7 Fraud Prevention Tips to Keep You Safe

It happens every day - fraudsters target people and businesses with their deceptive schemes. Preventing fraud begins with awareness and adopting habits for prevention. Though fraud tactics are continually changing, these basic fraud prevention tips are timeless.       

Guard Your Personal Information

Protecting your personal data starts with a few simple but powerful habits. Do not share sensitive information such as passwords, Social Security numbers, or account numbers in emails, texts, or over the phone. Avoid sharing personal information in online forums, especially on social media. Fraudsters can exploit the information that you share.
 

Create Strong Passwords

Develop unique and complex passwords for each account. Incorporate a mix of uppercase and lowercase letters, numbers, and symbols for added security. Enable multi-factor authentication whenever possible for additional protection.
 

Keep Online Transactions Secure

Before entering your payment details on websites, ensure their security by checking for https in the URL and a padlock icon. Avoid financial transactions on public Wi-Fi networks.
 

Regularly Monitor Financial Accounts

Keep a watchful eye on your financial statements and set up alerts to quickly identify unauthorized transactions. Regularly check your credit reports to detect and address discrepancies or suspicious activities promptly.
 

Install Anti-Malware Protection

Equip all devices with reputable anti-virus and anti-malware software to guard against malicious attacks and unauthorized access.
 

Hang Up on Robocalls

Not only are sales robocalls illegal, but they are often used to scam people into buying fake products or services. If you pick up the phone only to hear a pre-recorded message, hang up immediately. Do not press any buttons. Engaging with a robocall only gives potential scammers more leeway to pursue you. 
 

Reduce Paper Use

Paper statements and checks leave your personal information vulnerable to identity theft if lost, stolen, or damaged. Opt for eStatements and pay with credit cards or cash when possible. Keep in mind that credit cards typically offer fraud liability protection in addition to the ability to dispute fraudulent charges.
 

TowneBank is Here to Help

TowneBank is committed to supporting you in all aspects of your financial journey. We offer fraud protection services for businesses, educational resources, and more as part of our proactive approach to fraud prevention. For more information or if you believe you may be a victim of fraud, contact your local banker or nearest branch. We’re here to serve you.