The Basics of Banking: Part 6

In our Basics of Banking series, Origin Bank has discussed the importance of financial education, teaching you how to develop good habits that improve financial security and help avoid debt.

Yet all of this work can be lost in an instant if you don’t guard against fraud and identity theft. With scammers becoming more sophisticated than ever before, it’s important to learn how to protect yourself. In this installment, our Origin Bank experts will teach you how to recognize common red flags such as unsolicited requests for personal information, suspicious links, or urgent payment demands.

Stop fraud in its tracks

Whether you’re operating online or in person, your personal information is always vulnerable. So whenever you provide your financial information to someone else, ensure it will be kept private. Here are a few tips to keep yourself protected:

  1. Always be on the lookout for phishing scams. Among the most common types of scams are emails and text messages that trick you into entering your information into a fake website. So anytime you get a text asking for sensitive info, verify that the email or text you receive is from a legitimate person or business before handing over your data.
  2. Protect your most sensitive information. Thieves constantly target people for their Social Security, driver’s license, or bank account numbers. Keep those guarded at all times, and be extra careful when giving them out to avoid identity theft.
  3. Never give out the PIN for your bank card. It might be tempting to let someone borrow your debit card. But every time you do, you’re increasing the chances that your card will be misused, and your money might be stolen. That’s why it’s also a good idea to change your PIN periodically.
  4. Get into the habit of checking your account daily and set up automatic alerts. Monitoring your account activity is an easy habit to develop and one of the best ways to catch fraudulent activity early. Enable debit alerts to help keep track of charges in real-time. If you notice anything unusual, contact your bank immediately.
  5. Know how to freeze your credit. If you think your identity has been stolen, you’ll need to contact at least one of the country’s three major credit bureaus – Equifax, Experian, or TransUnion – to prevent any credit files from being opened in your name. You can learn more about the process here. If your identity has been stolen, it’s also wise to set up a fraud alert, a free service available through the Federal Trade Commission’s website.
  6. Never log into your bank account on someone else’s device. Whether it’s a laptop, phone, or tablet, logging in on a foreign device puts your information at greater risk of abuse and theft. Stick with devices you control, and keep them password-protected.
  7. Go paperless. Thieves often look for financial records tossed in the trash. Sign up for email statements and text alerts, and use secure online sites or mobile apps offered by your bank or credit card to check your accounts and pay your bills. If you do have documents with your account data on them, store them securely and shred them before tossing them out.

Origin Bank encourages everyone to stay on guard against scams and identity theft. We offer several tools and security measures that give you control and protect your account. Want to test your fraud-detection skills? Take our quiz and find out if you have what it takes to spot fraud. And, as always, reach out to your Origin banker or contact our Customer Support Team at (888) 292-4037 if you notice any abnormal activity.