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Protecting Your Customers from Identity Theft

Question: 
What are some simple ways financial institutions can protect their customers from identity theft?
Answer: 
  • Adhering to privacy policies and establishing a robust authentication method to open new accounts. Translated means two forms of easily replicated ID are insufficient and data bases that reflect a potentially fraudulent ID holder is equally insufficient.
  • Shredding all customer personal information or sponsoring a community shred day.
  • Employing anti-phishing solutions to ensure Web sites set up to steal pins and passwords aren't emplaced.
  • Limiting employee access to customers' sensitive information.
  • Monitoring accounts for suspicious activity that doesn't fit the normal customer pattern.
  • Educating, training and empowering your employees to take action when they suspect fraud.

Secure Identity Systems was initially created to mitigate the risk for financial institutions by identifying growing security threats. Today, SIS serves financial institutions, businesses and families with the most robust products and services available. For more information on Secure Identity Systems, please call 877.304.3349 or visit SecureIdentitySystems.com. Follow Secure Identity System on Facebook and Twitter for security updates and special offers.

First published on 09/15/2008

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