Identity Theft

Identity theft occurs when someone steals personal information, such as your Social Security number, credit card number, or account number, then poses as you to apply for credit, make purchases, or both.

The incidence of identity theft is on the rise, however experts agree that you are less likely to fall victim to the fraud if you take some simple steps to protect yourself and your assets.

Following are ten of our most often recommended steps to take to prevent identity theft from happening to you:

1. Protect your personal financial data. Never give out financial information such as checking account and credit card numbers-and especially your Social Security number-over the telephone unless you initiated the call and know the person or company you're dealing with. Don't give this information to any stranger, even one claiming to be from your bank, asking for account information to 'verify a transaction' or 'award a prize'. Notify the bank of suspicious phone inquiries.
2. Paper or plastic…guard them both. Store cancelled checks and new checks in a safe place. Protect ATM cards, credit cards, and card receipts just as you would other important financial data. Do not carry your Social Security card or extra credit cards in your wallet except when needed. And always take the receipt provided by the cashier, ATM machine, or service station, then tear it up completely before discarding it, if you choose to do so.
3. Report lost or stolen checks immediately. Your bank will block payment on the check numbers involved. Also, review new checks when delivered to be sure none were lost or stolen in transit.
4. Keep duplicate records. Place the contents of your wallet on a photocopy machine. Include your driver's license, credit cards, prescription and other insurance cards. Be sure to copy both sides so you'll have a complete record of account numbers, expiration dates, and phone numbers should your wallet or purse be lost or stolen.
5. Buy a shredder and use it. Identity thieves may use your garbage to obtain personal information. Tear or shred old bank and credit card statements, physician and insurance statements, as well as 'junk mail' credit card offers, before discarding them.
6. Don't put outgoing mail in your mailbox. Bring it to the Post Office or drop it into a secure, official Postal Service collection box.
7. Opt out of marketing lists. Take advantage of the 'opt out' option provided to you by companies with which you do business. This will decrease the number of unwanted marketing solicitations you receive in the mail, as well as cut down on paperwork that may unnecessarily put your personal information at risk.
8. If a regular bill does not arrive on time, call the company to find out why. Someone may have filed a false change-of-address notice to divert your information to her or her address.
9. Review your bills as soon as they arrive for incorrect or fraudulent charges. If you find any, investigate them immediately.
10. Monitor your credit report. Periodically contact the major credit reporting companies to review your file and make certain the information is correct. For a small fee, you can obtain a copy of your credit report at any time. The three major bureaus are-Equifax: 800-685-1111; Experian: 888-397-3742; and TransUnion: 800-632-1765

If you have additional questions about Identity Theft, call or visit any Woodsville Guaranty Savings Bank office. If you think you may be a victim of fraud, contact us toll-free at 1-800-564-2735. There are steps we can take to help protect you and your WGSB accounts from loss.