Guarding Your Finances: Protecting Yourself from Fraud and Identity Theft

Home Blog Guarding Your Finances: Protecting Yourself from Fraud and Identity Theft

Posted On: April 3, 2024 by Peoples Bank of Kankakee County in: Cybersecurity

In today's digital age, where convenience and connectivity go hand in hand, protecting yourself from fraud and identity theft is more crucial than ever. Fraudulent activities can lead to financial losses, damage your credit score, and even impact your personal life.

Here are essential tips to help you safeguard your finances and personal information:

1. Monitor Your Accounts Regularly:

Stay vigilant by frequently checking your bank statements, credit card transactions, and other financial accounts. Early detection of suspicious activities allows you to take swift action and mitigate potential damages.

2. Set Up Account Alerts:

Take advantage of these features to receive notifications for significant account activities, such as large transactions, low balances, or login attempts. Timely alerts empower you to address potential threats promptly.

3. Protect Personal Information:

Be cautious about sharing personal information, both online and offline. Avoid providing sensitive details like Social Security numbers, passwords, or financial information through unsecured channels. Legitimate organizations will not request such information via email or phone.

4. Use Strong and Unique Passwords:

Strengthen your online security by using complex, unique passwords for each of your accounts. Incorporate a mix of letters, numbers, and symbols, and update your passwords regularly. Consider using a reputable password manager to keep track of your login credentials securely.

5. Enable Two-Factor Authentication (2FA):

Add an extra layer of protection to your accounts by enabling two-factor authentication where available. This typically involves receiving a code on your mobile device or email, providing an additional barrier against unauthorized access.

6. Shred Important Documents:

Dispose of sensitive physical documents, such as bank statements, medical records, and credit card offers, by shredding them. This prevents identity thieves from accessing your personal information through discarded paperwork.

7. Educate Yourself on Common Scams:

Stay informed about prevalent scams and phishing tactics. Be wary of unsolicited emails, messages, or phone calls requesting personal information. Verify the legitimacy of any communication from unfamiliar sources.

8. Secure Your Devices:

Install and regularly update security software on your devices, including antivirus and anti-malware programs. Keep your operating system and applications up to date to patch potential vulnerabilities that fraudsters might exploit.

9. Be Cautious with Public Wi-Fi:

Avoid accessing sensitive accounts or conducting financial transactions over public Wi-Fi networks. If necessary, use a virtual private network (VPN) to encrypt your internet connection and protect your data from potential eavesdroppers.

10. Check Your Credit Report:

Regularly review your credit report for any unusual activity. Obtain free annual credit reports from major credit bureaus to ensure the accuracy of your financial information.

Remember, protecting yourself from fraud and identity theft is an ongoing process. By adopting these practices and staying informed, you can fortify your defenses and enjoy a more secure financial journey. Stay vigilant, stay secure!

Peoples Bank of Kankakee County. Member FDIC.

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

We have standard overdraft practices that are available after your account has been open for 30 days and as long as you maintain your account in good standing.
We also offer an overdraft protection plan, Overdraft Protection Sweep, a link to a savings account. It may be less expensive than our standard overdraft practices. To learn more, ask us about this plan.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

After your account has been open for 30 days and as long as you maintain your account in good standing, we do authorize and pay overdrafts for the following types of transactions:

Checks and other transactions made using your checking account number
Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

ATM transactions
Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Peoples Bank of Kankakee County pays my overdraft?

Under our standard overdraft practices:

We will charge you a fee of up to $30 each time we pay an overdraft.
The maximum daily overdraft fee per presentment or item paid using the Overdraft Reserve Program is $150.00 per day.
No per item handling fee will be charged on de minimis overdrafts. De minimis overdraft for this policy means transactions that overdraw your account by $30 or less.
There is an overdraft fee of $5 per day that will be charged beginning the 4th consecutive business day your account is overdrawn.

Nonsufficient funds (NSF) fees - if an item drafted by you (such as a check) or a transaction you set up (such as a preauthorized transfer) is presented for payment in an amount that is more than the amount of money in your account and we decide not to pay the item or transaction, you agree that we can charge you an NSF fee for returning the payment. Be aware that such an item or payment may be presented multiple times by the merchant or other payee until it is paid, and that we do not monitor or control the number of times a transaction is presented for payment. You agree that we may charge you an NSF fee each time a payment is presented if the amount of money in your account is not sufficient to cover the payment, regardless of the number of times the payment is presented.

PAYMENT ORDER OF ITEMS - The law permits us to pay items drawn on your account in any order (for purposes of this section "items" means checks, orders and electronic transactions). To assist you in handling your account with us, we are providing you with the following information regarding how we process those items. When processing checks and orders drawn on your account our policy is to pay lower numbered checks and orders in numerical sequence, but electronic transactions are paid first in the order received. The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. There is no policy that is favorable in every instance. If the smallest items are paid first, you may have fewer NSF or overdraft fees, but the largest, and perhaps more important items (such as rent or mortgage payments) might not be paid. However, if the largest items are paid first, your most important items might be paid but it may increase the overdraft or NSF fees if funds are not available to pay all of the items. We think our policy attains a reasonable balance between minimizing additional costs to you and paying your more important items. We encourage you to make careful records and practice good account management. This will help you to avoid creating items without sufficient funds and incurring the resulting fees.

What if I want Peoples Bank of Kankakee County to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions after your account has been open for 30 days, you may opt in.

You have an ongoing right to change this consent at any time. If your overdraft privilege has been revoked for any reason, the opt-in or opt-out selection may not apply. Please contact your nearest office for more information.

Alternate ways to Opt In/Out or make changes:

By Phone. Our Customer Care Representatives can be reached at 815-936-7600.
By Mail. Peoples Bank of Kankakee County, 333 E. Court Street, Kankakee, IL 60901
In Person. Please visit your local office and ask a representative to help you decide which plan is best for you.