Financial Education Series: Identity Theft

On Tuesday, July 18, RiverHills Bank held the second session of the Financial Education Series. This session, led by Detective Michael Ross focused on Identity Theft. Identity theft can happen to anyone. Below are a few tips to help you protect yourself and others, along with resources for reporting scams and action steps to take in the instance that someone steals your identity.

Protection Tips

Spot Imposters

A scammer will often pose as someone you know and trust. This can be a family member, government official, a business you often work with, or a charity. Don’t give out your personal information to any unexpected request.

Speak to Someone You Trust

Scammers will often try to rush you into making a decision, so it is important to speak with someone you trust like a family member or close friend before making a decision.

Conduct Online Searches

Using a trusted search engine, search the name of the company in question, followed by a key word such as “complaint”, “reviews”, or “scam”.

Verify Caller ID

Modern Technology can make it easy for scammers to display fake caller ID information. If someone calls requesting personal information or money, and you are in question of the legitimacy of the call, end the call then call back a number that you know is trustworthy.

Report Robo Calls

If you receive a call and hear a pre-recorded sales message, hang up the phone immediately, then report the call to the Federal Trade Commission at ReportFraud.ftc.gov.

Payments Types

Payment methods such as credit cards have more built-in fraud protection than reloadable cards or wiring money, especially when it comes to getting your money back.

Be Aware of Fake Checks

Some scams may include the use of fake checks. Scammers may ask you to deposit a check on their behalf and wire the money back to them. Fake checks can sometimes take a few weeks to discover and leave you with the responsibility of paying back the institution.

Don’t Fall for Empty Promises

Common scams can include employment opportunities, debt relief programs, loan and credit offers, mortgage assistance, and sweepstakes. If you get contacted by someone giving you an offer, but require you to pay fees or taxes first, this is most likely a scam.

Research Free Trial Offers

Before opting into a free trial it’s important to both research the company and to read the cancellation policy. Some companies may use a free trial offer in order to bill you each month for a product or service you might not even use.

Sign Up for Scam Alerts

Sign up to recieve alerts from the Federal Trade Commission about scams here and stay up to date.

What to do if your identity has BEEN stolen?

Contact the Fraud Department

Contact the fraud department of the company or companies where fraud occurred and ask them to freeze or close your account(s).

Change Account Login Information

Update all of your account login information. This includes changing logins, passwords, and pins.

Place a Fraud Alert

Contact one of the three credit bureaus and report the instance of fraud. The credit bureau you contact is required to inform the other two of the report.

Equifax: Equifax.com/CreditReportAssistance or call 1-888-766-0008

Experian: Experian.com/fraudalert or call 1-888-397-3742

TransUnion: TransUnion.com/fraud or call 1-800-680-7289

File a Report

File a report with the Federal Trade Commission including as much information as possible. A report can be filed at IdentityTheft.gov.