• Identity Theft
• Consumer Alerts

IDENTITY THEFT

No matter how careful you are, you can still become a victim of identity theft.

Each day, criminals find new ways to steal personal information, like Social Security and driver’s license numbers, so they can take over existing accounts and open fraudulent new ones.

"Vishing" emerges as newest identity theft risk......

As customers receive more education about identity theft risks, thieves develop more ways to trick people anew.

The newest identity theft risk is called "vishing," a variation of phishing in which customers are sent bogus emails, but instead of being asked to click on a link and type in their account or identifying information, they are directed to a bogus automated phone number and asked to provide their credit card or personal information over the phone. As customers are directed to enter their account number or identifying information with the phone keypad, the bogus phone recognized the keystrokes and collects the information. There also are reports of a type of vishing scam in which initial contact is made by phone, not email. In those instances, customers are tricked into providing the three- or four-digit security code on their credit card.

Vishing scams are on the rise due to Voice over Internet Protocol (VoIP), which allows thieves to obtain cheap phone numbers anonymously, and trick caller ID boxes into displaying false or erroneous information.

Although only a few cases have been reported, this practice is expected to grow. Banks should encourage their customers to call the number on the back of their credit cards when they have a question or problem. If customers receive a phone call from someone asking them to verify account or personal information over the phone, they should hang up and call the number on the back of their credit card, or call their financial institution, and verify that there is a legitimate issue.

....but education and assistance keep pace

The latest identity theft news may sound grim, but as scams evolve so does the education to keep consumers one step ahead of the con artists. The Federal Trade Commission has developed a new education program "Avoid Theft: Deter, Detect, Defend", to help consumers avoid becoming identity theft victims. Visit the program's website at www.consumer.gov/idtheft/. ICBA also provides links to various identity theft resources at www.icba.org. Go to Advocacy in the navigation menu to the left, then click on Identity Theft.

IDENTITY THEFT - when your personal information is stolen by a criminal who uses it to commit fraud in your name, leaving you with the burden of proving your innocence.

Deterring Identity Theft

• Be careful about disclosing information to strangers via the Internet, telephone, applications or through the mail.
• Be especially cautious when sharing information over the Internet. Make sure Web sites have a closed padlock icon in the corner of the screen before submitting data.
• Avoid using obvious passwords and personal identification numbers on your computer and credit/debit cards.
• Copy the contents of your wallet or purse and keep them in a safe place.
• Report lost or stolen checks or credit cards immediately.
• Pay attention to billing cycles for missing bills.
• Don't carry your Social Security card or birth certificate.
• Examine statements for unauthorized charges.
• Shred or destroy credit card offers and other documents that contain personal information.

If you fall victim to identity theft

Sometimes identity thieves can strike even if you've been careful about protecting your personal information. The most important thing you can do if someone steals your identity is to act quickly. Identity thieves can cause a lot of damage in a short amount of time.

Don't Be an On-line Victim: How to Guard Against Internet Thieves and Electronic Scams

Some of the steps outlined in the presentation that you can take to help safeguard your computer and your personal information from identity theft are: never provide personal information in response to an unsolicited telephone or Internet request; never provide a password over the phone or in response to an unsolicited Internet request; review account statements regularly to ensure all charges and transactions are correct; and use a firewall and anti-virus and spyware protection software.One of the more frustrating aspects if identity theft occurs is restoring your good name and credit. If you either suspect that their personal information has been compromised, or have been victimized by identity thieves, you should: contact the fraud department at one of the three major credit bureaus and ask that a fraud alert be placed in their file at all three companies; review their credit reports periodically and carefully and look for inconsistencies or red flags such as accounts they didn't open; debts they can't explain or inquiries from companies they haven't contacted, contact the companies where the fraudulent activity occurred, and follow up any telephone calls in writing; file a police report with local police or the police department in the community where the crime took place and keep a copy of the report; and file a complaint with the Federal Trade Commission.

Consumers can access additional information through the FDIC's website at http://www.fdic.gov.

Help for victims of identity theft

1. Contact the fraud departments of the 3 major credit bureaus:
   • Equifax : 1-800-525-6285 or www.equifax.com
   • Experian: 1-888-397-3742 or www.experian.com
   • TransUnion: 1-800-680-7289 or www.transunion.com
2. Notify your financial institution.
3. Inform your credit issuers.
4. File a police report with your local law enforcement

For additional information and advice you can call the Federal Trade Commission (FTC) Identity Theft Hotline toll free at 1-877-IDTHEFT (438-4338) or visit the following websites:

• National Resource for Identity Theft
• Identity Theft Resource Center
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CONSUMER ALERTS

March 19, 2009

As part of the MBA's partnership with the Minnesota Fraud Enforcement Partnership, we want to let you know about current scams that may be affecting you, our customer. Attached is a news release that the Minnesota Department of Public Safety released recently about the "Grandparent Scam" which is popular during the Spring Break time of year.  Please click here for more information.

FDIC Rolls out Deposit Insurance Awareness Campaign
Personal Finance Expert Suze Orman Featured in PSAs

FOR IMMEDIATE RELEASE
September 22, 2008

The Federal Deposit Insurance Corporation (FDIC) today launches a national campaign designed to help consumers learn about the benefits and limitations of deposit insurance. The campaign's public service announcements (PSAs) will feature personal finance expert Suze Orman.

"For 75 years, no one has ever lost a penny of insured deposits," said FDIC Chairman Sheila Bair, "but as with any type of insurance, depositors are responsible for knowing how FDIC coverage works in order to ensure their money is protected. While awareness of the FDIC is high, understanding of deposit insurance is not. We want to encourage people to learn the basics and provide reassurance that, if they are within the coverage limits, their money is 100 percent safe."

The public awareness campaign encourages Americans to visit myFDICinsurance.gov, where they can use EDIE the Estimator, an online tool that provides customized information about their insured accounts. The estimator has been available to the public for a number of years, but was simplified and made more accessible as part of this campaign. Those without online access may call toll-free 1-877-ASK-FDIC for assistance.

"No one should ever lose a penny of their deposited money, but Americans need to take the time to look at their accounts to ensure they're covered," said Suze Orman. "I have donated my time to this FDIC campaign because I want everyone to go to EDIE the Estimator and follow the simple steps to make sure their money is 100 percent FDIC protected."

Basic FDIC insurance covers up to $100,000 of deposits per account holder per bank, and up to $250,000 per account holder for deposit retirement accounts. myFDICinsurance.gov provides information about how these limits work.

"We're encouraging consumers to find out if all their money is FDIC protected, and we're providing them the tools to do so," said Chairman Bair.

March 18, 2008

The Federal Deposit Insurance Corporation (FDIC) has received numerous notifications from consumers of an e-mail that gives the appearance of being sent from the FDIC. The "From" line of the e-mail displays the name "Federal Deposit Insurance Corporation " and the subject includes the words "Consumer Protection."

Current versions of the fraudulent e-mail state:

"Who is FDIC?

The Federal Deposit Insurance Corporation (FDIC) preserves and promotes public confidence in the U.S. financial system by insuring deposits in banks.

What can FDIC do for you?

Despite the efforts of law enforcement, Identity theft is becoming more sophisticated and the number of new victims is growing. In general, consumers are protected against liability for unauthorized accounts or transactions under federal and state law and by financial industry practices. Identity Theft can affect consumers in many ways, thats [sic] why FDIC is presenting a new card insurance which can restore you up to $500 if you are a victim of internet fraud.

Learn more about Consumer Protection > Card Insurance:
Clicking here will redirect you to a online signup page for this program."

The e-mail requests that recipients click on a hyperlink that is provided. This directs the recipient to a "spoofed" Web page requesting the user to enter personal information to receive $500 of "card insurance." The requested information (name, phone number, Social Security number, address, card number, bank name, card expiration date, card verification code, and electronic signature/ATM PIN) could be used to perpetrate identity theft and gain unauthorized access to bank accounts. Be aware that the appearance of the fraudulent e-mails can be modified and that additional variations are possible.

Consumers should NOT access the link provided within the body of the e-mail and should NOT, under any circumstances, provide any personal financial information through this media.

The FDIC has shut down the fraudulent Web site and is investigating the source of the e-mails. Consumers are asked to report any similar attempts to obtain this information to the FDIC by sending information to alert@fdic.gov.

Information about counterfeit items, cyber-fraud incidents and other fraudulent activity may be forwarded to the FDIC's Cyber-Fraud and Financial Crimes Section, 550 17th Street, N.W., Room F-4004, Washington, D.C. 20429, or transmitted electronically to alert@fdic.gov. Questions related to federal deposit insurance or consumer issues should be submitted to the FDIC using an online form that can be accessed at http://www2.fdic.gov/starsmail/index.asp.

For your reference, FDIC Special Alerts may be accessed from the FDIC's website at www.fdic.gov/news/news/SpecialAlert/2008/index.html. To learn how to
automatically receive FDIC Special Alerts through e-mail, please visit www.fdic.gov/about/subscriptions/index.html.

October 06,2006

The Federal Deposit Insurance Corporation (FDIC) has become aware of fraudulent e-mails appearing to be from the FDIC. The e-mails ask recipients to click on a hyperlink titled "Take the Corrective Action - Implement the LinkBank System." When accessed, the hyperlink takes the individual to a "spoofed" FDIC Web page. At that point, the individual is directed to provide online banking information, including bank name, username, and password.

The fraudulent e-mails appear in "memo format" and are purportedly from "Russell A. Rau, Assistant Inspector General for Audits." The e-mails include a "Subject" line that states: "Division of Supervision and Consumer Protection's Risk-Focused Compliance Examination Process for [recipient's name inserted] (Report No. 05-038)."

The FDIC does not directly contact consumers in this manner, nor does the FDIC request personal financial information from consumers. Financial institutions and consumers should NOT access the link provided within the body of these e-mails and should NOT, under any circumstances, provide any personal financial information through this medium.

Financial institutions and consumers should be aware that other similar e-mails may be sent that falsely claim to be from the FDIC.

The FDIC is attempting to identify the source of the fraudulent e-mails and disrupt the transmission. Until this is achieved, consumers and financial institutions should notify the FDIC at alert@fdic.gov of any similar attempts to obtain personal financial information.

August 16, 2006

The Federal Deposit Insurance Corporation (FDIC) has received numerous notifications from consumers of an e-mail that has the appearance of being sent from the FDIC. The "From" line of the e-mail displays the name "Federal Deposit Insurance Corporation" and the subject includes the phrase "IMPORTANT: Notification of Federal Deposit Insurance Corporation."

The e-mail states that the FDIC received an application. It says, in part:

".from your bank to ensure your Checking or Savings account against Fraud, phishing or Identity Theft. If u agree with the following, PLEASE ENROLL in the FDIC protection system."

The e-mail is fraudulent and was not sent by the FDIC. It is an attempt to obtain personal financial information from consumers. The e-mail requests that recipients click on a hyperlink that is provided, which directs the recipient to a "spoofed" Web page. The Web page appears to belong to the FDIC and requests information, such as: name, phone number, Social Security number, mother's maiden name, driver's license/issuing state, date of birth, e-mail address, postal address, credit/debit/ATM card number, card expiration date, card verification number, personal identification number (PIN), bank name, bank routing number, and bank account number.

Financial institutions and consumers should NOT access the link provided within the body of the e-mail and should NOT, under any circumstances, provide any personal financial information through this media.

The FDIC is attempting to identify the source of the e-mails and disrupt the transmission. Until this is achieved, consumers are asked to report any similar attempts to obtain this information to the FDIC by sending information to alert@fdic.gov .