In today's tech-savvy world, managing your finances has never been easier. However, where there's convenience, be weary of the crooks and their crafty tactics.
Scammers are rapidly honing their skills and coming up with new tricks to keep up with the digital age. With just a few sneaky moves, they can trick you, copy your personal info, and sneak into your banking accounts, wreaking havoc along the way.
Tips to Secure Yourself Against Scams
Knowing how to identify financial scams is only half the battle. Here are some nifty tips to protect yourself with an extra layer of security:
Beef Up Your Online Defences
Create rock-solid, unique passwords for all your accounts by mixing in some capital letters, lowercase letters, numbers, and special characters. As an extra precaution, refrain from using your personal details when creating your passwords.
In case you need a refresher on crafting your own herculean password, we've got you covered in our content on strong passwords.
Be sure to activate two-factor authentication to create an extra layer of protection on your transactions and online banking accounts. Also, don't forget to keep your operating system, antivirus software and web browsers up to date.
Keep a Keen Eye on Your Accounts
The easiest way to protect yourself is by regularly monitoring your accounts. Keeping a close eye on your accounts can be your superhero move, enabling you to quickly identify and address any suspicious activities, and take immediate action.
Make it a habit to check your account statements and look out for any unfamiliar transactions, especially those that were not done by you.
Most banks send alerts that notify you of your account activity. If you spot anything suspicious, call your bank immediately.
Guard Your Physical Banking Information
While digital security is crucial, don't forget to also safeguard your physical banking information. Firstly, always be aware of your surroundings when using an ATM, and remember to cover the keypad from the view of others when entering your PIN.
As for your financial papers and documents? They are gold mines of sensitive information that crooks would love to get their hands on. So, make sure you keep them locked up tight, out of reach from both nosy parkers and unauthorised individuals.
When it's time to dispose of your documents, don't just throw them away. Make sure to shred them to prevent any possible misuse of your information.
Stay in the Know with Modern Scam Tactics
Educating yourself about the latest scam tactics cybercriminals use can give you the upper hand in securing your finances. Subscribe to reputable scam alert services and follow reliable news outlets reporting on scams. Knowledge, after all, is your best defence.
Stay Vigilant, Stay Secure: Your Role in Preventing Financial Scams
Adopting good online hygiene practices and staying vigilant is integral to ensuring your protection from scammers and criminals. While these scams may seem daunting, understanding how they work and being cautious can go a long way toward safeguarding your hard-earned money.
At CIMB, we not only strive to provide banking solutions but also prioritise equipping our customers with the knowledge and resources to protect themselves from potential risks.
For further insights on effectively managing your finances, explore the array of guides, tips, and financial advice we've compiled in our Life Goals section, specifically tailored to help you meet your financial aspirations.
This article is brought to you by CIMB as part of our ongoing efforts to raise the level of financial literacy among Malaysians. Financial knowledge and understanding are key to making well-informed and meaningful financial decisions towards positively improving welfare and well-being of communities. This is one of our many efforts to achieve CIMB’s purpose of advancing customers and society.