Fraud prevention can take some effort, but it's definitely worth it. Protecting your "worth" is the best way to ensure a healthy future in financial terms. Common sense goes a long way towards keeping your accounts secure, but constant awareness of the risk is not considered paranoid today. It's all too easy to become a victim. 

Develop Good Habits

Luckily, although it's not foolproof, it's possible to cultivate the habits that minimize identity theft and investment fraud. Here are some steps to take:

• This should go without saying, but keep your PIN private. When at an ATM, be aware of the surroundings and the people around you. Shield the screen or the keyboard as you enter the numbers. Never send your PIN over the internet or give it to someone over the phone. If you suspect that someone knows it or has used it in the past, ask that it be changed.

• Keep your passwords to yourself. And we know there are passwords for everything these days, but exercise this best practice and don't use the same password for multiple financial accounts. Maintain a written list of your passwords, but keep the record in a secure place and never share it with anyone.

• Ensure the anti-virus software on your computer is up-to-date and effective.

• Order only from secure, "https" designated, online sites. Keep records of all transactions so you can check charged amounts against actual bills. Look for the lock symbol or key in the address bar before you type in your credit card information.

• Always know when automatic payments are scheduled, and check to see that they are for the right amounts.

• Beware of cash transactions as well. Check bills for proper amounts and for correct addition. If you charge your pizza but leave a cash tip to the delivery driver, be sure to write in the total in the proper place on the receipt before you sign. Keep your receipts to check against your monthly statement.

• Take advantage of credit card verification services when available.

• Shred cards when they expire, or cut them through the account number so they can not be identified. 

• Beware of trial offers and limited-time discounts. They can become major surprises as the real price is billed or when a subscription renews automatically. 

• Don’t post information like date of birth, mother's maiden name, first pet's name etc on social media as those questions are often used to verify identity.

Be Wary & Be Safe

It has always been true that discretion is a way to avoid problems. In the digital age, caution about personal affairs is more vital than ever before. Most people know not to share their social security number and personal information publicly but also use a bit of restraint when discussing travel plans, locations, dates, and personal experiences. Being safe is more important than being visible. 

Fraud is all too common and often difficult to detect. Awareness is the best antidote, so resolve now to monitor and regularly review all your accounts and transactions consistently. Make it a habit - it's the best way to plan for a secure future.

Getting into the habit of checking your credit report will help you stay on track of any fraudulent charges. Obtain a free copy of your credit report at www.AnnualCreditReport.com from the major credit reporting agencies. Check them for accuracy and immediately report any discrepancies.

Genisys Credit Union members and their family members can count on identity protection services - at no additional cost. Powered by Identity Theft 911®, America's premier provider of identity services, these fraud-specialist services help detect and resolve identity theft and fraud. Contact us today for more information. 

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