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Tips on how to prevent yourself from online bank frauds

Technology advancement has both merits and demerits. For instance, when it comes to banking and financial institutions, there have been many cases of their customers being scammed. Fraud and scams can happen to anybody at any time and it is upon each and every individual to take proper care of the financial documents. The banks advise that these documents should be strictly private and confidential and only released to the legal account holders.

There are any cases that people across the world have received an email or message related to their financial details. It is very important to take great care and if you are unsure of what to do about it, you should seek advice from your bank. Better still it is recommended that you should ignore such messages. As technology advances and changes the way the business is carried out, there is a rise in the number of new ways of frauds.

In addition to banks and other financial institutions using https://www.ptsecurity.com/ww-en/products/af/ to monitor the online security of all their clients’ accounts, below are some of the major tips that can help in protecting yourself from potential fraud and scams.

  1. You ought to regularly change your passwords and pins

According to the financial security experts, you should change your online banking passwords and credit/debit card pins twice a year. This is a safety measure even if there is no unusual activity in the account. When creating a password, it should be one that would be hard to guess. For instance, it can include a capital and small letter, a few numbers and symbols. These would make a very strong password.

  1. Your financial information should always be kept private and confidential.

The financial information is intended for only the account holder. You, as the account holder should never disclose any information that may jeopardize your accounts. You should never disclose the credit and debit card information and neither should you talk about such and any other related information over the phone or internet even if it is from the bank. Instead, you ought to personally visit the bank branch in case of an alarming issue.

  1. Advise your bank to give you regular reports on your account standing.

There have been a lot of cases of identity theft and it has been used to apply for loans and credit cards. For this reason it is advisable that you should order annual, half-yearly or quarterly reports to ensure that the information and the account activity is correct.

Above are not the only safety measures. There are so many and it is recommended that you should as well seek advice from the financial security experts on ways to protect yourself from fraudsters.

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