Security & Fraud

Protecting Your Personal Information

In today’s digital world, protecting your personal information is critical. Drake Bank has procedures and monitoring tools in place to help keep your personal information secure and protect you from criminal activity. Learn more about fraud, identity theft, and security tips to help keep your sensitive information protected.

Card Security

Lost or Stolen Cards

If you think your debit card or credit card is lost, stolen, or compromised, contact us right away.

Debit Cards:

  • During business hours: (651) 224-5000
  • After hours: (800) 417-8715

Credit Cards:

  • During or after business hours: (800) 558-3424

Fraud Text Alerts

Fraud Text Alerts is a fast and free1 way to help monitor your debit card transactions and stop potential fraudulent purchases. If our fraud monitoring program detects suspicious activity on your debit card, you’ll receive an automated text to either approve the transaction or flag it as fraud.2

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Fraud, Scams, Data Breach & Identity Theft

Online Fraud

Online fraud is an attempt to acquire sensitive information (i.e., usernames, passwords, bank account or credit card information, etc.) by posing as a legitimate business. Fraudsters will use the obtained information to conduct illegal transactions. A common type of online fraud is called phishing. Fake emails, websites, and pop-ups are some examples of phishing attempts – and will usually request the recipient to open an attachment or click on a link that can contain malware.

Scams

Scams is a commonly used term for dishonest schemes or fraud. Scammers are looking to acquire sensitive information to gain access to your money. Common scams include fraudulent lottery winnings, ATM skimming, mystery shopping or job scams, and online auction site scams. It is important to make sure you know who you are sending and/or receiving money from – many scams require unsuspecting individuals to cash a check or wire money. Once the money is sent, it usually is difficult to recover, and the individual is responsible for the amount lost.

Data Breach

A data breach is an incident where sensitive information has potentially been viewed or stolen by an unauthorized individual from a legitimate business that stores sensitive client information.

Remember, Drake Bank will never ask you to provide account information. It is crucial to protect and safeguard sensitive information. Additionally, Drake Bank offers many fraud and security protection safeguards to protect against fraudulent activity.

Identity Theft

Identity theft is an attempt to acquire sensitive information (i.e., social security number, bank account number, etc.) in order to open new accounts or credit cards, initiate transactions, forge checks, or apply for loans in your name – often resulting in financial loss and credit damage.

Common Fraud, Scam, and Identity Theft Methods

  • Stealing wallets, purses, and/or checkbooks
  • Stealing mail
  • Dumpster-diving for discarded documents
  • Phishing through email or fake websites
  • Hacking computer systems or programs
  • Pretext calling by using a fake identity via phone

Security Tips

Sensitive Information

  • Only carry necessary identification documents on you. Never carry your social security card.

  • When asked for social security number, ask for the reason and, if possible, give a different identifier.

  • Keep identification documents in a secure location (i.e., safe deposit box).

  • Shred documents before discarding them.

  • Limit paper trails by opt-into eStatements and electronic receipts.

  • Monitor your accounts regularly through online or mobile banking.
  • Collect mail from your mailbox promptly to avoid mail theft.

  • Receive and pay bills online through Bill Pay and/or drop off paper bills or other secure documents in a U.S. Postal Service box instead of your home mailbox.

Email

  • Delete suspicious emails immediately and look for red flags in unexpected emails.

  • Never open links or attachments in unexpected email, texts, or other digital communication channels.

  • Do not provide sensitive information via email.

  • Use secure messaging systems when sending sensitive information to trusted contacts.

  • Remember, Drake Bank will never ask you for sensitive information or send any attachments via email.

Computer & Internet

  • Keep your computer, programs, and browsers up-to-date.

  • Use firewalls, anti-virus software, and pop-up blockers.

  • Scan your computer regularly for spyware or adware and remove suspicious results.

  • Use unique and strong passwords for different systems, including numbers, letters, punctuation, and special characters.

  • Protect your passwords and do not share them with others.

  • Change passwords regularly; every 90 days is recommended.

  • Use multi-factor authentication (MFA) when available to prevent unauthorized access to your accounts.

  • Sign-off of and/or lock your devices when they are not in use.

  • Store devices securely to avoid them being stolen.

  • Avoid using public networks at airports, hotels, coffee shops, etc.

  • Use secure websites for transactions and shopping by ensuring the webpage offer data encryption (i.e., lock symbol, begins with https://)

  • Beware of free internet downloads and avoid downloading programs from unknown sources, which can contain malware.

Bank Transactions

  • Use secure ATMs under video surveillance or inside a bank lobby.

  • Do not use ATMs where the card reader appears to be added on, fits poorly, or seems loose.

  • Never cash checks from an unknown origin. If you must accept a check from an unknown source, ask that it be drawn on a local bank so you can verify funds before cashing it.

  • Never wire funds to an unknown person.

  • Do not accept checks written for an amount larger than your requested price when selling items.

  • Throw away any offers that require you to pay for a prize and/or gift.

  • Monitor your accounts regularly and report any suspicious activity or suspected fraud on your Drake Bank accounts to our team, (651) 224-5000.

Drake Bank Security & Fraud Prevention

Identifying Information

  • When you call the Bank, our team will ask for your personal identifying information to confirm it is you on the phone.

  • Drake Bank will never call and ask for your account information.

  • Our team will never request personal information via unsecured email. If we need sensitive information via email, we will ask for it via our secure email system.

Online Security

  • Drake Bank requires a unique username and password for access to online and mobile banking. Passwords are required to be changed regularly to keep your accounts secure.

  • Drake Bank offers Bill Pay and eStatements to help limit paper trails.

  • Online Banking is only accessible through browsers that meet our security standards.

Bank Transactions

  • Drake Bank monitors for potential fraudulent debit card activity based on geographic location, purchasing habits, and typical spending.

  • If we see a transaction that is not part of your normal activity, you may receive a text message and/or phone call to verify the transaction. We will never ask you for your account number.

Reporting Suspected Fraud

1. Contact Drake Bank

Immediately report any fraudulent activity on your Drake Bank accounts by calling our team, (651) 224-5000.

2. Contact Major Credit Card Bureaus

Call one of the three main credit bureaus and request a short- or long-term Fraud Alert be placed on your credit file, which requires creditors to verify your identity before opening any new accounts in your name or changing existing accounts. You only need to call one bureau; they will notify the other bureaus.

3. Obtain A Free Credit Report

Credit bureaus must provide victims of identity theft with a free copy of their credit report. You can request one from each bureau as the information can differ. Review the reports carefully to determine if any fraudulent accounts have been opened. If so, notify the credit bureau and the company of the account to report the fraud.

4. Contact Other Creditors

Contact other creditors (i.e., credit card companies, banks, lenders, etc.) and notify them of potential fraud. Close accounts that have been breached and reopen them with new account numbers and passwords.

5. File a Report with Local Police

Contact the local police department if you suspect that your personal information was stolen.

6. Contact Other Agencies, As Needed

Notify any other agencies involved with your claim (i.e., Postal Inspection Service, Social Security Fraud Hotline, Retail Stores for Store-Specific Credit Cards, etc.)

7. Continue Monitoring Accounts

Monitor your accounts regularly as identity theft takes time to resolve completely.

For more information on identity theft, visit the Federal Trade Commission website or call (877) 382-4357, or to file an identity theft report, call (877) 438-4338.

Placing a Credit Freeze

Credit Freeze

A credit freeze can provide peace of mind if you are concerned about identity theft by restricting access to your credit report and making it more difficult for identity thieves to open new accounts in your name.

A credit freeze does not image your credit score and is a safe way to protect your identity. It does not affect opening a new account, applying for a job, renting an apartment, or buying insurance. However, you will need to lift the freeze to proceed with any of the previously listed actions.

Placing a Credit Freeze

To place a credit freeze, contact each of the credit bureaus. You will need to provide your name, address, date of birth, social security number, and other personal information to freeze your credit successfully. Once the credit freeze has been placed, you will receive a confirmation including a PIN or password that you will need to remove the credit freeze.

Removing a Credit Freeze

You can lift your credit freeze temporarily or permanently; the length and cost to remove a credit freeze vary by state. Credit bureaus are required to lift a freeze within three business days of receiving your request.

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1 Drake Bank does not charge a fee for Fraud Text Alerts; however, standard text and data rates from your mobile carrier may apply. Messaging frequency depends on account activity. Text messages will come from 37268 or 20733.

2 Fraud Text Alerts is available to Drake Bank consumer and business debit cardholders who have mobile phone service through a participating carrier and have an active mobile phone number on file with Drake Bank. Participating mobile carriers are subject to change without notice. By providing your mobile phone number, you agree to enroll in Fraud Text Alerts and authorize text message notifications of suspected fraudulent activity.

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