How To Prevent Fraud
Even the most honest and law-abiding civilian can be deceived and tricked by scammers. In this world we live in today, it’s hard to set apart trustworthy people, and those who just want to swindle you, like identity thieves and hackers. Oftentimes, people don’t realize they’re being cheated until it’s too late.
Fraud is very widespread today, and if you’re not careful, you might find yourself victimized by deceitful individuals. Whether at home, outside, online, or even through your mailbox, scammers can rob you of your finances, without noticing anything. Unless you practice constant vigilance, you might find yourself in one of these fraudulent traps.
Here are several helpful tips on how to prevent fraud.
Credit Card Fraud Prevention
Debit, ATM and credit cards changed the way people do business, purchases and handle money, providing convenience and safety. Unfortunately, they can be causes of fraud, if not properly used.
Pick a PIN (Personal Identification Number) that you can remember, but isn’t very obvious. Don’t use birthdates, phone numbers, repetitive digits and house numbers.
Don’t let anyone know your PIN. If you must write it down, put it on a slip of paper, and hide it. Never keep it in your wallet or purse, along with your card.
Shred your bank statements before throwing them in the trash. Sometimes, identity thieves go through your trash to get your account number and use it to access your account.
Don’t forget to get your card back after making a purchase.
If you can, get your bank statements online. Remember, when doing online bank transactions, make sure you’re using a private PC. Don’t access your account in public places like Internet cafes and libraries.
Sign the back of your cards.
When entering your ATM PIN, shield the keypad with your hand.
Always know where your cards are. Keep your purse or wallet safe at all times. If it’s lost, call the bank immediately.
Don’t allow anyone to use your cards.
Phone Fraud Prevention
Even a simple phone call can make you a victim of fraud, without you noticing anything. Usually, scammers look for unsuspecting criminals that provide them with information like bank account number, birth dates, and Social Security number. This is why you must be vigilant when suspicious people call you up and ask for these and other personal information.
Hang up if:
You don’t know the person you’re talking to, and yet he or she is asking personal questions about you.
The caller says you’ve won a prize, and to claim it, you must give personal facts for verification.
The caller asks for your date of birth, credit card numbers, SS number and bank account number.
The caller claims he or she is from your bank, and asks for your account number. Most banks don’t call and ask personal information over the phone, so be suspicious of this.
Mail Fraud Prevention
E-mail has now replaced the traditional snail mail, but there are still plenty of people who use this communication system. Unfortunately, snail mail has a number of flaws that allows it to become a way for scammers to trick other people.
Be aware of your billing cycles and card statements, SS checks, and pension payments.
Always empty your mail as soon as you receive it.
Install a locking mailbox, if possible.
If you suddenly stop receiving bank statements or if they arrive delayed and obviously tampered, call the post office immediately.
Don’t send a check to respond to a sweepstakes mail. If you must send one to a charity, make sure you’re very familiar with that charity.
Check Fraud Prevention
Aside from cash and credit cards, Many people rely on checks nowadays when doing purchases or transactions. Check fraud is easy to commit, though, if not given proper attention.
See if your checks have security features that can prevent fraud. See the list of security features on the back.
Keep your checkbook hidden in a safe place at all times, as well as canceled and cashed checks. Don’t leave them lying around.
Avoid putting too much personal information on your checks.
When you get new checks from the bank, look through your checkbook and make sure the numbering sequence hasn’t been broken.
Avoid making your checks payable to cash, and make sure you don’t sign a check until you’re already inside bank premises.
Remember, marker ink pens and ballpoint pens can be washed off. Use a gelpen instead, when signing checks.
Don’t leave fields like “Amount” or “Pay to the order of” blank.
Being careful about your accounts and personal information is a must in our world today. Always be vigilant, and keep the tips above to avoid fraud and prevent scammers from getting the best of you.