5 Ways to Prevent Digital Fraud

Since more and more of our daily activities are going online, it has become vital that we take measures to protect ourselves from digital fraud. Scammers can target anyone from kids to retirees and even small businesses.

March is fraud prevention month in Canada and we would like to highlight some simple steps you can take to stay safe online.

1. Shred Documents

If you’re getting rid of any documents, make sure that they don’t have personal information like your name, address, birth date, account number etc. If they do, shred them. This is one of the ways fraudsters can get access to and manipulate your personal information for their own gains.

2. Use Strong Passwords

Commonly used and simple passwords give fraudsters the opportunity to access your accounts. Prevent this by using unique and strong passwords for each of your accounts. There are many password managing apps that can help you create and store strong passwords for all of your accounts.

Regularly changing your passwords also keeps your online presence secure.

3. Screen your Calls

Scammers will actually call and even text you to get the information they need. You can prevent this by screening your calls. Avoid picking up calls from numbers you don’t recognize and don’t share any information except with contacts you trust.

4. Know your Credit Score

Knowing your credit score can also prevent you from becoming a victim of online fraud.

If you don’t know your credit score, you can request a report from TransUnion Canada or Equifax. Credit monitoring services can also monitor your score especially when you’re shopping online.

5. Review Bank Transactions

Setup email alerts for your bank transactions and credit cards and review all your transactions at least once a month.

You’ll be able to spot any suspicious activity and stay on top of your monthly budget.

Feel free to contact us if you have any queries or questions.   

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