Susan Schneider, Nederland. During the holidays, it’s important to be especially vigilant with your personal and financial information. Whether you’re a consumer or small business owner, fraud prevention is key to protecting sensitive information.
Identity theft continues to be one of the fastest growing crimes in the United States and the holidays shopping season is a prime target. In 2013, an American fell victim to identity fraud every two seconds. The American Bankers Association recommends the following tips for keeping your information – and your money – safe.
For Consumers:
Don’t share your personal information
Don’t provide your Social Security number or account information to anyone who contacts you online or over the phone. Protect your PINs and passwords and do not share them with anyone. Use a combination of letters and numbers for your passwords and change them periodically. Do not reveal sensitive or personal information on social networking sites.
Use online banking to protect yourself.
Monitor your financial accounts regularly for fraudulent transactions. Sign up for text or email alerts from your bank for certain types of transactions, such as online purchases or transactions of more than $500.
Monitor your credit report.
Order a free copy of your credit report every twelve months from each of the three credit reporting agencies at www.annualcreditreport.com.
Protect your computer.
Make sure the virus protection software on your computer is active and up-to-date. When conducting business online, make sure your browser’s padlock or key icon is active. Also look for an “s” after the “http” to be sure the website is secure.
Protect your mobile device.
Use the passcode lock on your smartphone and other devices. This will make it more difficult for thieves to access your information if your device is lost or stolen. Before you donate, sell or trade your mobile device, be sure to wipe it using specialized software or using the manufacturer’s recommended technique. Some software allows you to wipe your device remotely if it is lost or stolen. Use caution when downloading apps, as they may contain malware and avoid opening links and attachments – especially from senders you don’t know.
Keep an eye out for missing mail.
Fraudsters look for monthly bank or credit card statements or other mail containing your financial information. Consider enrolling in online banking to reduce the likelihood of paper statements being stolen. Also, don’t mail bills from your own mailbox with the flag up; use a secure mail drop box.
Shred sensitive papers.
Shred receipts, banks statements and unused credit card offers before throwing them away.
Report any suspected fraud to your bank immediately.
For Business Owners:
Educate your employees. You and your employees are the first line of defense against corporate account takeover. A strong security program paired with employee education about the warning signs, safe practices, and responses to a suspected takeover are essential to protecting your company and customers.
Protect your online environment. It is important to protect your cyber environment just as you would your cash and physical location. Do not use unprotected internet connections. Encrypt sensitive data and keep updated virus protections on your computer. Use complex passwords and change them periodically.
Partner with your bank to prevent unauthorized transactions. Talk to your banker about programs that safeguard you from unauthorized transactions. Positive Pay and other services offer call backs, device authentication, multi-person approval processes and batch limits to help protect you from fraud.
Pay attention to suspicious activity and react quickly. Look out for unexplained account or network activity, pop-ups, and suspicious emails. If detected, immediately contact your financial institution, stop all online activity and remove any systems that may have been compromised. Keep records of what happened.
The Federal Trade Commission offers numerous resources including scam alerts, phone scam information, kids and computer security and much more. Additional information can be found at www.consumer.ftc.gov. If you believe you have been a victim of identity theft, visit www.identitytheft.gov for information on how to start the recovery process. Most importantly stay vigilant, contact your banker with any questions or concerns, and have a safe holiday season!
Susan Schneider is the Community Bank Manager at Centennial Bank, Nederland.
