Scams, fraud, spam, hacks, and data breaches are increasingly common. If you’re worried about these threats, you are not alone. But don’t worry, there are steps you can take to reduce your risk and protect your identity and finances. Read this blog for how to strengthen your online security, prevent and mitigate fraud, and common scams to watch out for.

 

Start by Strengthening Your Online Security

It’s really tempting and easy to use the same password for everything. Unfortunately, scammers rely on this. If ALL your accounts use the same password, once one account is compromised, they all are. Make your accounts more secure by using unique passwords and tools that help you manage them.

For strong passwords, try a combo of letters, numbers, and symbols that are hard to guess. Another technique that might make frequently entered passwords easier to remember is using passphrases. Pick a few random words and string them together, like: ilovecreditunions!22. Make sure to avoid things that are meaningful to you, like loved ones, pet names, or hobbies.

 

Beware of Common Scams

With the rise of artificial intelligence, scamming attempts are a sometimes-daily occurrence for many of us. Whether it’s a sketchy text, phone call, or email, the goal is the same: to trick you into handing over your personal info and/or money.

Watch out for urgent texts or emails that claim to be from places like EZ Pass, USPS, a familiar financial institution, or a government agency like the IRS. These messages might say that you owe money or that your account is in trouble, then ask you to click a link. NEVER click a suspicious link (or a normal looking link from a suspicious sender) in a text or email! Also beware of phone calls asking for personal info, like your social security number, banking details, or login info. Hang up right away and call the real organization directly.

Another common scam includes fraudsters impersonating your loved ones and claiming to be in trouble. If someone says a friend or family member is in danger or needs money fast, hang up the phone immediately and call that person yourself instead. Individuals’ and company’s phone numbers are increasingly easy to spoof so if you’re in doubt, hang up the phone and dial the appropriate number yourself.

Important reminder: Never give your usernames, passwords, or security codes to anyone—no matter who they say they are.

Keep an Eye on Your Accounts

One of the best ways to catch fraud early is to regularly check your accounts. An easy way to passively check up on your accounts is to set transaction alerts so you get notified anytime your account is used. These alerts also have another benefit of keeping you aware of how you’re spending your money. If you can, spend a few minutes reviewing your account transactions once a week (or monthly if that works better for you). Make sure you do this on every account, including credit cards, checking, and savings accounts! If you see a charge you don’t recognize, lock your card in the applicable financial institution’s app/online platform and contact your financial institution right away. If you report fraudulent charges quickly, you’re usually not responsible for them. 

Are you worried about someone opening a credit card or loan in your name? You can freeze your credit to prevent this from happening and it’s easy to do and completely free. When you freeze your credit, it stops new credit accounts from being opened in your name and it doesn’t affect your current accounts or your credit score. Before you freeze your credit, keep in mind: if you’re applying for a loan, job, or apartment, you’ll need to temporarily "unfreeze" your credit. You can unfreeze and refreeze your credit easily online.

Make sure you freeze your credit at all three major credit bureaus:

If you’ve been notified that your personal info was involved in a data breach, consider adding a fraud alert to your credit reports. This tells lenders to take extra steps to verify your identity before approving credit.

If you believe you’ve been a victim of identity theft, visit the Federal Trade Commission’s ID Theft site to report it and get help with recovery. Make sure to take advantage of any credit monitoring services offered by the company that’s notified you of the breach.

Check out our other helpful blogs for more tips on staying safe online:

Do you have questions or need help? Our team is here for you! Contact us or stop by one of our branches. We’re always happy to help keep your accounts safe.

And remember: TruChoice will never ask for your password or email address etc. Please call us with any questions.