International Fraud Awareness Week runs from November 17-23, 2024, spotlighting the importance of reducing fraud through awareness and education. But beyond this week, staying vigilant year-round is crucial for effective fraud prevention. Here’s a checklist to help keep you protected.
1. Know Common Types of Fraud
Understanding common fraud tactics helps you better identify and protect against scams. Here are some of the most prevalent types:
- Phishing: Fake emails or messages that look legitimate, often posing as trusted organizations, aiming to steal personal data like passwords or credit card details.
- Identity Theft: Fraudsters use your personal information to open financial accounts or make purchases in your name.
- Investment Fraud: These scams involve fake investment opportunities promising high returns with minimal risk.
- Online Scams: Fake websites or social media profiles trick you into making payments or sharing personal details.
- Credit Card Fraud: Stolen card details lead to unauthorized purchases.
2. Use Strong Passwords
Though it’s often repeated, strong passwords are essential for online security. Avoid obvious choices like names or birthdays; instead, create long, complex passwords combining letters, numbers, and symbols. For easier recall, use memorable phrases. Password managers can help generate and securely store unique passwords for each account, ensuring one compromised password doesn’t lead to access to all your accounts.
3. Be Cautious with Emails and Links
Phishing scams thrive on deceiving users into clicking malicious links. Always verify unexpected emails—especially those requesting personal information, downloads, or links. Hover over links to check for suspicious URLs. When in doubt, contact the organization directly using a known contact method, not the provided email link. Spelling or grammar mistakes are also red flags.
4. Monitor Your Accounts Regularly
Consistently checking your bank, credit card, and credit reports allows you to spot and address unauthorized activity promptly. Many financial institutions offer alerts for transactions, providing an extra layer of monitoring. You can also get a free credit report from each major bureau annually—Equifax, TransUnion, and Experian—which means checking a different bureau’s report every four months at no cost.
5. Protect Personal Information
Be vigilant about your personal data, especially online or over the phone. Scammers may impersonate trusted organizations to obtain sensitive information. Limit what you share on social media; fraudsters often collect details like your address, birthdays, and family info from public posts. Use shredding services for documents with personal data, like old bank statements and credit card offers, to prevent theft from discarded paperwork.
6. Use Multi-Factor Authentication (MFA)
MFA adds an extra security layer by requiring multiple verification forms, often a password plus a unique code sent to your phone. Many online services, including banks, offer MFA as an option to strengthen your account security, providing an effective barrier against unauthorized access.
7. Be Cautious of Unsolicited Calls
If someone calls claiming to be from your bank or another organization, verify their identity before sharing any personal information. Hang up and call the organization back using a verified phone number. Legitimate companies have strict protocols and won’t ask for sensitive information like account passwords over the phone. High-pressure tactics, threats, or offers that seem too good to be true are usually warning signs.
8. Report Fraud Quickly
If you become a victim of fraud, report it promptly. Early reporting helps limit further damage. Key places to report fraud include:
- Local Law Enforcement: For identity theft or fraud-related crimes.
- Federal Trade Commission (FTC): For reporting fraud in the U.S.
- Credit Bureaus: To place a fraud alert or freeze your credit after identity theft.
- Consumer Protection Agency: For various scam reports.
9. Educate Yourself and Others
Awareness is an ongoing effort. Staying informed about new fraud tactics can help protect you and those around you. Take advantage of resources offered during Fraud Awareness Week, such as webinars and seminars, and keep informed year-round through reliable sources like government agencies and consumer protection groups.
10. Secure Your Devices
Protect your digital devices with security software, regular updates, and secure internet connections:
- Antivirus and Anti-Malware Software: Regularly updated, these offer essential protection.
- Software Updates: Keep your operating systems and apps updated to patch vulnerabilities.
- Virtual Private Network (VPN): Use a VPN on public networks to shield your internet activity.
Secure Records Solutions can support your legal, medical, financial, government, or educational organization in safeguarding information through secure off-site records storage and compliant shredding. With over 20 years of experience, Secure Records Solutions is just a call away at 800-614-0856, or feel free to complete our contact form.
