As everybody continues to recover from Thanksgiving and dutifully lugs their cold turkey leftover sandwiches to work this week, the holiday shopping season is officially in full swing! While we’ll discuss holiday spending and what Arbor Financial can do to help you out there in a post later this week, right now, we wanted to focus on the relatively new tradition of Cyber Monday.
The term itself dates back to 2005, when it appeared in a press release about holiday spending, and is credited to Ellen Davis, who was the senior director of strategic communications for the National Retail Federation, and was writing about how some retailers were seeing a spike in online sales the Monday after Thanksgiving.
“We thought about calling it ‘Black Monday,’ ” she told the Los Angeles Times in 2007, “but that’s also the term for the big stock market crash, so we didn’t want to go there. We considered ‘Blue Monday’ — because of the color of hyperlinks — but that had the connotation of being sad or depressed.”
Regardless of the term’s origin, or the conflict as to whether or not it’s the biggest online shopping day of the year (most analysis says it isn’t), reports from Adobe Digital Insights indicate that consumers spent $3.45 billion on Cyber Monday in 2016. And with all that online spending comes a thought that has to be at the forefront of everyone’s minds—cybersecurity.
According to the Insurance Information Institute, Michigan saw the highest number of identity theft complaints per capita of any state in the country in 2016.
Source: FTC Consumer Sentinel Network
With that in mind, Arbor Financial is proud to offer access to IDProtect® and total identity monitoring for a low monthly fee of $2 for members and their families.
That $2 per month gets members and their families total identity monitoring, which continually monitors over 1,000 databases, including credit, social security, public records, real estate property, and more, to make sure that someone isn’t opening accounts or doing something in your name that you might not know about. If your risk is rated ‘medium’ or ‘high,’ you will be notified and can take action immediately. IDProtect® also monitors your credit reports for any key changes, and you can request a new report every 90 days.
In addition, members can utilize a laundry list of features to help after any theft takes place, including:
- Access to a dedicated fraud specialist assigned to manage your case who will work with you until your credit and identity are restored
- An experienced recovery professional to walk you through the entire process
- Up to $10,000 of Identity Fraud Expense Reimbursement Coverage** for expenses associated with restoring your identity
- An online identity theft news center and valuable phone and web resources.
We’ve talked in the past about how to protect yourself online, but we just wanted to let you know that when you’re finding that great deal today or any day that Arbor Financial has the tools to help protect you from cyber-criminals—or to get back to normal if they do strike.
Happy shopping, everyone!