Check fraud, identity theft, and other financial fraud schemes are in the news daily. Every year, thousands of people are victimized by the passing of forged checks accompanied by lost, stolen, or fictitious identification.
To help combat these crimes, we may ask for extra identification or perform additional verification steps when processing your transactions. We have also put together these tips to help you minimize your risk of fraud*:
How to Protect Your Personal and Account Information
Protect your personal and account information at all times. Treat this information as the valuable asset it is.
Never give your checking account, credit card or Social Security number to unknown callers or during telephone sales solicitations.
Never give out your ATM, Check Card, or credit card PIN (Personal Identification Number). We do not ask for your PIN or Password during the verification process.
Never write your PIN or Password on your ATM card, Check Card, or Credit card. Memorize your PIN or Password.
Review your bank statements promptly and report any discrepancies or suspect transactions immediately.
Report lost or stolen checks, ATM cards, or Check Cards as soon as you discover they are missing.
Store your extra checks and deposit slips in a secure locked location and properly destroy canceled checks. Never leave your checkbook in your vehicle.
Protect your ATM, Check Card, and credit card receipts. Some receipts may bear the account number.
Protect your checkbook and bank documents (including statements and canceled checks) so they aren't accessible to guests, contractors, repairmen, etc.
When you close out a bank account, be certain to destroy/shred your excess supply of checks and deposit slips.
If your home is burglarized, check your supply of checks to determine if any have been stolen. Look closely, since thieves will sometimes take only one or two checks from the middle or back of the book, so it's harder to determine that they are missing.
Purchase your checks and deposit slips from our approved check vendor to ensure quality of your check stock and the integrity of your account documents.
Take advantage of products and services designed to assist you in protecting your accounts. For additional information about products and services call 800-WACHOVIA (800-922-4684).
Do not share your login access codes for Online Banking, Online Brokerage and Online Bill Pay services with third party providers.
How to Protect Your Business and Business Account Information
Segregate financial responsibilities—do not have the same person balance the bank statement and issue checks.
Regularly review your account activity and canceled checks, especially if someone else reconciles your bank statement.
Secure all reserve supplies of checks, deposit slips and other banking documents in a locked compartment.
Limit access to only a few authorized employees.
Change the locks when an employee leaves your employ.
Conduct random audits and enforce vacation policies (especially for employees who have access to the financial records and documents).
Use an electronic payment system for check disbursement rather than manually issuing checks, if finances permit.
Familiarize yourself with the bank's depositor's contract and with your liability for fraud under the Uniform Commercial Code.
Use a shredder to destroy all canceled checks and financial data that is no longer needed.
Have your employees bonded when appropriate.
Stay in touch with other businesses to share information regarding suspected fraud activity.
Purchase your checks and deposit slips from our approved check vendor to ensure the quality of your check stock and the integrity of your account documents.
Use your Customer Authorization Number (CAN) when requesting maintenance on your account.
Take advantage of services like Positive Pay, designed to assist you in protecting your accounts. For additional information about products and services, call 800-WACHOVIA (800-922-4684).
Do not share your login access codes for Online Banking, Online Brokerage and Online Bill Pay services with third party providers.
* The above suggestions are provided for informational purposes only. They are general guidelines provided to assist fraud victims in understanding some of the steps they may take to help protect their personal and financial interests. The suggestions are not all-inclusive and should not be considered nor interpreted as legal, accounting, or financial advice. You may wish to consult your attorney, accountant or other advisor for specific advice, guidance, or recommendations concerning this topic.
Securities and Insurance Products: Not Insured by FDIC or any Federal Government Agency; May Lose Value; Not a Deposit of or Guaranteed by a Bank or any Bank Affiliate
Wachovia Securities is the trade name used by two separate, registered broker-dealers and non-bank affiliates of Wachovia Corporation providing certain retail securities brokerage services: Wachovia Securities, LLC, Member NYSE/SIPC, and Wachovia Securities Financial Network, LLC, Member FINRA
/SIPC.