Security and Security Procedures Sample Clauses

Security and Security Procedures. For security purposes, you will be required to change the temporary password provided by the Bank upon your initial login to the System. You acknowledge and agree that: (a) the Bank shall have no access to your password; (b) you shall be solely responsible to determine what password will be used by you; and (c) the identification of such password selected by you shall not be communicated to the Bank. You agree that the Bank shall be authorized to effect the System Services upon receipt and verification by the System of your password, and that the Bank is authorized to act on instructions received upon receipt and verification by the System of your password. You agree that any transactions processed with your log-in ID and password are deemed to have been authorized by you. You are solely responsible for the confidentiality and security of your password and shall safeguard against unauthorized transmission of instructions to the Bank and you agree to change your password regularly. The Bank will not be liable for any transaction ordered by any person to whom you have granted access regardless of the purpose for which you granted the access or for any information about your account revealed in reliance upon your log-in ID and password. Upon three unsuccessful attempts to use a password, your access to the System will be disabled, and further access to the System shall be permitted only upon compliance with established procedures by the Bank, including the issuance of a new password. You acknowledge the importance of your role in preventing misuse of the accounts through the System and agree to promptly examine all account statements for accuracy immediately upon receipt. You agree to protect the confidentiality of your account(s) and account number(s), and personal identification information. (You acknowledge that certain personal identification information by itself, or together with information related to the accounts, may allow unauthorized access to such accounts.) While data transferred via the System is encrypted in an effort to provide transmission security, you acknowledge that the internet is inherently unsecure and that all data transfers, including the System Services, occur openly on the internet and potentially can be monitored and read by others. The Bank specifically does not warrant that data transfers utilizing the System, or email transmitted to and from the Bank, will not be monitored or read by others; we cannot and do not warrant that ac...