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 2022 annual loss of fraud complaints amounted to $10.3 billion, up from $6.9 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

Popular times for shopping, spending and traveling, like spring break, Fourth of July and the holiday season, are prime time for scams and scammers to take advantage. Here ae some simple tips to stay aware while your celebrating:

  • 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.

Pay attention to your mail – as snail mail picks up around the holiday season, 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.

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. A personal banker can help answer your questions about how to stay safe online.

 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.

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