The post-holiday season can be a frenetic time of year. People are busy making plans, ramping up work after a break, completing errands they’ve put off, pursuing resolutions they’re excited about, and receiving loads with bills from the previous month’s shopping. It’s the perfect time for identify thieves to blend into the fray and work their game.

That’s why the Federal Trade Commission (FTC) made the last week in January Identity Theft Awareness Week for several years running. Identity theft is a growing concern, and it's more important than ever to take proactive steps to protect your personal information.

Identity theft occurs when someone uses your personal information without your consent to commit fraud or other crimes. This can include opening credit cards, filing taxes or getting medical services in your name. The consequences of identity theft can be severe, including financial loss, damage to your credit rating and even legal problems.  

How to Protect Yourself

There are several steps you can take to protect yourself from identity theft:

  • Strong passwords: Use strong, unique passwords for all your online accounts to avoid online scams. A strong password should be at least 12 characters long and include a mix of uppercase and lowercase letters, numbers and symbols.  
  • Regular monitoring: Review your bank, credit card and health insurance statements for suspicious activity. Make sure each item is something you actually bought or medical care you received. Also be sure to monitor your credit report for better credit card security of any unauthorized accounts or changes. Better yet: Freeze your credit free of charge with each of the major credit bureaus, which makes it harder for thieves to access. If someone needs to see your credit, you can temporarily lift the freeze.
  • Beware of phishing scams: Be cautious of emails, phone calls or text messages that ask for your personal information as they may be phishing scams. Phishing scams trick you into clicking on a link or downloading an attachment that will install malware on your computer.  
  • Safeguard your social security number and passwords: For identity protection, never carry your Social Security card with you unless absolutely necessary. When you provide your Social Security number, be sure to do so in a secure manner, such as over a secure website or by mail. Do not provide your passwords to anyone. Scammers often try to pose as an authoritative entity, such as a student loan program or another government agency such as the U.S. Department of Homeland Security (DHS), to pressure you into revealing personal information over the phone.
  • Shred sensitive documents: Shred documents that contain your personal information before you throw them away. This includes bank statements; credit card offers and old tax returns.  

Scams evolve and change to blend in with culture and take advantage of new technology, such as AI-enabled mimicry and other “deep fake” scams. Subscribe to the FTC to stay aware of the latest scams: https://www.ftc.gov/subscribe

What to Do If You Become a Victim

If you think you may be a victim of identity theft, it's important to act immediately.

  • Contact the FTC: Report the identity theft to the Federal Trade Commission (FTC) online at IdentityTheft.gov or by phone at 1-877-ID-THEFT.  
  • Place a fraud alert: Place a fraud alert on your credit reports with one of the three nationwide credit reporting agencies: Equifax, Experian, or TransUnion.  
  • Close affected accounts: Close any accounts that have been compromised or opened fraudulently.
  • File a police report: File a police report with your local law enforcement agency.  

How We Can Help

At Maspeth Federal Services, we take the security of your personal and financial information seriously. Our staff is always here to assist with any questions or concerns about your transactions, and we offer several products and services to help protect you from identity theft:  

  • Fraud Detection: Powered by EnFact® from Fiserv, our system uses a combination of human analysis by experienced fraud experts and automated notifications to monitor your accounts in real time. If we detect any suspicious activity, we’ll notify you and guide you through resolving the issue. If you receive a call, the agent will ask for the account holder by name and provide you with the last four digits of your account number. You will NEVER be asked to reveal any confidential information about your account.
  • Card Valet: This is a card management tool that allows you to protect your card while managing it online. Set up transaction alerts, lock your card instantly if it’s lost or stolen and customize spending categories to stay on top of your spending.

An ounce of prevention is worth a pound of cure

Identity theft is a serious crime, but there are steps you can take to protect yourself. By using strong passwords, monitoring your accounts regularly, and taking advantage of Maspeth Federal Savings fraud detection tools, you can minimize your risk and act quickly if necessary. Remember, we are here to help you protect your personal and financial information, so you don’t end up a victim.