Armor Up Against Identity Fraud

Fraudsters these days are more conniving and persuasive than ever before. But, you can keep your identity and your finances secure all year round by securing your personal information and being mindful when interacting with others. This quarter, we’re here to help you armor up with a few tips from our Information Security and Fraud teams.

Lock Up Your Logins

Fraudsters are often after your login credentials first – once they get access to your accounts, they can take a deep dive into committing fraud. Here’s how you can keep those credentials safe and sound:

• Use strong, unique passwords: Never reuse passwords. Once a password becomes compromised, fraudsters can target any other accounts that use the same password. The strongest passwords use a combination of letters, numbers and special characters. They also do not use common personal information such as your Social Security Number, first and last name and date of birth.

• Enable Secure Access Code (SAC): SAC is a security process that requires more than one method of authentication to verify your identity. Some websites use SAC by requiring a “One-Time Password (OTP)” or security code upon log-in, which is sent to you via text or email. You can also use third-party apps to create your own SAC for certain accounts. Using SAC reduces your risk of online fraud.

• Never share secure information: Protect your usernames and passwords by never sharing them with others or writing them down. ASB will never request your password, Debit Card PIN, or Secure Access Code via phone, e-mail, or text. When in doubt, report immediately any suspicious activity to our Customer Banking Center at (808) 627-6900 or toll-free (800) 272-2566.

Stop, Look, then Go

Imagine the steps you take at a busy intersection. You stop at the stop light or sign, look both ways, then go. Applying these same steps to your everyday finances can prevent you from becoming a victim to fraud. Here are a few examples:

• Suspicious Activity: If anyone asks you for private information or to send and receive money, ask yourself these questions:

  • Have I met the person or organization that’s contacting me?

  • If yes, is this how they normally contact me?

  • What information is this person or organization asking for, and why?

• Alert, Alert: Received an alert about suspicious activity, but something doesn’t look right? When in doubt, contact your financial institution. Just make sure to use the phone number on their actual website or your bank statement.

• Phishy Checks: Getting a check that you want to deposit? Make sure it’s a physical check, even if you want to deposit it using your mobile app. Fraudsters often try to send photos of checks via email and text messages – a clear red flag that something is wrong.

• Destroy the Evidence: Instead of holding onto old checkbooks, debit cards, credit cards and financial documents, shred items you no longer need to keep your information secure. Our Online and Mobile Banking services offer an eStatement feature which allows you to receive your bank statements electronically so that you have one less thing to worry about.

• Minimize Social Shares: Be careful with what you share on social media, such as Instagram, Facebook, Twitter and LinkedIn. Fraudsters sometimes use details from your posts as clues to guess your User ID, Password and other private information.

Visit our security hub to learn more about how you can protect yourself and your finances.

American Savings Bank will never request your password, Debit Card PIN, or Secure Access Code via phone, e-mail, or text.