Veteran says financial services company USAA failed to warn her of ID theft
Paul Woolverton reports:
Retired Army Maj. Veronica Carter is furious with the USAA.
She says the financial services company failed to warn her when an identity thief or thieves called three times over the past month to try to persuade a customer service representative to withdraw money from her account.
On Oct. 6, someone made the third call, then a fourth one later that day, Carter said.
The thief on the fourth call knew Carter’s social security number and the make and model of her car, she said.
That was enough information to talk a customer service representative into writing a check from Carter’s account for $2,900 and sending it via FedEx to a woman in Anne Arundel County, Maryland.
Read more on FayObserver.com. I suspect most consumers might agree with Carter. What do you think of USAA’s explanation as to why they don’t call consumers to alert them or question them – that it would be “ineffective” and lead to consumers ignoring alerts? Is their anti-fraud executive’s alternative advice satisfactory:
He would like all of his customers to use a tougher security protocol.
For example, USAA has systems in which customers use verification codes – generated on the fly on their cell phones or sent via text message to their phones or by email – to help confirm that the company is not talking to an identity thief.
The company’s cell phone apps can use voice recognition, facial recognition and fingerprint recognition to confirm the customer’s identity, Swenson said.
Okay, but how many senior citizens may not have cell phones or email? Should consumers have an option to instruct USAA, “Notify me by phone of any failed attempt to access my account?”