Mississippi’s financial institutions are teaming up to bring awareness to the risks of identity theft and resources available for residents to stay safe as the Mississippi Bankers Association recognizes December as Identity Theft Awareness Month.
A study from Javelin Strategy and Research, a financial analyst company, found more than $24 billion was lost in 2021 due to identity theft. The figure represents an increase of $13 billion from the year before, the firm found, which it attributed to changes in digital technology brought on by the COVID-19 pandemic.
Mississippi Bankers Association President and CEO Gordon Fellows said in a news release that December is a prime time for identity theft as so many people are shopping, both in person and online.
“Protecting customers is paramount for banks, and Mississippi banks and banks around the country have placed an increasing amount of effort on protecting customers from fraud and identity scams in recent years,” he said. “With the increased shopping and spending that can happen in December, this month especially puts a lot of people at risk for various fraudulent activity, and banks have plenty of tools in place to be ahead of the game.”
Lela Tisdale, corporate communications specialist for Citizens National Bank, said identity theft is a serious threat, and Citizens has a number of resources dedicated to keeping its customers safe. The bank offers a wealth of educational information about identity theft, ways to protect personal data and more online at yourcnb.com/staysecure.
“We’ve also gone so far to offer a Free Identity Theft Protection Package on our PremierBlue Checking account that gives our customers free access to their credit report at any time as well as an Identity Theft Resolution Service in the event that they become a victim of this crime,” she said.
Another Meridian financial institution, Great Southern Bank, also provides resources and information to help customers prevent identity theft. Michael Gibson, executive Vice President and chief banking officer at Great Southern, said the bank has the tools needed to respond quickly when a potential threat is detected.
“At Great Southern Bank, we spend a lot of time and effort on protecting customers and their information. Nothing is more important to us than your security, and we have advanced fraud detection software combined with well-trained teams on the lookout for all kinds of suspicious activity on accounts,” he said. “In the event that something does happen, we also have procedures in place to act quickly to rectify the situation.”
Some ways to protect against identity theft are to shred documents that contain sensitive information such as account numbers, birthdays and addresses, be careful about giving social security numbers to unknown sources, protect credit cards, use strong passwords and biometric security measures such as fingerprint and facial recognition, have the post office hold mail when going out of town, routinely check credit reports and bank statements for discrepancies and more.
Meridian Police Chief Deborah Naylor Young said Meridian, fortunately, does not see a lot of identity theft cases. Residents who believe their identities may be stolen, however, are encouraged to contact the department at 601-485-1893 to make a report.
Residents can also report identity theft to the Federal Trade Commission online at identitytheft.gov. The website also offers resources to develop a personal recovery plan with instructions on how to take action quickly to limit the damage.