Tag: identity theft

Identity Theft: A Survivor’s Guide

Identity theft is a crime with many faces: from the thief who your skims your card info at the ATM, to the hacker who assumes your persona and opens accounts in your name.

Today is Data Privacy Day. And though most if not all of us will experience identity theft, we are all able to survive it.

Unfortunately, rectifying identity theft damage can be like untangling a wet knot. You can do it but it will require patience and perseverance. There is hope!

Start by committing yourself to becoming and remaining organized. Keep copies of letters and emails. It doesn’t hurt to maintain a verbal correspondence and/or other logs. File paperwork immediately and store everything in a safe, accessible place.

Step One: Creditors and Financial Institutions

If accounts are abused or opened illegally, contact your creditors ASAP. Ask for fraudulent transaction documentation as you’ll likely need to file a police report. Add “non-guessable” passwords to replacement cards and all existing accounts.

If a collection agency attempts to collect on a fraudulent account, explain (in writing) that you are a victim of identity theft and not responsible for the debt. Ask they confirm in writing that you do not owe and that the account has been closed.

For checking account fraud, contact your financial institution to place stop payments on any outstanding checks that you did not write. Report the crime to check reporting agencies. If the fraud is extreme, consider canceling your checking and savings accounts. Obtain new account numbers and passwords. Monitor all future account statements carefully.

Step Two: Legal and Government Agencies

Report the crime. File a report with your local police or sheriff’s department (or wherever the identity theft took place). Request a copy of the report. Additionally, keep the phone number of your investigator handy.

Create an Identity Theft Report with the Federal Trade Commission (FTC). This is the combination of the Identity Theft Affidavit. You’ll file this with the FTC, and the police report. For additional documentation you may pursue a Consumer Financial Protection Bureau investigation.

Notify your local postal inspector if someone else has used your address. The social security administration should be alerted if your social security number has been fraudulently used.

Step Three: Credit Reporting Bureaus

The most arduous task in this process may be ensuring that your credit report lists only factual information. Obtain your credit report from each of the three major credit bureaus (if you are married, your spouse should also check their report).

If the fraudulent information hasn’t yet appeared on your credit reports, be proactive. Report the crime now. Contact one of the bureau’s fraud departments to request an extended fraud alert be added to your file for seven years rather than the normal 90-180 days. Confirm that the bureau you’ve filed the fraud alert with will contact the other two bureaus and to place the fraud alerts.

Write a victim’s report. This is a brief statement describing the details of the crime. Send your report to the bureaus. The first credit reports with fraud alerts are free and are sent automatically. Next, check your credit report every three months to ensure accuracy.

Healing the wounds of identity theft will take time and work. The sooner and more aggressively you deal with the problem, the faster you will see results. Remember, Wauna Credit Union is also a fantastic resource and we are here for you!

In a World With Identity Theft

Identity theft – the idea instantly sparks anxiety. How much money will they get? How long will it take me to discover something is wrong? Will I be able to pay my bills? How long until I get my money back? While there’s never a guarantee, there are several steps you can take to prevent a bad actor from gaining access to your money.Cartoon man committing identity theft

Types of Identity Theft:

The first step in better protecting yourself is knowing the type of identity theft you are trying to prevent. Some fraudsters gain access to existing accounts to steal the money or credit you already have. This type of fraud is easier to notice, but causes more upheaval in your life. Others simply mine enough identifying information about you to open up accounts in your name and without your knowledge. The good news here is you aren’t likely to have your daily finances affected, but the fraud can go undetected for much longer. Often, this type of activity is not discovered until you are applying for a loan or mortgage.

Safeguarding Your Existing Information:

This is the most common way people see their finances compromised. There many steps you can take, but the important thing is to limit the number of ways your information is not within your control.

  • Shred documents with personal information before discarding. Better yet, sign up for paperless billing.
  • Don’t give out personal information or account numbers unless you know who you’re dealing with.
  • This is especially true online. Make sure you trust the site before you enter your information. We recently posted a blog about holiday shopping that discussed more ways to stay safe online.
  • Speaking of being online, make sure your passwords are secure. Here’s a guide on how to create a secure password.
  • Be mindful when using your cards that nobody is looking over your shoulder, and be on the lookout for skimmers. Read our post on how to recognize skimmers.

Safeguarding Your Identity

As they say, an ounce of prevention is worth a pound of cure. It can seem overwhelming. Stealing information is a fraudster’s full-time job, but as the joke about outrunning a bear goes, the trick is to be more secure than others, so you’re not the easiest target.

  • Pay attention to when and where you give out personal information. Getting enough information to steal an identity is like putting together a puzzle – information is gathered piece-by-piece.
  • Create a fraud alert with the credit bureaus. This doesn’t keep new accounts from being opened. It requires lenders to verify your information before issuing new credit. The FTC has a good primer on how to set up a fraud alert here.
  • Consider signing up for a credit and information monitoring service. This isn’t a fail-safe, but if you want to be sure, it’s a good step.

Monitor:

  • Go to annualcreditreport.com every year to make sure you know every line of credit that is tied to you.
  • If you have children, check their information as well. Every year thousands of kids have their identity stolen, and it can be years before anybody realizes it has happened.
  • Monitor your financial account statements and order history from online retailers. If you see something you don’t recognize, immediately look into it.
  • Pay attention to the news. If you hear about a breach make sure it’s not a place that might have your information.

Choose Your Partners Wisely:

This is something that often goes overlooked, but can be one of the most important ways to keep your identity safe. You should only trust your data with companies that value your information as much as you do. At WCU, for example, guarding your personal information is crucial to us. By using advanced fraud-monitoring technology, our committed staff closely monitors your accounts for suspicious or irregular activity.

If you regularly go into a branch, contact our Virtual Center, or even use our new Virtual Teller Units, we pay attention to who you are. So, it’s easier for us to notice when something seems off, or when we see activity on your accounts that is different from your normal spending behavior.

Stay Calm

This isn’t necessarily what you want to hear, but even if you do everything right, your information might still be compromised. If that happens though, rest assured there are protections in place to ensure you aren’t left holding the bag. This infographic outlines your liability.

The thing to remember is that the faster you act, the less severe the impact is going to be.

  • File an identity theft report with the Federal Trade Commission (FTC) at identitytheft.gov (currently unavailable due to the government shutdown) or by phone at 1-877-438-4338.
  • File a police report. Most people think it won’t make a difference, but this is an essential step.
  • Contact your financial institutions and let them know what happened.
  • Criminals often change your address with the post office so they can get your new cards automatically sent to them. Keep your eyes out for a change of address card from the USPS, or call 1-800-ASK-USPS.
  • If you didn’t do it before, place that fraud alert.
  • Consider a credit freeze. This is a drastic step, as it prevents you from getting credit as well, but can stop the issue from snowballing.

This is a lot to take in, and it’s something we all wish we didn’t have to worry about. The more care taken in preventing identity theft, the less likely it is to happen. Remember, there are a number of fraud-preventative services WCU offers, and our committed staff is here for you should you have questions, need advice, or simply want to check in on your accounts.

Wendys Fast Food Restaurants Victim Of Cyber Attack

 

Watch Your Bank & Credit Card Statements For Unauthorized Charges

bank-robberMore than 1,000 Wendy’s restaurants have been the victim of a cyber attack, and thousands of their customer credit & debit card data may have been stolen.

Read More: http://www.wsj.com/articles/wendys-says-about-20-of-u-s-franchise-stores-affected-by-cyberattack-1467908433

Wauna Credit Union statement: 

Wauna Credit Union reminds all members of the importance to remain diligent in reviewing their account statements and/or transaction activity. Debit and Credit Card security breaches continue to occur at retail stores, restaurants, gas stations, and other industries – including an alert issued this month by Wendy’s Restaurants. Account statements (paper statements and e-statements) provide members a periodic, detailed list of their recent account activity. Services such as Online Banking and Mobile Banking provide the opportunity to monitor account activity in real time. Please be sure to immediately report any suspicious or incorrect activity to Wauna Credit Union.