Tag Archives: Preventing Identity Theft

Signs You’ve Been a Victim of Identity Theft

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In today’s digital world, where personal information is frequently shared online, the threat of identity theft looms large. First Financial is committed to helping you recognize the warning signs of identity theft and take appropriate action. Understanding these signs is crucial for protecting your financial well-being and ensuring peace of mind.

Spotting the Warning Signs

Recognizing identity theft requires vigilance and an understanding of several key indicators. Unrecognized transactions on your bank or credit card statements are often the first hint of identity theft. These transactions might be small at first, but they can quickly escalate. Equally important is keeping an eye on your credit report for any inquiries that you don’t recall initiating. This could indicate someone attempting to open accounts in your name. You can check your credit report for free once a year at annualcreditreport.com.

Another sign to be wary of is receiving unfamiliar bills or statements, or conversely – not receiving the bills or statements you are expecting. This can suggest that someone has gained access to your account information and is redirecting your mail. A sudden, unexplained drop in your credit score is another red flag. It can indicate that fraudulent activities are negatively impacting your credit history.

Unexpected denials of credit or loan applications can also signal identity theft. If your applications are being denied and you don’t know why it could be due to a compromised credit history. Additionally, receiving calls from debt collectors about debt that you don’t recognize is a classic symptom of identity theft. Lastly, unusual activity on your Social Security account – such as unfamiliar earnings reports, should also raise concern.

Confirming and Responding to Identity Theft

If you suspect you’ve been a victim of identity theft, there are several steps you should take to confirm and address the issue. Begin by thoroughly reviewing all of your financial statements and accounts for any unauthorized transactions. This includes checking your credit report from the major bureaus for any unfamiliar activities or discrepancies.

If you find evidence of identity theft, it’s important to report it immediately. Contact your financial institution, credit card companies, and the credit bureaus to inform them of the suspected theft. You should also file a report with the Federal Trade Commission (FTC), which will provide you with a recovery plan.

Taking preventative measures like placing a fraud alert or a credit freeze on your accounts can help prevent further damage. This restricts access to your credit report, making it more difficult for identity thieves to open new accounts in your name. Finally, updating the security of your accounts – such as changing passwords and PINs, is crucial in safeguarding your financial information.

At First Financial, we understand the importance of protecting your personal and financial information. Being aware of the signs of identity theft and knowing how to effectively respond is essential in safeguarding yourself against these risks. By recognizing the signs early and taking prompt action, you can significantly mitigate the effects of identity theft. Stay informed and protected, talk to a representative at 732.312.1500 or visit any of our branches today.

How to Spot Identity Theft and Ways it Can be Used Against You

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ID theft is unfortunately very commonplace today, and sometimes it can be unavoidable. Keep reading to find out a few ways you can safeguard your personal and financial information, how to spot if identity theft might be happening to you, and ways that having your identity stolen can be used against you.

3 Main Signs Your Identity Has Been Stolen:

  • There are accounts you don’t recognize on your credit report.
  • There are unfamiliar transactions on your credit card or bank statements.
  • The IRS informs you that more than one tax return has come in under your name.

Ways ID Theft Can Be Used Against You:

  • The identity thief may use your information to get credit, a loan, or another service in your name. This will ultimately affect your credit score, and potentially your credit usage and how much you’ll be approved for – if not spotted in time.
  • Your own money could be stolen right out of your bank account. If the identity thief uses your personal information to login to your bank accounts, your money could be stolen right out from under you.
  • Your tax refund could get stolen. If you go to file your taxes and are notified by the IRS that they already have a return filed under you, this is a very good indicator that an identity thief has already gained access to your tax refund.
  • Your Social Security Number could be used to work at a job you don’t actually have. An identity thief who has access to your SSN may use it for their own employment purposes. This could also directly affect your tax return, as it would add extra income you will be taxed on.
  • Your health insurance could be used to provide medical care or prescriptions to an identity thief.
  • Your personal and financial information could be used to file a false unemployment claim. This would mean unemployment benefits are being issued in your name to someone else.

There are a few things you can put in place to spot ID theft right away, and to help thwart it off:

  • Be sure you are reviewing an annual free credit report. At least once a year, go to annualcreditreport.com and review your credit report for accounts you didn’t open yourself, or to see if there were any credit inquiries that are not yours. You’ll want to check for credit cards you didn’t open, and car or personal loans you did not apply for. Utility services will also appear on your credit report, so you’ll also want to make sure you actually have the ones listed on it.
  • Check your bank statements often. At least once a month, review your bank and credit card statements to check for accuracy. Be sure the purchases listed were ones made by you. If not, call your financial institution to dispute any incorrect charges right away.
  • Sign up for email or text alerts. Most banks and credit cards offer purchase alerts that you can setup for your accounts. Check your mobile app or online banking settings to see what your alert options are. Here at First Financial, our members have access to First Financial Wallet. If you haven’t already, get started today!
  • Review your health insurance statements. Take note of any medical bills or explanation of benefits statements that arrive in the mail. If you don’t recognize a medical procedure or expense listed, call your health insurance provider immediately.

For more ways to protect your identity, check out our identity theft prevention guide.

Article Source: consumer.ftc.gov

Ways to Protect Your Credit Cards

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If you’ve ever been a victim of identity theft, you know it’s awful. Between the time it takes to get everything corrected and the stress it causes – it’s definitely a spot you’d like to avoid if you can. Though nothing is fool proof, there are several ways in which you can protect your finances. Here are a few that pertain to keeping your credit card information safe from fraud.

Secure all your cards: If your wallet is ever stolen and you lost every card, think about what a nightmare it would be to have to cancel and replace them all. Really consider this the next time you leave home. Try to only take the cards you absolutely need and keep the rest in a secure location like a safe or locked drawer. Try to also minimize the amount of cash you have on you as well and only bring what you need. This way if your wallet gets lost or stolen, you aren’t literally losing everything.

Pay attention: It might be difficult to keep track of a criminal’s activities in real-time, but you can check on your accounts regularly. Today’s smartphone banking and credit card apps really make it easy and fast to check on all your accounts and look for fraudulent transactions. If you’re keeping track of your spending and looking at your accounts daily, you’ll know the minute something happens that looks out of the ordinary. Checking on your accounts every day also helps you monitor your monthly budget and spending habits too.

Opt for being more high-tech: Have you ever used your smartphone’s digital wallet? Many retailers are set up to take payments via Apple Pay and Google Pay, and it’s very easy to use. EMV chips in your credit and debit cards also make transactions more secure and prevent card skimming as well. When shopping online, if PayPal or your phone’s digital wallet are options for payment over entering your card number – always go that route.

Using the above tips can help protect your financial information and really save you from an identity theft headache. Also be weary when using an ATM or paying for gas at the pump – be sure to check for any skimming devices before inserting your card. If something seems off to you, it probably is. Read about how to spot a skimming device in our guidebook here.

T.H.I.N.K First because There’s Harm In Not Knowing!

Article Source: John Pettit for CUInsight.com

5 Steps to Protect Yourself from Identity Theft

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According to a survey done by Bankrate.com, 41 million Americans have been victims of identity theft. Most Americans aren’t taking the necessary steps to protect themselves until it’s too late. For those unfortunate enough to have had firsthand experience, it’s a scary experience that can take years to fix. And in the process, your finances can get destroyed. Before this happens to you, it’s important to take the steps to safeguard yourself from identity theft. Here’s what you should do:

Closely Monitor Your Bank Statements

Most people hardly ever check their credit card or bank statements. If your account information is compromised, you might not even know about it until it’s too late. Be proactive – it’s best to check your statement monthly. You should also make it a habit to log into your accounts at least once a week to review the transactions and see if anything looks off. The earlier you catch any unauthorized transactions, the easier it will be for you to dispute the discrepancies with your financial institution.

Check Your Credit Report Yearly

You are legally entitled to a free credit report every year from each of the three major credit bureaus, TransUnion, Experian, and Equifax. Take advantage of this. Your credit report can change often so it’s important you know what’s going on, especially if you plan on making a large purchase or taking out a significant loan in the near future. AnnualCreditReport.com is a good place to get started. There are many other websites that offer free credit reports, but they may charge you fees after a period of time so be sure to always read the fine print.

Strengthen Your Passwords

We share so much on the internet. Most of us are on at least one social network, if not more. We also depend on the internet to do much of our shopping and banking. While it’s a great convenience, it’s also dangerous as well. Many hackers prey on unsuspecting internet users and shoppers. Before you post something on a social profile, be careful what you share – especially if it contains any personal information. Also, use strong passwords containing a mix of capital and lowercase letters, numbers and symbols. You should also periodically change your passwords as well, especially for sensitive accounts such as your email and bank account.

Secure Sensitive Documents

Paper trails can be just as dangerous as digital ones. Keep your sensitive documents in a safe place in your home, ideally in a locked cabinet or safe. If you need to get rid of any documents with sensitive information on it, be sure to shred them beforehand to prevent them from getting into the wrong hands.

Don’t Give Out Personal Information

If something sounds fishy or phishy, it probably is. Don’t fall victim to a phishing scam. If you receive any requests for personal information such as your social security number, don’t give it out – even if it comes from a company you recognize. Scammers disguise themselves as something or someone else all the time. Call the company and speak to a representative first before you give out any information.

The most important thing to remember is to be proactive and vigilant. Identity theft is a real concern but with the right steps, you can prevent it from happening to you.

Article Source: Connie Mei for moneyning.com

Lost Cell Phone? Here’s How to Keep Your Finances Safe

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We depend on our cell phone for so many day-to-day tasks that go beyond communication. We keep track of our appointments, monitor our healthy lifestyle, and stay updated on breaking news. Additionally, our cell phones have become a hub for managing our finances.

The Federal Reserve reports that Americans use their smart phones or other mobile devices for a variety of monetary activities.

    • 51% of smartphone users had used mobile banking.
    • 24% of smartphone users had made a mobile payment.
    • 38% of mobile phone users had deposited a check using their phone.

Financial apps have made it faster and easier than ever to access your money on the go, and view all your financial information right from the palm of your hand.  But, what dangers could arise if you are one of the 5.2 million people who, in a year’s time, lose their smart phone or have their smart phones stolen? How can you protect your finances in the event that your cell phone ever goes missing?

Before your phone is ever compromised, take these precautions to prevent strangers from accessing your phone or the programs and apps it holds.

Passcode Protection: 62% of smartphone owners don’t have a passcode set to protect their phone. You should always set your phone or mobile device to lock when it’s not in use, and set a secure passcode or password for access to your phone. Some smartphones now let you take security even further and utilize your thumbprint or facial recognition to unlock your phone.

Activate Find My Phone: The Find My Phone feature on your smartphone allows you to quickly trace your phone’s location if it ends up missing. Your operating systems may also offer a lost mode. With this feature, you can send a message to your home screen asking anyone who finds your phone to call to you at a specified number.

If your smartphone is lost, quick action can be the difference between saving your financial information or months of headache if your accounts are accessed by a stranger. Take these actions as soon as you realize your phone is gone.

Contact Your Financial Institution: Let your financial institution, credit card companies, and lenders know your phone or device is missing and someone may have access to your account information. They can flag your account as “compromised,” freeze your accounts, or monitor suspicious activity.

Change Your Passwords: Use your desktop computer or another mobile device to reset the passwords for your online banking or payment tools. Also reset your email password. This way if someone uses the “Forgot My Password” feature on any financial app or website, they cannot access your email and reset your passwords themselves.

A Final Tip: Always log out of financial websites or apps before you close out of them. Keeping yourself logged in or enabling auto sign-in means that your information is easily accessible, even if you’re not the one holding your device.

If you feel that any of your First Financial accounts may have been compromised as a result of a lost or stolen cell phone, please contact our Member Relationship Center at 732-312-1500, Option 9 Monday through Thursday 8:30am-5pm EST, Friday 8:30am-6pm EST, or Saturday 9am-12:30pm EST.

Article Source: Kara Vincent for CUInsight.com

Watch Out for Card Skimming at Gas Pumps

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The FTC is warning drivers about skimming scams at the pump. Typically, we New Jersey drivers don’t pump our own gas – but if you plan to take any Fall road trips to enjoy the foliage in another state, you might want to be on the lookout for the following gas pump scam.

Skimmers are illegal card readers attached to payment terminals. These card readers grab data off a credit or debit card’s magnetic stripe without your knowledge. Criminals then sell the stolen data or use it to buy items online. You won’t know your information has been stolen until you get your statement or an overdraft notice.

Here are a few tips to help you avoid a skimmer when you fuel up out of state:

Make sure the gas pump panel is closed and doesn’t show signs of tampering. Many stations now put security seals over the cabinet panel. If the pump panel is open, the label will read “void.”

Look at the card reader itself. Does it look different than other readers at the station? For example, the card reader on the left has a skimmer attached, the reader on the right does not.

Try to wiggle the card reader before you put your card in. If it moves, report it to the attendant. Then use a different pump.

  • If you use a debit card at the pump, run it as a credit card instead of entering your PIN. That way, the PIN is safe and the money isn’t deducted immediately from your account if there is a card skimmer attached. Better yet, if you have a credit card on you – use that instead.
  • If you’re really concerned about skimmers, pay inside rather than at the pump.
  • Monitor your credit card and bank accounts regularly to spot unauthorized charges.

If you feel that any of your First Financial accounts may have been compromised as a result of a scam, please contact our Member Relationship Center at 732-312-1500, Option 9 Monday through Thursday 8:30am-5pm EST, Friday 8:30am-6pm EST, or Saturday 9am-12:30pm EST. Learn more about card skimming by checking out our YouTube Video.

Article source: Colleen Tressler for the Federal Trade Commission