Keep your accounts secure, by keeping your information secure.


Fraud can occur in a variety of ways, so it's important to understand what fraud is, how it works, and how to protect yourself and your accounts. Please read through the information below, then check out our Fraud Prevention Guide.

What is Identity Theft?What is Bank Account Fraud?What to do if you think you're a victim of Identity Theft.What to do if you think you're a victim of Bank Account Fraud.

Identity Theft

Identity Theft occurs when someone uses your personal information, such as your name, Social Security number, date of birth, driver's license number, online banking credentials (User ID and password), or account numbers, without your permission to open accounts, access your existing accounts, or make major purchases in your name.

  • Common approaches Criminals will go through trash to obtain information on discarded mail or use electronic approaches. Phishing (fraudulent email), vishing (fraudulent phone call), smishing (fraudulent text) and malware (software that can disable your computer and access personal information) are ways that fraudsters try to deceive you into revealing personal, financial, or account information.
  • Tips Make sure you have the latest security software installed on your computer and only download software and programs from legitimate sources. Create strong passwords and update them every 90 days. Do not write them down in case they are accidentally discarded. Avoid phishing, vishing, and smishing by using caution when asked by phone, email, or text to update your account information. Do not provide personal information when someone contacts you. Instead contact the company directly using verified contact information.
Download our complete Fraud Prevention Guide for more information.

Back to top

Bank Account Fraud

Bank Account Fraud occurs when a fraudulent deposit, in the form of a check or ACH transfer, is made into your bank account and subsequently returned by the paying bank. Fraudsters may ask you to open a new account or use an existing account. Once the deposit is available, they will want to make transfers out, sometimes offering to let you keep part of the deposit.

  • Common approaches Criminals will use scams involving employment, dating online, or selling items to commit deposit fraud. Download our complete Fraud Prevention Guide for more information about ways to identify deposit fraud scams.
  • Tips Never initiate transfers to or from an account that you do not own, accept deposits on behalf of someone else, or allow someone to overpay you on shopping or auction sites. Never accept an employment offer that involves processing checks, ACHs, or electronic payments through your personal account or an account in your name.
Download our complete Fraud Prevention Guide for more information.

Back to top

What to do if you think you're a victim of Identity Theft.

  1. Contact the CIT Bank Fraud Prevention Department

    We will help you determine next steps based on your individual situation. It may be necessary to take additional steps and not just the ones listed below.

  2. Contact the credit reporting agencies to place a fraud alert on your profile and to order a report. You only need to contact one credit reporting bureau. The credit bureau you call is required to contact the other two. When you place a fraud alert on your credit profile, any new credit requests will receive careful review to ensure the applicant is you.
  3. Close any accounts in your name that were opened fraudulently.
     
  4. Contact the Social Security Administration Fraud Hotline. 1-800-269-0271.
     
  5. File a police report with your local law enforcement agency.
     
  6. Report identity theft to the Federal Trade Commission so that law enforcement agencies across the country can use the information to help with their investigations. Click here or call 1-877-IDTHEFT (877-438-4338).
     
  7. Contact your local post office if you believe your mail was stolen or redirected. www.usps.com
     
  8. Contact your local Department of Motor Vehicles if you believe someone is trying to get a driver's license or identification card using your name and information.
Download our complete Fraud Prevention Guide for more information.

Back to top

What to do if you think you're a victim of Bank Account Fraud.

  1. Contact the CIT Bank Fraud Prevention Department

    We will help you determine next steps based on your individual situation. It may be necessary to take additional steps and not just the ones listed below.

  2. File a police report with your local law enforcement agency.
     
  3. File a complaint regarding Internet-related fraud with the Internet Crime Complaint Center. www.ic3.gov
     
  4. Report scams to your state Attorney General.
     
  5. Report bank account fraud to the Federal Trade Commission so that law enforcement agencies across the country can use the information to help with their investigations. Click here or call 1-877-382-4357
Download our complete Fraud Prevention Guide for more information.

Back to top

Back to fraud and security
Selected products ()
Product
APY**
Minimum balances
Available as IRA
Available as Custodial
APY**
Minimum balances
Available as IRA
Available as Custodial