Fraud Defense Starts With Awareness | How to Protect Yourself and Your Financial Accounts
CHRISTINA SCHMITT | Chief Operating Officer | Envista Federal Credit Union
Convenience can sometimes come at a cost, especially as it relates to fraud. From phishing emails to social engineering scams, fraudsters are constantly evolving their tactics, finding new ways to access your personal information and financial accounts. At Envista, we believe fraud prevention starts with awareness. That’s why we’re committed to educating our members and our community on how to stay vigilant, informed and protected.
FRAUD IS MORE COMMON THAN YOU THINK
Fraud isn’t something that just happens to other people. It’s a growing threat that affects individuals and businesses across all industries. In fact, one in four people will experience some form of financial fraud in their lifetime. And with advances in technology, fraud is no longer limited to stolen credit cards or forged checks. It can happen through a quick text message, a suspicious link or even a phone call that seems completely legitimate.
Cybercriminals have become more sophisticated. They often impersonate trusted sources, like your financial institution, employer or even a family member, to gain access to sensitive information. That’s why education and awareness are your most powerful defenses.
KNOW THE RED FLAGS OF FRAUD
The first step to fraud defense is knowing what to look for. Whether you’re receiving a phone call, email or text, take caution if you notice any of the following red flags:
They use urgent or fear-inducing language.
They request your information like one-time codes, login IDs, passwords and social security numbers.
They ask you to click on a link.
They use misspelled words or odd grammar.
They use spoofed phone numbers or email addresses to mimic financial institutions.
Someone you don’t know is asking you to purchase gift cards, send a wire, purchase Bitcoin, etc.
You’re being asked to reinvest your money in Bitcoin or send money elsewhere due to a “compromised account.”
Someone is coaching you to withdraw cash or tell your bank or financial institution false information.
If something feels off, it probably is. Trust your instincts and verify before you respond.
HOW TO PROTECT YOUR FINANCIAL ACCOUNTS
At Envista, we take account security seriously, but your vigilance plays a vital role. Here are proactive steps you can take to protect your financial accounts:
USE STRONG, UNIQUE PASSWORDS
Create complex passwords for each account, especially your online banking credentials. Avoid using easily guessed information like birthdays or pet names. Better yet, use a password manager to store and generate secure passwords.
ENABLE TWO-FACTOR AUTHENTICATION
Whenever available, enable two-factor authentication (2FA) on your financial accounts. This extra layer of security requires you to confirm your identity using a secondary device or code, making it much harder for someone else to gain access, even if they have your password.
MONITOR YOUR ACCOUNTS REGULARLY
Make it a habit to check your account activity often. Look for unfamiliar transactions, even small ones — scammers will often test a stolen card with a small purchase before going big.
SET UP ACCOUNT ALERTS
Most financial institutions, including Envista, offer customizable account alerts via text or email. These real-time notifications can alert you to withdrawals, purchases or balance changes, allowing you to act quickly if something’s wrong.
BE CAUTIOUS WITH PUBLIC WI-FI
Avoid logging into financial accounts on public Wi-Fi networks. These networks are often unsecured, making it easier for hackers to intercept your data. Use a virtual private network (VPN) service if you need to access sensitive information while on the go.
KEEP YOUR DEVICES SECURE
Always install updates and patches on your devices. These updates often fix known vulnerabilities that fraudsters exploit. Use antivirus and firewall protection and avoid downloading apps from unknown sources.
SCAMS ARE GETTING PERSONAL, AND SO SHOULD YOUR DEFENSE
Today’s fraud schemes go beyond generic spam. Criminals are using data breaches and social media to tailor scams specifically to you. You might receive an email that includes your name, references your employer or even contains real information scraped from your public profiles.
This type of scam is called social engineering, and it is designed to lower your defenses. It’s why it’s more important than ever to pause and verify before clicking a link, sharing information or downloading an attachment.
WHAT TO DO IF YOU SUSPECT FRAUD
If you think you’ve been targeted by a scam or notice suspicious activity on your account, act fast:•Contact your financial institution immediately.
Lock your debit or credit card (Envista members can do this easily through our app).
File a report with the Federal Trade Commission (FTC) at reportfraud.ftc.gov.
Change your passwords and review other accounts that may have been affected.
Remember, time is critical. Early action can help limit the damage and make recovery easier.
ENVISTA’S COMMITMENT TO FRAUD DEFENSE
Fraud prevention is a shared responsibility. At Envista, we’re committed to empowering you with the tools and education you need to stay protected. Our Fraud Defense Center offers a robust library of videos, checklists and expert advice to help you recognize, avoid and respond to fraud threats. Make sure to check it out at envistafrauddefense.com.
Whether you’re a small business owner managing sensitive customer data or a consumer protecting your personal accounts, our resources are designed to help you stay one step ahead of scammers. We also host Fraud 101 events throughout the year to provide in-person education and community awareness, because we believe financial confidence comes from being informed.
TOGETHER, WE’RE STRONGER
Fraud is constantly evolving, but so is our commitment to protecting our members. As fraudsters get smarter, so must we. When you stay informed, ask questions and use the tools available to you, you take control of your financial future.
