Fraud can happen to anyone – anywhere, any time. Chances are, you have probably received fraudulent emails or phone calls, encountered fraudulent websites or received fraudulent mail at your home. In a world filled with fraudulent activity, stay alert to ways that you can reduce your risk of personal fraud. Below we’ve compiled our fraud content in a fraud prevention guide to help you protect yourself from becoming a victim.

Do your part to protect against cybersecurity threats

Cybersecurity should always be top of mind for consumers. According to Statista‡, the 2023 annual loss of fraud complaints amounted to $12.5 billion, up from $10.3 billion the year before. Cybercriminals are becoming more sophisticated in their attacks on individuals with the use of text messages, phone calls, emails and artificial intelligence (AI). Unfortunately, today, it’s not a matter of if an individual will become a victim, but when, so making yourself a more challenging target to scammers is vital.

Protect yourself online

It’s important to remember that in addition to offering convenient access to resources, the internet can also expose you to social engineering, identity theft, fraud or other cybercrimes. What we do online, whether at home or work, has the potential to affect everyone. To help prevent online fraud or loss, make an effort to improve and change your online habits.

Now more than ever, it is essential to learn how you can protect yourself and your information when using the internet. Use these four tips to protect yourself and your information.

  • Don’t use free Wi-Fi networks unless you know they are secure.
  • Create strong passwords and use credit cards, not debit cards, when making purchases online. You can also add two-factor authentication to all of your accounts.
  • Think before you click! Don’t fall for a phishing scam. Look for names spelled wrong and always verify email addresses and phone numbers before you respond.
  • Protect the elderly – one in five elderly Americans are victims of financial exploitation each year.

Watch for scams during peak spending seasons

Scammers can come after your finances during any time. Popular times for shopping and spending like summer vacation or the holidays are prime time to watch out for scams. Here are some simple tips to stay aware:

  • Be careful where you charge your phone
  • Know how to spot an ATM or pay-at-the-pump card skimmer
  • Consider using your smartphone’s mobile wallet rather than carrying cash or cards
  • Pay attention to your mail – as snail mail picks up around holiday seasons, pay attention to the fine print on pieces you receive that might try and sell you something, make you think a bill is past due or look like something official from your bank or a store where you have a credit card.

In addition be aware of:

  • Caller-ID spoofing: This is a tried-and-true method for scammers and continues to be one of the most popular ways for criminal actors. They will spoof phone numbers of legitimate businesses to elicit trust from the person receiving a call. Be mindful of who is calling you and confirm the number is legitimate by saying you will call back and then call the business directly by finding their phone number from their website.
  • Text impersonation: Be vigilant about the text messages you receive. So many companies now send texts with sales or discounts associated with them, but you want to be mindful of it you signed up to receive text alerts from the company. In addition, some scammers send text messages to customers impersonating their financial institution regarding concerning activity on their account. It is best to not click on any links unless you are certain of the sender. A common text is that a package can’t be delivered or is being held at the post office. This is typically a scam and you should not click on the link in the text and instead report it as spam.
  • Mail theft: Scammers can also steal your mail to as a means to obtain information that might be helpful in fraudulent activities. Turn on paperless statements when you can and be diligent about securing and collecting your mail.

Vigilance is key when trying to stay safe online. If something looks weird or feels off, confirm before you click on anything or enter personal data. Keep your accounts as secure as possible by adding multiple authentication options and monitoring your accounts often. As a reminder, your banking team is always a source of truth to ensure a request for money or a communication you’ve received is legitimate.

Protecting health and wealth – Explore tips for protecting your financial future through the Protecting Health and Wealth playlist on the UMB Financial Education Center.

Check the UMB Privacy and Security Center to learn more about risk-mitigation best practices and view security alerts.

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.