individually.
For commercial clients, alerts are only one part of a broader fraud prevention strategy. Administrators can also configure dual approval controls, which require more than one user to approve high-risk transactions before they are processed. These controls help reduce the likelihood of unauthorized transfers, even if one user's credentials are compromised.
There are two types of dual approval settings:
Example: Preventing Fraud in a Compromised Vendor Scenario
A common scheme involves a fraudster gaining access to a vendor’s email account and sending modified payment instructions to a business client. If the business administrator has enabled alerts for profile changes or new outgoing payments, they may receive early notice of this activity. Additionally, if dual approval controls are in place, the transaction cannot proceed until it is verified by a second authorized user, adding another layer of protection.
If you receive an alert about activity you did not initiate, take the following steps:
One common tactic involves fraudsters calling clients and pretending to be bank representatives. They may claim to need a verification code “for security purposes.” Cathay Bank will never ask for multi-factor authentication codes via phone or text.
Security alerts are a key part of Cathay Bank’s layered approach to account protection. While certain high-risk alerts are automatically enabled, clients are encouraged to take an active role in configuring optional alerts and customizing how they are delivered.
To further strengthen your online banking security:
If you receive an alert about suspicious activity or believe your account or device may be compromised, contact Cathay Bank immediately. Using a second, trusted device to update your login credentials is recommended.
Whether you are managing your own accounts or overseeing business activity across multiple users, configuring alerts and access controls helps ensure you stay informed, act quickly, and protect your financial information with greater confidence.
This article does not constitute legal, accounting or other professional advice. Although the information contained herein is intended to be accurate, Cathay Bank does not assume liability for loss or damage due to reliance on such information.
