Technology has helped make the world more accessible than ever before. Unfortunately, it’s also helped fraudsters find new, inventive ways to scam people. Here are a few things you can do today to secure your financial information from potential fraud.
It’s essential to stay connected to all your financial accounts. Setting up alerts using Home Banking, for example, can help you prevent fraud.
Account alerts can help you stay updated if there is any suspicious activity on all your accounts. You can also set spending limits on your purchases, and you will be alerted to anything that is over that amount.
These alerts can be sent via text message or email, so make sure your contact information is updated and accurate.
Although free Wi-Fi is great when you’re out running errands, it can also be a tool for potential fraudsters. Hackers can intercept your online activities when you are using public Wi-Fi and visiting websites without secure encryption.
To combat this, avoid making purchases, using online banking, or using other password-protected accounts outside of a trusted, password-protected Wi-Fi connection.
Never give out your personal information, like passwords, social security numbers, or PINs, over the phone, social media, or email. Scammers often run confidence schemes spoofing known brands or financial institutions to get you to give up your data.
Even if the number on your caller ID appears to be legitimate, it’s best to hang up and call back yourself because hackers have the ability to spoof numbers. And if you get any emails or texts urging you to verify account information or provide sensitive information, don’t trust them and report them to the FTC or your bank if you can.
While there are some items in a wallet that you always need, such as your driver’s license, it’s not necessary to take three or more credit cards to the grocery store. The less you take with you, the less you have the potential of them being lost or stolen. Keeping the essentials will help.
Also, never carry your Social Security card or birth certificate around with you. These should be kept in a secure location to protect your private information.
If you suspect you’ve been the victim of fraud or your card is lost or stolen, make sure to report it as soon as possible. You can often do this on the credit card company’s website or mobile app. Also, document any information or evidence so you can report it to the FTC or your local police department.
Cyprus Credit Union’s team is here to help you prevent fraud. Contact us to report any unauthorized and suspicious account activity by calling 801-260-7600 (option 4).