SVP & CIO, Waterford Bank, N.A.
Capital One Breach
This week, Capital One announced the breach of more than 100 million credit card applications and accounts. As usual, this number is staggering in its scope and we all wonder how it will affect us. You should always be careful when talking about your financial information to anyone, but now, particularly if you are a Capital One customer or if you applied for a Capital One credit card earlier this year, you should be EXTRA careful.
I know you have heard these tips before, but it doesn’t hurt to have a refresher from time to time:
- NEVER click on links in text messages or emails that are unsolicited. If there is information that is being requested, go to the website of the institution and log in directly. If there is information needed, there should be a message waiting for you.
- If someone calls asking you for information, do not give out card numbers, expiration dates, CV2 Codes (on the back of the card) or social security numbers. A caller should already have this information. If they start asking for this, hang up and call the institution directly.
- Regularly (daily!) check you accounts to see if there are any suspicious transactions, but especially if you receive a text, email or phone call that you are not expecting.
- Use the TOOLS which we make available to you to combat fraud:
It’s a Team Effort
In this day and age, data breaches are all around us. Our financial institutions put up many walls and protections to prevent breaches, but the crooks always seem to find a way. YOU are the last line of defense. Ultimately, it is up to you to protect your own information, to not give it away to a scammer, and to monitor your accounts to detect suspicious transactions as soon as possible.
We are here to help – please call us with ANYTHING that is suspicious.
About the Author
Cathy Martin is the SVP and CIO of Waterford Bank, N.A. She enjoys providing security and fraud prevention tips to help customers better protect themselves and their finances.