Resourceful identity thieves may contact you in any number of ways, including over the telephone or via voice mail, email and texting. Fortunately, following a few simple precautions can help you avoid banking related identity theft and its consequences.

When trying to prevent banking related identity theft, the key is to remain vigilant: Many of these messages look and sound like authentic bank communications. However, they are all are attempts to gain access to your personal data and ultimately, compromise your bank accounts.

Fortunately, there is one thing all of these attempts have in common: they all try to elicit information in a manner that no legitimate banking institution ever would.

Be Cautious if You’re Ever Asked For:

• Your complete debit or credit card number – or your complete social security number.*

• The three digit number found on the back of your debit or credit card.

• Your personal identification number (PIN).

• User name and/or password.

• Security question and answer (e.g. mother’s maiden name, where you were born or spent your honeymoon, etc…).

Rest assured, your bank already has your card information and social security number on file. (*You will most likely be asked to confirm the last 4 digits, however). On the other hand, banks do not have access to your Personal Identification Number (PIN) – and for good reason.

It’s PERSONAL – and should stay that way.

If You Receive a Fraudulent Message – What Should You Do?

First and foremost – DO NOT ANSWER any questions re: the information noted above. Instead, contact your bank or other financial institution directly using a telephone number from a statement, the back of a debit or credit card or from a telephone book.

If, however, you’ve already responded to one of these messages, contact your banking or financial institution immediately to discuss your options.

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Your credit rating forms the bedrock of your financial life. If you are the victim of identity theft, your credit rating – and quality of life – can be ruined.


Without a good credit rating, it is difficult to buy a house, open a bank account or even get a new job.   Therefore, protecting your personal information is of utmost importance.   Unfortunately, we live in a era where the unscrupulous can easily commandeer everything from your credit and bank accounts to your actual identity.  Millions of Americans fell victim to identity theft last year  and paid a heavy price in terms of  time, money and aggravation.

It is estimated that the average identity theft victim spends nearly $1400 and 175 hours cleaning up his or her credit report.   While it is difficult to protect yourself completely, there are a number of things you can do minimize the damage, both before and after you find your personal information has been compromised.

For 5 tips to minimize the damage of identity theft, click here.

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