5 Tips to Protect Your Bank Accounts from Fraud

You may worry about your bank account being vulnerable to fraud. There are things you can look for and actions you can implement to help protect your money. Do not assume that predators will not target you; stay wary and informed if you wish to be less susceptible to scams.

5 Tips for Protecting Your Bank Account

These safety practices can help prevent your bank account from being hacked.

1. Implement Two-Step Identification: When you activate two-step identification, a code will be sent to your phone to enter along with the password. That way, if someone were to get a hold of your password, they still wouldn’t be able to access your bank account information.
2. Do Not Click on Links in Emails or Texts: If you receive an email or text regarding a bank transaction, do not click the link. Be very suspicious of any email or text you receive. Scan the message for grammatical errors or an odd email address.
3. Set Up Account Alerts: Monitor your account closely and sign up for alerts if significant changes happen. That will help you detect fraud early.
4. Stay Up-to-Date on New Scams: Unfortunately, scammers are creative. They are always finding new ways to steal money. When you stay informed, you will know what to watch.
5. Call to Verify any Bank Transfer Requests: If you receive any requests for money, such as an IRS back payment or a transfer from savings to a checking account, always look up your bank’s phone number and call to confirm the transaction. Do not call the phone number listed in the email. And remember: the IRS will always communicate via snail mail. They will never phone you.

You can be armed with the knowledge to protect your hard-earned money.