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8 Helpful Tips To Protect Yourself From Banking Fraud, Scams & More

We are pretty sure everyone has heard of banking fraud and how dangerous it is. If you haven’t heard of it, let us make it simple for you. There are several types of banking fraud and mainly it involves scammers and fraudsters using your payment cards or financial information for monetary benefits. 

This usually involves a scammer gaining access to your private information which can include your bank account number, social security numbers, address, name, and pin code. In many cases, scammers don’t actually require a physical card to commit fraud since they can easily commit fraud by hacking into your device or by phishing attacks. This article talks about tips to avoid these banking frauds. 


Banking fraud is very common and due to the advancements in technology, it is very easy for fraudsters and scammers to hack your device and gain access to all your financial details. Hacking has become very easy and banking fraud is on the rise. Thereby, you need to take some protective measures to avoid being scammed. 

This article discusses the eight ways by which you can secure your bank account and avoid any type of fraud. So let’s explore these eight ways and pray to god that we never get scammed by any hacker or fraudster.

Annual report 2020-21 which disclosed that in the last three years 22,864 banking frauds have been reported involving a gargantuan amount of over INR 3.95 trillion

If you’re someone who wants to protect your financial data, then you’re definitely at the right place. We can give you the best practices in identifying red flags as well as help you in recovering your stolen money from scammers!

Table of Contents

1. Safeguard your personal and financial information

online wallet

The number one tip I can give you based on personal experience is to safeguard your personal and financial information. Keep this information to yourself and watch over it like a hawk. The most important tip while doing this is to avoid sharing such sensitive information on emails, text messages, phone calls, or online. Hackers can easily hack into your database and if this information is available on your phone they can easily gain access to your private information and use that to make online purchases or worse open a card under your name without you having any idea of it.

Also, refrain from entering and saving your account information on random websites which aren’t secure. This makes it much easier for fraudsters to hack into the database and many times the website you’re entering information in might be a fake website. Thereby, the first step to protecting yourself and your bank account from any type of banking fraud is to secure your information. This includes personal information like name and address and financial information like account pin codes, CVV, or simply your account number.

2. Safeguard your passwords

user password

The second tip I’ll give you is associated with the previous one. Please for the love of God keep your passwords to yourself. This includes your account passwords, especially your account pin code and the password of your digital banking account. You need to refrain from storing them on your phone or in messages. It simply isn’t safe because if such privileged information is available on your phone you might as well give the hacker your card and mail it to them.

Therefore, there are several tactics to keep a strong password which include refraining from setting your birthday, random numbers, or generic passwords as your password. Keeping your birthday as your password can easily be guessed by someone who searches you up on any social media website since you’ve posted it. So please keep strong passwords and put fingerprint and facial recognition for all your online banking applications. It is best to avoid using passwords on online banking applications since facial recognition adds an extra layer of security. Moreover, avoid entering your pin code and password on unsecured internet websites since it makes fraud and scamming easier.

3. Beware of phishing attacks

guys using his laptop

The third tip is to beware of and avoid any type of phishing attacks. Phishing attacks are generally done by sending unsolicited emails claiming that you have won a prize and you need to mail your account details for the prize to be transferred. Phishing also takes place by sending third-party links and sending fake job opportunities to people who are looking for jobs. Phishing attacks have become so common and are yet another major reason that contributes to the increase in banking scams and frauds. Many phishing emails are directed to have you click on links that redirect you to websites that are apparently asking you to click on them to verify your email or your account.

In addition to this phishing might also take place by fraudsters sending you links that allow them to install a certain type of malicious software which is known as Malware into your laptop. This allows them to access your information. Since it’s clear how dangerous phishing is, it’s best to avoid clicking on any link which you get on emails. These links might seem real but the fraudsters are tricking you to have you click it and commit fraud. Hence, the key tip is to beware of any phishing attacks and avoid clicking on any such emails. You simply need to block and delete.


We have encountered victims who were mentally and emotionally drained when they were scammed out of their money. We can help you with your legal and technical concerns. We can help you get your money back.

4. Do not respond to any unsolicited phone calls, emails, or text messages

spam email

This tip is linked to phishing attacks since many hackers and fraudsters use emails, text messages, or phone calls to obtain your personal information. This involved them calling you and pretending to be either a proper company, a government agency or your bank and having you tell them your personal details because they are verifying it. The key tip I can give you is to block any such calls and ignore such messages. These fraudsters have become really good at making up stories to prey on innocent people.

Hence, avoid answering any such calls, and please avoid giving them any details on your personal information, especially your banking information. This is simply a trick that will end up in banking fraud and scams. So beware of any such unsolicited phone calls, emails, or messages and simply avoid these.

5. Go paperless

gpay online

Moreover, another tip is to go paperless which prevents your personal information from falling into the wrong hands. You can easily go paperless since it protects you from hackers. However, if you wish to store bank statements just keep them secure and safe to ensure that they do not fall into the wrong hands.  The best way to avoid getting your bank statements in the wrong hands is by going paperless and avoiding getting receipts.

If you’ve been a victim of banking scam you can contact us for support!

It is very common at ATMs for people to forget their receipts and this can be dangerous as well because it might fall into the hands of a fraudster. All bank documents and receipts should be stored safely if you aren’t willing to go paperless.

6. Use secure internet connections

security protection

Amongst the most important tips I can give you this is one of them. Hacking takes place when you use website and internet connections that aren’t secure and which can easily be accessed by the public. By using and entering your personal information on such unsecured public wifi connections you are exposing yourself to a number of hackers. This includes you exposing yourself to a wide range of hackers and fraudsters. You can easily risk yourself and your personal information. Cybercriminals such as internet scammers and fraudsters are always on the lookout for preying on innocent people who use such public networks.

These fraudsters can easily monitor all your activity and can gain access to your mobile phone, laptop and thereby all your financial information is compromised and it’s at the hands of such scammers. Therefore, it is crucial to have a secure private internet connection if you’re making a payment or if you’re entering your financial details. If you don’t do this then you have exposed yourself to a wide number of cybercriminals who can hack your entire system in minutes and can easily use your banking information to then make online purchases or transfer money to other accounts. Once your information is compromised the possibilities are endless so beware and always use a very secure private internet connection.

7. Monitor and check your banking accounts

This is yet another very important tip from a victim of banking fraud to everyone. It’s crucial to keep checking your banking accounts every other day if you can’t do it every day. You need to keep a close eye on your banking information and banking activity. This includes signing up for online digital banking since that’s the easiest way to go paperless and have all your banking records which include transactions in an application. Online banking makes life easier since you simply need to enter your password and account information and you can check your daily banking activities.

This ensures that no suspicious activity goes unnoticed and you can easily see any recent transaction. In addition to this, you can also set up banking alerts which are very helpful in protecting yourself from banking fraud.This is primarily because you can get alerts for every time you’re making a payment or whether there is any suspicious activity going on. This is crucial to protect yourself because you’re checking your account every day. If you notice any suspicious activity you can easily report it to your bank and to the respective federal agency.

8. Be alert and vigilant while using your card

credit card with laptop

The last tip I have for you guys is to be very alert and look left and right while you’re using your card. Banking fraud takes place when you’re inattentive to your surroundings. It has been reported countless times that banking fraud takes place because people, especially fraudsters, are observing people going into ATMs. If you go to a random ATM you are at a higher risk of banking fraud since fraudsters can easily use an ATM skimmer and commit fraud. 

In addition to this please avoid being clueless when you’re at a shopping mall or making a purchase. Make sure that the employee makes the transaction in front of you because if they go away they can easily note your account number, CVV, expiration date, and if they’re on top of your head they can note your pin code. So be sure to enter your pin code safely and ensure you’re covering it with your hand so that no one behind you or the employee himself sees it. 

Lastly, whenever you’re going to a restaurant be sure that you take your card and keep it safe because it can easily be stolen or lost. The key to protecting yourself is to be alert whilst you’re out because you never know who is observing you and waiting to gain access to your personal information. Learn more on how to protect yourself by visiting our website!

Are You Equipped To Stay Safe From Banking Fraud?

Now that we’ve covered the eight tips to avoiding banking fraud it is crucial for everyone to check their bank account right now to ensure that nothing suspicious is going on. The number one advice this article gives you is to check your bank account regularly. 

It is very common for you to forget your bank account and many people have not signed up for banking alerts which is very dangerous. In this day and age where banking fraud has become so common, it is crucial for everyone to take protective measures and take extra care of every little thing. This involves having an online banking application that is operated by your fingerprint or by facial recognition to ensure maximum security. 

In addition to this, it is important to sign up for daily banking alerts. This includes every single transaction that you’ve made or that anyone makes on your card in case it gets lost or stolen. This allows you to easily detect any fraudulent activity and report it to all the relevant authorities.

do you need help?

A lot of those who contact us have questions and concerns about their personal and business data being compromised. We aim to arm you with the legal and technical know-how in the fight against scams. Also, we will be able to refer you to top scam recovery agencies.

Please fill up the form. Rest assured that our support team will get in touch with you

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