Do you remember when a personal theft meant having your purse or wallet stolen?   Now thieves are high tech and everyone is at risk.  Many thieves find it more lucrative to steal information about you rather than cash or a physical item.  The information thieves are looking for include your social security number, your credit card number and extra security digits, your ATM or debit card number with your PIN, and your online bank account access ID and password.   
 
How can you keep yourself safe?  Be suspicious any time an individual or “company” makes an unsolicited request for your information.  Even when the request seems to be from a legitimate source, don’t provide your personal information if you did not initiate the contact.   The requests can be made by voice call, email, website link, voicemail, and text messaging.  For more information on these schemes, read on:

A smishing attack begins when crooks trick consumers into turning over personal information by sending dishonest voicemail or text alerts to mobile devices, often deceitfully warning of fraudulent activity to mimic a security alert that a real bank would send.
The victims that receive the text might then call a phony “bank” number manned by criminals using software to set up fake voice operated customer service systems.

Be cautious about sharing your personal information.
The smishing message usually contains something that wants your "immediate attention", an example of a smishing attempt:  
"Notice - this is an automated message from (a financial institution, credit card company, etc.), your credit card has been suspended. To reactivate, you must call 866-###-#### immediately" (a fake #)

In many cases, the fraudulent smishing message will show that it came from "5000" instead of displaying an actual phone number or from a company domain. This usually indicates the message was sent via email to the mobile phone, and not sent from another mobile phone.  This information is then used to duplicate credit/debit/ATM card information.
Smishing is closely related to vishing, in which fraudulent voice phone calls to mobile phones lure consumers into sharing personal data information.  

As always, you can take steps to protect yourself.  If you notice anything suspicious, notify your financial institution and local police department immediately for further instruction.  Together we can fight fraud.  

The Fact Act

Fair and Accurate Credit Transactions Act, passed by Congress, allows all individuals the right to check their credit report once every year.

You can obtain a FREE credit report once a year from each of the credit reporting agencies - Experian, Equifax and Trans Union.

ONLINE AT:
www.AnnualCreditReport.com

TOLL FREE AT:
877.322.8228

Read FDIC's free publications to become better informed.

ONLINE AT:
www.fdic.gov/consumers/consumer/index.html

Your Decorah Bank Bancard credit card information is available online.

You can:

·       View your credit card information including charges, payments, and credit

·       Make payments without ever writing a check

·       Access your credit card account information securely

ONLINE AT:
https://www.nobel-net.com/bancardcenteronline/GetLoggedIn/Welcome.asp

Protect yourself from payment fraud by exercising caution when accepting cashier checks, money orders, traveler’s checks, online payments, credit card payments or wires – as these monetary instruments are currently being used in scams.

KNOW with whom you are doing business.  “If it seems too good to be true, it probably is!”

TALK with us if you are the least bit suspicious about the authenticity of any item you are depositing.  We can help you verify its authenticity.  We don’t want you to be at risk of an overdrawn account because of fraud.

TAKE the cashier check or other monetary instrument you receive as payment to a branch of the bank on which it is drawn if possible.  That bank is in the best position to determine the check’s authenticity.

NEVER use the phone number or mailing address on the monetary instrument to verify its authenticity.  Always use a more reliable source to get contact information, such as a phone book or phone information services.  When online, consider using separate search engines and compare contact information.  Don’t use the link or email address provided.

REMEMBER that online fraud is just as prevalent.  A best practice is to know whom you are dealing with and personally ask to verify the safety of the email, link, or web address before clicking on it.

 Fraud Victims Should…
File a report with local law enforcement.
File a complaint with the Iowa Attorney General at 1 888-777-4590.
Work with your bank on repayment options if the reversal of the deposit has overdrawn your account.

Click here for steps you can take: How To Protect Yourself From Fraud (pdf)

Decorah, Iowa – You understand GPAs and test scores but do you understand your credit score or the value of saving?  Maybe you should read this just to be sure.  Decorah Bank’s top 10 tips are designed to provide an edge on mastering your personal finances. By following these simple tips, you’ll be setting yourself up for a great college experience.

Click here for Personal Finance 101 for college students.