What is ID Protect?
ID Protect is a comprehensive identity protection coverage that provides tools for preventing and detecting identity theft, and correcting it should you ever become a victim. ID Protect is included with all CW Checking accounts.
For 2024, identity theft statistics in the country appear to show another year of ever-increasing cybersecurity issues. This year the FTC received 5.7 million total fraud and identity theft reports, 1.4 million of which were identity theft cases. The median loss of fraud cases for victims is about $500 and total losses are estimated to be $10.2 billion.
The need for identity theft protection is increasing. Keeping yourself and your family protected from fraud and loss is possible with a CW Checking.
How does ID Protect work?
Upon enrollment in ID Protect you will have access to valuable advice on ways to protect yourself. Read educational tips and access valuable online resources related to identity fraud and credit. Identity fraud is often accomplished by stealing personal information and applying for credit items with it. ID Protect helps fight this by keeping you informed on the state of your credit.
What Detection Methods Do We Use?
Credit File Monitoring
Upon registration and activation you will receive daily credit file monitoring and automated alerts of key changes to your Experian, Transunion, and Equifax credit reports. You can elect to receive email or text notifications whenever a change takes place.
3-in-1 Credit Reporting
Following registration and activation of your coverage you can review a NEW 3-in-1 credit report every 90 days or whenever you receive a credit file alert. This will help you monitor any changes in your credit history.
Total Identity Monitoring
We will continuously monitor over 1,000 databases for changes to your credit file or use of your personal information. Simply register and activate your coverage to be protected.
What If Something Is Found?
Should you ever become a victim of identity theft, ID Protect provides you with access to a case manager who provides end-to-end recovery support on your behalf. Working as your advocate, the case manager handles everything from reviewing your credit report with you to notifying relevant agencies and creditors. They will assist you in placing fraud alerts on your credit report and will create your personal case file. Your case manager is there to walk you through the entire recovery process – until your identity and credit are completely restored.
What Correction Devices Do We Deploy?
Debit and Credit Card Registration
By registering for ID Protect you also have the option to register all of your credit, debit, and ATM cards. You can rest easy knowing that in the event that your cards are lost or stolen you can make one toll-free phone call to cancel and request replacement cards – and your liability is limited.
Fully Managed Identity Theft Resolution Service
You are provided access to a dedicated consumer fraud specialist, who will be assigned specifically to your case, and will work with you until your credit and identity are completely restored.
Fraud Expense Reimbursement Coverage
Your expenses related to clearing your name and helping to repair your damaged credit are covered. This reimbursement covers not only attorney fees, long distance calls, and certified mail, but also lost wages as a result of taking time off work to resolve your identity theft case.