5 Tips for Protecting Yourself from Fraud

Fraud can result in financial losses and legal issues.

Unfortunately, it’s quite common. The Federal Trade Commission reported 2.6 million cases of fraud in 2023 alone.

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Common types of fraud include:

Identity Theft
Phishing
Account Takeover
Credit Card Fraud
Lottery Scams
Grandparent Scams
Romance Scams

Fraud and scams can affect anyone. Those at particular risk include the elderly, teens, and victims of previous fraud. You may also be subject to fraudulent attempts if you’re in debt, lack financial literacy, or shop online frequently.

Take these preventative measures to lower risk:

Know your risk factors

Educate yourself about types of fraud and personal information that may be at risk.

Implement Multi-Factor Authentication

Safeguard your email and bank accounts by enabling multi-factor authentication software. That may require a username, password, and confirmation emails or texts.

Don’t Open Suspicious Emails

Some hackers send emails that prompt you to click a link so they can access your network. Don’t open emails from unknown senders. Mark them as spam and delete them.

Monitor Financial Transactions

Set up bank account alerts and check your account transactions daily to spot suspicious activity.

Use Fraud Detection Software

There are programs to monitor, identify, and prevent fraudulent activity. If you install fraud prevention software on your phone or computer, update your program regularly to optimize your security.

Learn more about fraud and how to prevent it with our online resources.