AUSTIN, Texas, July 24, 2025–(BUSINESS WIRE)–Austin Capital Bank®, a leader in digital banking products serving more than 1 million users nationwide, announced the launch of the Fort Knox® High-Security Savings Account (HSSA). Built from the ground up with an uncompromising commitment to security, it creates a new industry standard for protecting consumers’ life savings in an increasingly vulnerable digital world.
The Fort Knox HSSA launch coincides with alarming new data from the Federal Trade Commission (FTC) showing fraud attempts against banking customers increased by 25% in 2024, with reported total losses reaching a record $12.5 billion. The FTC also says 93% of Americans have been targeted by fraud attempts in the past year, with over 45 million people falling victim and suffering financial loss. The average loss per victim now exceeds $4,000, representing a 34% increase from just two years ago.
“It doesn’t matter how convenient your banking is if your money isn’t safe—criminals love easy access and fast transfers too,” said Erik Beguin, CEO and founder of Austin Capital Bank. “Today, we’re introducing an entirely new category of bank accounts: the high-security savings account. While traditional banks and payment providers try to balance convenience with security, and achieve neither, the Fort Knox HSSA fundamentally reimagines how banks protect customer assets with a platform and architecture built to prioritize security at every level.”
