Transaction Guarantee Program Notice:
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Farmers Bank and Savings Co. is participating in the FDIC’s Transaction Account Guarantee Program. All non-interest bearing transaction accounts are fully guaranteed by the FDIC under this program for the account’s entire amount through June 30, 2010. Coverage under the Transaction Account Guarantee Program is in addition and separate from the coverage available under the FDIC’s general deposit insurance rules. Farmers Bank has chosen not to include interest bearing checking accounts, described as Negotiable Order of Withdrawal accounts (NOW Accounts) in the FDIC Transaction Account Guarantee Program, including its SuperNow, Premium SuperNow, Regular and Saver Friendly Savings Accounts, Premium Money Market and HiFi Accounts. Customers with these accounts will continue to be insured through December 31, 2013, for up to $250,000 under the FDIC’s general deposit insurance rules. If you would like to learn more about the FDIC, you may visit them by clicking on their link below. FDIC: Federal Deposit Insurance Corporation
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How serious is the problem?
Government officials call identity theft “the fastest growing crime in the nation”, with over 400,000 people affected last year alone. The average financial loss to an identity fraud victim is estimated at $36,000.
Thieves obtain personal information such as, social security numbers, driver’s license numbers, credit card numbers and even birth certificates and passports. Accounts are then opened in the victim’s name for credit cards and loans with the mail diverted to a different address.
With this approach, it could take months or years to learn that you are a victim. Pay attention to the tips listed below.
Steps you can take to avoid being the next victim!
1. Remove mail promptly from your mailbox. Never use your mailbox for outgoing mail. Identity thieves raid mailboxes to steal credit card offers and financial statements.
2. Guard your social security number. Do not give out personal information like PIN or credit card numbers over the phone or the internet unless you initiated the transaction. Identity thieves often call you posing as an internet provider or credit card company to gain knowledge of your accounts.
3. Be very careful with receipts. Make sure you have them when you leave the store or ATM and do not throw them into a public trash can. Thieves use these receipts to access your accounts.
4. Review your credit report from time to time. For a nominal fee, the credit bureau will give you a copy to review. The major credit bureaus are:
- EQUIFAZ: 800-685-1111 or www.equfax.com
- EXPERIAN: 888-397-3742 or www.experian.com
- TRANS UNION: 800-888-4213 OR www.tuc.com5. Destroy pre-approved credit card offers before you throw them out. A home shredder is the best thing to use on financial statements, receipts and old cancelled checks that you are discarding.
6. Account for all new checkbooks when you receive them in the mail. If any are missing, report stolen checks immediately. Keep new and cancelled checks in a safe place.
7. Block you ATM transaction with your body. Keep the keyboard from view and prevent someone from learning your personal identification number (PIN).
8. Commit all passwords and personal identification numbers to memory. The less you have on paper the less likely it is that someone will learn these numbers.
9. Be creative when you select a password. Don’t be obvious like using the last four digits of your social security number, phone number, address, birth date or any format that could easily be decoded by thieves.
What to do if you are a victim
1. Contact your credit card company and your financial institution and close your accounts. The FBI suggests that you put passwords (not your mother’s maiden name) on any new accounts you open.
2. Call the three major credit bureaus (numbers shown below) t tell them your identity has been stolen. Request that a “fraud alert” be placed on your file and that no new credit be granted without your approval.
- EQUIFAX: 800-525-6285
- EXPERIAN: 888-397-3742
- Trans union: 800-680-72893. Call the Social Security Fraud Hotline: 800-269-0271
4. Contact the Federal Trade Commission (FTC) theft hotline: 877-438-4338 or at www.cosumer.gov/idtheft
5. You should not only file a report with the police, but also get a copy of the report in case you need proof of the crime later for credit card companies etc.
6. If you checks are used fraudulently:
- CHECKRITE: 800-766-2748
- CHECKSYSTEMS: 800-428-9623
- EQUIFAX: 800-437-5120
- NATIONAL PROCESSING COMPANY: 800-526-5380
- SCAN: 800-526-5380
- TELECHECK: 800-710-9898
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