Face the Facts
In 2012 alone, 12.6 million Americans were victims of identity theft amounting to over $21 billion in stolen funds. Every 2.5 seconds, somebody becomes a victim of ID theft. These numbers are pretty terrifying considering financial fraud and identity theft can cost consumers thousands of dollars, wreak havoc on their credit history, not to mention their reputation in general, and takes on average, 6 months to resolve all of the damage done.
Even the most financially responsible folks can fall victim to these crimes. You may be thinking, “I know my information hasn’t been compromised. I monitor my account statements religiously.” Don’t get us wrong, that is a wonderful practice to keep, but it can take weeks or even months for some people to realize their identity has been stolen. Identity theft is the fastest growing crime in the U.S., as many of us have seen firsthand with the recent Target and Nieman Marcus security breaches during the holiday shopping season.
How to Protect Yourself
Although these statistics seem pretty grim, companies are now responding more quickly to reports of fraud, meaning consumers’ information is being misused for fewer days, in turn lessening the financial blow per victim. Along with a quicker response time, financial institutions are now offering fraud protection services in conjunction with many of their deposit accounts. One of the newest safeguard services comes from FNB Fox Valley with their Kasasa Identity Fraud Protection (KIFP)
which can be coupled with the
Kasasa Cash checking product.
Their 24/7 monitoring capabilities allow you to rest easy, as KIFP constantly combs your credit report for potentially fraudulent activity, reports any new activity, changes in credit score, new lines of credit opened in your name, changes to the address on file, new credit inquiries, public record and trade line bankruptcies, liens and judgments along with any other changes to your personal credit file. You also will be provided with an annual copy of your credit report.
We all love online shopping and social media, but these sites are targets for identity thieves. KIFP will proactively scan the internet, social websites, black market websites (yes, these exist), chat rooms and bulletin boards for up to 25 unique pieces of personally identifiable information that you specify, sending you text or email alerts if something requires attention. Aside from credit report and internet monitoring, Kasasa Identity Fraud Protection offers identity restoration services, assisting you every step of the way to clean up the mess if information is compromised and restoring you to good standing.
At only $10 a month, KIFP is a pretty great deal, especially considering you may never have to actually pay the $10 out of pocket. An added feature of this product is its coupling with the Kasasa Cash rewards based checking account, automatically applying any interest and ATM fee refunds earned toward the $10 fee. Anything that isn’t covered with checking account’s rewards and refunds, is picked up by FNB. Any rewards and refunds earned over the $10 goes into your pocket. If you don’t meet the qualifiers for your Kasasa account one month, the fee will come out of your account, and you can try to qualify the next month. Any way you look at it, it’s hard to put a price on your financial integrity, but if you had to, $10 seems like peanuts.
Give yourself some peace of mind and get connected with a “financial watch dog” like Kasasa Identity Fraud Protection. Any of FNB Fox Valley’s personal bankers would be happy to discuss more options for protecting yourself and your financial well being, so contact them today!