By: Kristen Spence, MSA, CFE – Hungerford Nichols Fraud & Litigation Team Manager
Cyber Security is a challenging area that merits continued attention. We saw a significant increase in cyber fraud, real-time payment fraud, and other monetary fraud schemes as a result of COVID-19 impacting economies world-wide in 2020. Frauds surrounding the digital exchange of funds are projected to continue to grow. Below are a few tips to help you stay safe and navigate the waters during these ever-changing times.
Shopping Online: Tips to keeping you safe
Double check all websites you are on before entering a credit or debit card number or any personal information.
Be aware of differences in url’s, especially in banking, student loan, medical, and tax websites.
Simple changes in url’s such as a space, dash, underscore, capitalization, or one missing letter likely indicates a fraudulent website.
If something doesn’t seem right with your login process, STOP and contact the organization you are trying to reach to verify any login process changes by way of a known email or telephone number. Often, a Financial Institution will have a phone number listed on the back of their issued credit card.
Types of Protective Credit Cards
EMV Chip Credit Cards
Contactless Credit Cards – Near-Field Communication (NFC)
Virtual Account Numbers (VAN’s) and Card Verification Value 2 (CVV2)
Tokenization: The Way of the Future?
Implementing a few easy steps as you financially move throughout your day could help prevent fraudsters from reaching your accounts, your identity, and having an impact on your financial future.
STOP. THINK. OBSERVE. THEN ACT.
Contact our team at Hungerford Nichols CPAs + Advisors if you have questions.