On-line Fraud
Fraud – How to Help Protect Yourself
Fraud is a term that has become part of our everyday vocabulary. You probably hear variations of fraud ranging from identity theft, online fraud, such as phishing and pharming, to offline fraud, including credit card, phone solicitations, print fraud, check scams, and mail fraud. You can help protect your personal information and accounts by using caution when providing confidential information. Also, by keeping yourself updated on the latest fraud alerts, you can help prevent yourself from becoming a victim.
How to Identify Fraud
By keeping on top of your transactions, you can spot any suspicious activity. With online banking you can view your transactions 24/7.
Identity Theft
Tips on how to help identify fraud:
- Monitor your bank statements monthly.
- Review your credit report at least once a year.
You are your own best protection against fraud. By staying informed, you can help protect your identity and accounts.
Phone Solicitations
Be wary of telephone scammers. If you receive a call from someone asking for personal and account information, call the company back using a phone number you know is legitimate.
Scammers use fraudulent contact information such as mailing addresses, phone and fax numbers and claim to be “third-party consultants.” When unsuspecting consumers contact the scammers, the callers are asked to provide their personal and account information. Scammers then tell applicants that their loans have been approved but that they first need to make an advance payment or deposit before the loans can be advanced by wire transfer.
Check Scams
Scammers may deceive clients into responding to an illegitimate online or newspaper advertisement or may victimize clients by paying for goods with a stolen or counterfeit check for more than the agreed upon amount. The clients are then asked to return the overpayment either by a wire transfer or an official check.
Mail Fraud
Scammers may steal or tamper with your mail. Be sure to pick up the mail daily. Drop your mail in an official postal mailbox.
Help Protect Yourself from Fraud
At Summit Community Bank, the protection of all your assets – including your identity – is our top priority. There are many things you can do to help secure your identity and your accounts. Here are some tips to follow.
Identity Theft
- Don’t include your Social Security Number or driver’s license number on sensitive documents.
- Don’t leave incoming mail lying around.
- Drop your mail in an official postal mailbox.
- Shred or destroy any junk mail before you throw it away.
- Don’t respond to unsolicited requests for personal or account information.
- Use a safe deposit box to protect important documents.
- Review your credit report at least once a year.
Online Fraud
- Look beyond the logo. To make fraudulent emails or web sites appear real, scammers often include actual logos and images of legitimate companies. They also convey a sense of urgency, stating that if you fail to provide, update, or verify your personal or account information, access to your accounts will be suspended. It’s important that you look beyond the logo and not give out your information.
- Use your spam filter. Many email services now have spam filters that minimize the amount of spam you receive. The filters can help you minimize the number of fraudulent emails in your inbox.
- Type, don’t click. Even if you do open a suspicious email, don’t click on any links. By clicking on the links, you could unknowingly download a virus or spyware to your computer. Even if you think the email is legitimate, type web addresses into your browser instead of clicking on links. If the email is from an institution you do business with, use a bookmark that you have already created to visit the company’s web site.
- Change your online passwords often. The rule of thumb is to change your password every 30 to 60 days. Be creative with your passwords – stay away from obvious passwords like your ZIP code, year of birth, or sensitive information such as your mother’s maiden name or your Social Security Number. Include symbols and/or upper and lower case letters so passwords cannot be easily intercepted.
- Update your anti-virus and anti-spam software. By keeping all anti-virus and antispam software up to date on your computers, you make it more difficult for scammers to access your personal and account information. You can purchase anti-virus and anti-spyware software at major retail stores, as well as on the Internet.
- Delete emails from unknown senders with nonsensical subject lines.
Offline Fraud: Check Scams
- Use direct deposit for paychecks, Social Security payments and other regular deposits.
- Be aware of fake check scams that promise easy money for working at home, winning sweepstakes or depositing checks from foreign countries.
- Do not leave your checkbook unattended.
- Know who you are doing business with.
- Report lost or stolen checks immediately.
Offline Fraud: Credit Card Fraud
- Sign your cards immediately once they arrive in the mail.
- Memorize your PIN and don’t write it on anything, especially something in your wallet.
- Don’t enter your card online unless you’re on a secure site. Don’t send your credit card number in the mail.
- Keep a record of all your account numbers, expiration dates, and contact information for each issuer. This will come in handy in your wallet is lost or stolen.
- Report a lost or stolen card right away. Quick action will minimize potential loss and liability.
- Save your receipts to compare against your billing statement. When discarding receipts, tear them up or shred them.
- Monitor your statements monthly, making sure you recognize all charges. If you see any suspicious transactions, contact the bank immediately.
- Carefully review receipts for voided transactions and be sure they do not post to your account.
- Destroy your carbons. Do not leave them behind without tearing them up.
- Don’t leave your purse, wallet, cards or receipts unattended. Always keep them secure or in your sight.
- Only carry cards that you need, leaving others in a safe place at home.
- Don’t give out your account number unless you know and trust the company.
- In lieu of a signature on your credit card, write “verify signature on driver’s license”.
- Shield your hand from view of others when entering your PIN at ATMs.
Offline Fraud: Mail Fraud
- Shred documents containing your personal and financial information before placing them in the trash.
Protecting Your Computer and Online Accounts
Protect your computers like you protect your checkbook. The following tips will help you protect your computer and your online accounts:
- Be cognizant of your surroundings when using a public computer or working on a wireless network.
- Keep your online accounts active – such as Online Banking with Bill Pay – to watch for any suspicious transactions.
- Help protect your computer and your accounts by installing anti-spyware on your computer. Anti-spyware can help prevent the collection of your personal and account information without your knowledge.
- Update your anti-virus software regularly to help protect your computer against viruses and other harmful computer codes.
How Scammers Obtain Your Email Address
Many scammers randomly generate email addresses – that’s why you may have received fraudulent emails that appear to be from banks you do not have an account with. They also purchase mailing lists, obtain email addresses online from Web pages, chat rooms, online auctions, and directories or from illegitimate sources.
If you believe you may be a victim of Identity Theft, you should:
- Report the theft to each of these credit reporting agencies: Experian (888) 397-3742; Equifax (800) 525-6285; and TransUnion (800) 680-7289.
- File a police report in your local jurisdiction and retain a report number and name of the officer with who you filed the report.
- Contact the Federal Trade Commission’s Identity Theft Hotline at 877-IDTHEFT to file a complaint or go to ftc.gov/bcp/edu/microsites/idtheft.