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We know that strong financial literacy is key to making informed decisions about money.
We know that strong financial literacy is key to making informed decisions about money.
Fraudsters have more ways than ever to target your money and personal information. That's why during March's Fraud Prevention Month, FirstOntario is focusing on giving you tools to protect yourself from fraud and identity theft. We'll spend the month highlighting some of the more recent scams you need to be aware of, and we'll provide tips to help you avoid becoming a victim.
To avoid falling victim to fraud, you first have to identify it.
This may sound simple but can be challenging with criminals constantly looking for ways to steal your information and your money – a trend that has been accelerated by improvements in technology. With these constant threats to your personal information, it is important to take steps to protect yourself.
One way criminals try to access your money and personal information is by stealing your debit card or debit card information. Since these cards are protected by a computer chip, fraudsters use different methods to try and gain access to your PIN and circumvent this protection.
Tactics such as shoulder surfing (criminals steal your PIN by spying over your shoulder) could get you to unwittingly reveal your private information.
Even with protections in place, fraudsters are still coming up with new and unique ways to evade online safety measures.
One of the most effective measures we have is 2-Step Verification (2SV) because it doesn’t allow criminals access to your accounts even if your password becomes compromised. Because it’s so effective, scammers will often impersonate a victim’s financial institution or service provider and try to steal or trick them into revealing the one-time password (OTP) to get around it.
Often, fraudsters and scammers prey on our better nature when they try and take advantage of our care and generosity for others. One way they do this is through emergency scams.
These are types of fraud where criminals use phone calls, texts, social media messages and emails to impersonate a target's friend or family member in distress to trick them into urgently sending money or private information.
At FirstOntario Credit Union, your information security is our top priority. There are some ways you can help ensure even greater security when accessing online account services:
The internet has changed the way financial institutions do business. Online accounts provide convenient access to your financial information and the ability to perform transactions from home or work locations.
It is important to ensure you always access your accounts from a secure computer using your unique password. Inadequate computer protection can lead to malware infections or unauthorized remote access.
What we do to protect your information in online banking.
Everything you can do to protect yourself while using the internet and banking online.
Please Note: FirstOntario Credit Union has provided this information as high level guidance only. If you require additional details, please utilize the many resources available on the internet by searching the term you are looking to further understand.
All reports related to fraud that are connected to a financial loss will be thoroughly investigated by FirstOntario.
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