Communication is Key to Stopping Scammers, Prevent Losses
BY CAITLYN EULGEN
COMMUNITY STATE BANK
UNION GROVE – When it comes to fraud prevention, knowledge is power.
But what happens if you become a victim? Whether it's check fraud, identity theft, or debit/credit card fraud, there are steps you can take to ensure your personal and financial information remains protected.
Check Fraud
Check fraud includes forgery, theft, and paper hanging. Paper hanging is the practice of writing checks on closed accounts. If unknown checks clear your account, the first thing you should do is to notify your financial institution.
Because checks via email are easier to intercept, it is wise to stick to physical checks as much as possible. When mailing a physical check, you should deliver it directly to the post office rather than leaving it in your mailbox to prevent theft.
Identity Theft
If your personal information (such as your social security number or birthdate) is compromised, the first step you must take is to contact your financial institution immediately.
Make sure to share each critical detail. That way, we can help you protect your funds and cancel unwanted transactions. Never give your personal information to a shady source.
Along with that, notify the three major credit bureaus (TransUnion, Equifax and Experian) as well. They can freeze your account and place alerts so that the fraudster doesn’t make other transactions in your name.
Debit/Credit Card Fraud
If you notice suspicious transactions on your card, contact your financial institution as well as the merchant from which the charge is based to inform them of the error. If they can’t help directly, your bank or credit card company can cancel the charge and give you a new card number. You can also request a chargeback.
In all cases, communication with your financial institution is key. We take great pride in assisting and educating our customers at Community State Bank.
Don’t hesitate to call us at (262) 878-3763. We are more than happy to help!
ABOUT COMMUNITY STATE BANK
Community State Bank has proudly served the communities of Southeast Wisconsin since 1898. They are a locally owned and operated community bank, headquartered in Union Grove, Wis. For more information, visit CSB online at CSB.bank.