Security Tips from American Bank

Detecting Fraud

 Monitor your account regularly

  • Frequently review your account activity online to quickly detect fraud and identity theft.
  • Among some of the benefits of frequent account monitoring online are:
    • Over 50 percent of all identity fraud is first discovered by the victim
    • The sooner fraud is detected, the lower the financial impact
    • Customers who access their accounts online detect identity crime earlier than those who rely on mailed statements
    • Customers who choose to receive electronic statements instead of mailed statements reduce their risk of mail fraud

Learn how to recognize fraud

  • Below are some tips for recognizing whether you have possibly been a victim of identity theft:
    • If you find new accounts on your credit report that are not yours. A recent amendment to the federal Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer reporting companies to provide you with a free copy of your credit report, at your request, once every 12 months. Visit www.annualcreditreport.com.
    • If you did not receive an expected bill or statement by mail
    • If unexpected charges occurred on your account
    • If there are charges on your account from unrecognized vendors
    • If posted checks appear on your account significantly out of sequence
    • If you receive credit cards that you didn’t apply for If you are denied credit or are offered less than favorable credit terms for no reason
    • If you get calls from creditors or debt collectors regarding merchandise or services that you did not buy

Check your credit report annually

  • For a free copy of your credit report, at your request, once every 12 months, visit www.annualcreditreport.com.
  • The Federal Trade Commission (FTC), the nation’s consumer protection agency, has prepared a brochure, “Your Access to Free Credit Reports”, explaining your rights and how to order a free annual credit report. Visit the FTC’s website at www.ftc.gov/bcp/edu/microsites/freereports/index.shtml .

Alert a credit bureau with your concerns

  • If you suspect you might be a victim of identity theft, contact the three major credit bureaus listed below to place a fraud alert on your credit file. You also can order a credit report to identity any unauthorized activity:
    • Equifax: 1-800-525-6285
    • Experian: 1-888-397-3742
    • Trans Union: 1-800-680-7289