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Fraud Prevention

Keep your accounts secure by keeping your information secure.

Your online security is always a priority to CIT Bank.

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.

CIT Bank will never ask you via phone or email for your account number, PIN number or username. If you receive an email or phone call from CIT Bank requesting this information, do not provide it and call us directly at 855-462-2652.

Information and insights on how to protect yourself from fraud

Wire Transfer Fraud Warning

IMPORTANT NOTICE: Never trust wiring instructions sent via email. 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.

Cyber criminals hack email accounts and send emails with fake wiring instructions. These emails are convincing and sophisticated. Always independently confirm the validity of the wire request in person or via a telephone call to a trusted and verified phone number. Never wire money without double-checking that the wiring instructions are correct.

Identity theft

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.


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. 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.


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.

Personal scams

Personal scams related to online dating, romances, friendship, and strangers in need. Often people will connect with targets at online dating/friendship sites and ultimately will ask you to open an account in your name so that they can have money deposited into it. They may also ask you to use an existing account or for your online banking credentials or other personal information. They will frequently have a story relating to some sort of financial difficulty justifying why they can’t use their own account. The most difficult aspect of this fraud is the personal impact, because victims believe that they are close friends, sometimes even fiancés. How to protect yourself from personal scams: 

  • NEVER give your personal information or account information to an individual you’ve met online.
  • NEVER initiate transfers to or from an account that you do not own.
  • NEVER accept deposits on behalf of someone else.
  • ALWAYS be suspicious of anyone who prefers to communicate via instant messaging (IM) or email as opposed to the site on which you met.
  • ALWAYS be extra vigilant if anyone tries to discuss his or her finances with you.

Job scams

Job scams related to work-at-home opportunities and fraudulent mystery shopping opportunities. Emails for job opportunities promise a paycheck (paper check or direct deposit) and extra money to purchase supplies. The “employer” will ask you to send a portion of the money to another account to cover one-time costs. Mystery shopping opportunities provide your first paycheck and the extra money you will need for your “first assignment,” which is to evaluate the office of a well-known money transfer service. You are asked to wire money to another bank account and evaluate the office’s customer service. How to protect yourself:

  1. NEVER accept an employment offer that involves processing checks, ACHs, or electronic payments through your personal account or an account in your name.
  2. ALWAYS verify that the mystery shopping company is in the Mystery Shopping Providers Database (http://www.mysteryshop.org/).

Award scams

Award scams often in the form of lotteries, sweepstakes, or government grants. Fraudsters provide a check or ask you to provide your routing and account number. You are then asked to send a portion of the award or grant back to pay taxes and fees. How to recognize award scams: 

  • Legitimate lotteries pay taxes directly to the government. Winners do not reimburse some of their proceeds for taxes.
  • It is against United States law to play foreign lotteries by mail or telephone.
  • United States government agencies do not award free grants that were not applied for by the recipient.
  • DO NOT give your account information to companies with whom you have not initiated business.
  • DO NOT deposit a check you weren’t expecting to receive.

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.


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.


How to Protect Yourself from Scams

Phishing

The term "phishing," as in fishing for confidential information, refers to a scam that encompasses fraudulently obtaining and using an individual's personal or financial information. This is how it works:

  • A consumer receives an e-mail that appears to originate from a financial institution, government agency, or other well-known/reputable entity. 
  • The message describes an urgent reason you must "verify" or "re-submit" personal or confidential information by clicking on a link embedded in the message.
  • The provided link appears to be the website of the financial institution, government agency or other well-known/reputable entity, but in "phishing" scams, the Web site belongs to the fraudster/scammer.
    • Once inside the fraudulent website, the consumer may be asked to provide Social Security numbers, account numbers, passwords or other information used to identify the consumer, such as the maiden name of the consumer's mother or the consumer's place of birth.
    • When the consumer provides the information, those perpetrating the fraud can begin to access consumer accounts or assume the person's identity.

It is important to note that CIT Bank will never ask for personal or confidential information in this manner. CIT Bank communications will only use links to the official CIT Bank web page located at https://cit.com/cit-bank.

Anti-malware software can identify and warn you when accessing a suspicious website. You can also look for the following items to determine if a site is valid or not. The CIT Bank site will include the following:

  • A lock icon in the address bar;
  • A URL that begins with https://; and
  • A URL like https://cit.com/citbank

If you click on a link that takes you to a website whose address begins with something else, or which includes apparent abbreviations of our bank name, it’s not a genuine CIT Bank site – even if it looks familiar. You should refrain from using any links or information found at such fraudulent sites.

If you suspect an e-mail or website is fraudulent, please report this information to CIT Bank, using this number 855-462-2652. If you suspect that you have been a victim of identity theft, perhaps because you submitted personal information in response to a suspicious, unsolicited e-mail or you see unauthorized charges on your credit card, immediately contact CIT Bank and, if necessary, close existing accounts and open new ones. Also contact the police and request a copy of any police report or case number for later reference. In addition, 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.

Voice Phishing Phone Calls

You will never receive a call from CIT Bank asking you to provide your account information. Imposters placing these calls are engaging in a practice known as "vishing" or "voice phishing," through which they attempt to obtain your account and security information.

If you receive a call like the one described above, or any other suspicious phone call inquiring about your account(s) with CIT Bank, do not provide your account or security information. If you have any questions, please contact our Customer Call Center toll-free at 855-462-2652 to report such activities.

Text SMS

Text (SMS) scams “smishing” is a phishing attempt using text messages with the goal of obtaining your bank account number and/or other personal/sensitive information. CIT Bank customers can sign up to receive SMS text alerts on their accounts. If you’ve signed up to receive SMS text alerts on your account(s) and receive a text message on your mobile device that you were not expecting or were uncertain that it came from CIT Bank, please delete it immediately and DO NOT call the telephone number or open any links in the message. Use known phone numbers ( 855-462-2652 ). This type of message may be an attempt to obtain your bank account number fraudulently.

Email

If you receive an e-mail claiming that your access to "Online Services" with CIT Bank has been suspended, know that it is false and was NOT sent by CIT Bank.

If you receive an email claiming to be from CIT Bank, telling you that your access has (or will be) suspended, please DO NOT open it or click any of the links inside. Promptly delete the e-mail or mark it as "Spam."

Remember, we will never send you an e-mail requesting sensitive account information.

If you believe that you've been the victim of online fraud or identity theft, please notify us by either calling toll-free at 855-462-2652 Monday through Friday, 8 a.m. to 9 p.m., Saturday, 9 a.m. to 5 p.m. and Sunday, 11 a.m. to 4 p.m. or e-mail us at privacyemail@cit.com. Please include your name, e-mail address, telephone number and a detailed description.

Caller ID Spoofing

There are companies engaging in telemarketing activities that will spoof (or manipulate) the caller ID to make it appear that the call is coming from CIT Bank. These companies are performing this illegal activity for purposes of enticing the called party to pick up the phone, after which they proceed to pitch the service they are offering. We encourage any customer receiving this type of call or any other suspicious call in which the caller claims to be a representative of CIT Bank to ask for the name of the caller and then contact our Call Center toll-free at 855-462-2652.

If you receive a suspicious call from someone claiming to be from CIT Bank, please be vigilant and follow the guidelines below:

  1. Do NOT provide any personal information to these callers.
  2. Contact CIT Bank toll-free at 855-462-2652.


Computer Bugs and Viruses

As new computer bugs and viruses are created and distributed, we want you to know what we're doing to protect your information.

What are bugs and viruses?

A software bug is a flaw in the computer code that creates errors in the application or program, which can make your computer vulnerable or have unexpected results. A computer virus is malicious code that can copy itself, and infect your computer and the way it operates. It can have unexpected or damaging effects.

The best thing to do...

  • Be cautious when downloading files from the internet, opening attachments or clicking on links. Use a recognized antivirus software or comprehensive security software.
  • Update your system and mobile devices with the latest operating system versions and patches.
  • Create different passwords for different websites, and make those passwords appropriately complex, using upper- and lower-case letters, numbers and, if allowed, symbols.
  • Change your password regularly and enable your Online Banking account alerts. Those, along with other online account tools, will add another layer of coverage to your account.


Bank Account Fraud 10 Secure Mobile Banking Tip

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.

Personal scams

Personal scams related to online dating, romances, friendship, and strangers in need. Often people will connect with targets at online dating/friendship sites and ultimately will ask you to open an account in your name so that they can have money deposited into it. They may also ask you to use an existing account or for your online banking credentials or other personal information. They will frequently have a story relating to some sort of financial difficulty justifying why they can’t use their own account. The most difficult aspect of this fraud is the personal impact, because victims believe that they are close friends, sometimes even fiancés. How to protect yourself from personal scams: 

  • NEVER give your personal information or account information to an individual you’ve met online.
  • NEVER initiate transfers to or from an account that you do not own.
  • NEVER accept deposits on behalf of someone else.
  • ALWAYS be suspicious of anyone who prefers to communicate via instant messaging (IM) or email as opposed to the site on which you met.
  • ALWAYS be extra vigilant if anyone tries to discuss his or her finances with you.

Job scams

Job scams related to work-at-home opportunities and fraudulent mystery shopping opportunities. Emails for job opportunities promise a paycheck (paper check or direct deposit) and extra money to purchase supplies. The “employer” will ask you to send a portion of the money to another account to cover one-time costs. Mystery shopping opportunities provide your first paycheck and the extra money you will need for your “first assignment,” which is to evaluate the office of a well-known money transfer service. You are asked to wire money to another bank account and evaluate the office’s customer service. How to protect yourself:

  1. NEVER accept an employment offer that involves processing checks, ACHs, or electronic payments through your personal account or an account in your name.
  2. ALWAYS verify that the mystery shopping company is in the Mystery Shopping Providers Database (http://www.mysteryshop.org/).

Award scams

Award scams often in the form of lotteries, sweepstakes, or government grants. Fraudsters provide a check or ask you to provide your routing and account number. You are then asked to send a portion of the award or grant back to pay taxes and fees. How to recognize award scams: 

  • Legitimate lotteries pay taxes directly to the government. Winners do not reimburse some of their proceeds for taxes.
  • It is against United States law to play foreign lotteries by mail or telephone.
  • United States government agencies do not award free grants that were not applied for by the recipient.
  • DO NOT give your account information to companies with whom you have not initiated business.
  • DO NOT deposit a check you weren’t expecting to receive.

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.