In observance of Identity Theft Awareness Week, St. Ansgar State Bank encourages customers to be aware of the many different types of identity theft and how to avoid it. The Federal Trade Commission received more than 1 million reports of identity theft in 2024, with credit card abuse being the main method of identity theft.
 
“Identity theft becomes more sophisticated every year, and we want our community to stay one step ahead,” said Caylin Williams, Retail Manager. “We urge our customers to stay vigilant and contact us if something feels off.”
 
St. Ansgar State Bank encourages you to stay aware of common types of identity theft and how to avoid it:
 
Account takeover fraud – In this type of fraud, scammers use stolen information like usernames, passwords and account numbers to take over social media and bank accounts. Then, they reset passwords or emails to lock the user out of their own accounts.
  • Action step – Enable multifactor authentication (MFA) and consider using a password manager. MFA adds an extra security step to prevent unauthorized access even if your password is stolen. Password managers create strong, difficult-to-guess passwords to keep criminals at bay.
Debit and credit card fraud – Fraudsters use stolen account information to withdraw funds or make purchases with your card.
  • Action step – Put a freeze on cards the minute they’ve been lost or misplaced, and quickly request a new card if the old one is lost for good. Additionally, regularly monitor accounts for suspicious transactions and report it quickly.
Tax fraud – With tax season in full swing, it’s important to avoid fraudsters posing as the IRS. This occurs when criminals use your Social Security number to file a tax return to steal your refund.
  • Action step – Be aware the IRS will always make its first official contact via mail. Do not answer or respond to any supposed calls or texts from the IRS if you haven’t first received a letter.
For more information on how to prevent identity theft as well as what to do if you become a victim of this type of fraud or scam, contact the bank directly via phone at 641-713-4501.