Plenty of banks are now closing or are being bought out. The most important question may be that which relates to your personal information. Is your identity safe?
The answer for the most part is: YES, but…
There may be banking institutions that may contribute to the rising statistics of identity theft. These financial establishments may put you at risk during their closing or merging process. As most of the information about customers is stored on computer servers it is viable that this same data may leak out due to negligence or employee retribution.
With the economy the way it is, people are struggling to provide certain necessities for their families. Imagine if you were to work for one of these failing financial institutions and then find out without suitable prior notice that your job is no more. You are fired, let go off, and without financial means. Certain employees may feel angry, opportunistic, or maybe both. With this mix of emotions their priorities and law-abiding stature may change. These same people who may have never thought of running a red light at an intersection are not considering to be white collar criminals.
Surely, the information is protected and there may be levels of protection that are present within a bank. However, with mass confusion and resentment the opportunities for identity theft which were never explored may in the end be executed.
In reality the information of customers and clients may never be safe. It is a fact that not all people can be trusted and this statement applies for computers also. It isn’t my objective to have you resent the human race, but it is my contention that an “eye opening” is overdue.
In reality there is not much you can do with regards to identity theft and bank closings. Even if you take out the money from your accounts, there is a trail of personal data that stays in the bank’s system. My advice is to hope and be positive. Chances of something like that happening are very small, but then who really knows?