Top 10 Fraud Prevention Dos and Don’ts
1. DO be observant when withdrawing cash from ATMs
Look for wobbly parts and malfunctioning screens as these may indicate the presence of a card skimmer. Contact your card issuer immediately if you accidentally insert a card into a suspicious ATM.
2. DO know your daily balance for checking and savings accounts
Even better, sign up for mobile card controls and alerts that notify you of every transaction. We offer CardNav for your MONEY FCU debit card – download it for Apple or Android and take control of your card.
3. DO check your own credit
Identity thieves are hard at work opening accounts in the names of innocent consumers – don’t let this be you. Every consumer in the U.S. is entitled to receive a copy of his or her credit report once a year. Visit www.annualcreditreport.com to get your official credit reports for free.
4. DO read the fine print
Before submitting payment information or clicking links, double check all URLs and email addresses. Make sure there are no extra commas or unusual characters. Fraudsters are masters at impersonating brands and individuals. Run frequent virus scans on all home computers and Android devices as well.
5. DO remember if it seems too good to be true, then it’s probably a scam
Secret shopper scams are still circulating. If you get an offer to deposit a check, shop at a certain store, and then return some of the funds back to the sender, you’re getting scammed.
6. DON’T download apps from anywhere
There are many unlicensed banking apps out there, and many popular smartphone apps today that appear harmless but contain malicious code. If you need to access mobile banking for your MONEY FCU account, ask us how to find it in your phone and what the icon looks like.
7. DON’T believe everything you hear or read
Fraudsters love to catch people when their resistance is down and frequently attach a sense of urgency to their requests. If someone calls or texts you “with a very important message from your card issuer”, don’t pick it up and don’t respond. Call your card issuer directly and ask if there is an issue with your card.
8. DON’T talk to unknown callers
If you don’t recognize the phone number calling you, don’t answer. Fraudsters are aggressive, and there are many tools out there they can use to fake a human voice. Don’t give away a sample of yours.
9. DON’T swipe cards
EMV chips cards are far more secure than old magnetic stripe cards. If a merchant is still asking you to swipe your card, shop somewhere else, or use cash.
10. DON’T store card numbers on websites you don’t frequently use.
A breach on any site can send your card data to the dark web. Always look for the little lock in your browser window to ensure that a webpage is secure.
Follow the SEA approach for smooth sailing.
S is for Slow Down
If you don’t know the person calling or texting you and they are urgently requesting your card or personal information, hang up or ignore the text until you can evaluate the situation.
E is for Evaluate
Do your own fact finding regarding calls and emails to determine why anyone needs your social security number, date of birth, or PIN. Chances are, no one needs this information except a criminal.
A is for Act
Notify your credit union immediately if you think you have encountered a fraudster and any of your information has been compromised.