Financial Insights

Video Transcript

As the leader of Old National Bancorp's Risk Management Department, I focus on helping the bank and our clients mitigate and manage risk.

I'd like to take just a few moments to share with you some personal steps that I have taken to reduce my family's risk of fraud exposure.

My first course of action was to add a security phrase to my family's bank accounts. This is essentially a verbal password. Now when anyone calls to access these accounts the client service department will ask for this security phrase in addition to more traditional questions. Old National customers can request and add a security phrase by visiting our banking center or calling 1-800-731-2265.

By freezing account access to our credit reports for three major credit agencies, Equifax, Experien & TransUnion and a fourth credit agency called Innovis, my family and I are ensuring that no one can gain access to our credit reports.

Based on the state you live in there may be a minimal charge for freezing and unfreezing your credit. It's a very simple thing to do and it can be completed at each of the credit agency websites.

Working in the risk management department, I tend to watch my account activity but since the Equifax breach I have been doing so more diligently.

Additionally, we utilize the mobile alerts offered through Old National's online banking as well as the ON Guard Visa Purchase Alert app.

With these alerts in place we know quickly if there is account activity that we didn't initiate or authorize. Anyone can do this for free at annualcreditreport.com. Rather than checking all three reports at once, I spread these monitorings throughout the year checking a different credit report each time.

These actions are what I consider to be the most critical for reducing the risk of fraud and identity theft. If you would like additional steps and links to the credit agency sites please read my article on the website.

While on our website please visit the Money Safety for Seniors page where you will find valuable information, how to detect, protect against and report financial exploitation of seniors.

Learn more at oldnational.com/fraud.