Financial fraud and scams have increased dramatically over the last few years. According to the FBI, Missourians reported $123.4 million in fraud losses in 2023. Criminals are becoming more sophisticated, and their tactics change frequently to evade law enforcement. It seems as soon as we learn how to avoid one scam, a new one takes its place.

 

Here are some simple steps you can take to help protect your personal information and your money.

• Turn on notifications of suspicious activity.
  This service is available on many bank and credit card accounts. You can receive alerts for potentially fraudulent transactions like high-dollar withdrawals or out-of-state purchases. Contact your bank to learn what they offer.
   
• Update your passwords.
  Use passwords at least 16 characters long with a variety of letters, numbers and special characters. Avoid complete words or number sequences like “123” which are easier for cybercriminals to guess. Do not use the same password on more than one account. To create strong, unique passwords for each of your accounts, consider using a password manager. 
   
• Never share your personal information.
  Banks will never contact you to ask for your sensitive information. Look for red flags in calls, texts and emails like out-of-state phone numbers, unexpected links or attachments, or urgent requests for your login information or social security number. Do not open unexpected links or attachments. If you receive a message asking for this information, do not reply or click “unsubscribe.” Instead, block and report phone numbers and email addresses that send phishing messages. 
   
• Avoid mailing checks.
  Instead make payments in person or through secure online bill-pay platforms. If you must mail a check, use a black gel ink pen and fill in every line to deter scammers from altering your information. Put it in a security envelope or wrap it in a piece of paper before placing it in an envelope. Drop it off inside the post office, not in an outdoor mailbox.
   
• Stay aware.
  Visit the American Bankers Association to learn more about keeping your money safe. You can also sign up for email alerts from the Better Business Bureau or the Federal Trade Commission to learn about the newest fraud trends.