Your account holders entrust you with their personal and financial information. They also rely on you to protect it. Their identities and their wealth are more than just a name and number; they’re the foundation of who they are and the relationships that they’ve forged.
With the total number of identity crime victims at a record high, Financial Institutions (FIs) must be proactive to ensure that fraud and security incidents don’t rob them of account holder loyalty. Criminals can easily manipulate financial, medical, government, criminal, and even employment records. This sheer breadth of misuse makes identity crimes hard to detect, and even harder to repair without the right resources. Continue reading
**Note: The government shutdown came to an end on January 28, 2019 after 35 days. Delays are still expected as agencies work through more than a month of backlog.
The U.S. government shutdown that started on December 22, 2018, is now the longest on record and is impacting more than 800,000 federal workers as of the time of this writing. Although the impact is clear for those government employees directly in the crosshairs, the full effect is yet to be realized for U.S. consumers.
Here are two federal agencies whose lack of funding could prove to endanger citizens’ defenses against identity crimes and fraud. Continue reading
New fraud statistics from Javelin Strategy & Research’s Report, 2018 Identity Fraud: Fraud Enters a New Era of Complexity reveal growing consumer sentiment toward financial institutions as identity crimes hit another record-high. This comes despite industry best efforts to mitigate fraud. Continue reading
Javelin Strategy & Research recently named EZShield an Identity Protection Leader — earning their highest recognition for identity theft resolution services among many other identity protection providers.
The announcement came as part of Javelin Strategy & Research’s Identity Protection Services Scorecard. The annual report highlights leaders in identity protection, current fraud trends and changing consumer needs.
“An investment in knowledge pays the best interest.”
– Benjamin Franklin
Franklin was a pioneer in financial education and often oozed witty, yet practical wisdom. In fact, the man attributed with “a penny saved, is a penny earned” even authored one of the first widely-published financial advice pieces. Franklin understood the value of financial education — and made it a life mission to empower individuals through knowledge. Continue reading
The Pew Research Center reports 64 percent of Americans have been victims of at least one data breach.
A data breach occurs when personal or financial information is unlawfully viewed, stolen or used. Exposure can stem from malicious sources, like hacking and theft, or can be seemingly innocent in nature, such as an employee improperly disposing of sensitive files. Continue reading
What makes up your financial institution’s engagement toolkit?
Perhaps you have a great app, timely email and text notifications, or even a strong social media presence. These initiatives keep accountholders tuned into their finances on their time. However, these perks offer much more than meets the eye. Continue reading
Staying on top of consumer and small business fraud risks is critical to the security and success of your financial institution. Hand-in-hand with being attuned to identity crimes, you must be able to help customers protect against them. This keeps you compliant with industry regulations and fulfills your customers’ expectations.
So how do you ensure such a positive outcome for you and your customers?
View our latest webinar Strategies to Protect Banking Customers from Emerging Fraud Schemes, which I recently presented with fraud expert Al Pascual of Javelin Strategy & Research.
Our discussion delves into new findings surrounding current and evolving fraud threats, how customers view your role in their protection and how you can strengthen customer relationships while growing your revenue with industry-leading identity protection.
Take advantage of this complimentary webinar now.