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Fraud Prevention

For questions relating to fraud, call (763) 972-3385 or (952) 472-5556 or contact us at reportfraud@mnlakesbank.com.

    Protecting You

 
Minnesota Lakes Bank is committed to educating our customers on fraud and identity theft protection.  Minnesota Lakes Bank will not send you unsolicited e-mails with embedded links or pop-up windows that ask for confidential information.

It is important that you report fraudulent activities quickly to put a stop to the fraud and minimize the impact these activities could have on your finances.  Learn about methods used to attempt fraud, and how to protect your financial information and personal identity.

The security of your assets and information is a top priority for Minnesota Lakes Bank.  Fraud is committed in every society and economy, but we use leading edge systems and technology to help secure data storage and transmission and provide round the clock monitoring in an effort to combat fraud.

    Reporting Fraud

 
Report any suspected fraud or identity theft activity concerning your accounts or services immediately to Minnesota Lakes Bank from 8 AM to 5 PM weekdays.  If after hours or on a weekend or holiday, report it promptly the next business day.

If you suspect you’re the victim of identity theft, you should contact these agencies:

  • The local police department where you live.
  • Identity Theft Hotline:  1-877-ID-THEFT  (1-877-438-4338)
  • www.consumer.gov/idtheft

Contact your credit card companies if you suspect your credit card numbers have been compromised.

Credit Bureau Fraud Hotlines:

  • Equifax: 1-800-525-6285
  • Experian: 1-888-397-3742
  • TransUnion: 1-800-680-7289

    Tips to Protect Your Identity

 
Reconcile your bank and credit card statements monthly. Make sure that there is nothing suspicious or out of the ordinary on your statements.

  • Guard your personal identification numbers (PINs). Do not keep your PIN with any of your credit, ATM, or check cards.
  • Report lost or stolen checks or credit, debit or ATM cards immediately.
  • Pay bills online or use a locked mailbox to avoid mailbox theft.  Cancel unused credit cards in addition to properly disposing of them.
  • Check your credit report annually.  For information, visit www.annualcreditreport.com or call 1-877-322-8228.
  • Do not give out information such as checking account, credit card or Social Security numbers over the phone unless you initiated the call.
  • Avoid passwords that are easy to discover like your mother’s maiden name or your birth date. Regularly change your passwords.  Also, create a username that is unique and difficult for others to guess.
  • Shred all documents containing personal information.
  • If you think you are a victim of identity theft, take action immediately.  Contact the local police, your bank(s), the three major credit reporting agencies and the Federal Trade Commission at 1-877-ID-THEFT (1-877-438-4338) or log on to its website at www.consumer.gov/idtheft.
  • Open and review bank account and credit card statements immediately after you receive them to ensure that there are no unauthorized or fraudulent charges on them.
  • Protect your passwords.  Memorize your passwords.  Do not write them down or share them with anyone.  Change them regularly and use combinations of letters, numbers, and “special characters” such as “pound” (#) and “at” (@) signs.
  • Do not use your Social Security number as a username or password. 

THIS NOTICE IS REQUIRED BY LAW.  Read more at FTC.gov.   You have the the right to a free credit report from AnnualCreditReport.com or by calling 877-322-8228, the ONLY authorized source under Federal law. 

 

    Definitions of Fraud and Identity Theft


What is fraud?

There are two principal methods of getting something from others illegally.  Either you physically force someone to give you what you want, or you trick them out of their assets.  Fraud always involves deception, confidence, and trickery.  No definite and invariable rule can be laid down as a general proposition in defining fraud, as it includes surprise, trickery, cunning and unfair ways by which another is cheated.

The potential for fraud exists with virtually every transaction you conduct.  To aid in the prevention of fraud, check out our tips on how to be alert and what you can do to minimize your risk of fraud.

What is identity theft?

Identity theft takes place when someone steals your personal information (such as your name, social security or bank account number) to commit fraud. These thieves use the information to repeatedly commit fraud in an attempt to duplicate your identity. Take action to minimize the chances of becoming a victim of identity theft.