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Fraud & Identity Theft

Best case scenario, you prevent Identity Theft before it happens!

 
What is Identity Theft?
Identity theft occurs when someone steals your personal information and uses it without your knowledge or permission. This information can include your name, Social Security number, or account numbers. Perpetrators may use your information to access your existing financial accounts, open new accounts or take out new loans, file false tax returns and more. This can cost the victim time and money and even ruin your credit.

Ways you can protect yourself:
  • Shred financial documents and paperwork with personal information before you discard them.
  • Login to financial sites and check your balances regularly. If you suspect any suspicious activity, report it immediately. Always log out and completely close session before leaving the computer.
  • Never share user names, passwords or give out one-time-passcodes (OTP) and avoid saving your passwords on your computer.
  • Protect your Social Security number (SSN). Do not carry your Social Security card in your wallet or write your SSN on a check.
  • Do not give out personal information on the phone, through the mail, or online unless you know who you are dealing with. If you receive a call unexpectedly, end the call and call back using a number you know for that person.
  • Do not open emails or click on links sent in unsolicited emails.
  • Protect your computer using anti-spyware and anti-virus software and keep them up-to-date.
  • Do not use an obvious password like your birth date, your mother’s maiden name, or the last four digits of your SSN.
  • Keep your personal information in a secure place at home, especially if you have roommates, employ outside workers or are having work done in your house.
  • Obtain a free annual credit report every year at annualcreditreport.com
  • Place a “Freeze” on your credit. You can freeze your credit with each of the three credit bureaus: Equifax, Experian, and TransUnion:
    • Equifax - Visit the Equifax consumer services center or call (800) 349-9960
    • Experian - Contact Experian's security freeze center or call (888) 397-3742
    • TransUnion - Visit the TransUnion website or call (888) 909-8872

Scams to Watch out for

  • IRS Scams - Thousands of people have lost millions of dollars and their personal information to tax scams. Scammers use the regular mail, telephone and email to set up individuals, businesses, payroll and tax professionals. The IRS doesn't initiate contact with taxpayers by email, text messages or social media channels to request personal or financial information.
  • Romance Scams - Millions of people use online dating apps or social networking sites to meet someone. But instead of finding romance, many find a scammer trying to trick them into sending money. Fake profiles trick people into trusting them, then ask for money.
  • Employment Scams - Scammers advertise jobs the same way honest employers do — online (in ads, on job sites, and social media), in newspapers, and sometimes on TV and radio. They promise you a job, but what they want is your money and your personal information.
  • Renter Scams - Scammers trick potential tenants into paying money for a property that doesn't exist, has already been rented, or has been rented to multiple people at once.
  • Email Scams - Phishing - This online scam involves sending you an email that appears to be from a legitimate source, such as a bank or internet service provider. The email may trick you into giving away personal information that can be used for identity theft.

Data breaches

By now most of us have received a notification from some company we do business with that their systems were breached. Cybercriminals target organizations, such as financial institutions, retailers, or healthcare providers, to obtain large amounts of personal data and then use this data to complete malicious activity.


Skimming

This occurs when small devices are installed on ATMs, point-of-sale terminals, or fuel pumps to capture card data and PIN entries. Criminals can then use this information to create fake payment cards and make unauthorized purchases.


In-Person

Thieves may steal your mail or garbage to get your account numbers or Social Security number, or they may steal your wallet or purse.
Use the steps above for ways to protect yourself and look out for these Red Flags:
  • As always, if it sounds too good to be true, it probably is. Avoid schemes that offer money for ‘your help’.
  • Scammers often use a claim of urgency or needing immediate attention
  • Asking you for money of any kind including wire transfers, bitcoin, transfers, gift cards and more. Sometimes the scammer will even falsely send you money in a check and only ask you send part of the money back leading you to believe you can keep some of the money. Once you have sent the money back to the scammer then the bank contacts you that the check was not good and you are now responsible for the money that is gone.
  • Scammers often use spoofed numbers, so remember the bank or any other legitimate business will not contact you and request personal information or use threatening language.
  • Stay calm and avoid follow-up scams to prevent further harm.
  • Start documenting all conversations and fraudulent activity.
  • Find support and forms at www.ftc.gov/idtheft
  • If you have not already, obtain a free annual credit report every year from annualcreditreport.com and place a “Fraud Alert” on your credit reports, and review the reports carefully.
  • Close any accounts that have been involved with or established fraudulent activity:
    • Contact each company where an account was opened or changed without your permission.
    • Ask for verification that the disputed account has been closed and the fraudulent debts discharged.
    • Keep copies of documents and records of your conversations about the theft.
  • Contact other banks/companies that you conduct business with even if they may not have had any fraudulent activity yet and let them know your identity has been stolen so they can put safeguards in place on your accounts.
  • File a police report to help you with creditors who may want proof of the crime.
  • Report the theft to the Federal Trade Commission at www.ftc.gov/idtheft