ID Awareness & Security

IDENTITY & FRAUD PROTECTION

Protecting the identity of our members is a top priority at New Mexico Educators Federal Credit Union. We urge you to spend time reviewing this essential information. It's what you need to educate and protect yourself from identity theft, avoid the hassle and expense of fraud on your accounts, and quickly respond if you become suspicious or become a victim.

What Is Identity Theft?

How Can It Happen?

Young Adults Are a Prime Target

Social Networking: Some Basic Precautions

Cybershopping: Don't Be Too Quick to Click

E-Statements Help Thwart Thieves

Other Ways to Minimize Your Risk

Identity Fraud Declining, But Still Serious

If You Suspect Theft or Fraud

Complimentary Identity Protection for Our Members

Recommended Web Resources

Important Reminders

MEMBER SECURITY

Learn how we protect the security of your accounts and several ways you can protect yourself against scams and Internet crime.

FRAUD ALERTS

Check our website continually for updated reports on scams that can impact Credit Union members.

What Is Identity Theft?

Identity theft happens when your personal information, such as your Social Security number, name, physical address, date of birth, account number, etc., is stolen with the intent to commit fraud or theft. This personal information can be used to rent apartments, buy cell phones, drain your bank account or obtain loans and credit cards. In worst-case scenarios, thieves can even hold a job or commit a crime using your identification. According to the Federal Trade Commission (FTC), identity theft affects nearly 400,000 people in the U.S. each year. A person whose identity has been stolen can spend months or years - and thousands of dollars - cleaning up the mess made of their good name or credit record.

How Can It Happen?

There are high-tech and low-tech ways of stealing your personal information. Some are elaborate scams to get potential victims to share their confidential information, while others are simple crimes of opportunity. These are just a few examples of items criminals go after:

Your wallet or purse, containing ID, credit cards, debit cards.
Financial statements or receipts.
Mail, such as checks, tax information, pre-approved credit card offers, etc.
Personal information taken from your home or personal computer.
Files taken from offices where you are a customer, employee, patient or student.
Credit and/or debit card numbers obtained by a special "skimming" device used while your card transaction is being processed (in a restaurant, gas station, etc.).
Personal information obtained through "phishing" while you are online. You may receive spam e-mails or pop-up messages that appear to be from financial institutions or reputable companies.
Personal information and account details obtained through "vishing" - fraudsters convince you on the phone that they are representatives of a financial institution or another legitimate business.
"Smishing" is a new form of criminal activity involving text messaging between mobile phones. Victims receive text messages directing them to a Web site to respond. Once at the site, they are then prompted to download a program which can capture personal information on their personal computer.

Young Adults Are a Prime Target

Consumers between the ages of 18 and 29 now make up the largest target group for identity theft.* The repercussions of identity theft on these citizens can be very serious, including being denied credit (such as a student loan, cell phone account, or auto financing) or refused a job.

Perhaps the most unsettling discovery about identity theft is that, in a large percentage of cases, the thief is someone closely connected to the victim - a co-worker, neighbor, roommate, or even a family member.

* Credit Union National Association

Other sources: MarketWatch, Federal Trade Commission, and National Cyber Security Alliance

Social Networking: Some Basic Precautions

Innocent online chats, blogs, videos, and other Web-based interactions are like breadcrumbs that identity thieves can follow to the feast. They make social networking sites such as MySpace and FaceBook a 24-hour buffet for thieves. They'll keep coming back for more, as long as most Web users continue to ignore some simple precautions.

One glaring example is that 83% of the adults who use social networking sites download unknown files to their personal computers.* Because of the importance of protecting your financial identity, you must be especially vigilant if you are active on social networking sites or posting your resume online.

Start with these precautions:

Assume that everything you post on social networking sites will be visible to everyone. And don't assume they won't know it's you - at the very least, adjust your profile so your blogs and other materials are available only to "friends" to whom you grant access. That doesn't guarantee security, but it's a start.
Use a spam filter, virus scanner, and firewall on your computer, and keep them updated. If you work from a wireless router, secure its access with a password.
Know what your children are doing online. If they are active on social networking sites, visit their site regularly to see what's going on, and insist that they guard their identities - and yours.

* Credit Union National Association

Other sources: MarketWatch, Federal Trade Commission, and National Cyber Security Alliance

Cybershopping: Don't Be Too Quick to Click

Protect your wallet and your online identity.

Deal with a company you know. Eighty-four percent of mail order businesses now have a Web site and that percentage is continually increasing.
Use a secure browser. The software you use to navigate the Internet complies with industry security standards if it encrypts the purchase information you send through cyberspace. Check with your preferred vendor for computer products to assure that your browser and security software are up to date.
Use only trusted, secure Web sites when you enter sensitive personal information online. Rather than cut and paste links from e-mails, type the Web address in directly. You're in a secure Web site if:
- A message announces you're entering a secure area,
- You see a padlock or key in the locked position on the bottom or upper right of your monitor screen, or - The "http" in the URL (Web site address box) changes to "https." The "s" stands for secure.

Rule of thumb: if it's not a secure site, don't stop - surf on by.

E-Statements Help Thwart Thieves

Reduce your chances of becoming a victim of mail fraud by receiving your statements electronically from New Mexico Educators Federal Credit Union.

Even though identity thieves are finding new ways to steal information over the Internet, many thefts - for example, taking out a credit card in your name - tend to be low-tech crimes. According to the FTC, about half the country's victims know how their information was stolen, and in many cases the breach was paper - bills, credit card solicitations, and financial statements - taken from garbage cans and mailboxes.

Online banking and online bill paying not only cut off thieves' access to the papers they need to commit ID theft, but also helps detect the crime sooner. That's because consumers who bank online check their accounts much more frequently - nearly four times a month compared with once a month for those who receive statements by mail. Going electronic is a good safe move.

Electronic statements are available to all members through Internet Banking. Once you have registered for this no-fee service sign in for Internet Banking and then select "Statements."

When you are in the "Statements" area, you can opt out of receiving mailed statements and/or set the e-mail option so that you receive an e-mail when your online statement is available each month. Click "User Options." Select "No" for mailed statements. Select "Yes" for e-mail notification of when your statements are ready.

Other Ways to Minimize Your Risk

Although security experts and consumer advocates acknowledge that it's impossible to completely prevent identity theft, they all agree that people can significantly reduce their risk by taking some simple precautions:

Learn how to keep your computer and the personal information it contains safe.
Guard passwords and PINs that allow you to access your credit card, financial and phone accounts - and avoid using easily available information such as your mother's maiden name, your birth date, the last four digits of your Social Security Number (SSN) or your phone number.
Don't click on links or attachments in e-mails unless you know what they are and who sent them. If you get unsolicited e-mail asking for personal data such as your SSN number or financial account numbers - for any reason -report it to www.fraud.org and delete it.
Secure personal information in your home. Remove your new mail from the mailbox promptly and send outgoing mail from the post office or other secure mail boxes. Shred your charge receipts, pre-approved credit offers, physician statements, checks and bank statements.
Opt out of receiving pre-screened credit card offers by calling toll-free 888-567-8688.
Review your account statements on a regular basis, and use online or phone balance and transaction review features. These are among the best ways to watch for fraudulent activity on all of your financial accounts.
Find out who has access to your personal information at work and verify that records are kept in a secure location.
Don't carry your Social Security card - leave it in a secure place at home or in a safe deposit box.
Don't carry any credit cards you don't need. And keep the ones you plan to use while shopping somewhere other than your wallet.
Keep the customer service phone numbers for your checking account and the credit and debit cards you do use, so you know exactly how to reach your financial institution and request a stop on the account should anything get stolen.
When using an ATM, shield the screen and keypad with your body to prevent others from seeing and copying your personal identification number (what's called "shoulder surfing").
Before inserting your card at an ATM, feel along the edge of the insertion slot to make sure it hasn't been tampered with.
Order a copy of your credit report at least once a year by visiting www.annualcreditreport.com. . Make sure it's accurate and includes only the activities you've authorized.
Consider joining a credit-monitoring service that tracks your credit activities and alerts you when someone applies for credit in your name or when account information is altered.

Identity Fraud Declining, But Still Serious

Identity fraud occurs when someone who has gained unauthorized access to your personal information uses it to defraud you. The good news is that in 2007, the incidence of identity fraud decreased 11.8% in the U.S., as a result of persistent efforts by consumers, industry and government agencies to strengthen defenses and engage in protective measures against this crime.

The bad news is that identity fraud is still a $45 billion dollar headache for American citizens and businesses. An average loss per incident is $691,* and that doesn't include the time and expense of trying to set your credit rating straight.

These are some of the ways these losses can occur.

Credit card fraud:

New credit card accounts are opened in your name but at an address that isn't yours. The crook racks up charges and doesn't pay the bills; then the delinquent accounts show up on your credit report.
Identity thieves could also change the billing address on your existing credit card so you don't see the bills. It may take you a while to realize that unauthorized charges have been made on your account.

Phone or utilities fraud:

A new phone or wireless account could be opened in your name, or unauthorized charges could be made on your existing account.
Utility services like electricity and cable TV could be obtained in your name.

Financial fraud:

Counterfeit checks could be created using your name or account number.
A checking account could be opened in your name; then checks written on the account would bounce.
Your debit or ATM card could be cloned and electronic withdrawals could wipe out your checking account.
Sophisticated identity thieves can even obtain loans in your name.

Government documents fraud:

A driver's license or official ID card could be issued in your name but with their thief's photo.
Your name and Social Security number could be used to receive government benefits.
A fraudulent tax return could be filed using your stolen information.

Other fraud:

Obtaining a job using your Social Security number.
Renting a house or getting medical services using your name.
Giving your personal information to police during an arrest. When the identity thief doesn't show up for a court date, an arrest warrant is issued in your name.

* Javelin Strategy & Research
Other sources: MarketWatch, Credit Union National Association, Federal Trade Commission, and National Cyber Security Alliance

If You Suspect Theft or Fraud

If you discover a new account has been opened in your name without your authorization, immediately contact one of the three major credit bureaus and ask that a fraud alert be placed on your record.

Equifax www.equifax.com 888-766-0008
Experian www.experian.com 888-397-3742
TransUnion www.transunion.com 888-909-8872

Once the alert is placed, future creditors will be required to contact you directly before opening new accounts or making changes to existing ones.

Filing a police report that provides specific details of the identity theft is considered an Identity Theft Report, which entitles you to certain legal rights when it is provided to the three major credit reporting agencies or to companies where the thief misused your information.

Notify the creditors involved and disputing any unauthorized transactions are two steps you must take immediately to restore your good name. Take good notes. At every step, pay attention to detail and remember that businesses and agencies may want to see paper or electronic files. For each contact, record the name of the person you spoke with, the date and time of the conversation, the address, phone number, and full name of the business, and what was discussed.

Be sure to follow up. Send all important correspondence via registered mail, with return receipt requested, and send copies, not originals. Keep the paperwork on hand for several years. Once you and a creditor have settled a claim, ask the firm to mail a letter confirming that the matter is settled. This letter is your best protection if the same phony claim reappears.

Complimentary Identity Protection for Our Members

New Mexico Educators Federal Credit Union has partnered with Identity Fraud, Inc. to provide our members with VRS Elite® Fraud Resolution Services at no cost - and no enrollment is necessary.

If you have a question about fraud or become a victim of any type of identity theft or fraud, simply call toll-free 1-866-443-3728 anytime day or night. Whether your case is simple or complex, the VRS Elite team will help solve your case and clear your good name. To learn more about these services, click here. If you have a question about fraud or become a victim of any type of identity theft or fraud, simply call toll-free 1-866-443-3728 anytime day or night. Whether your case is simple or complex, the VRS Elite team will help solve your case and clear your good name. To learn more about these services, click here.

In addition to the VRS Elite resources we provide at no cost, New Mexico Educators Federal Credit Union offers you enhanced protection programs from Identity Fraud, Inc. For example, comprehensive protection for an individual starts at only $18.71 per year if you have a checking account with us ($24.95 per year for all other members).

These additional program benefits include:

Protection for your family members as well.
$25,000 Identity Insurance Limit for each person ($0 Deductible).
Single or Triple Bureau Credit Monitoring / Alert Options.
Fraud Alert and Credit Freeze Options.
Discounts on prevention tools, credit reports, FICO scores.
A library of free information on the subject, including a Loss Prevention Guide, education, newsletters, and more.

If you have a checking account at our Credit Union, call our HelpLine at 889-7755 (800-347-2838 from outside the Albuquerque area) and ask for a special code to obtain a 25% discount on supplemental protection from Identity Fraud, Inc. Then call 1-866-443-3728 or go to www.identityfraud.com/nmefcu to order individual or family protection for just pennies a day.

Recommended Web Resources

Important Reminders

Closely monitor your financial accounts at least once a month. You can monitor your Credit Union accounts and Credit Card accounts by using our online financial management tool, Internet Banking, at our Web site, www.nmefcu.org.

New Mexico Educators Federal Credit Union will NEVER ask you in a phone call, e-mail or letter for account numbers, credit card numbers, CCV numbers, PIN numbers, or any other private information.
Don't be tricked - even clicking on a link in an e-mail can install unwanted programs in your computer that can steal your private information.
If you receive any suspicious e-mails, delete them immediately.
You should periodically check your credit reports distributed by the three major credit bureaus, and you have the right to receive one free copy of your credit report, once every twelve months. To request this report, please visit www.annualcreditreport.com, or call toll-free 877-322-8228.

Fraud Alert Updates

Check this page regularly on updates on scams that we think can pose a threat to our members.