Protect Yourself from ID Theft and Fraud
Protect Your Personal Identification
In recent months there has been an increase in the number of unsolicited emails and phone calls that try to obtain personal information by pretending to be a company you do business with or a government agency such as the FDIC. The emails often display the company's name and logo. Both phone calls and emails can be as simple as asking you to reply with personal information to "confirm information they already have on file". Some emails may ask you to link to a web site that appears to be legitimate, but is really not affiliated with the organization it pretends to be.
Natick Federal will NEVER ask you for private information (such as account numbers, passwords, PIN's, social security numbers, etc. through an unsolicited email or phone call.
How to Protect Your Identity
The following are several steps you can take to protect yourself from identity theft:
- Never provide your personal information in response to a phone call, email or web site that was unsolicited. This includes:
- Natick Federal account number
- Social Security Number
- Password or PINs
- Mother's Maiden Name
- Use passwords that are difficult to guess and that contain both letters and numbers. Change your passwords and PINs frequently.
- Review your bank statements for accuracy. Contact your financial institution immediately if there's a discrepancy or if you notice something suspicious, such as a missing payment or unauthorized withdrawal.
- Never open unsolicited email. Delete it immediately and, if possible, report it as spam to your Internet Service Provider.
- Use online banking to pay your bills. The fewer personal documents you send through the mail, the less chance there is for identity theft.
- Log out and close your browser after using online products before leaving your computer.
- Do not leave your computer unattended when logged in to any online product.
- Purchase a shredder and shred financial and personal documents you no longer need to keep, such as credit card offers, pay stubs, and invoices.
- Carry only the identification you need in your wallet or purse. For example, do not regularly carry your Social Security Card.
- Do not print your social security number on your checks.
- Obtain and review your credit report at least once a year and immediately report any inaccuracies.
If you feel you have been approached or victimized by someone representing themselves to be from Natick Federal Savings, please contact us immediately at 508-653-2340. You should also contact your local police and complete a complaint form with the Federal Trade Commission by phone at 1-877-ID THEFT (438-4338) or online at
www.consumer.gov/idtheft.
Beware of Fake Emails and Fraudulent Websites
The Internet has become an easy place for criminals to obtain your personal information. Referred to as “phishing” and “pharming”, criminals use fake emails, websites, and pop-up windows to attempt to obtain personal information by pretending to be a company you do business with or a government agency such as the FDIC.
Email Fraud
“Phishing” involves an email or pop-up advertisement that claims to be from a legitimate business or organization. The email may instruct you to validate or update such information as account number(s), your social security number and passwords or PINs.
The email often indicates the information is urgently needed in an attempt to get you to respond quickly. You may be instructed to respond via email or you may be directed to a phony website that looks like the site of the legitimate business or organization. If you follow the instructions you will be providing the criminals with your personal information that they will then use to transfer funds, make payments, obtain credit in your name and commit other illegal acts.
- Be suspicious and cautious of unsolicited emails that use a general greeting and do not identify you by name.
- Fraudulent emails often contain typographical and grammatical errors.
- Natick Federal will NEVER ask you for private information (such as account numbers, passwords, PIN’s, social security numbers, etc.) through an unsolicited email.
Website Fraud
Fraudulent websites are often used in conjunction with email fraud schemes that direct you to a website that looks like the legitimate company’s site, but is actually fraudulent. In many cases there is no easy way to distinguish the phony website because the URL address will be very similar to that of the legitimate site. The fraudulent website may use common misspellings of the company’s name or may add a symbol, number or word before or after the name. As a result, you may even end up at the phoney site simply by miss-typing the web address of the legitimate site.
Help Protect Yourself
- Delete suspicious emails from unknown sources without opening them.
- Don’t click on links in an unsolicited email, especially if it asks for personal information.
- If you receive an email that warns you, with little or no notice, that an account will be shut down unless you reconfirm your personal information, Do Not Reply or click on the link in the email. Call the company named in the email using a telephone number you know to be genuine to confirm if the request is authentic.
- Do Not send personal or confidential information over the Internet in an email.
- Before submitting confidential information through a website, make sure the connection is secure. Usually the URL address of a secure site will begin with “https://” . You should also see a locked padlock icon at the bottom of your browser window.
- Always log off websites where you have entered a User Name or ID and Password when you are done with your online banking session.
- Keep your online banking password secure. Do not share your password or use a password that is easy to guess such as your date of birth or phone number. Select a complex password that includes both letters and numbers to make it harder to guess.
- Install virus protection and anti spyware software on your computer and update it regularly.
Check and Other Financial Fraud
While much attention has been given to email and website fraud, there has been an rapid growth in counterfeit personal and business checks, cashier’s checks and money orders in the last few years. This is also due in part to new technologies.
Individual consumers and businesses are losing significant sums (often thousands of dollars) in scams that involve checks received from strangers or new acquaintances. These checks are deposited, the funds withdrawn and the money or purchased merchandise is then sent to a third party before the financial institution learns that the checks were fraudulent. In most cases the depositor is held responsible for the entire amount of the fraudulent check.
Examples of Fraudulent Scams
Check for an excess amount –
The consumer sells merchandise over the Internet. The buyer sends the consumer a cashier’s check for more than the agreed upon price and asks the consumer to wire the excess to a third party, often in a foreign country. When the check is discovered to be fraudulent the consumer is out the amount of the check.
Unexpected windfall –
The consumer receives a letter, phone call or email indicating he or she has won a lottery, prize, trip, is the beneficiary of someone’s estate, or otherwise has the right to receive a substantial sum of money. The letter explains that the consumer must pay a processing or transfer fee or tax by wiring funds before receiving the funds. Often the letter even includes an enclosed check to cover the fee and asks the consumer to deposit the check and wire the fee to a third party. In either case, the consumer has lost the amount of wired funds.
Mystery Shopping –
The consumer receives a letter stating that he or she has been chosen to act as a mystery shopper. The letter includes a cashier’s check. The consumer is asked to deposit the check into his or her account and to use a portion of these funds to purchase merchandise at designated merchants and to transfer the remainder of the funds to a third party often using a designated service company. Again, the consumer is responsible for the amount of the check when it is returned unpaid.
Money Transfer Agent –
The consumer receives cashier’s check to deposit into his or her bank account and is then instructed to wire specific amounts to various persons or accounts. For his or her efforts the consumer is told he or she can keep the remainder of the funds as a fee. When the checks are returned unpaid, he or she is responsible for the entire amount.
Protect Yourself from Check Scams -
- If you deposit a check from a stranger, discuss the situation with your banker before spending the money and handing over anything of value.
While federal regulations require banks to make funds from a deposit available quickly (generally between 1 and 5 days) it can take 2 weeks or longer before the financial institution learns that the check is worthless.
- Walk away from any deal where you receive a check for more money than the amount due and you’re instructed to return the excess funds.
- Walk away if your told you’ve won a lottery or other prize from a contest you didn’t enter or has a “handling” fee that has to be sent in advance of receiving the winnings. If it sounds too good to be true, it probably is.
Reporting Fraud
If you suspect identity theft or fraud involving any of your Natick Federal savings accounts, including your debit or ATM card, please call us immediately at 508-653-2340. Based on the information you provide us, we may recommend that you close your account and open a new account number.
Document your reporting of fraud
Keep a log of your conversations, including dates, names, and phone numbers. Confirm conversations in writing and keep copies of all letters and documents. You may want to send correspondence by certified mail, return receipt requested.
Credit Bureaus
Contact the toll-free fraud number of any of the credit bureaus to have a fraud alert placed on your credit report. You can include a statement that creditors should get your permission before opening any new accounts in your name.
Fraud alerts can help prevent an identity thief from opening more accounts in your name. You only need to contact one of the three companies to place an alert. The credit bureau you call is required to contact the other two. Fraud alerts are usually placed for 60 to 90 days, but you can request that the time be extended to 7 years.
Equifax www.equifax.com 888-766-0008
Experian www.experian.com 888-397-3745
Transunion www.transaunion.com 800-680-7289
Federal Trade Commission
You may also file a complaint with the FTC at
Online
By phone 1-877-ID-THEFT (438-4338)
By mail Identity Theft Clearinghouse
Federal Trade Commission
600 Pennsylvania Avenue, NW
Washington DC 20580
The FTC’s Identity Theft website is also a source of detailed information to protect yourself from identity theft and help victims repair damage to their credit records. A uniform affidavit is available on the site that most creditors will accept.
Local Police Department
You should also contact your local police to report the crime, whether you’re a victim of identity theft, fraudulent email or a fraudulent check scam. Obtain a copy of the police report. When you provide your police report to the credit bureaus, they are required to remove the fraudulent accounts from your credit report.
