Despite taking careful precautions and monitoring your finances frequently, sometimes identity theft still can occur. In honor of Cybersecurity Awareness Month, here are a few recommended steps to take if your identity - or other sensitive banking information - is ever compromised.
1. Call your bank immediately. If you notice any irregularities in your banking statements or strange charges among your checking account transaction history, call your bank to ensure they are accurately recorded. While many bank security measures will catch suspicious activity even before you do, exceptions happen.
The good news is that if your credit or debit card does turn out to be stolen and transactions are made, you won't be held responsible for any of the charges, according to the Consumer Financial Protection Bureau.
2. Contact the Federal Trade Commission. If your identity has been compromised, you'll want to contact the FTC immediately. According to Landmark Bank, you can contact the FTC via the internet, by phone, or by mail.
3. Log all steps taken since the incident. This information may become invaluable later. Make sure you have a detailed log of what you've done and who you've contacted in an effort to resolve the problem, until it is resolved. Having this list may greatly hasten the speed with which bank or involved agents from the FTC are able to assist your case.
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For more information about smart ways to manage your finances, contact Landmark Bank.