Financial scammers are getting smarter every day, using new technology and tactics to steal your money and personal information. For a deeper dive, check out our Fraud Protection Guide.
The good news? You have the power to stay one step ahead by learning their methods and building strong protective habits.
Essential protection strategies for 2026
Building strong security habits is your best defense against fraud. Here are the most effective steps you can take:
1. Strengthen your password security
Create unique passwords for every account using a combination of uppercase and lowercase letters, numbers, and symbols. Avoid personal information like birthdays or pet names that scammers can easily guess. Consider using a password manager to securely store and generate strong passwords.
2. Enable two-factor authentication (2FA)
Add an extra layer of protection by requiring a second verification step, like a code sent to your phone. Even if someone steals your password, they can’t access your account without this additional security measure. Enable two-factor authentication on all financial, email, and social media accounts.
3. Monitor your accounts actively
Check your bank and credit card statements weekly for unauthorized transactions. Scammers often test stolen information with small purchases before making larger ones. Set up real-time transaction alerts to catch suspicious activity immediately.
4. Verify all unexpected contact
Be cautious of any unsolicited calls, texts, or emails requesting sensitive information. Legitimate organizations won’t pressure you to act immediately or threaten consequences. Take time to verify requests through official channels before responding.
5. Guard your personal information
Treat your personal details like cash. Be mindful of what you share on social media, as scammers use this information to answer security questions or impersonate you. Consider making your profiles private and limiting the personal details you post publicly.
Recognizing legitimate communications
Knowing how to identify real messages from your financial institution can help you avoid imposters.
Signs of authentic bank communications
- Typically include your name and partial account information
- Use professional, error-free language
- Provide legitimate contact information you can verify
- Never request passwords or PINs through unsolicited messages
Warning signs of fraud
- Urgent threats or promises designed to create panic
- Requests for complete passwords or security codes
- Calls or texts from unfamiliar numbers
- Messages asking you to keep the conversation secret
What to do if you’re targeted
If you suspect you’ve encountered fraud or accidentally shared sensitive information, act quickly:
- Contact your bank immediately using the official phone number on its website or on the back of your card.
- Report the incident to your local police and the Federal Trade Commission (FTC) at Consumer.ftc.gov.
- Place a fraud alert with the three major credit bureaus: Equifax, Experian, and TransUnion.
- Monitor your accounts closely for any unauthorized activity.
- Change passwords for any potentially compromised accounts.
Steps to take if your identity is stolen
If criminals have successfully stolen your identity:
- Notify all affected banks and creditors
- Place fraud alerts and consider a credit freeze
- File complaints with the FTC and the FBI’s Internet Crime Complaint Center
- Report identity theft to ChexSystems or call 888-478-6536
- File a police report in your local jurisdiction
- Update all affected account passwords
- Replace stolen identification documents
- Contact utility and phone companies if needed
Building long-term financial security
Protecting yourself from fraud is an ongoing process that requires staying informed about new threats and maintaining good security habits. Visit our Account Security & Protection resources regularly to learn about emerging fraud trends and get additional tips for safeguarding your financial information.
Remember: if something feels wrong, trust your instincts. It’s always better to verify a suspicious request than to risk your financial security. We’re here to support you every step of the way in protecting what matters most to you.
