By Donna Goodrich

Protecting Your Identity feature bb&t Perspectives

Identity theft has become one of the fastest growing crimes in America. A report from the Pew Research Center found 18 percent of U.S. adults online have had “important personal information stolen” – such as their Social Security numbers, credit card numbers or bank account information. Even with tight security measures, large corporations and government agencies have not been immune to security breaches. The Federal Trade Commission reports one in eight adults have been victimized by identity thieves in the past five years. Even children are now susceptible to this crime as it continues to grow.

Europay, Mastercard and Visa (EMV) Chip Cards

Another measure that helps prevent identity theft is a credit card with an embedded EMV chip. This technology significantly increases the security of a card when used at a chipenabled terminal. Internationally, the EMV chip technology is standard, and over the next couple of years, chip-enabled terminals will become standard in the United States. The BB&T Vantage® Visa Signature® Credit Card, available to BB&T Wealth clients upon credit approval, is now EMV chip-enabled.

Other Protective Measures

Protecting information is vital to prevention. Here are a few other suggestions for avoiding identity theft:

  • Don’t include your driver’s license or Social Security number on your personal checks.
  • Don’t provide your phone number or birthdate on social networking sites.
  • Set up alerts in mobile banking for large withdrawals and low balances.
  • Lock your smartphone to prevent unauthorized access to the personal information it contains.
  • Never give your personal or financial credentials to someone who calls you.
  • Use your driver’s license – not your passport – as primary identification while abroad. Passports are a highly coveted item abroad and yield a high price on the black market.
  • Prevent theft of financial statements by opting in for electronic statements.
  • Don’t write passwords down. If you must write them down, keep them secure or in a password protected document.
  • Clear data properly when disposing a computer system, hard drive, recordable CD, DVD or backup tape. Simply deleting data and reformatting the hard drive isn’t enough.
  • Limit sharing of your family’s Social Security numbers. Children are more likely than adults to have their identities stolen because their credit is not damaged.
  • When traveling, use credit cards only at airports, major chains and shops using secure payment systems.
  • Be wary of ATMs on the road. You can open a reloadable BB&T MoneyAccount® Visa prepaid card, which allows you to make purchases and withdraw money from ATMs, but limits your exposure to the amount on the card. It’s easy for you to reload from your checking account when needed.*

Planning ahead is your best defense against identity theft, and new products and services can help arm you in the battle to protect your identity. Ask your Wealth advisor for more information about BB&T’s identity protection services.

By Donna Goodrich

Protecting Your Identity feature bb&t Perspectives

Identity theft has become one of the fastest growing crimes in America. A report from the Pew Research Center found 18 percent of U.S. adults online have had “important personal information stolen” – such as their Social Security numbers, credit card numbers or bank account information. Even with tight security measures, large corporations and government agencies have not been immune to security breaches. The Federal Trade Commission reports one in eight adults have been victimized by identity thieves in the past five years. Even children are now susceptible to this crime as it continues to grow.

Europay, Mastercard and Visa (EMV) Chip Cards

Another measure that helps prevent identity theft is a credit card with an embedded EMV chip. This technology significantly increases the security of a card when used at a chipenabled terminal. Internationally, the EMV chip technology is standard, and over the next couple of years, chip-enabled terminals will become standard in the United States. The BB&T Vantage® Visa Signature® Credit Card, available to BB&T Wealth clients upon credit approval, is now EMV chip-enabled.

Other Protective Measures

Protecting information is vital to prevention. Here are a few other suggestions for avoiding identity theft:

  • Don’t include your driver’s license or Social Security number on your personal checks.
  • Don’t provide your phone number or birthdate on social networking sites.
  • Set up alerts in mobile banking for large withdrawals and low balances.
  • Lock your smartphone to prevent unauthorized access to the personal information it contains.
  • Never give your personal or financial credentials to someone who calls you.
  • Use your driver’s license – not your passport – as primary identification while abroad. Passports are a highly coveted item abroad and yield a high price on the black market.
  • Prevent theft of financial statements by opting in for electronic statements.
  • Don’t write passwords down. If you must write them down, keep them secure or in a password protected document.
  • Clear data properly when disposing a computer system, hard drive, recordable CD, DVD or backup tape. Simply deleting data and reformatting the hard drive isn’t enough.
  • Limit sharing of your family’s Social Security numbers. Children are more likely than adults to have their identities stolen because their credit is not damaged.
  • When traveling, use credit cards only at airports, major chains and shops using secure payment systems.
  • Be wary of ATMs on the road. You can open a reloadable BB&T MoneyAccount® Visa prepaid card, which allows you to make purchases and withdraw money from ATMs, but limits your exposure to the amount on the card. It’s easy for you to reload from your checking account when needed.*

Planning ahead is your best defense against identity theft, and new products and services can help arm you in the battle to protect your identity. Ask your Wealth advisor for more information about BB&T’s identity protection services.

About the Author

Donna Goodrich

Donna Goodrich

Senior Executive Vice President, Deposit and Operations Manager

Donna received her bachelor’s degree from the University of Virginia and is a Chartered Financial Analyst. Donna was named to the BB&T Executive Management team in December 2006. She serves on the BB&T Market Risk, Liquidity and Capital Committee, is the chair of the Deposit Review Committee and vice chair of the Executive Pricing Committee. Donna is also a pastchair of the North Carolina Bankers Association and currently serves as chair of the board for the Federal Home Loan Bank of Atlanta.