3 Easy Ways to Protect Yourself from Fraud

Attempts to steal your private and financial information can come in many different forms. They can be a phone call, a text message, an email, or even a DM from a “friend.”

While Honda Federal Credit Union is dedicated to ensuring your accounts are protected by updated, top-of-the-line security, the first line of defense against fraud is you.

Going over every method a fraudster might use would take quite a long time – but thankfully, you can use the same steps to protect yourself against most types of scams. Follow these three tips to significantly reduce your likelihood of becoming a victim of fraud!

1. Verify via other channels.

A friend messages you on social media out of the blue asking for a financial favor or to help them win a voting contest, which you can fulfill by clicking a link. You receive a text message that you have unpaid tolls, or there was a problem with a package delivery. Someone claiming to be from your bank calls you to go over some charges on your credit card.

All of these are examples of potential fraudsters attempting to steal your personal information. But they all have one thing in common: they’re posing as a source that you can easily verify by other means. They will also make the message sound urgent, so you’re less likely to take the time to double check.

No legitimate contact will get angry with you if you end the conversation and use a different method to verify the interaction. Message your friend on a different platform. Head to the package tracking website independently and manually input your tracking number. Hang up on your bank and call them back using their publicly listed phone number. Don’t feel pressured; you will always have time to verify.

2. Guard your passwords, PINs and passcodes.

This tip may seem like a no-brainer, but it’s always good to keep it in mind.

You can easily protect this information in a few ways:

- When using your debit card at an ATM or checkout, shield the keypad with your body or other hand as you enter your PIN to keep it safe from prying eyes or cameras.

- Choose strong, unique passwords for each financial account. Do not share them with anyone, not even us – we will never ask you for your password.

- If you receive a two-factor authentication code to log in to an account, never share it with anyone, especially if you did not prompt it yourself.

- Avoid clicking links in text messages and emails that ask you to log in. It’s likely to lead to a fake website that steals your login information – or worse, it could install malware on your device.

3. Trust your gut and get a second opinion.

Your instincts are usually pretty good, even if you can’t say exactly why a message or phone call feels off. Plus, if you’re still unsure, you can always get a second opinion from a trusted friend or family member.

Fraudsters sometimes get very aggressive, especially over the phone. They’ll try to make sure you don’t hang up or otherwise end the interaction before they have your private information. They may tell you that hanging up will have dire consequences – that if you don’t act now, you’ll be heavily fined or even jailed. This is almost never the case.

Pay attention to the red flags and trust your gut. It’s always better to be safe than sorry.

If you’re unsure whether a message you received is a scam or not, we’re always happy to talk with you. Our staff is well versed on common financial scams in all their forms, and we can help you determine the best way to respond to a situation. We are here for you!