Lake Elmo Bank

identity theft


Senior Fraud Prevention ... Good Financial Practices

Financial fraud can be difficult to recognize.  This type of Fraud can include identity theft, fake check and wire transfer scams, investment and credit card fraud, and bogus online charitable solicitations.   Here are a few tips that can help protect yourself from financial fraud:

1.  Use Direct Deposit for your checks.

2.  Sign your own checks.  Do not sign "blank checks" where another person can fill in the amount.

3.  If someone is helping you manage your finances, get a trusted third person to review your bank statements.

4.  Do not sign any document without reading it carefully. Have a trusted friend or other advisor, or an attorney review the document. 

5.  Do not lend money in return for a general promissory note.

6.  Do not sign over money or property to anyone in return for care, even a family member or friend, without having the agreement by an attorney.  The agreement must be written.  Give someone else a copy.

7.  Do not allow anyone, even a relative, to put their name on your account without your express consent.  Lake Elmo Bank can set-up a separate account in both names with automatic transfer of limited funds.

8.  It's shrewd, not rude to hang up on a suspicious telemarketer.

9.  Don't give personal information to people you don't know unless you initiated the contact.

10.  Don't let yourself get pressured into a verbal agreement or signing a contract.

11.  Be skeptical of online charitable solicitations and other online offers.  If interested, ask to receive the information in the mail and check to be sure the company is legitimate.

12.  Never agree to pay for products or services in advance.

13.  Get estimates and ask for references on home repair offers and other products or services.

14.  If you suspect fraud, contact your local law enforcement agency immediately.

protect yourself with a few simple steps
Go digital. By paying bills online, you reduce the risk that checks and statements containing personal information may be stolen by identity thieves. And have your paycheck deposited electronically into your account. 

Monitor accounts online and frequently. Use Lake Elmo Bank's and other financial institutions' websites to check for signs of fraud, and report suspicious or unauthorized activity immediately. Consumers with 24/7 access to account activity are most likely to uncover fraud the fastest.

Install and update security software. Make sure you have a firewall, antispyware, antivirus software, and browser security software on your home computer.

Never give personal information to callers. Don't respond to phone messages that prompt you to call another telephone number about your account. Similarly, don't send account information via e-mail messages--they're not secure.  Don't respond to unsolicited or strange emails. Use contact information you already have for the financial institutions with which you do business.

Shred it. Get rid of sensitive papers and statements you no longer need that contain personal information.

When online don't click on any links within a pop-up as they can load a virus onto your computer or mobile device.  Don't shop on unknown sites.  Research the online merchant first to see if there are any complaints against them. 

Finally, change a few daily habits. Mail bills from a locked mailbox; secure sensitive mobile data stored on a laptop, PDA (personal data assistant) or phone; and don't carry your Social Security card in your wallet unless you need it for a specific purpose on that given day. A stolen wallet that contains a Social Security card--as well as your address and other forms of identification--is like handing over your identity to a thief.

what you can do if you fall victim
Contact your financial institution immediately and alert it to the situation.  If you have disclosed sensitive information in a phishing* attack, you should also contact one of the three major credit bureaus and discuss whether you need to place a fraud alert on your file, which will help prevent thieves from opening a new account in your name.  Here is the contact information for each bureau's fraud division: 

Order your free credit reports. A regular review of your credit file may detect unauthorized accounts or other  fraudulent activity. Go to to order one free report per year from Equifax, TransUnion, and Experian.

P.O. Box 740250
Atlanta, GA 30374 

P.O. Box 1017
Allen, TX 75013

P.O. Box 6790
Fullerton, CA  92634

Click here for a website that will provide you with some additional information on what steps you should take right away!

beware of scams
For more information on the latest  scams and how to protect yourself from identity theft, click on any of the following links:

Check out the latest Scams 

Identity Theft Resources 

How to Guard Against Internet Thieves 

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