5 ways to protect your bank account from thieves

5 ways to protect your bank account from thieves
5 ways to protect your bank account from thieves

Identity thieves are getting smarter and more devious, especially when their victims are affluent. As you may have heard, John Menard, a billionaire hardware chain founder in Wisconsin, was recently targeted by identity thieves.

Back in April, someone called Menard's bank in Eau Claire, Wis., and requested $475,000 be wired to a bank account outside the country. Whoever it was -- he or she hasn't been caught yet -- had Menard's account numbers, passwords and Social Security number. And when the bank called Menard's house to confirm the transaction, the thief was able to intercept the call and give the go-ahead to wire the money.

Unfortunately for the thief, the bank also called Menard's office. Someone there contacted the billionaire, who was in flight at the time and asked that the transaction not go through.