Every day, the FBI Internet Crime Complaint Center gets thousands of reports of fraud. So, what should you do if you become a victim of a scam or fraud? We have five tips that could help protect your privacy and finances.
- Call Your Financial Institution. They can put a freeze on your accounts to help minimize access and stop all funds from going out until you can verify their authenticity. This should include canceling any affected credit and debit cards and re-issuing new cards. If you find any fraudulent charges, your financial institution may be able to help you dispute them.
- Update Your Passwords. This includes your online banking login passwords, as well as passwords for email, social media, apps, and more. Be sure every password is strong and different from one another.
- Place a Fraud Alert with the Credit Agencies. Contact Equifax, Experian, and TransUnion and put a freeze on your credit. This will keep any business or criminal from accessing your credit information and opening new accounts in your name.
- Monitor Your Accounts Daily. Login to online banking every day. Look for withdrawals and purchases you did not authorize. If you spot one, get a hold of your financial institution right away. Don’t forget to include your investment accounts in your daily reviews.
- Report the Fraud to the Authorities. File a complaint with the Consumer Financial Protection Bureau, the Federal Trade Commission, and the FBI’s Internet Crime Complaint Center.
Protect Yourself from Fraud
Before you become a victim, follow these quick tips to keep criminals out of your life.
- If it sounds too good to be true, it probably is a scam. Big savings and incredibly low prices, as well as get-rich-quick schemes, are almost always scams.
- Scrutinize every email and text. Clicking a phishing email or text can be damaging. Double-check that the email is authentic by looking at the sender of the email. Is it really from a government agency or your financial institution? If not, it’s a scam.
- Don’t Trust Social Media. Just because a friend reposts a special offer or incredible coupon doesn’t mean it’s authentic. Tread carefully online. It could save you time and money.
- Verify Phone Calls. If someone calls and says they are from the government or your financial institution, don’t trust them. Tell them you will call them back. Then look for the number for the agency or institution online and call them directly.
Boost Your Financial Wellness
More Financial Wellness Matters blogs on topics ranging from financial self-care to protecting your financial health are coming soon. Twice a month, we’ll dig a bit deeper into the relationship between financial health and overall well-being, shedding light on the behaviors and beliefs that drive money relationships. With simple tips and proven insights, we hope to enhance your financial well-being and help you live a healthier, happier life.