Security

Identity Theft

What is Identity theft:

Identity Theft, also called "account takeover fraud" or "true name fraud," involves criminals stealing personal credit information about individuals and assuming their identities by applying for credit cards in their names, running up huge bills, stiffing creditors and generally wrecking victims' credit histories.

What Identity Thieves Do With Your Information:

Identity thieves frequently open new accounts in your name. They often apply for new credit cards using your information, make charges, and leave the bills unpaid. It is also common for them to set up telephone and utility service in your name and not pay for it. Some victims have found that identity thieves applied for loans, apartments, and mortgages. Thieves have also been known to print counterfeit checks in a victim's name.

Thieves also often access your existing accounts. They may take money from your bank accounts, make charges on your credit cards, and use your checks and credit to make down payments for cars, furniture, and other expensive items. They may file for government benefits including unemployment insurance and tax refunds.

Unfortunately, thieves often use a stolen identity again and again. It is very common for victims to learn that thieves have opened and accessed numerous accounts, often over a long span of time.

How Identity Theft Happens:

Four out of five victims have no idea how an identity thief obtained their personal information. However, we know that the following methods can be used to acquire key pieces of personal information that is then used in identity theft:

Theft of your purse, wallet or checkbook.
Dumpster diving or going through your trash.
Removing mail from your mailbox, drop box, businesses, and even directly from postal workers.
Phishing - Obtaining information by various scams and fraudulent websites.
Hacking - Illegally gaining access to computer systems containing personal or financial data.
Pretext Calling - Using false pretenses to obtain information via telephone.
Often identity theft is committed by someone you know. Roommates, hired help, and landlords all have access to your home, and it is possible for them to access private information. Identity theft within families is also fairly common.
Identity thieves may change "your" address on an account so that you won't ever receive the bills with the fraudulent changes on them.

Steps to Prevent Fraud:

At Home

Keep personal information safe (locked away in a drawer or file cabinet).
Shred any papers with confidential information before you throw them out - even the junk mail. Remember that anything with an account number on it can be used in identity theft.
Carry as few cards with identification and personal information (Social Security cards, passports, or birth certificates) as possible in your purse or wallet.
Be wary of any mail, telephone, or internet request for information - it could be "pretexting."
CBBC Bank will never call and ask you for your information, we already have it. However, we will ask verifying information if you call us so we can properly identify you.
Unless you initiated contact with a business, don't give out any confidential information.
Check your banking and credit statements soon after you receive them and make sure there is no unexplained activity.
Keep track of what time during the month each of your bills usually arrives. If a bill does not arrive on time, call the company to make sure no changes have been made to your account.
Notify your bank and other creditors as soon as possible when you have a change of address.
Report lost or stolen checks immediately so that stop payments can be placed. Report lost or stolen checks to CBBC Bank at 865-977-5925.

Out of the Home - Shopping and Services

When signing a credit card slip, avoid putting your address, telephone number, or driver's license number on it.
Always take your receipts with you to shred them at home because "dumpster diving" is very common at large retail areas, such as malls.
Be particularly wary of giving out your social security number.
When mailing bills and credit card payments, take them to the post office directly rather than leaving them in a mailbox for pick up.
Get a copy of your credit report annually.

Common Fraudulent Scams

Everyone is subject to fraudulent schemes and con games. Older people in particular seem to be frequently targeted, perhaps because as a group they tend to be more trusting of others and assume the same sincerity in return. Below are some typical financial frauds and scams and suggestions on how to protect yourself and your money.

Fraudulent Telemarketers

Watch out for fraudulent telemarketers! They may start with a postcard, email, or text promising cash and prizes if you call an "800" or "900" number. If you make the call, a friendly voice will ask for your credit card number to "verify" your identity, followed by the high-pressure tactics to get you to buy merchandise with your credit card. Later, you may be billed several times, or you may never receive the merchandise at all.

To protect yourself, ask for written information on products and services offered before you order them.

Fake Orders for Magazine Subscriptions

People selling magazine subscriptions may "offer" an extremely low price which is only available if you pay with a credit card. Repeatedly, terms like "verification", "identification", or "process" will be used to try to get you to reveal your credit card number. Upon obtaining the number, the con artist will use it to place fake orders.

Never give anyone your credit card number on the phone unless you made the call to place an order or to make a donation. Do not make a donation to an unknown charity. Check with the Better Business Bureau to see if the organization complies with their standards.

Investment Fraud

Investment frauds are usually carried out on a hit-and-run basis. These scams may involve the selling of coins, oil and gas leases, precious metals and gemstones. The caller will flatter you as a "smart investor" who can recognize a good deal, then confide that if you sign up quickly you can get in on a great "opportunity." Remember these salespersons are professionals and gifted at getting people to believe them.

When someone calls with an investment opportunity, get the name, address, and phone number of the company. Request references and written materials. Always read carefully before signing. Check with the Better Business Bureau, the Bureau of Consumer Protection, or perhaps your bank or investment firm.

There Has Been a Charge on Your Account

This is a common scam where you will receive an email or text message claiming to be a company or your bank. The message will say there was a large dollar charge that has gone through and you need to click on the link to verify or cancel the charge. Clicking on the link will take you to a seemingly legit website where you will enter your login information or credit card information to "sign in" and check the charge.

If you receive one of these messages and are concerned, the best thing to do is call your financial institution from a number you know to be valid to check if any such charge exists.

Tech Support Scams

Fraudsters may reach out to you via email, text message, or even phone calls pretending to be from a large well known company in their "tech" department. They will inform you that there has been a security breach and your funds are in danger of being lost. They will convince you to download a remote access software so they can use your computer to "show" you what has happened. They will often convince the victim that in order to safeguard their funds they need to buy gift cards from local stores and provide those gift card numbers to the scammers so they can "secure the funds".

No business, financial institution, or government agency will require you to buy gift cards in order to secure your funds. If you ever hear this, it is a scam and you will want to end all contact with the person. They will often call you repeatedly to try and get your money.

Fake Contests

Fake contests are a prevalent form of mail fraud. You get a notice saying you have won a "free" trip, a TV, or even a car. To redeem your prize, you should send "X" number of dollars or bring the money to a certain place. In reality, prizes frequently do not exist, or even if they do , only a very small number of them will be awarded.

Watch out for prizes that you have to pay for. Carefully examine any letters that look official or urgent.

The FTC, the nation's consumer protection agency, suggests these tips to help you avoid getting hooked by a phishing scam:

If you get an email or pop-up message that asks for personal or financial information, do not reply or click on the link in the message. Legitimate companies don't ask for this information via email. If you are concerned about your account, contact the organization in the email using a telephone number you know to be genuine, or open a new internet browser session and type in the company's correct Web address. In any case, don't cut and paste the link in the message.

Don't email personal or financial information. Email is not a secure method of transmitting personal information. If you initiate a transaction and want to provide your personal or financial information through an organization's Web site, look for indicators that the site is secure, like a lock icon on the browser's status bar or a URL for a website that begins "https:" (the "s" stands for "secure".) Unfortunately, no indicator is foolproof; some phishers have forged security icons.

Review credit card and bank account statements as soon as you receive them to determine whether there are any unauthorized charges. If your statement is late by more than a couple of days, call your credit card company or bank to confirm your billing address and account balances.

Use anti-virus software and keep it up to date. Some phishing emails contain software that can harm your computer or track your activities on the internet without your knowledge. Antivirus software and a firewall can protect you from inadvertently accepting such unwanted files. Antivirus software scans incoming communications for troublesome files. Look for antivirus software that recognizes current viruses as well as older ones; that can effectively reverse the damage; and that updates automatically.

A firewall helps make you invisible on the Internet and blocks all communications from unauthorized sources. It's especially important to run a firewall if you have a broadband connection. Finally, your operating system (like Windows, Linux, MacOS, iOS, Android) may offer free software "patches" to close holes in the system that hackers or phishers could exploit.

Be cautious about opening any attachment or downloading any files from emails you receive, regardless of who sent them.

If you believe you've been scammed, file your complaint at www.ftc.gov, and then visit the FTC's identity theft website at https://ftc.gov/idtheft to learn how to minimize your risk of damage from ID theft. Visit www.ftc.gov/spam to learn other ways to avoid email scams and deal with deceptive spam. The FTC works for the consumer to prevent fraudulent, deceptive, and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them.

To file a complaint or to get free information on consumer issues, visit https://www.ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters internet, telemarketing, identity theft, and other fraud-related complaints into Consumer Sentinel, a secure, online database available to hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.

Fraud Seminars

CBBC Bank conducts fraud seminars to educate the public!

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Your Credit Report

What is your credit report?

A credit report is a picture of your credit, debit and payment history. When you apply or credit such as a credit card or a car loan, this is reported to one or more of the major credit bureaus and a file is established in your name. Your credit file will document: credit inquiries made on your file by credit providers, employers, insurance companies and government agencies (usually within the past two years), public record information such as bankruptcies, judgements and tax liens.

Three main national credit bureaus and how to contact them.

EQUIFAX

P.O. Box 740241

Atlanta, GA 30374

800/685-1111

www.equifax.com
EXPERIAN
National Consumer Assistance Center

P.O. Box 2002

Allen, TX 75013

888/397-3742

www.experian.com
TRANSUNION
P.O. Box 2000

Chester, PA 19022

800/888-4213

www.transunion.com

All of the creditors you deal with will report your information to at least one of these agencies, and your credit report is continually updated.

Your credit report cannot be viewed by anyone who does not have a legitimate need for viewing it.

What is in a Credit Report?

Credit bureaus collect many types of information about you in your credit file. This includes:

Where you live
Where you work
How you pay your bills
If you have been sued
If you have been arrested
If you have filed for bankruptcy

What information is collected for my Credit Report?

1.) Your Identification and employment information:

Name
Social Security Number
Date of Birth
Current and previous addresses
Telephone number
Current and previous employers

2.) Payment History: All of the credit accounts you have had within the past 10 years appear on your credit report:

Types of credit accounts:

Mortgages
Bank and retail credit cards
Bank loans
Financial company loans

Information collected on these:

Your name and account number
Date account was opened or closed
Amount borrowed and amount still owed
Credit limit
Timeliness of payments

3.) Inquiries: A list of people who have requested your credit report other than you, including:

Lenders within the past year
Potential employers within the past two years

4.) Public Record Information:

Bankruptcy
Foreclosure
Judgements, including child support judgements
Tax liens
Criminal convictions

Most of this information, as well as information on your various credit accounts, will be on your report for seven years. Personal bankruptcies will be reported for 10 years. Correct information, even if it negatively reflects on you, cannot be removed by anyone. While many con men will have you believe that they can remove negative information on your credit report for a fee, only the passage of time will achieve that result.

How can I get a copy of my Credit Report?

Many people don't realize they are victims of identity theft until long after the initial crime occurred. Identity thieves often try to hide the crimes for as long as possible so that they can access more money. To stop the crimes as soon as possible, make sure you carefully check your credit reports regularly. Your credit reports are important tools for limiting the amount of damage a thief can cause.

Get a free credit report by contacting the following:

By website: www.annualcreditreport.com
By phone: 1-877-322-8228
By mail: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 03048-5281

Once you receive the credit report do the following:

Check to make sure you are aware of all accounts listed, and balances are what you expect them to be.
Look for anything suspicious in the section that lists who has received a copy of your credit history. Some identity thieves "pre-text" by posing as a landlord or employer.
Make sure no inquiries have been made about loans or leases you didn't apply for.
Check for addresses where have never lived.
Check to make sure your social security number is correct.
If there is any incorrect information in the records, contact the credit bureaus (information listed below), creditor, employer, or government agency immediately. Follow up with a letter describing what actions were taken. Your protections are usually stronger if you report the problem quickly and in writing.

What if I notice an error on my report?

Since credit information is collected from a variety of sources, errors do occur. It is important to check your credit report periodically and address errors immediately. Serious errors could affect your ability to obtain a loan, insurance or even a job or could affect your credit rating, which in turn would mean that you might have to pay a higher interest rate when you borrow money.

You should check the following areas to make sure that the information reported on your credit report is correct:

Look for misspelling of your name or error in your birth date or Social Security number.
Make sure the same loan is not listed more than once.
Look for omissions, such as the fact that you paid off a delinquent account or resolved a legal matter.
Make sure accounts that are closed are actually listed as closed.
Look for "mixed" information, such as information about Robert Jones, Sr. on the report of Robert Jones, Jr.
Look for old addresses, employers or a previous spouse's information that should be removed from the report.

If you find errors on your report, you can dispute them at no cost. Details on how to dispute an error are included with your credit report, but basically you should notify in writing the consumer credit reporting company (Experian, Equifax, or TransUnion) as well as the person or company who provided the information of the error. Be as detailed as possible, providing copies of documents as needed. Send your letters certified mail, return receipt requested and keep a copy for your records.

The agency is responsible for investigating and modifying or removing inaccurate data; this process may take as long as 30 days. At your request, the agency must also reissue corrected reports to lenders who received your report within the past six months, or employers who received it in the last two years.

If you are not satisfied with the correction, you have the right to add a brief statement to your credit report about the disputed data. Your statement should be used to clarify inaccuracies, not to explain reasons for delinquency.

Should you be denied credit because of information in your report, the lender is required to give you the name, address, and telephone number of the bureau that produced the report.

You then have 60 days to request a free copy of your report.

Fraud Awareness Starts Here