Financial Crime Prevention Tips

 

You work hard for the money you earn, and Iowa State Bank & Trust Company offers several savings accounts and checking accounts to give you a place to store your money. Unfortunately, there are individuals out there who are also working hard, but they’re not working hard at saving their own money; they’re working hard at trying to take your money.

In observance of October as Financial Crime Prevention Month, Iowa State Bank & Trust Company is here to offer you tips to help keep your money safe.

Switch to E-Statements

E-Statements are a great way to keep track of your savings and checking accounts, showing you how your money was spent each month. Unlike paper statements, which are mailed to your home, e-statements are delivered to you via a secure email and can only be accessed through a password of your choosing. This makes it much less likely that your financial information can be taken away.

Be Aware of Scams

The fact of the matter is this: criminals are getting smarter and constantly thinking of new ways to try and steal your money. Among the newest trends in financial crimes are people impersonating banks or credit card companies.

These people will pretend to be calling or emailing to let you know of a problem with your account, and that you need to verify your account. They will then ask you to submit your account information. You should NEVER give out your account information to people you do not know, whether it’s over the phone, through email or in person.

If you believe your accounts may have been compromised, or that you may be at risk for identity theft, there are steps you can take to help restore your money. First, contact Iowa State Bank & Trust to let us know of any problems you are noticing. Next, notify the local police so they can begin investigating the crime.

For more information about how you can protect yourself from fraud, visit the Iowa State Bank & Trust Company website.