In today’s increasingly digital world, fraud has become more sophisticated, leaving individuals vulnerable to financial loss and identity theft. Whether through phishing scams, compromised accounts, or fraudulent transactions, the risks are ever-present. Fortunately, there are proactive steps you can take to safeguard your financial information and reduce the likelihood of falling victim to fraud. In this article, we’ll explore essential strategies that will help protect your bank accounts, personal details, and peace of mind from fraudsters. These strategies are things you can do in your everyday life to pro-actively protect yourself from the increasing risk of being scammed.
- Regularly Monitor Your Bank Statements
Frequently check your bank statements for any unauthorized transactions. If you spot anything suspicious, report it to your bank immediately to minimize potential losses. While unauthorized fraud is not your fault, it is your responsibility to notify the bank as soon as possible to mitigate loss to yourself. Make sure that the money coming out of your account is something you authorized and be sure to review often!
- Use Credit Over Debit for Online Purchases
Credit cards often offer better fraud protection than debit cards, as you’re not directly accessing your bank funds. If your credit card is frauded your money is still safe and sound in your bank account. The credit card company is out the money and they will work extra hard to recover their own funds. By using credit online, you avoid putting your personal banking info online, and keep your personal funds safe. And as long as you pay it in full every month you don’t even pay interest and could even get some cash rewards!
- Educate Yourself on Phishing Tactics
Stay informed about common phishing techniques and how to recognize them. Scammers often use urgency or fear tactics, like claiming your account has been compromised or that you owe money, to pressure you into acting quickly. I cant stress this enough, scammers are evolving every single day, and while you may think you are up to date on the most common scam, you aren’t. Always stay in the loop, only trust people you know personally, and if you have any questions, reach out to your local bankers. Their fraud departments are always keeping them in the loop when it comes to the newest scams.
- Don’t Share Personal Information Over the Phone
Scammers may call pretending to be from your bank or a legitimate organization. Never provide personal information, passwords, or account details over the phone unless you’ve initiated the call and verified the identity of the person on the other end. Your bank will NEVER ask for your PIN to your debit card, they will NEVER ask for your online banking password. NEVER provide these to ANYONE you do not know personally or trust fully. These passwords and PINs are for your eyes only.
Staying in the know, being extra cautious, and protecting your personal info are the only ways that you can be safe in this digital world. Make sure you are doing everything you can to keep your hard earned money safe and in your wallet!
Vincent A Pircio
Branch Manager II
Rockland Trust
2995 Cranberry Highway
East Wareham, MA 02538
Phone (508) 295-6900
Fax (508) 295-7178
Vincent.Pircio@RocklandTrust.com
