Bank account theft
Bank account theft is the second most common financial fraud after credit card theft, and affects bank millions of consumers every year.
Regrettably checking account theft is not a well-known type of crime but is one of the most quickly expanding felonies in the world. A lot of known cases happen of course! in America. The “land of the free” is probably too free when it regards bank account theft. On the average, one in twenty adults are casualties of one or more sorts of bank account theft: stolen credit cards or credit cards numbers, social security numbers and other individual ID.
Bank account theft by Internet Hackers
Internet hackers will provide databases of thousands of social security numbers or personal bank data to hundreds of crooks who will then use them to obtain funds, loans and a financial document in your name.
Banking identity theft by regular thieves
Thieves can get your mail, conterfeit a check you’ve written and write themselves a fat check.
After stealing your wallet they will use your ATM, especially if you wrote your PIN on your card (don’t do it).
They also set-up phony ATM devices that will read and record all the information of your card along with your PIN.
Protect Yourself Against bank account Theft
Have you forgotten or “misplaced” your credit card? Even if you don’t think it was taken, don’t procrastinate too long to report the incident to the authorities and your lenders. Remember that it is not so easy to detect bank account theft; and when you do, it could be too late! Such a happening can seriously damage not only your financial status, but your reputation as well.
- It is not easy to protect yourself from bank account theft, but if you run a credit report on yourself from time to time, you will definitely find out if anyone tried to get a loan on your name.
- Avoid keeping too many bank accounts, and discontinue all your old ones. Keep your credit cards in place or decrease their limits for safety concerns.
- Do not give vital ID data to someone you don’t know over the telephone. That includes: date of birth, federal ID number, driver’s license information, bank account, or other important ID details.
- Always destroy files containing these details once you no longer need them.
- Look over your bills and account statements. Double check that they are yours before sending money.
- If you close a checking account, destroy all the remaining checks.
- Take care of your passwords and PIN numbers. Memorize them and don’t choose easy ones like your birthday or zip code.
- Try to provide as little information as possible online. Think that by getting your birthplace, any bank account thief can copy your birth certificate and other sensitive documents.
- Take care of your wallet and purse. Never leave your most important documents where you can’t see them! Not at work, in a diner, in a lobby. Nowhere!
Sometimes to solve theft of your checking account, you need to get a private investigator, as more traditional ways take often too long. Don’t believe you’ll pay too much. Bank account theft is one of those situations where time is really money! A private investigator may prove to be more of a saving than an expense.