Information Lockdown

In the digital age that we live in, there have been advances made in technologies that make our lives simpler, but we must be aware that these technologies have their drawbacks.  Let's take a moment to think about cell phones, internet, e-mail, and many other electronic devices that we have.  Where would we be today if these did not exist?  Along with the increased convenience that these technologies bring, comes the risk that the data being transmitted or shared can fall into the wrong hands.  Many times data can be compromised via hidden software from a downloadable computer file or bogus e-mail requesting your personal data, more specifically, your financial institution information.

SouthPoint is committed to keeping our member's information safe and secure.  With the above mentioned conveniences that we have come accustomed to, SouthPoint has changed the way in which we deliver our products and services.  Our online banking, call center, and telephone banking systems allow members to access their account from the friendly confines of their home, reducing the face to face interaction we have been accustomed to over the years.  This increases the opportunity for identity theft attacks, many of which happen routinely to members and their financial institutions across the country.

Fraudsters are becoming more cunning in the ways they carry out their crimes.  We are always looking for new ways to verify the identity of our members when they call in or make a request via chat, e-mail or fax.  We ask specific verification questions to identify who we are speaking to.  In an effort to further increase the identification process, SouthPoint may ask some out of wallet or off statement questions, answers to these questions may not be found on your statement or would not be able to be found in an average person's wallet.  These questions are used to stop an attempt to perform transactions on an account in which a fraudster may have stolen a member's personal information.  The information asked for by the out of wallet questions is data that is not considered public record, and would be specific to each member.

Identity theft is a real concern.  As a financial institution, we are on the front line in the battle against fraud.  The continued measures that SouthPoint takes to identify our members are another way of keeping their information safe and secure.  Who knows what the digital age will bring us in the next 5, 10 or 20 years, but rest assured that SouthPoint will be at the forefront of keeping our member's account information protected.  

Brian Goblirsch, Finance Specialist