Protect Yourself Against Fraud – Milwaukee Courier Weekly Newspaper
These steps can help protect your money and your information. How a simple email or text can open the door to fraud.
The pandemic has accelerated identity theft – and the impact on ordinary people is significant. In fact, Americans have lost more than $ 382 million to scams related to stimulus checks and unemployment benefits, bogus treatment for COVID-19 and more, according to the Federal Trade Commission.
Worse yet, black and Latin consumers are more likely to be victims of fraud than their white counterparts. This is why it is crucial to recognize activities designed to steal your hard earned money.
JPMorgan Chase is available to help consumers learn how to spot suspicious activity, from fake emails and texts to false claims about how to stay healthy. We sat down with Jerry johnson, Chase Community Manager in Milwaukee, for some frequently asked questions (FAQs) and to discuss tips and best practices for securing a better financial future.
FAQ: What should consumers look for when it comes to scammers?
JERRY: Let’s start with emails and texts. Phishing is the fancy name for emails claiming to be from reputable companies, including banks. They actually come from criminals trying to get your personal information, such as passwords and credit card numbers.
The email may ask you to reply or click a link that takes you to a website that looks like your bank’s site. Then they will ask you to provide your username, password, account number, personal identification number (PIN), social security number, or other personal information. Additionally, if you click on any attachment to that email, it may download software called malware that tracks or steals your information.
So, be very careful when clicking on a link in an email; instead, go directly to the company’s website. And only click on attachments if you’re sure they’re from someone you know and trust.
Crooks are increasingly starting to contact victims via text or phone, most often from a number you don’t recognize, and tell you there is something wrong with your bank account, including it is closed, frozen or will be terminated unless you call a phone number or go to a website indicated in the message and provide your personal and / or account information.
FAQ: Are there specific signs to look for?
JERRY: Yes, here are some foolproof:
• Scammers will often tell you that there is a problem or a price. They might say that you have issues with the government, that you owe money, that a family member has an emergency, that there is an issue with your account, or that you have made money. at the lottery. Remember, if it sounds too good to be true, it probably is.
• After fixing the problem or the price, the crooks will push you to act immediately. They want you to give them your sensitive information before you have time to think it over. They might threaten you, emphasize a sense of urgency, or say time is running out. However, no legitimate business or government agency will pressure you in this way or ask for your personal information, such as your social security number, bank account, or credit card numbers over the phone or email.
FAQ: How can consumers protect their money and information?
JERRY: Here are some good practices:
• Protect your information online. Download and update antivirus software for your computer, and do not enter sensitive information into public computers or over unsecured networks. Also, be careful not to divulge your financial username and passwords on the internet – this includes financial websites and apps that offer tools to help you manage your accounts, invest, or prepare your taxes.
• Make purchases only on secure websites. Look for a padlock symbol in a website address. This will help protect your credit card number, expiration date, and three-digit CVV.
• Change your passwords often. Change your passwords frequently and use a combination of letters, numbers and special characters. Do not use your pet’s name, your child’s name, or anything else that could be easily discovered.
• Create a separate password for each financial institution. This provides an additional level of protection in the event of a problem in an institution.
• Monitor your accounts. Log into your accounts frequently, even daily, through online banking or your mobile banking app to monitor your transactions and account balance. Look for transactions that you don’t recognize. Also consult your monthly statements and in case of problem, contact your bank immediately.
• Configure additional confirmation. The proper name is two-factor or multi-factor authentication. It just means that you will need to take an additional step or two to access your information. For example, this could be requesting that an SMS with a code be sent to the cell phone number you gave the company before. At Chase, when you log into your Chase account for the first time electronically or with a device that we do not recognize, we will ask for your username, password, and a temporary identification code. And we will send it to you by phone, email or SMS.
• Destroy sensitive documents. Destroy banking records, checks you deposited through mobile banking, and other documents containing your account information. Keep monthly chequing and savings account statements in a safe place until you file your income tax returns, and then destroy them as well. Chase and other banks offer paperless statements, allowing you to view information online without having to worry about paper.
• Check your credit report. At least once a year, read your credit reports carefully. You can request a free annual credit report from each of the three national credit reporting agencies, even if you don’t suspect any unauthorized activity on your account. Visit www.annualcreditreport.com.
FAQ: How does Chase protect customers against fraud?
JERRY: We see it as a partnership; we help protect your accounts and information, and you too. We monitor all of our accounts around the clock, including using security measures that you cannot see.
Plus, if we find or report a transaction you didn’t authorize, we offer zero liability protection, which means you won’t be held responsible for it.
Visit your nearest Chase branch to learn more about JPMorgan Chase’s commitment to customer safety through our fraud prevention and protection tools. We look forward to working with you.
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