Market Insider By Edited by John Stokes 1032 Views

Three simple ways to keep your money safe

(NC) Whether you’re 16 or 65, it can seem like many of us are facing more attempted fraud than ever before.

In fact, according to a 2022 RBC survey, almost half of respondents say they have been increasingly targeted by fraudsters since the start of the pandemic.

The simplest ways to help prevent fraud are to stay in the know about your money and to spot the signs of fraud early. Here are three bank-approved tips to do just that:

  1. Use alerts to spot suspicious activity
    Make sure you know how your bank will notify you if there’s a suspicious transaction made through your account. This may include fraud alerts that notify you if there is an unusual transaction via e-transfer or credit card. Your bank may also provide alerts that notify you when your account balance drops below a certain threshold or a large purchase is made on your credit card.
  2. Stay close to your money
    Knowing exactly what your money is doing - or at least what it should be doing - is an important way to fight fraud. After all, being able to immediately spot a transaction that doesn’t look right can help you react sooner. In addition to checking in on your money regularly, see what digital tools your bank offers that will keep you up to date automatically.
  3. Connect with your bank
    If you do notice something suspicious with your account, or you received an unusual text, phone call or email that’s left you feeling uneasy, protect yourself by notifying your bank immediately. By changing your PIN and password you can potentially avoid or limit your exposure.

When it comes to protecting yourself against fraud, education is key. Learn more at rbc.com/privacysecurity.



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