Help participants lock out fraud
One of the fastest growing areas of crime is fraudulent attempts to obtain retirement distributions. Within the financial industry, there are 10 new fraud attempts every second.1 And in 2018, fraud cost individuals nearly $1.48 billion.2
Nationwide® employs state of the art technology, people and processes to catch and combat fraud, but you and your participants can play an important role in protecting their assets
Introduce your participants to Nationwide Account Lock
When participants request this extra level of account security, they proactively “lock” their account from distributions until they’re ready to take withdrawals. This service is available at no extra charge and with it, they get:
Enhanced security that's under their control
Options to lock and unlock when they’re ready
Notifications every time a distribution is requested (so they can check on their other financial accounts too)
To learn more about Nationwide Account Lock and how you can help promote it to your participants, contact your Nationwide representative.
Together, we can help participants better defend their retirement account and assets.
1 “Life, Annuities and Retirement Services: New Targets for Account Takeover,” LexisNexis ThreatMetrix (March 2018).
2 “Consumer Sentinel Network Data Book 2018,” Federal Trade Commission (February 28, 2019).