Friday, July 31, 2020

Five Useful Tips That will Foil Any Bank Scam Attempts

Recently, there has been a growing number of bank scam victims.  Most bank scams are hard to trace and prosecute. So, the victim ended up losing his hard-earned money to the fraudster. 

I am sure we do not want to be in that position.  So, let us be smarter than scammers.  Knowing how to deal with the early signs of bank scams will save us from risking our fortune.

In this post, I will present some useful tips that will immediately foil fraudster from making his first move.

Tips to Avoid Being Scammed

1.  Do not open any suspicious email or link.

Scammers will trick you to believe that there are unauthorized activities in your bank account by sending you an email to verify your account.  Do not open the link.  It will open to a fake website and will get your bank credentials.

2.  Ignore calls or text messages from untrusted callers or senders.

Do not entertain people you do not know, who are asking your personal information over the phone.

3.  Enroll your account for online banking.

Online banking makes it easier for you to access your account, 24/7,  to regularly monitor your account's transaction/s.

 4.  Do not lose your phone.

Your phone can be an avenue for fraudsters to access your account.  Always sign out after accessing your bank's online banking system or never write any password on your phone.

5.  Transact with reputable online sellers.

When making online purchase, keep an eye for fake accounts copying the names and photos of a real online shop. Whenever applicable, pay in cash upon delivery of the item to avoid disclosure of your credit card information.

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How to know if you are dealing with a scammer?

Remember that your bank will NEVER ask your account credentials via phone call, text, or email.

So the tell-tale sign of a scam is when someone asks your username, passwords, account number or One-Time Password (OTP), etc.

Consider this:  your banking credentials are the only means to access your account and giving this information to scammers is just like permitting them to rob your money.

Following the tips above may help you deal with scammers and will keep your hard-earned money tucked safely inside the bank's vault.

Do you have any tips about beating bank scammers?  If you do, please comment them down below.  I am sure a lot of us will find it useful.

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  1. Very Informative.
    These days scams have increased due to covid-19.
    The tips you shared will be really helpful for us to secure our bank account.

    Thanks for Sharing.

  2. It is scary how careful we have to be to avoid being scammed. Thank you for such valuable information!

  3. Phishing for credit cards has been one of the most frequent scams and I am glad that you have pointed out all the ways to prevent such scams!

  4. Great article and very informative! It's very important to be very cautious at all times.


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