Fraud is on the rise, and keeping your money safe at the bank has never been more important. How do you avoid falling victim to scammers? Here are 7 tips to avoid fraud and protect your money at the bank—starting with the basics and going all the way to advanced strategies.

1. Do not enter suspicious links or unknown sites.

This one is crucial. I know, it’s tempting to click that email link or ad that looks a bit off. But if you’re unsure, don’t click it.

Always go directly to the bank’s official website. Save the bank’s page in your browser to avoid any errors. Bookmark it, make it a habit. You never want to end up on a fake page that looks identical to the real deal, but isn’t.

If you’re thinking, “How would I know if it’s fake?” A simple trick is to always look at the URL. If it’s unfamiliar or has odd symbols or extra characters, don’t trust it. Stick to the bookmark you saved.

2. Enter the second authentication method only on official sites.

Two-factor authentication (2FA) is great for security, but only when it’s done right. Always make sure you’re entering your second authentication code on your bank’s official site—not on random links sent by third parties.

Scammers love sending messages that look like they’re from your bank, asking for a 2FA code. Never share that code unless you’re 100% sure you’re on the official bank site.

3. Enter your bank credentials only on the official site.

This seems obvious, but you’d be surprised how many people get this wrong. Only enter your bank login credentials on the bank’s official page.

When you’re typing in your username and password, make sure:

  • Your password is strong (include numbers, symbols, upper and lower-case letters).
  • You never use the same password for multiple sites.
  • You keep this info to yourself. Don’t share it with anyone, not even your friends or family.

Also, a quick reminder: banks will never ask for your credentials over email, phone, or messaging apps.

4. Banks will never ask for personal information or passwords through WhatsApp, calls, or other channels.

This is a red flag. If anyone claiming to be from your bank contacts you through WhatsApp, SMS, or even phone calls asking for personal details or passwords, don’t fall for it.

Banks never do this. Ever.

Scammers might sound convincing, but legit banks always keep communication professional and secure.

So, if you get a strange message, even if it looks official, take a moment to think: “Would my bank really ask for this information like this?” The answer is no.

5. Verify that the website you’re purchasing from is secure.

Online shopping is convenient, but it’s also a goldmine for fraudsters. Before you make a purchase, always verify the site is secure. Here’s how to check:

  • Look for the padlock icon in the browser address bar.
  • Check if the URL starts with https, not just http.
  • Make sure the site looks professional—no odd fonts, typos, or low-quality images.

If you’re still unsure, Google the company and see if others have flagged it as a scam. Don’t rush. Take a minute to verify before entering sensitive info.

6. Be wary of extremely attractive promotions or offers.

If it sounds too good to be true, it probably is.

Fraudsters know how to reel people in with insane promotions. You might see an offer for a high-end product at 90% off, but here’s the reality: It’s likely a scam.

Before jumping on a great deal, do your research. Ask yourself:

  • Is this company well-known?
  • Do they have legit reviews?
  • Does the price make sense for the product?

Always be on guard. There’s no such thing as a “free lunch”, especially when it comes to your money.

7. Obtain Digital Fraud Insurance.

It’s 2024, and just being cautious isn’t always enough. Digital fraud insurance is a smart backup plan.

This insurance can cover you if you become a victim of fraud or identity theft, helping recover your funds and get your life back on track. It’s an extra layer of protection, and honestly, with how rampant fraud is these days, it’s worth looking into.

Ask your bank about their fraud protection plans. Many banks offer policies that are affordable and can save you major headaches down the line.

Remember, protecting your money is all about staying alert and following these common-sense tips. Fraudsters are always evolving, but by sticking to these simple guidelines, you’ll be ahead of the game. Avoid fraud and protect your money at the bank, every step of the way.