You should monitor the transactions in your bank account. Checking the activity of your account is the most effective strategy for reducing bank fraud. In traditional banking, you should ensure that the checkbook is balancing. For online banking, ensure that you are regularly logging into your account and examining the activities. In case you spot any variations, you should report to the bank asap. Click here for more details about banking fraud.
You should use a very strong password or unique pin in case you are operating online banking. It is recommended that you avoid common names and numbers that the fraudsters are likely to guess with ease. These include your name, spouse’s name, social security number, birthdays, address, phone number, and others. Your password should be a combination of capital letters, small letters, numbers, and symbols.
Keeping your pin and password is key for the security of your money. Do not share them with anyone. Also, you should avoid writing them on a piece of paper. However, some applications can help you to securely store passwords and pin if you have many. It is recommended that you regularly change the password to be on the safe side. This is because someone might have seen it. Visit https://socialprotect.uk/pricing to get the best bank fraud security service provider.
Be careful with online activities. Do not share your bank information via email. If you receive emails with embedded links, do not click them. When you want to transact via an online bank, ensure that you do not get the link from the email. Instead, you should type it from your browser.
On your computer, make sure that you are using anti-virus to protect you. Also, there should be firewalls and spyware blockers. All these are going to make sure that you are not vulnerable to a fraud attack. When you are doing online banking, ensure a secure connection; the URL of the bank website should start with ‘’https’’. It is also not a good idea to use public computers or wifi for online banking.
Some applications can help you reduce fraud in your banking. One good example is Social Protect. These application uses a special algorithm to monitor your banking information. In the case there is suspicious activity in your account, you will receive a bank alert from your phone. The beauty of these applications is that they offer 24/7 bank monitoring. Although you will pay for this application, the benefits they will bring to you is substantial.
Check out this related post to get more enlightened on the topic: https://en.wikipedia.org/wiki/Department_of_Social_Protection.