U.S.

January 31, 2014

Consumer Financial Protection Bureau helps with identity theft, data breaches

Written by: timchisham
More articles by »

Headlines about large scale data breaches can be scary, but don’t panic. There are steps you can take to protect yourself. If your information was part of a breach, the most immediate risk is that the thieves may make unauthorized charges or debits to your accounts.

Keep a close eye on your account activity and report suspicious transactions immediately to your bank or card provider. The sooner you tell your provider about any unauthorized debits or charges, the better. Tip: Watch for reports from the merchant that was hacked, or your card provider, about the nature and timing of the security breach.

If you have online or mobile access to your accounts, check your transactions as frequently as possible. If you receive paper statements, be sure to open them and review them closely. You should do this even if you’re not sure your information has been compromised.

Report even small problems right away. Sometimes thieves will process a small debit or charge against your account and return to take more if the small debit or charge goes through. Look for suspicious activity like unfamiliar merchant names, especially from merchants outside your area.

Fraudulent charges to your card or fraudulent debits to your bank account might occur months after the theft of your information during a data breach. It’s important to make a habit of monitoring your accounts.

Contact your bank or card provider immediately if you suspect an unauthorized debit or charge.

If a thief takes money from your bank account by debit, or charges items to your credit card, you

should cancel the card and have it replaced before more transactions come through.

You should also consider changing your PIN just to be on the safe side.

Your best step to protect yourself from unauthorized charges or debits to your accounts is to report that your card or your information has
been lost or stolen promptly after you learn of it.

Credit cards

If your account number, not your physical credit card, has been stolen, you are not responsible for unauthorized charges under federal law.

Debit cards

If an unauthorized transaction appears on your statement (but your card or PIN has not been lost or stolen), under federal law you will not be liable for the debit if you report it within 60 days after your account statement is sent to you. But if the charge goes unreported for more than 60 days, your money, and future charges by the same person, could be lost. There are timelines for the bank to investigate and re-credit the missing funds to the account after you make a timely report about the problem.

The time for you to report is much shorter if your card or PIN has been lost or stolen (2 business days, in order to limit your liability to no more than $50 of unauthorized charges), so make the report as soon as you learn that your card is missing or your PIN has been stolen.

Payroll, government benefit, and prepaid cards

For these types of cards, your rights vary depending on the card. If you suspect information from a payroll, government benefit, or prepaid card was stolen, check with the provider to find out its policy and deadlines for disputing charges. Your rights vary depending on the type of card.

You can also learn more about your card protections at www.consumerfinance.gov/askcfpb.

Report a suspicious charge or debit

If you spot a fraudulent transaction, call the card provider’s toll-free customer service number immediately. Ask how you can follow up with a written communication. Your monthly statement or error resolution notice also likely includes instructions on how and where to report fraudulent charges or billing disputes. When you communicate in writing, be sure to keep a copy for your records. Write down the dates you make follow-up calls and keep this information together in a file. Tip: If you get a replacement card, remember to update any automatic payments linked to the card.

Card providers should investigate the charges and respond quickly – generally within 10 business days of receiving an error notice for debit card disputes or within two billing cycles for credit card disputes. You have a right to know the results of the investigation.

If you have an issue with the card provider’s response, you can submit a complaint to us.

Visit www.consumerfinance.gov/complaint or call 855-411-CFPB (2372).
You can also learn more about billing disputes and your card protections at www.consumerfinance.gov/askcfpb.

If someone initiates contact with you, it could be a common scam, often referred to as “phishing,” to steal your account information. Banks and credit unions never ask for account information through phone calls or email that they initiate. If you receive this type of contact, you should immediately call your card provider (using a customer service number that you get from a different source than the initial call or email) and report it.

For more information on phishing scams, visit the FTC’s consumer alert page on its website www.consumer.ftc.gov/scam-alerts.

(NOTE: This article was taken from the CFPB website at http://files.consumerfinance.gov/f/201401_cfpb_consumer-advisory_card-security.pdf)




All of this week's top headlines to your email every Friday.


 
 

 
Tammy_Duckworth,_official_portrait,_113th_Congress

Knowing the facts: National Disability Employment Awareness Month

Congresswoman Tammy Duckworth, an Iraq War veteran, was deployed to Iraq as a Blackhawk helicopter pilot for the Illinois Army National Guard in 2004. One of the first Army women to fly combat missions during Operation Iraqi Fr...
 
 

452nd felt early frost in Cold War

(Ninth in an 11-part series that was first run in the Beacon in 2007) Two weeks after the D-Day invasion, 47 B-17s from the 452nd Bombardment Group and other Army Air Forces units were destroyed by German aircraft at a largely undefended Russian airfield. The attack, which began about 12:30 a.m. June 22, 1944, destroyed...
 
 

Air Force to implement TDY policy changes

The Air Force recently implemented two TDY policy changes that will impact travel reimbursements for Airmen. The first change, which took effect Oct. 1, made changes to the Joint Travel Regulations, Reimbursable and Incidental Expense Policy. The second will be a change in long-term TDY per diem expenses and take effect Nov. 1. Under the...
 

 
running

Lacing up: Finding your ‘WooHoo’ moment

U.S. Air Force photo/Staff Sgt. Natasha Stannard For those who run with me, they know I can get a bit noisy. A celebratory “WooHoo” is a must at the start of taking any hill. The drumbeat of sneakers on the pavement, labore...
 
 
Dom-Violence-Aware-Month-photo

Domestic Violence awareness Month: How to help a friend who is being abused

Here are some ways to help a friend who is being abused: •Set up a time to talk. Try to make sure you have privacy and won’t be distracted or interrupted. •Let your friend know you’re concerned about her safety. Be hone...
 
 
(Courtesy photo/Joe Mora)

Shadowy figure blocks exit to room in March Field building

(Courtesy photo/Joe Mora) A camera captures what appears to be a shadowy figure (left side) sitting in one of several chairs lined up against a wall in a building on March Air Reserve Base Wednesday, Aug. 13, 2014. The image wa...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>


Directory powered by Business Directory Plugin