15 February 2011

Mobile Fraud Prevention Tips and Wells Fargo Offers Online - new 2011 Identity Fraud Survey

Mobile Fraud Prevention Tips and Wells Fargo Offers Online ; Wells Fargo & Company announced it has published a list of tips to help people keep fraud prevention top-of-mind as encouraging findings are released in the new 2011 Identity Fraud Survey Report from Javelin Strategy & Research, an independent industry research firm.

According to Wells Fargo, the study found that the number of reported identity fraud incidents in 2010 declined 28 percent over 2009.

"Wells Fargo has a long commitment of educating people about fraud and helping them protect themselves," said Secil Watson, senior VP, Wells Fargo Internet Services Group. "We offer tips, the Fraud Information Center, and we co-sponsor the Javelin Strategy & Research Identity Fraud Survey Report as part of this commitment. We'd like to see continued declines in reported fraud and we want to underscore the importance of people's continued vigilance in protecting their accounts and personal financial information."

According to Wells Fargo, the tips include, but are not limited to:

- Keep updated: Keep your computer operating system up-to-date to ensure the highest level of protection. Help protect your computers with regular anti-virus software updates.

- Change passwords: It's a good idea to regularly change your online banking passwords. Be sure your online banking username and password differ from those used on other websites.

- Use official apps: Mobile banking applications, or "apps," are programs you can download to your mobile device. To ensure the safety of your personal and account information, download mobile apps from reputable sources only. If you have suspicions about the authenticity of a mobile banking app, web-enabled mobile phone users can bookmark and visit the company's official mobile banking site, including wf.com.

- Go paperless and monitor: According to Javelin Strategy & Research, fraudsters continue to use traditional methods to gather information, including paper mail that may contain account numbers or other confidential information. Wells Fargo's multi-layered approach to online and mobile banking security makes going paperless - through bill pay and online statements - good alternatives to paper.

- Sign up for alerts: Keep a close watch on your finances to quickly spot suspicious activity. Wells Fargo offers many types of alerts, such as a low balance alert that tells you when your account balance falls below your chosen amount. Based on customer preferences, alerts can be sent through email or to a mobile device for quick notification. In addition, Wells Fargo Visa credit card customers can sign up for Rapid Alerts to be alerted near real-time when their cards are used.

- Review credit report: At least once a year, check your credit report for any suspicious or unauthorized activity.

- Be careful what you disclose: If you're suspicious about a request for your personal information that you've received through an email, text message, website, by mail or phone, first verify the request. Use a legitimate source to confirm the request by calling the number listed on the company's website, billing statement, or on the back of the debit or credit card. Never share your mother's maiden name, Social Security number, bank account numbers, or account usernames and passwords. Keep your phone number and home address private so they can't be collected.

- Store a copy of your personal & financial information in a secure location: Take a moment to inventory or photocopy the personal and financial information you carry in your purse or wallet, including items such as your driver's license and credit cards. Store this list in a secure location.

In addition to a layered security approach to online, mobile, and overall banking, Wells Fargo provides a variety of tools and services to help customers monitor their accounts and protect their information. Wells Fargo makes its Fraud Information Center available to everyone on wellsfargo.com.

Wells Fargo Insurance also offers a comprehensive service called Identity Theft Protection, provided by Trilegiant, which includes up to $10,000 in identity theft insurance, a personal credit report, regular triple-bureau credit updates, and ongoing monitoring that helps customers manage their credit and alerts them to activities that may indicate identity theft (restrictions and deductibles apply, refer to terms and conditions).

Wells Fargo is a provider of online and mobile financial services for individual consumers, small and middle market businesses, and corporations with a full range of banking, money movement, investing, asset management, and other financial and risk management products.


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