Protect Your HELOC

What’s Happening?

The financial services industry has seen an increase in fraudulent withdrawals from accounts with Home Equity Lines of Credit (HELOCs). Because HELOCs often have high credit limits and easy access to funds, losses from fraud can be significant.

In many cases, fraudsters gain unauthorized access using compromised personal information and withdraw funds before the rightful accountholder notices suspicious activity.

Important: Fraud has occurred both at individual financial institutions and through shared branch withdrawals.

Why Are HELOCs Targeted?

High Available Credit Limits

HELOCs are often issued at high loan‑to‑value ratios, giving account holders flexibility and unfortunately, making them attractive targets for fraudsters.

Easy Access to Funds

HELOC funds may be accessible in branches, shared branches, online banking, and sometimes ATMs/ITMs, which can be exploited if access is compromised.

Publicly Available Records

Because HELOCs are secured by property, liens are filed with public records. Bad actors can use this information to identify potential targets.

Compromised Personal Information

Major data breaches have exposed billions of records. Fraudsters may already have enough information to attempt access without contacting you first.

How You Can Protect Your HELOC

• Review your HELOC activity regularly through online banking or statements
• Enable account alerts for withdrawals and balance changes
• Protect your personal information and be cautious of unsolicited requests
• Notify us right away if you notice anything unusual
• Ask about additional security options available for your account
   

What We’re Doing to Help

Your security is a top priority. We continually monitor for suspicious activity, work with industry partners to identify emerging threats, and review our controls to help protect your accounts.

As fraud tactics evolve, we may introduce additional safeguards to further protect HELOC access.