More than 15.4 million Americans were victims of identity fraud last year, according to Javelin Strategy & Research. The American Bankers Association is offering eight tips to help consumers protect their information and avoid becoming a victim.
“Identity fraud continues to be a major problem for consumers,” said Doug Johnson, ABA’s senior vice president of payments and cybersecurity policy. “Fortunately, there are ways consumers can protect themselves, like being cautious about what information they share and who they share it with, especially online.”
Our friends at the American Bankers Association suggest following these eight tips:
Don’t share your secrets. 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.
Shred sensitive papers. Shred receipts, banks statements and unused credit card offers before throwing them away.
Keep an eye out for missing mail. Fraudsters look for monthly bank or credit card statements and other mail containing your financial information. Consider enrolling in online banking and eStatements to reduce the likelihood of paper statements being stolen. Also, don’t mail bills from your own mailbox with the flag up.
Use online banking to protect yourself. Monitor your financial accounts regularly for fraudulent transactions. Sign up for text or email alerts from your bank (such as Bank Independent's complimentary BI Card Guardian) for certain types of transactions, such as online purchases or transactions of more than $100.
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 for senders you don’t know.
For more tips on keeping your smart phone safe from dumb fraudsters, read this BI Blog: 12 Ways to Protect your Mobile Device.
Monitor your credit report. Order a free copy of your credit report every four months from one of the three credit reporting agencies at 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.
You should never hesitate to report any suspected fraud to your bank immediately. Bank Independent customers can report fraud by calling Customer Service at (256) 386-5000 or (877) 865-5050 anytime--if it's after hours you'll be routed to our automated line which has an option for reporting fraud to our 24/7 fraud center. You can also complete this online dispute form or stop by any branch.