For Immediate Release
June 6, 2016
ABA Media Contact: John Hall
(202) 663-5473
Email: jhall@aba.com
Follow us on Twitter: @ABABankers

7 Ways to Avoid Online Fraud

​WASHINGTON — Internet fraud continues to be a growing problem in the U.S. According to the FBI’s Internet Crime Complaint Center, in 2014, the agency received approximately 270,000 complaints from consumers who were exposed to online fraud up from nearly 263,000 in 2013. In recognition of Internet Safety Month in June, the American Bankers Association is offering seven tips to help online users safely navigate the web while averting online threats.
 
“Fraudsters are using every tool, resource and tactic imaginable to get a hold of your personal information,” said Doug Johnson, ABA’s senior vice president of payments and cybersecurity policy. “As you navigate the web, it’s extremely important that you safeguard your personal information by developing stronger network passwords and ensuring that your online security software is up to date.”
 
 ABA recommends the following tips to keep you safe online:
  • Keep your computers and mobile devices up to date.  Having the latest security software, web browser, and operating system are the best defenses against viruses, malware, and other online threats. Turn on automatic updates so you receive the newest fixes as they become available.

  •  Set strong passwords. A strong password is at least eight characters in length and includes a mix of upper and lowercase letters, numbers, and special characters.

  •  Watch out for phishing scams. Phishing scams use fraudulent emails and websites to trick users into disclosing private account or login information. Do not click on links or open any attachments or pop-up screens from sources you are not familiar with. Forward phishing emails to the Federal Trade Commission (FTC) at spam@uce.gov – and to the company, bank, or organization impersonated in the email.

  • Keep personal information personal. Hackers can use social media profiles to figure out your passwords and answer those security questions in the password reset tools. Lock down your privacy settings and avoid posting things like birthdays, addresses, mother’s maiden name, etc.  Be wary of requests to connect from people you do not know.
  • Secure your internet connection. Always protect your home wireless network with a password. When connecting to public Wi-Fi networks, be cautious about what information you are sending over it.

  • Shop safely. Before shopping online, make sure the website uses secure technology. When you are at the checkout screen, verify that the web address begins with https. Also, check to see if a tiny locked padlock symbol appears on the page.

  • Read the site’s privacy policies. Though long and complex, privacy policies tell you how the site protects the personal information it collects. If you don’t see or understand a site’s privacy policy, consider doing business elsewhere.
The American Bankers Association is the voice of the nation’s $16 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $12 trillion in deposits and extend more than $8 trillion in loans.
 
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