Cyber Fraud Increasingly Common
With March as Fraud Awareness Month, the WFCU Credit Union has a few tips.
Steve Deneau - Vice President of Business Development - says more and more fraud is electronic.
He told AM800 listeners on the Afternoon News it's important to check your bank account daily.
Deneau says "spoofing" is one form of fraud where people think they're on their bank's website.
"You're conducting a financial transaction through your home banking product, your financial institution and somebody's intercepting your information, those types of things. There's all kinds, identity theft, hijacking somebody's credit so people generally need to be in a heightened state of awareness"
Deneau says the more complicated you make your passwords the better.
"It's not realistic to think you can fool-proof somebody with ill intentions all the time. But you obviously want to reduce the capability or the probability that somebody's going to hijack your information"
Deneau says you can set your account to notify you of activity.
"Account Alerts are notifications that are generated by all financial institutions when for instance somebody adds a quote unquote bill payment to your home banking product. When that happens I receive a text and if I've done it legitimately I'm OK"
Deneau says the credit union has launch a Fraud Prevention and Information program to address Cyber Fraud.