Shield Up Best Practices Against Online Frauds

Every year, millions of consumers fall victim to cybercrime. According to the FBI’s Internet Crime Complaint Center, in 2015, consumers lost more than $1 billion from scams initiated through the web. In recognition of June Internet Safety Month, here are seven tips to help consumers protect themselves from online fraud. “The Internet has become one of the most popular tools used to commit fraud and criminals are becoming more and more sophisticated with their hacking techniques,” said Kathy Koestner, Vice President of Information Security. “As a result, it’s extremely important for consumers to use only trusted secured wireless networks when completing their financial transactions and understand all personal information shared online can be used by fraudsters to commit online fraud.” Keep your computers and mobile devices up to date. Having the latest security software, web browser, and operating system are the best defenses against viruses, malware, and other online threats. Turn on automatic updates so you receive the newest fixes as they become available. Set strong passwords. A strong password is at least eight characters in length and includes a mix of upper and lowercase letters, numbers, and special characters. Watch out for phishing scams. Phishing scams use fraudulent emails and websites to trick users into disclosing private account or login information. Do not click on links or open any attachments or pop-up screens from sources you are not familiar with. Forward phishing emails to the Federal Trade Commission (FTC) at [email protected] – and to the company, bank, or organization impersonated in the email. Keep personal information personal. Hackers can use social media profiles to figure out your passwords and answer those security questions in the password reset tools. Lock down your privacy settings and avoid posting things like birthdays, addresses, mother’s maiden name, etc. Be wary of requests to connect from people you do not know. Secure your internet connection. Always protect your home wireless network with a password. When connecting to public Wi-Fi networks, be cautious about what information you are sending over it. Shop safely. Before shopping online, make sure the website uses secure technology. When you are at the checkout screen, verify that the web address begins with https. Also, check to see if a tiny locked padlock symbol appears on the page. Read the site’s privacy policies. Though long and complex, privacy policies tell you how the site protects the personal information it collects. If you don’t see or understand a site’s privacy policy, consider doing business elsewhere. How can we be safe from banking frauds? Monitor bills and bank statements frequently. Immediately report any suspected fraudulent transactions to the holder of your account, such as your bank or credit card company. Store canceled checks, new checks and account statements in a safe place. How do I get over being scammed online? Here are some suggestions: Accept the emotions. Take another look at that list above. ... Find your best supportive family members and friends. ... Self care. ... Monitor and change your thinking. ... Ask for help when you need it. ... Listen and empathize without judgment. ... Don't say… Remind them this does not mean they are stupid. What happens after I get scammed? If you've handed over financial information or given money to a scammer, call your bank, credit card company, payment app or other financial institution. Many banks and cards will cover scams and return lost money, so ask them for a refund or to reverse the transaction. Why fraud prevention matters for enterprise The new business landscape presents new challenges: How do you achieve digital growth while meeting customers' expectations? And how vulnerable is your company to fraud as it grows digitally? Ever-increasing in sophistication, fraud and cyber attacks are taking advantage of enterprise vulnerabilities, causing lots of damage to businesses like yours. On average, cybercriminals steal 33 billion personal data records and cause USD 6 trillion in damages annually. And, yes, you might have some tools and apps to help, but existing fraud detection software are complex, customized and don't integrate well with one another. Some organizations can use up to 85 tools from up to 40 vendors, increasing your IT stack's complexity and giving you too much data to handle.