Identity theft occurs when someone uses your personal information to obtain credit cards, apply for loans or Social Security benefits, or set up utility, phone or other services in your name. It is one of the nation's fastest growing crimes, and affects about 500,000 to 700,000 Americans every year.
Fortunately, it is preventable, and Wachovia has the tools to help you protect your assets and your good name.
Working to Protect You
Consistently ranked by industry experts as among the top financial institutions in preventing fraud losses, Wachovia is actively working to target and eliminate identity theft.
We believe that really knowing our customers is one of the best ways to prevent fraud and identity theft. That's why, when a customer opens an account, we require two pieces of identification, one of them needs to be a government-issued photo I.D.
Wachovia will determine your identity each time you access your account, through your PIN (Personal Identification Number) password, special questions and other identifiers that are unique to you.
We are watching out for fraud 24-hours a day. If a transaction raises a red flag with us, we will contact you to verify the activity. Our security tools and processes, such as firewalls and encryption measures, meet or exceed industry standards.
What You Can Do If you are informed and proactive, you will be less likely to fall victim to identity theft.
Never give ATM, Check Card or credit card PIN numbers to anyone. Wachovia representatives will never ask you for your PIN or password during the verification process.
Report discrepancies or suspicious transactions on bank statements, or stolen checks, ATM cards, Check Cards or bank documents immediately.
Do not share your login access codes for Online Banking, Online Brokerage and Online Bill Pay services with third-party providers.
If You Are a Victim of Identity Theft Don't panic! If the fraud involved a Wachovia account, call Wachovia's Loss Management Department at 888-647-3648 or visit our Fraud Prevention planning guide. Compromised accounts are closed and reissued as soon as suspected fraud or identity theft is reported.
You should also report suspicious activity or email communications to the Federal Trade Commission. Send the actual email you received to spam@uce.gov. If you believe you've been scammed, file your complaint at ftc.gov, then visit the FTC's Identity Theft Web site ftc.gov/idtheft to learn how to minimize your risk of damage from identity theft.
