Five Practical Steps You Can Take to Protect Yourself from Fraud
Fraud can happen to anyone, regardless of how cautious or tech-savvy you are. Whether it's a phishing scam, identity theft, or fraudulent transactions, the consequences can be severe, affecting your finances, credit score, and personal information. Fortunately, there are practical steps you can take to minimize your risk and better safeguard your personal and financial data. By implementing a few simple precautions, you can stay one step ahead of potential fraudsters. Here are five quick and effective steps you can take to protect yourself:
Use Strong, Unique Passwords: Avoid using easily guessable passwords like “123456” or “password”. Use a mix of letters, numbers and special characters and consider using a password manager to keep track of them. Remember the longer the password the more secure it is. Aim for at least 12 characters and avoid using the same password across multiple sites.
Enable Two Factor Authentication (2FA or MFA): Wherever possible, turn on 2FA for an extra layer of protection. This will require a second form of verification (like a text message or email) in addition to your password.
Monitor your accounts regularly: Check your bank account, credit cards and other financial statements for any authorized transactions. Early detection can help prevent future damages. Remember you can order a free copy of your credit report annually to check on this as well.
Be Cautious with Unsolicited Requests: Be wary of unsolicited emails, phone calls or messages specifically with links attached and asking for personal or financial information. Always verify the source before responding.
Secure Your Devices: Keep your software, antivirus, and operating systems up to date to protect against malware. Utilize a firewall and steer clear of public Wi-Fi whenever possible. If you absolutely need to use public Wi-Fi, refrain from accessing any sensitive accounts, such as your banking information.
By staying vigilant and following these steps, you can reduce your risk of falling victim to fraud. Stay safe!
