Published: February 11, 2010
Wells Fargo Provides Tips to Protect Your Money & Your Information
SAN FRANCISCO - (BUSINESS WIRE) - Wells Fargo & Company (NYSE: WFC) continues its long tradition of
educating consumers by sharing fraud prevention tips today that coincide
with new findings of the 2010 Identity Theft Survey Report from Javelin
Strategy & Research, an independent industry research firm.
"Wells Fargo co-sponsors the Javelin Strategy & Research ID Fraud Survey
Report because the report helps raise consumer awareness on identity
fraud," said Teddy De Rivera, executive vice president, Wells Fargo
Internet Services Group. "We believe this research helps consumers
become better informed about current fraud attempts and methods. At
Wells Fargo protecting our customers and their information is a top
priority. Wells Fargo has a dynamic, layered approach to Online Banking
and Mobile Banking security that protect customers, their accounts and
information and we continue to enhance our systems and processes as
electronic banking evolves."
In addition to using comprehensive controls and procedures to protect
customers' funds and information, Wells Fargo advises everyone to take
an active role in protecting their personal and account information.
Here are seven tips:
1. Don't Over-Share Information on Social Media Sites: Social
networks may encourage people to share information that should be kept
private. Avoid sharing personal details such as your birthday, your
mother's maiden name, your pet's name, or names of high schools you
attended through social networking sites. Keep your mobile and home
phone numbers, email address, and home address private.
2. Monitor Your Financial Records & Accounts on a Regular Basis:
Make sure you receive statements on time and when scheduled. Review
account records and statements to verify that the correct owners are
listed. Consider using electronic tools such as alerts sent to your
email address or mobile device to stay abreast of your account activity.
Use online and mobile banking to view a snapshot of your accounts. In
addition to monitoring bank accounts, consumers should also be
monitoring their credit reports. Wells Fargo makes available an optional
credit monitoring service called Identity
Theft Protection, which includes up to $10,000 in identity theft
insurance, a personal credit report and triple-bureau quarterly updates
(restrictions apply, refer to terms and conditions).
3. Report Fraud Incidents to the Authorities: Nearly half of all
fraud victims surveyed in the Javelin survey filed a police report,
resulting in more arrests, prosecutions, and convictions of fraudsters
and identity thieves than in the prior year. To help consumers keep
track of who they have contacted, Wells Fargo offers an Identity
Theft Repair Kit, which includes checklists of steps for resolving
identity theft and resolution worksheets with phone numbers for Wells
Fargo, credit bureaus and other agencies.
4. Be in the Business of Protecting Your Information: Small
business owners should be vigilant: separate accounting
responsibilities, making payables and receivables processing different
work positions; protect all accounting documents by locking away check
stock, signature equipment, invoices and critical account information;
and monitor the movement of employees, vendors and contractors in and
out of your offices. Reconcile and monitor account activity frequently.
Examine bank statements punctually.
5. Go Electronic with online access: Regular account review using
online banking can help identify fraudulent transactions sooner. Wells
Fargo customers can set up automatic alerts to help detect potential
fraud more quickly.
6. Think Defensively: Make sure all of your computers' anti-virus
software is up-to-date. Also install browser, operating systems and
software updates as soon as they are available. Use automatic alerts to
stay on top of account activity. When making purchases online, ensure
the website address starts with https://... The "s" helps ensure that
your information will be passed along in a secure manner. Use legitimate
sources to contact Wells Fargo:
- Type https://www.wellsfargo.com
into a web browser and clicking on the "Contact Us" link.
- Call 800-869-3557 for Wells Fargo customer service.
- Find official contact information on online or paper bank statements
from Wells Fargo.
- Confirm the telephone number by cross-checking it with the phone
number on the back of your ATM, debit or credit card.
7. Be Savvy with Mobile Devices: Never disclose personal
information, such as account numbers, passwords, or any combination of
sensitive information through text message, email, or over the phone. If
a mobile banking application seems suspicious, web-enabled mobile phone
users can bookmark and visit WF.com, Wells Fargo's official mobile
banking site.
"We encourage all of our customers to take advantage of Wells Fargo's
tools and services that allow them to monitor their accounts the way
they want," said Lisa H. Robinson, senior vice president, Wells Fargo
Internet Services Group. "We want to underscore the importance of
customers checking their accounts regularly, whether they're reviewing
online or paper statements, using mobile banking to see a snapshot* of
account information, or viewing account information at the ATM."
Wells Fargo also provides Hands
on Banking, a free, interactive program that explains the essentials
of money management and features lessons on how customers can protect
themselves and keep their information secure. The program offers a
special course targeted to young adults. In addition, Wells
Fargo's Fraud Information Center (https://www.wellsfargo.com/privacy_security/fraud),
located on Wells Fargo's public web site, provides fraud awareness,
prevention tips, and resolution tools for all consumers to learn about
fraud.
Wells Fargo has a tradition of helping consumers protect themselves
against fraud and, if necessary, resolve it. In addition to supporting
the Identity Theft Survey Report from Javelin Strategy & Research since
it began in 2003, Wells Fargo is a founding member of ITAC, the Identity
Theft Assistance Center. In addition, Wells Fargo along with Bank of
America, BB&T and JP Morgan Chase formed Early Warning Services, to help
eliminate fraud in financial systems. Established as a trusted source
for strategic fraud management, Early Warning Services facilitates the
secure exchange of information and knowledge between organizations for
the sole purpose of preventing fraud. Wells Fargo also partners with the
Anti-Phishing Working Group, and law enforcement, as necessary.
Wells Fargo Online uses a combination of front-end (e.g. encryption,
security questions, out-of-band two-factor authentication called
Advanced Access, timed log-offs, individualized username and password,
account alerts) and back-end controls (e.g. real-time risk
analysis, computer fingerprinting, continuous surveillance and
technology updates, powerful firewalls) for a safe and secure
website. These measures are highlighted in the How
We Protect You section of the web site (https://www.wellsfargo.com/privacy_security/online/protect).
Wells Fargo guarantees that its customers will be covered for 100% of
the funds in their Wells Fargo account in the unlikely event that
someone the customer has not authorized removes those funds through
Wells Fargo Online or Wells Fargo Business Online. Customers are
responsible for protecting their password and account information and
for providing prompt notification of an unauthorized transaction. Mobile
Banking is also covered by our Online Security Guarantee. Visit Online
Security Guarantee to learn more.
About Wells Fargo Online & Mobile Banking
Wells Fargo is a leading provider of online and mobile financial
services for individual consumers, small and middle market businesses,
and large corporations with a full range of banking, money movement,
investing, asset management, and other financial and risk management
products. Wells Fargo launched its personal computer banking service in
1989 and was the first bank to offer Internet banking through
wellsfargo.com in May 1995. Wells Fargo has been named the No. 1
Consumer Internet Bank in North America by Global Finance
magazine (November 2009), earned an "A" grade from ABI Research for
Wells Fargo Mobile. ABI evaluated and graded mobile banking offerings
from 29 U.S. banks in four categories - reach, breadth of services
offered, security, and discoverability of mobile banking services and
consumer information. (September 2009); ranked the No. 1 website out of
68 leading U.S. corporations' websites for technology innovation by the
Brookings Institution (July 2009) and was awarded two Monarch Innovation
Awards by Barlow Research for online services for small business,
including Foreign Exchange Online and My Spending Report with Budget
Watch (February 2009).
About Wells Fargo
Wells Fargo & Company is a diversified financial services company with
$1.2 trillion in assets, providing banking, insurance, investments,
mortgage and consumer finance through more than 10,000 stores and 12,000
ATMs and the internet (wellsfargo.com) across North America and
internationally.
*Which may not include all of a customer's outstanding transactions.
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Wells Fargo & Company
Media
Michele Rene
Scott, 415-396-8380
or
Investors
Jim Rowe,
415-396-8216
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