Fraud Protection Tips

Protecting yourself against financial fraud takes education and consistency. By knowing how to spot a scam, keeping your identity safe and using up-to-date fraud prevention practices, you can feel safer against this serious threat. 

• How do I keep my passwords secure?

  • Change passwords to “passphrases.” Instead of a password like 1FishPond, use a longer phrase with random words and a higher character count. Something like !1WindyTowerFliesKites4@ll are more difficult for fraudsters to guess.
  • Make sure your passphrases include:
    • Both uppercase and lowercase letters
    • Numbers
    • Symbols
  • Make sure your passphrase doesn’t contain:
    • Your real name
    • Username
    • Any other identifying information
  • Change passphrases regularly for sites that have a lot of personal information, financial details and private data.
  • Don’t reuse passphrases. All your accounts should have unique logins.
  • There are several trustworthy “helpers” for password management, such as passphrase generators and password management apps that can help you keep track of your personal credentials.
  • Use multi-factor authentication when possible.
  • If your laptop, personal computer or mobile device is compromised, have it professionally screened for malware and update your online credentials before going back online.

• What if I see irregular/fraudulent activity on my account?

  If you see something suspicious, report it immediately. Call your local branch or Client Support at (800) 279-0007 (personal banking) or (833) 774-6897 (business banking) to secure your account.

• How can I spot a scam?

  Criminals often use the same playbook, and most scams will have some immediate warning signs.

   

  They impersonate important companies and people. Scammers will pretend to be the government, a business or your family and ask for account info, online banking credentials or money. This is behavior that a trustworthy company would never do.

   

  They apply pressure and urgency. Fraudsters want you to act as soon as possible, so you have less time to think. If something is time sensitive, it’s probably a scam.

   

  They’ll play on your emotions. “This is a one-time offer to secure your family’s future!” Anything that tugs on your heartstrings, fears or hopes should be ignored.

   

  They want money up front. If you must fork over your hard-earned dollars before you’re able to claim a benefit, just walk away.

   

  Messages are unsolicited and ask for sensitive information. Reputable companies will never reach out and ask for your credit card number, not even credit card companies. As a rule of thumb, never share important numbers unless you call a bank or other company yourself.

• How does ANB keep my information safe?

  • Substantial measures are in place to protect your identity against theft and fraud:
    • Internal confidentiality: Access to nonpublic information about you is limited to employees on a need-to-know basis only.
    • Employee training: We train and test our employees on handling sensitive and confidential information to help protect our clients against fraud and identity theft.
    • Privacy policies: Our privacy policy protects your personal and financial information, and our policies are stringent and strictly enforced.
    • Online security: Multiple security measures have been implemented and are continually updated to protect your web-based banking transactions. These include:
      • A password-controlled system entry
      • Multi-factor authentication
      • A GeoTrust-issued Digital ID for the bank’s server
      • Secure Sockets Layer (SSL) protocol for data encryption
      • Firewall and application firewall to regulate the inflow and outflow of traffic
      • Robust anti-spyware, anti-malware and security software
      • Behavior analysis to detect and signal suspected fraud

• How can I protect my children from ID theft?

  Child ID theft is on the rise, as fraudsters will take advantage of any personal information they can find. Thankfully, you can make proactive moves to keep your child’s ID safe.

   

  Talk to your kids about protecting personal information. Phone calls, emails and social media are all ways scammers can ask for information. Unknown individuals and suspicious messages should always be ignored. Personal information should never be shared.

   

  Freeze your children’s credit. Even without a credit card or bank account, you can still freeze a child’s credit until they are ready to handle finances on their own. All security freezes are free, prevent unauthorized credit accounts from being opened and can be lifted by a parent or guardian at any time.

   

  Each of the national credit reporting agencies (Experian, Equifax and TransUnion) will need to be contacted to place a freeze. Along with documents for your child, you’ll need to prove guardianship with a birth certificate. You’ll have one less thing to worry about once the process is complete.

• How do I protect my elders from fraud and financial abuse?

  The AARP analyzed the impact and cost of financial abuse. The results will startle anyone into taking immediate action.

  • $120,000: the national average loss per victim
  • $36,000: the estimated direct cost to caregivers due a loved one being exploited
  • Family members steel twice as much money as strangers
  • Older adults with cognitive decline are the most vulnerable to fraud and have up to twice as much stolen

   

  By being proactive, you can help loved ones keep their assets and identity safe.

  • Designate someone trusted as a financial power of attorney (POA). This person will have legal authority to monitor and manage finances and help elders make financial decisions. Someone with POA can also reduce the burden of handling finances.
  • Sign up for dual control of important financial accounts. This is not as robust as power of attorney, but an additional family member will be able to monitor accounts and receive alerts.
  • Sign up for an anti-fraud service. A top-tier platform will track bank accounts, investments and credit cards for potential identity theft.
  • Stay in touch with your older loved ones. Ask them if they’ve had recent financial discussions with anyone, including family members.
  • Educate your elders on common scams. Fraudsters often impersonate the government, grandchildren, investors, the lottery or sweepstakes and IT support from banks and investment firms. Scammers are also pushy and press for urgent decisions.
  • Help them get into the habit of verifying requests. The company making a request should be contacted through proper channels to verify legitimacy.
  • Make sure you trust your loved one’s caregivers. Wallets and purses in the open can be tempting targets for caregivers with bad intentions. Companies that provide care should do thorough background checks and vouch for the character of their employees.
  • Enable elders to say no. An easy way to handle unsolicited and unusual messages is to simply ignore them.

   

  More information on safeguarding seniors from financial abuse:

  Protecting seniors from financial exploitation – American National Bank

  Seniors are fraud targets – American National Bank

   

  If you suspect elder abuse or financial exploitation, contact your local law enforcement or the Adult Protective Services (APS) agency in the state where the victim resides. Find the APS reporting number for each state by visiting the state resources section at the National Center on Elder Abuse, contact Eldercare Locator or call 800-677-1116.

• My personal information was part of a large data breach. What do I do next?

  If your credit or debit card numbers are now in the open, contact each company to receive new cards and change your username and password. If the data breach included your Social Security number (SSN), place a credit freeze at each of the credit reporting agencies (Experian, Equifax and TransUnion) to help prevent ID theft. A credit freeze is free and can be lifted any time.

• What do I do if I’m a victim of identity theft?

  ID theft is a serious crime and requires swift action. Your plan of action is to (1) connect with companies where fraud occurred, (2) put a security freeze on your credit to prevent further misuse, (3) create your ID theft report (4) contact Federal Trade Commission to get a recovery plan and (5) follow-through with additional safety precautions. ID theft is an unpleasant experience, but with diligence, it’s possible to turn things around. Here are your next steps.

   

  Contact companies where fraud took place. Ask to speak to their fraud department immediately and report accounts that were opened in your name and fraudulent purchases that were made. All accounts should be closed. These companies may ask for a written fraud report (we have instructions for that), but the immediate goal is to prevent further theft. To ease the situation, credit card companies will remove theft related charges from your bill while investigating your claim.

   

  Place a security freeze on your credit. Also known as a credit freeze, this action halts access to your credit report and prevents any new accounts from being opened in your name. There’s no charge to implement a freeze, it won’t change your credit score and it will remain in effect until you decide to lift them, such as when you need to apply for a loan.

   

  All national credit reporting agencies will need to be contacted directly. Victims of ID theft can receive a free credit report and you’ll want to review yours for purchases you don’t recognize.

   

  Experian

  Freeze your credit

  Step by step ID theft guidance

  ID theft assistance: 888-397-3742

  Mailing address:
  Experian
  P.O. Box 9530, Allen TX 75013

   

   

  Equifax

  Freeze your credit

  ID theft assistance: 888-766-0008

  Mailing address:

  Equifax

  P.O. Box 101509

  Atlanta, GA 30348-5069

   

   

  TransUnion

  Freeze your credit

  ID theft assistance: 800-6807289

  Mailing address:

  TransUnion

  Fraud Victim Assistance

  P.O. Box 6790, Fullerton, CA 926-346-790

   

  Create an ID Theft Report. This is a two-step process. The first step is to complete the ID Theft Affidavit form. The affidavit will be used when you contact your local police. The police report plus the affidavit will be your official ID theft report, which you can then use to dispute transactions and debts.

   

  The ID Theft Affidavit was created by attorneys at the Federal Trade Commission (FTC). You can also find this from on the FTC website or at any American National Bank branch. There are two parts to this form.

   

  • Part One — the ID Theft Affidavit —where you report general information about yourself and the theft.
  • Part Two — the Fraudulent Account Statement — where you describe the fraudulent account(s) opened in your name. Use a separate Fraudulent Account Statement for each company you need to contact.

   

  These critical documents will help you dispute claims and reconcile debts. 

   

  Contact the Federal Trade Commission. The FTC has a special online portal to help you create a personalized, step-by-step recovery plan.

   

  ID theft assistance: 1-877-ID THEFT
  Mailing address:
  Identity Theft Clearinghouse
  Federal Trade Commission
  600 Pennsylvania Avenue
  Washington, DC 20580

   

  Additional safety steps. It’s important to feel confident that ID theft won’t spread to other financial aspects of your life. Contact key organizations connected to your finances and inform them of your situation. Each of them should have an action plan such as changing your Personal Identification Number (PIN), account numbers, closing and reopening accounts and sending new debit or credit cards. Consider contacting:

  • Banks
  • Credit card companies
  • Investment firms
  • Your employer
  • Insurance companies
  • Healthcare providers
  • The IRS
  • US Postal Service (in case of a fraudulent change of address)

• What extra security precautions does ANB advise?

  • Regularly monitor your bank and credit card accounts.
  • Set up balance and transaction alerts and notifications on ANB Go.
  • Keep your contact information up to date. Make sure you can be contacted if there is suspected fraud on your account, and if you still receive paper statements, make sure they are going to the right address.
  • Reduce the risk of stolen mail and account information by setting up paperless billing and statements.
  • Before you provide personal information to your bank, doctor’s office, other businesses and/or your employer, ask how they will use and protect it.
  • Never carry your Social Security card or number, birth certificate or passport unless necessary.
  • Report lost or stolen checks immediately and review newly delivered checks to make sure none were stolen in transit.
  • Do not print your Social Security number or driver’s license number on your checks.
  • Never give identifying information over the phone or internet to someone you do not know.
  • Shred financial solicitations or financial statements before disposing of them.
  • Avoid mail theft by limiting check writing, and deposit your mail into a secure, official U.S. Postal Service collection box outside your local U.S. Post Office.
  • If regular bills fail to reach you, call the company to find out why. Someone might have filed a false change-of-address notice to divert your mail and steal your identity.
  • Do not use common publicly accessible personal information, such as a phone number, birth dates, etc., as passwords.
  • Keep a list of credit card and bank account numbers, expiration dates and phone numbers in a safe place.
  • Never leave your purse or billfold unattended (for example, in your car, motel room, walking trails, the gym, etc.).
  • Protect all PINs, usernames and passwords and change them often. Instead of a password, start using a “passphrase.”
  • Use anti-virus protection software.
  • Do not open email attachments or links from unknown senders.
  • Check web addresses to ensure that they are secure with the prefix “https.”
  • Get a free copy of your credit report every year. The Fair and Accurate Credit Transactions Act (or FACT Act) requires each of the three credit reporting companies to provide you with a free copy of your credit report, at your request, once every 12 months. Get your report at www.annualcreditreport.com or call 877-322-8228.

• Are there additional websites and information on identity theft & fraud?

  These websites contain more information on securing sensitive data and protecting yourself or your business from identity theft and fraud. If you have any questions, please contact Client Support at 800-279-0007.

  • • American National Bank is committed to sharing fraud-related information in the News & Insights section of our website.
    • Our Fraud Awareness & Prevention Checklist is a useful guide for business banking clients to implement fraud prevention and risk management controls.
    • The Federal Trade Commission has additional resources on preventing and recovering from ID theft.
    • The Consumer Finance Protection Bureau is another great resource for learning more about fraud prevention.

• How do account alerts and notifications help prevent fraud? 

  While you should be monitoring your accounts regularly, it’s difficult to keep an eye on your accounts 24 hours a day.  Setting up alerts and notifications on ANB Go and ANB Go Business can help you identify transactions that you did not authorize. You can also set up balance alerts for when your account goes below a specific number. In addition, make sure your contact information is up to date (address, phone and email) so all alerts go directly to you. Check our Resources page to access the user guides for ANB Go and ANB Go Business and learn how to change your security preferences and set up alerts and notifications.