Fraud can cause long term financial and reputational damage to a person. It’s essential we take proactive steps to protect ourselves. Here are our top 3 fraud prevention tips to protect you from the fraud tactics relevant in 2024.
#1 Learn About New Fraud Tactics
As technology continues to evolve each year, so do the fraud tactics. Stay updated on the latest fraud schemes, such as AI-Voice scams, where fraudsters use artificial intelligence to replicate other voices. Visit reliable sources like the Federal Trade Commission’s website to stay informed and be better equipped to recognize suspicious activity.
#2 Take Your Time Making a Decision
Scammers will often use urgency and fear to pressure you to make a quick decision without thinking. Before you give out sensitive information or send money, always talk to someone you trust or verify the request by contacting the organization directly through their official website.
#3 Monitor Your Accounts Daily
Checking your accounts regularly is one of the simplest, yet effective ways to catch fraudulent activity. Today Online and Mobile Banking make it easy to check your accounts within minutes. Review your balances, pending transactions, or credit score for any unusual activity or changes.
Remember that anyone can be a victim of fraud. Follow these three tips to help you spot fraud scams and protect your financial well-being.
Additional Resources:
https://consumer.ftc.gov/articles/how-avoid-scam#avoid
https://www.consumerfinance.gov/ask-cfpb/what-are-some-common-types-of-scams-en-2092/
