ABA Provides Tips for Consumers Following Recent Data Breach

WASHINGTON, June 5, 2015 /PRNewswire-USNewswire/ -- In light of the recently reported breach of a federal agency's network, the American Bankers Association is reminding bank customers to take an active role in protecting their accounts. Banks use a combination of safeguards to protect customers, which allows them to detect unusual spending patterns and protect accounts.

"Banks' first priority is protecting their customers," said Frank Keating, ABA president and CEO. "While banks provide strong data protections, customers can also take steps to protect their accounts. Following a massive data breach, a partnership between banks and customers is the most effective way to protect financial data."

In the event of a data breach, ABA suggests following these tips:

• Report any suspected fraud to your bank immediately.
• Use online banking to protect yourself. Monitor your financial accounts regularly for fraudulent transactions. Sign up for text or email alerts from your bank for certain types of transactions, such as online purchases or transactions of more than $500.
• Beware of phishing scams. Never give out personal financial information in an email or over the phone unless you have initiated the contact.
• Monitor your credit report. Order a free copy of your credit report every four months from one of the three credit reporting agencies at annualcreditreport.com.

If you suspect your identity has been stolen:

• Call your bank and credit card issuers immediately so they can start work on protecting your accounts and clearing your name.
• File a police report and call the fraud unit of three credit-reporting companies.
  The fraud unit numbers are:
  TransUnion  (800) 680-7289
  Experian  (888) 397-3742
  Equifax   (800) 525-6285 
• Consider placing a victim statement in your credit report.
• Make sure to maintain a log of all the contacts you make with authorities regarding the matter. Write down names, titles, and phone numbers in case you need to re-contact them or refer to them in future correspondence.
• For more advice, contact the FTC's ID Theft Consumer Response Center at 1-877-ID THEFT (1-877-438-4338) or www.ftc.gov/idtheft.

SOURCE American Bankers Association

Related Links

http://www.aba.com/

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED