Scammers lurk in inboxes, phone calls, and social feeds, ready to flip a few clever tricks into your next month’s rent. While you’re left juggling phantom debts and frozen accounts, they walk away with your peace of mind and hard-earned cash. Stay one step ahead by following these 16 proven tactics that shut down would-be fraudsters before they strike—your sanity and your wallet will thank you.
Expired Cards
If you have old card numbers piling up on automatic payments, such as for your car or other recurring expenses, it creates an issue. When you update your card, it keeps your details fresh and reduces the chances of fraud or mistakes. Ensure that you stay on top of things, as this will help keep your accounts in sync.
Signature
Signing your name on your cards helps ensure your identity when you’re shopping in person. If your card is unsigned, anyone who finds it can use it to their advantage and rack up charges on your card. Banks and merchants still recommend this tip today, and while not every merchant asks for ID, some do.
Passwords
Reusing passwords isn’t a good idea because it’s easy to figure out your pattern. Strong passwords that are unique and not easily guessed (by other people trying to access your accounts) are the best option because they keep your accounts safe. Avoid birthdays, 1234, and other common passwords, such as “love.”
Authentication
Adding two-factor authentication to your accounts makes it more difficult for thieves to gain unauthorized access. It’s free, and most banks and apps offer this feature, which has been proven to significantly reduce the risk of fraud. It’s a good idea to add more than just your password because, without the extra step, it’s far easier to hack your accounts.
Alerts
To stay ahead of fraud and hackers, set up transaction alerts to remain informed and be proactive. When you have any transaction, it will automatically pop up on your phone. This allows you to identify anything suspicious immediately, and you can address the issue before it becomes difficult to handle. You can customize alerts by merchant or transaction amount, making it easy to stay in control.
Phishing
Phishing emails can appear genuine but often contain malicious links hidden within the text. If you click the link, it can expose your full account details. It has been estimated that 70% of breaches begin with these phishing links. Some emails can even spoof your bank and use its legitimate address, making it difficult for you to distinguish between the two. When you receive any email, examine the grammar and wording carefully; bad grammar is always a red flag.
Card Information
Whenever you save your card information online, it’s a risk, and that’s true even with a major retailer. Manual entry means that you have fewer chances of your data being leaked if the site gets hacked. Another problem with auto-saving is that it’s easy to forget about, making it a less desirable feature to implement.
Sharing Your Card
When you are dealing with someone on the phone, never share your credit card number with them. It’s easy to get scammed because scammers are using more sophisticated tactics, such as pretending to be a delivery person or a bank representative. You need to verify the legitimacy of the numbers provided. Voice phishing has been on the rise, so be sure the call isn’t fake.
Virtual Cards
Virtual card numbers serve as a temporary shield for your real details when you’re shopping online. The numbers will expire after you use them, so if a merchant happens to get hacked, you won’t be hurt by it. Popular banks, such as Citi and Capital One, both offer this advantage.
Shredding
If you have trash, people might go through it. Old account statements are especially tempting because they contain all your information, making it easier for someone to gain access to your identity and rack up serious debt. Shredding ensures that unless the person has a lot of time on their hands and significant skill, they won’t be able to piece your information back together. Seniors, in particular, should shred their documents. Cross-cut shredders are the best option.
RFID-Blocking Wallet
An RFID wallet can prevent RFID skimming, a common occurrence where thieves steal your card data wirelessly. An RFID-blocking wallet will protect and shield your cards from unauthorized access. They block the 13.56 MHz frequency that scammers commonly use. A good one costs around $20, and it effectively stops thieves.
Public Wi-Fi
While having Wi-Fi in public is convenient, it can be dangerous. Public networks are often a playground for hackers. Any transaction performed over these networks can be hijacked without warning. Public hotspots typically lack encryption, further increasing the risk. If you need to shop online, consider using a VPN.
Lock Up
Some banking apps allow you to lock your card by tapping your phone. This feature is designed to stop thieves from using stolen cards. Even if it’s only a short-term lock, it deters fraudsters and helps you block hackers more effectively. It’s a great tip for traveling and shopping online. Reactivation, if needed, takes only a few seconds.
ATM Skimmers
Skimmers are devices meant to steal data. They are fake card readers placed over real ATM slots that capture your card information. Always tug on the reader to check for any looseness, and cover your PIN with your hand when typing it. These skimmers are responsible for significant financial losses annually, so it’s essential to remain vigilant.
Monitor Your Cards
Thieves often test stolen cards by making small charges because most people don’t notice, allowing them to fly under the radar. If you observe any vague charges under unfamiliar names, you may be witnessing test runs. Catching these early can prevent something more serious from occurring later.
Be Safer
When you start monitoring your finances, you’ll begin noticing anomalies that you might have missed before. It’s easy for scammers to steal money, and while it happens more often to older individuals, it can affect people of all ages. Keeping these tips in mind will help you avoid becoming a victim of fraud.
