Fraud Prevention

Fraud is present in every aspect of our lives. To protect yourself, you must take steps to deter, detect then mitigate these activities against you. Below are some best practices along with some Money IQ videos that cover various aspects of fraud and how to protect yourself.

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Password Best Practices

Never share a password or personal identification number.

Choose secure passwords. People trying to crack a password will try common information such as telephone number, birthday, address, etc. Passwords that mix random letters, digits, and punctuation are harder for people and programs to crack.

Some characteristics of a strong password are:

It’s easy to remember. Don’t pick a password that you will have difficulty remembering.
You don’t have to write it down. Again, if you need to write it down because you have trouble remembering it then you need to choose a different password.
You can type it quickly.
It’s a mix of apparently random letters and digits.

An easy way to form a secure password that you can remember is to think of a phrase, song, poem, or sentence and use the first letter from each word.For example:

"I have owned my dog for 5 years" = Ihomdf5y

There are also specific things you should avoid when choosing a password, including the following:

Words from a dictionary (including foreign language dictionaries) or a word from a dictionary preceded or followed by a single character. For example, "Firecracker2" is not a secure password.
Names of any kind, including your login name, your first or last name in any form, or your spouse or child’s name. Pets name are a bad choice also, as are names of fictional characters.
Any kind of easily obtained information. This includes your phone number and your address.
Simple keyboard patterns such as "12345678". Generic patterns are easily guessed.
Well-known phrase mnemonics such as "ROYGBIV" (colors of the rainbow) or "WYSIWYG" (what you see is what you get) are easily guessed.

Secure Your Mobile Device

Keep your device up to date: Make sure your device’s operating system and applications are running the latest versions.
Use unique, strong passwords and multi-factor authentication
Only connect to secure Wi-Fi: Avoid public Wi-Fi
Back up your device regularly
Use the device provided access of security code, fingerprint, or face recognition to open the device.

Shield Yourself from a Phishing Attack

Never provide your personal information in response to an unsolicited request. This can come in the form of a phone call, email, internet page, or even a text message.
Contact the individual/business outside of the message that you receive. Find a valid number through a web search to contact the company.
Never provide your password or personal information such as your SSN or account number over the phone or in an email.
Review your account statements for banks and credit cards to verify that all transactions are valid.
If you fall victim, contact your financial institution or card provider.

ATM Safety Tips

Be aware of your surroundings, particularly at night. If you observe or sense suspicious activity, do not use the machine at that time. Choose well-lit ATMs and consider having a friend nearby if you visit one at night.
Have your card ready to use before approaching the ATM. Looking through bags or wallets for your card may distract you from your surroundings.
Visually inspect the ATM for possible skimming devices. Potential indicators can include sticky residue or adhesive used to affix a skimming device, damaged or crooked pieces, loose or extra attachments on the card slot, or noticeable resistance when pressing the keypad.
Shield your PIN number entry with your hand or body to prevent others from learning it.
Do not count or display money at the ATM. Immediately put the money in your pocket or bag and count it in a secure location.
At drive-up ATMs, be sure passenger windows are rolled up and all doors are locked.
If you park and walk up to an ATM, be sure to lock your car.

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