In light of recent retailer data breaches and with credit and debit card fraud becoming more frequent, be sure to read and follow these 8 steps to protect yourself and your identity from being stolen.
1. Be sure to get a new replacement credit or debit card if yours was compromised. If you suspect fraudulent transactions on your card and your financial institution hasn’t contacted you or provided you with a replacement card – be sure to call and request one.
2. Check your bank account register and credit card activity online to see whether your card was used at Home Depot or at any other place that was recently hacked. Don’t wait for your print statement to come in the mail; check the latest account activity digitally by signing up for online access to your account information or by using a mobile banking app. Also watch out for changes to your debit card PIN.
3. Be alert for post-breach phishing attempts. Hackers don’t always get everything they need to break into your accounts, so they will typically send you e-mails or even call on the phone and pose as your bank or card issuer to try to trick you into giving up the missing pieces, including mother’s maiden name, account username and password, date of birth, and Social Security Number. Do not give this information out – your bank will never call, text, or email you for the information you already provided when you opened your account.
4. Lock down your credit report with a security freeze, which essentially shuts off access to your credit history by new would-be lenders. If a hacker applies for a loan in your name, the creditor is less likely to approve it if he or she can’t see your credit file. Freezes are typically free for victims of identity theft, which you are if you paid with plastic at Home Depot between April and September of this year.
5. Get as many as 18 free credit reports per year so you can regularly monitor them and keep an eye out for fraudulent new accounts. You can get three free credit reports (one from each credit bureau) from annualcreditreport.com and three more in many states that also mandate free annual reports.
You’re also entitled to a free credit report from each bureau after you file a 90-day fraud alert, which you should do every 90 days if you’ve been a victim of the Home Depot or other data breach, or have a good-faith suspicion that you’re about to become a victim of identity fraud.
6. Ask merchants big or small if they’re PCI-DSS compliant. If they don’t know or have not even heard of this most basic of data security measures, pay with a credit card, rather than debit card, because fraud theft from your checking account/debit card can set off a cascade of headaches, including penalty fees for bounced checks or insufficient funds.
7. Change your passwords regularly on your various financial accounts and use strong passwords to thwart hackers and protect yourself online.
8. Don’t panic, but take the breach threat seriously, because this problem is now a fact of life until the big payment card brands, banks, and retailers improve the security of payment processing systems in the U.S.
Don’t wait until it’s too late! Check out First Financial’s ID Theft Protection products – with our Fully Managed Identity Recovery services, you don’t need to worry. A professional Recovery Advocate will do the work on your behalf, based on a plan that you approve. Should you experience an Identity Theft incident, your Recovery Advocate will stick with you all along the way – and will be there for you until your good name is restored and you can try it FREE for 90 days!*
Our ID Theft Protection options may include some of the following services, based on the package you choose to enroll in: Lost Document Replacement, Credit Bureau Monitoring, Score Tracker, and Three-Generation Family Benefit. To learn more about our ID Theft Protection products, click here and enroll today!**
*Available for new enrollments only. After the free trial of 90 days, the member must contact the Credit Union to opt-out of ID Theft Protection or the monthly fee of $4.95 will automatically be deducted out of the base savings account or $8.95 will be deducted out of the First Protection Checking account (depending upon the coverage option selected), on a monthly basis or until the member opts out of the program.
**Identity Theft insurance underwritten by subsidiaries or affiliates of Chartis Inc. The description herein is a summary and intended for informational purposes only and does not include all terms, conditions and exclusions of the policies described. Please refer to the actual policies for terms, conditions, and exclusions of coverage. Coverage may not be available in all jurisdictions.
Article Source: Jeff Blyskal for Fox Business, http://www.foxbusiness.com/personal-finance/2014/09/23/steps-to-protect-against-credit-card-fraud/