Detection and recovery services protects consumers, financial institutions against losses

Deluxe Financial Services recently received an endorsement from the Kansas Bankers Association (KBA) for its advanced suite of identity theft detection and recovery services, Deluxe ID TheftBlock(R) 2.0 -- the only such product to receive the KBA's official support. Developed to address the growing identity theft problem that now affects seven to 10 million people annually(1), the services help banks and their account holders prevent costly checking and credit card account losses.

The KBA "stamp of approval" provides its members with valuable peace of mind knowing a trusted organization has done its homework by researching and evaluating services like Deluxe ID TheftBlock 2.0 against others in the marketplace. The KBA also hopes this endorsement will prompt banks to take action and more actively address the identity theft issue, which has now reached epidemic proportions.

"The Association recognizes the growing importance of providing KBA members with first-class services that address identity theft concerns for their account holders," said Chuck Stones, president, Kansas Bankers Association. "The Deluxe ID TheftBlock 2.0 endorsement builds on a 15-year relationship with Deluxe and acknowledges the trust we have in its services to attract, engage and retain our member banks' customers."

Deluxe Addresses Consumer Need

Research indicates that identity theft losses averaged $6,383 per victim(2) in 2006. Consumers shouldered seven percent of the financial burden(3), leaving businesses -- especially financial institutions and credit issuers -- to cover the remaining 93 percent. Deluxe ID TheftBlock 2.0 was developed to help financial institution customers mitigate the significant costs associated with identity theft, which is currently the fastest-growing white-collar crime in the United States according to the Federal Trade Commission.

"Deluxe is constantly looking for new ways to help KBA member banks offer relevant products and services to their account holders. Deluxe ID TheftBlock 2.0 responds to a need for financial institutions to address customer concerns about identity theft," said Luann Widener, president, Deluxe Financial Services. "The service helps financial institutions build consumer trust and strengthen relationships, while protecting against losses and providing revenue."

Deluxe ID TheftBlock 2.0

Financial institutions can offer Deluxe ID TheftBlock 2.0 Basic to their checking account holders at no charge. This ensures that if a financial institution's checking account holder becomes a victim of identity theft, they will receive the assistance they need to recover. The suite of services provides identity theft recovery solutions such as professional credit report analysis; follow-up monitoring of credit reports after fraud is identified; notification of subsequent changes to credit reports; expense reimbursement for qualified expenses resulting from identity theft; and a fraud prevention e-newsletter available to the financial institution account holder.

An advanced level of services, Deluxe ID TheftBlock 2.0 Plus, is an expanded suite of theft detection and recovery solution services, providing proactive monitoring of accounts for fraud, including ongoing credit report monitoring for enrolled account holders and a credit report review membership kit upon enrollment.

About Deluxe Corporation

Deluxe Corporation, through its industry-leading businesses and brands, helps financial institutions and small businesses better manage, promote, and grow their businesses.

About Kansas Bankers Association

Established in 1887 as a statewide banking association, KBA is the leading advocate for the banking industry in Kansas, working to help member banks maximize profitability, increase accountability and achieve their business objectives.

  (1) FTC, Gartner, Harris Interactive, Bureau of Statistics, The Council of
      Better Business Bureaus and Javelin Strategy and Research, 2006.

  (2) The Council of Better Business Bureaus and Javelin Strategy and
      Research, Identity Fraud Survey Report, 2006.

  (3) Identity Fraud Survey Report, 2006.

Source: Deluxe Corporation

Web site:
http://www.deluxe.com/
http://www.deluxe-idtheftblock.com/