The Emergence of Customer Care Programs

Banks tend to focus, and appropriately so, on the dollar losses associated with fraud. But heightened attention has been paid this year to what might be considered the "collateral damage" Ñ the very real loss of customers as a result of fraudulent activity or attempts.

This risk is addressed head-on by Citigroup Inc., whose brand tends to rival eBay for the dubious distinction of being the most frequently "hijacked," as tracked by the Anti-Phishing Working Group. The goal of Citi Identity Theft Solutions, a multimillion-dollar, multimedia program which includes a 300-member staff providing assistance on identity recovery, is to position the bank "as a leader in the protection it offers," explained Wayne Malone, director, deposits and distribution, Citibanking North America, at an NCR Corp. conference this summer.

Whether in customer meetings, in statement stuffers or on their Web sites, other financial institutions are stepping up with proactive communications to consumers. For a dynamic guide to best practices, visit BAI's Fraud And Identity Theft Center (www.bai.org/fraud). The site expands on coverage in Banking Strategies' series on fraud and will be aggregating links to industry sites that address fraud, including those developed for the customer perspective.