ABA Recognizes Data Privacy Day With Three Keys To Security Success

WASHINGTON, Jan. 25, 2013 /PRNewswire-USNewswire/ -- In recognition of Data Privacy Day on Jan. 28, the American Bankers Association is urging bank customers to take an active role in protecting their privacy. Banks use a combination of safeguards to protect customer data, which allows them to detect unusual spending patterns and protect accounts. Customers also play an important role in safeguarding personal financial information.

"Banks protect customer privacy because their future depends on it," said Frank Keating, ABA president and CEO. "While banks provide strong data protections, customers are the first line of defense. A partnership between banks and customers is the most effective way to protect financial data."

To help ensure the safety of personal information, customers should follow these three tips:

    --  Create c0mplic@t3d passwords. Avoid birthdays, pet names and simple
        passwords like 12345. It is also important to change passwords at least
        three times a year. Because friendly theft - theft by someone the victim
        knows - is the most common type of identity theft or fraud, don't share
        your passwords with family members and be mindful of who has access to
        your personal information.
    --  Continually monitor accounts. Check account activity and online
        statements often, instead of waiting for the monthly statement. You are
        the first line of defense because you know right away if a transaction
        is fraudulent. If you notice unusual or unauthorized activity, notify
        your bank right away. When a customer reports an unauthorized
        transaction, the bank will cover the loss and take measures to protect
        the account.
    --  Protect yourself online. Be sure computers and mobile devices are
        equipped with up-to-date anti-virus and malware protection. Never give
        out your personal financial information in response to an unsolicited
        email, no matter how official it may seem. Your bank will never contact
        you by email asking for your password, PIN, or account information. Only
        open links and attachments from trusted sources. When submitting
        financial information on a website, look for the padlock or key icon at
        the top or bottom of your browser, and make sure the Internet address
        begins with "https." This signals that your information is secure during
        transmission.

If you are a victim of fraud and suspect your personal information has been compromised, you should take the following steps:

    --  Call your bank and credit card issuers immediately so they can take
        necessary steps to protect your account.
    --  File a police report and call the fraud unit of the three
        credit-reporting companies.
    --  Consider placing a victim statement in your credit report.
    --  Make sure to maintain a log of all the contacts you make with
        authorities regarding the matter. Write down names, titles, and phone
        numbers in case you need to re-contact them or refer to them in future
        correspondence.
    --  For more advice, contact the FTC's ID Theft Consumer Response Center at
        1-877-ID THEFT (1-877-438-4338) or www.ftc.gov/idtheft.

Data Privacy Day commemorates the 1981 signing of the first legally binding international treaty dealing with privacy and data protection. It is led by the National Cyber Security Alliance, a non-profit, public private partnership focused on cyber security education for all online citizens.

The American Bankers Association represents banks of all sizes and charters and is the voice for the nation's $14 trillion banking industry and its two million employees. Learn more at aba.com.

Follow us on Twitter: @ABABankingNews

SOURCE American Bankers Association