How To Protect Your Account From Scammers

Between fishy links and unprecedented calls, scammers come up with new ways to target innocent people every day and get access to confidential information. With the holiday season coming up, you may find yourself online or shopping in stores more, leaving you at risk for scammers to steal your information. Learn how to protect your account and keep your information secure.

1. Create Strong Passwords

The first step to keeping your online accounts safe is with a strong password. Actually, instead of a password, create a passphrase. A passphrase is multiple words strung together – because what’s easier to guess: one word or multiple? Once you have a passphrase in mind, add uppercase, lowercase, numbers, and special characters. The harder your password is to type the less likely it is to get hacked into. Examples of strong passwords:

  • 1L0veMyCr3ditUni0n!
  • jeLLy77fi$HStiNg$
  • jAck&jIllw3ntUptheH!ll
  • Gr8test0fAllT!mE
  • F00tbAllRul3s!

When you create a strong password, make sure it is only for one account. Every account you create needs a strong password. If you only had one password for all of your accounts, and a scammer got it, then all of your accounts would be compromised. Yes, it can be hard to memorize all your passwords, so try looking into a password account manager – avoid writing them down in a notebook!

2. Avoid Clicking On Suspicious Links

Scammers try to trick you into clicking on malicious links through emails and texts, otherwise known as phishing or SMishing. They will send you an email or text asking you to click on a link. To trick you, the message is usually urgent – asking you to reply quickly. It asks you to take action within a certain timeframe or there will be a consequence. For example, scammers have sent emails to people saying they must click on the link to confirm their identity or their account will be closed in 24 hours.

Other signs of phishing and SMishing attacks are:

  • Misspellings or typos in the body of the email and/or in the logo or email address
  • Asking for money to receive a prize - First of all, if it is a prize, you should not need to pay for it. Second of all, this is how scammers can easily get credit/debit card information.
  • Wanting to verify your account information – Scammers pose as your financial institution to collect your confidential account information. Remember, your financial institution has this information on file and does not need you to provide it.

3. Turn On Multi-Factor Authentication

What’s better than one line of defense? Two! Multi-factor authentication (MFA) is a secondary login screen that will ask you to verify your account by sending a temporary access code to the email or phone number on file with the institution. In theory, the only person who has access to your phone or email is you! If a scammer guesses your username and password, they will be stuck in their tracks with multi-factor authentication.

4. Monitor Your Account Regularly

Do you have a general idea of what is going on with your accounts, specifically your checking and savings accounts? Do you know how much is in these accounts? Do you recognize the purchases and transfers being made from these accounts? Being aware of your account activity helps identify if and when fraud occurs.

On a semi-frequent basis, log in to your account and view the transaction history. If there is a transaction you do not recognize, you should call your financial institution immediately to determine if you have become a victim of fraud. From there, they can dispute the charge and close the account for you to avoid future fraud attempts.

5. Keep Your Information Secret!

Avoid giving out sensitive information to family and friends. Keep your usernames, passwords, and account numbers secret. The account holder(s) is the only person who should have access to your account. Even if you find someone trustworthy, it is best practice to keep your information safe by keeping it a secret.

Keep these steps in mind when you are holiday shopping this season. Be aware of your account activity and if you come across something suspicious, report it!