Shopping trends are changing, and a record number of consumers are making their purchases online. As more people turn to tech for their shopping needs, the scammers are quickly following suit.

A 2021 TransUnion survey found that digital fraud attempts in the U.S. rose 17.1 percent from the same time the previous year. That means millions of folks have been affected.

We want you to be financially safe online, so here are some steps you can take to ensure fraud doesn’t happen to you.

Check your accounts regularly for unusual activity

Many banks, including FirstBank, allow you to sign up for security alerts that will notify you when your personal information is changed or when suspicious activity is detected. In many circumstances, you can also personalize these alerts for specific activity  — such as deposits or withdrawals over a certain amount, or when  your account dips below a certain threshold. We recommend that you enroll for security alerts with all your financial institutions.

Change your passwords often

In addition to changing your passwords regularly, use different usernames and password combinations for each online account. Passwords are the first line of defense to prevent unauthorized access. The strength of your password is based on its complexity, length, and uniqueness. If additional authentication methods are offered, such as image verification, security questions, or access confirmation on a separate device, use them and ensure you complete them for all accounts.

Beware of phishing scams

If you are contacted by someone – completely unsolicited – seeking personal information, chances are this is a phishing scam. No credible company or government agency will contact you asking for your personal information via e-mail or over the phone. With phishing scams, fraudsters usually pose as company representatives, use authentic-looking websites or emails with malicious links in an attempt to gather your personal information. Do not provide any sensitive information and avoid clicking on links from unfamiliar or suspicious sources.

Be a little less “social” on social channels

Identity thieves also use social channels, like Facebook, Twitter and Instagram to find out more personal information about you such as family names, where you went to school, your birthdate, and more. Check your privacy settings and avoid listing sensitive information.

Be sure to report anything unusual. If you suspect fraudulent activity on any of your accounts, contact your financial institution immediately. You should also contact any of your other banks or credit card companies as soon as possible.

Victim of Identity Theft? Consider The Following Steps

Obtain and review a copy of your credit report

You can submit a single request for all three credit reporting agencies at AnnualCreditReport.com.

Consider placing a credit bureau fraud alert or security freeze on your credit

A fraud alert is a notice placed on your credit report, warning prospective lenders that you are a victim of identity theft. If an alert is active, creditors should take extra steps to verify your identity before granting credit to the person claiming to be you. A security freeze, on the other hand, is a good option if you don’t anticipate needing a new credit card, loan or line of credit in the near future. But it does have a fee associated and will require extra steps if you need access to credit.

To place a security freeze or issue an alert, you will need to contact each credit bureau independently:

Equifax: (800) 685-1111 or visit the Equifax website.

Experian: (888) 397-3742 or visit the Experian website.

TransUnion: (888) 909-8872 or visit the TransUnion website.

Explore a private credit monitoring or identity protection service

There are several independent companies that offer free credit monitoring services. Some examples include WalletHub, CreditKarma, and Experian. It’s important to note that these free services may not monitor all three credit reporting bureaus. However, there are paid monitoring services available that monitor activity of all three bureaus and typically charge anywhere between $15-$30 per month. Experian, myFICO, and Lifelock are worth researching and there are others as well. Ultimately, it’s important to do some research to find what will meet your monitoring and budget needs. 

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