Baylake Bank Together with ABA Recommend Online Safeguards
Baylake Bank, together with the American Bankers Association
(ABA) urges bank customers to take an active role in protecting
their privacy. Banks use a combination of safeguards to protect
customer data, which allows them to detect unusual spending
patterns and protect accounts. However, customers also play an
important role in safeguarding personal financial information.
“Banks protect customer privacy because their future depends on
it,” said Frank Keating, ABA president and CEO. “While banks
provide strong data protections, customers are the first line of
defense. A partnership between banks and customers is the most
effective way to protect financial data.”
To help ensure the safety of personal information, customers
should follow these tips:
1. Create "c0mplic@t3d" passwords.
Avoid using birthdays, pet names, and simple passwords like
12345. It is also important to change passwords at least
three times a year. Because friendly theft – theft by
someone the victim knows – is the most common type of
identity theft or fraud, don’t share your passwords with
family members, and be mindful of who has access to your
2. Continually monitor your accounts. Check account
activity and online statements often, instead of waiting for
the monthly statement. You are the first line of defense
because you are able to immediately distinguish if a
transaction is fraudulent. If you notice unusual or
unauthorized activity, notify your bank right away. When a
customer reports an unauthorized transaction, the bank will
cover the loss and take measures to protect the account.
3. Protect yourself online. Be sure computers and
mobile devices are equipped with up-to-date anti-virus and
malware protection. Never give out your personal financial
information in response to an unsolicited email, no matter
how official it may seem. Your bank will never contact you
by email asking for your password, PIN, or account
information. Only open links and attachments from trusted
sources. When submitting financial information on a website,
look for the padlock or key icon at the top or bottom of
your browser, and make sure the Internet address begins with
https (note the "s" at the end). This signals that your
information is secure during transmission.
If you suspect that your personal
information has been compromised and you may be a victim of
fraud, you should take the following steps:
• Call your bank and credit card
issuers immediately so they can take necessary steps to
protect your account.
• File a police report and call the fraud unit of the three
• Consider placing a victim statement in your credit report.
• Make sure to maintain a log of all the contacts you make
with authorities regarding the matter. Write down names,
titles, and phone numbers in case you need to re-contact
them or refer to them in future correspondence.
For more advice, contact the FTC’s ID
Theft Consumer Response Center at 1-877-ID THEFT