What is Identity Theft?

Identity theft occurs when someone acquires a piece of your personal information and uses it to commit a crime.  Offenses involving identity theft are on the rise.  These are the crimes most frequently reported to the Federal Trade Commission today.  Fraudsters commit these crimes in person, by telephone, on the internet or through the mail.

As technology continues to evolve, criminals are developing new ways to exploit or defraud organizations and consumers.  This includes attempting to access bank and brokerage accounts online and steal credit information or identities.

VBSFCU is diligent in its efforts to protect customers’ information.  As part of our ongoing commitment to safeguard your privacy, we continuously review and strengthen our security program, processes and procedures.  Our Smart Choice Checking program also offers, as a benefit, extra protection in the occurrence of ID theft.

Some examples include:

  • Requiring identification and authentication for information requests, account maintenance, and transactions conducted in person and over the phone
  • Posting strategic warnings online to alert our customers to recent incidents involving email and online fraud schemes
  • Actively managing a vigorous Identity Theft Prevention program to identify and respond to potential red flags of identity theft
  • Partnering with other institutions in the financial services industry to adopt best practices for fraud prevention