Identity theft is America’s fastest growing crime. In 2006, more than 9.9 million Americans were victims of identity theft, a crime that cost them roughly $5 billion. The number of ID theft victims and their total losses are probably much higher. It’s hard to pin down, because law enforcement agencies may classify ID theft differently—it can involve credit card fraud, Internet fraud, or mail theft, among other crimes.
Identity theft occurs when someone illegally obtains your personal information - such as your Social Security number, bank account number, or other identification - and uses it repeatedly to open new accounts or initiate transactions in your name. For example, someone might do a combination of the following: open new credit cards, open new bank accounts, forge checks, and even apply for loans using your name and personal information. This can cause financial loss and damage your credit, which can lead to a lengthy resolution process.
Keep in mind however, that even if you think your security has been compromised, it does not automatically mean that you are a victim of identity theft. It might be an incorrect entry or an isolated incident of theft from your C&F Bank account that is quickly resolved by calling C&F Bank at 1-800-296-6246.
Identity theft is portrayed as a high-tech crime affecting only those people who shop, communicate, or do business online. However, while thieves can obtain personal information via online methods, the majority of identity theft occurs offline. Stealing wallets and purses, intercepting or rerouting your mail, and rummaging through your garbage are some of the common tactics that thieves can use to obtain personal information. The good news is that the more information you have about identity theft the better your defense.
C&F Bank will constantly work to help protect our customers from criminal activity. As an informed customer, you are a great ally in this effort. To learn more about identity theft, you can reference the following sites: