The Dos and Don’ts of Fraud Protection

No one expects to fall for a scam, but the truth is that anyone can become a victim. In 2024 alone, consumers reported losing over $12.5 billion to fraud. Scammers don’t discriminate — in fact, they cast a wide net to try and trick anyone they can.

The good news? Making a few simple changes to your everyday habits can help you safeguard your personal and financial information and make it harder for scammers to target you.

Take a look at these “dos and don’ts” of fraud protection:

Do: Change Your Passwords Regularly

One of the first lines of defense against online fraud is having a strong, secure password.

• Make it a habit to update your passwords regularly.
• Avoid using the same password for multiple accounts.
• Use a unique combination of upper and lower case letters, numbers and symbol.
• Consider using a passphrase for a strong, but easier to remember security credential.
• Download a password manager app to keep track of your passwords.
• Enable multi-factor authentication whenever possible.

Don’t: Overshare on Social Media

It’s fun to share life moments on social media, but be careful — sharing too much can open the door to fraud, scams and theft.

• Avoid posting personal information such as your address, workplace, kids’ schools, birthdates, email address and other identifying information on public platforms.
• Wait to post vacation photos until after you return to avoid alerting criminals that your home or car is unattended.
• Don’t accept friend requests from people you don’t know personally.
• Never send anyone your personal or financial information over social media.
• Check your security and privacy settings periodically.

Do: Set Up Account Alerts

Staying on top of your account activity is one of the best ways to spot fraud fast. Get into the habit of logging in to check your accounts regularly. You can also set up account alerts within Wright-Patt Credit Union®’s (WPCU®) Mobile and Online Banking to receive text or email notifications about your account activity.

Don’t: Trust Caller ID

Fraudsters can “spoof” Caller ID to make it look like a call is coming from your financial institution or another trusted source. Don’t take Caller ID at face value. Remember, WPCU will NEVER text, call, or email you out of the blue asking for your passwords, PIN or personal/account information. That’s something scammers do.

Do: Check Your Credit Reports

Another way to catch fraud early is by keeping a close eye on your credit. Review your credit reports from each of the three credit bureaus (TransUnion, Experian and Equifax) and look for unfamiliar accounts, incorrect information or suspicious activity. The sooner you spot fraud, the sooner you can take steps to correct it.

Don’t: Click Before Thinking

Scammers often send phishing emails, texts or social media messages with links designed to steal your information or install malware on your device. The message may sound urgent or threatening to trick you into clicking before you think it through.

• Pause! Take your time to read the entire message carefully.
• Look for grammatical errors or misspelled words in the message.
• Double-check the sender address. Scammers may use email addresses that look similar to authentic sources but include extra characters, typos or an alternate domain such as “.net” instead of “.com”
• On a computer, hover over hyperlinks to see where they really lead.
• When in doubt, type the website directly into your browser instead of clicking a link.

Stay One Step Ahead of the Scammers

Fraud can happen to anyone, but with extra awareness and some smart habits, you can make yourself a harder target for scammers.

At WPCU, we take a proactive approach to fraud prevention. If you notice a fraudster impersonating WPCU, please let us know. Reporting fraud attempts and sharing examples helps us warn and protect other members, too!

To stay informed on the latest scams, please visit our Fraud Prevention page. We’re With You! ​