While the digitization of the banking industry has added convenience to our financial lives, it also makes us vulnerable to certain risks. Thus, to help you out, we’ve listed certain simple tips that you can put into practice to avoid getting targeted by scammers.
- Use Secure ATMs: If you need to use an ATM, make sure to only use that located within a bank or in a secure location that has video surveillance since scammers may install external card readers and hidden cameras that can compromise the security of your bank account.
- Avoid Revealing Sensitive Information: Make sure to not give out any details about your bank account, credit cards, or social security number if someone calls you asking for such details.
- Review Your Statements: It is important that you review your bank and credit card statements regularly. If you notice any discrepancies like unauthorized transactions on your statement, make sure to immediately contact the bank and dispute these charges.
- Check Your Credit Report: The details on your credit report determine your credit score. Given that you can access your credit report for free from each credit bureau once a year, ensure that you take advantage of this. If you notice anything inaccurate in your credit report, you should report it to the credit bureau immediately.
- Report Losses Immediately: If you happen to lose your credit card, debit card, checkbook, or driver’s license, contact your bank or credit union to report the loss.
- Only Make Online Transactions On Secure Websites: If you are in the habit of shopping online, ensure that you check how reputable the company is. You should only make online payments through the website if it has security enabled, which the web address will indicate.
- Don’t Leave Financial Information Unattended: Ensure that you don’t leave physical copies of your bank account statements, credit card statements, and receipts, among other things unattended. If you completed reviewing these documents, you should shred it up before disposing of it.
When it comes to your finances, you can never be too careful. Whether you are going to the bank, ATM, or reviewing your financial information at home, ensure you do what’s necessary to protect yourself and your finances.
