4 Steps To Reduce Checking Account Fraud, According to Bank Teller
With the rise of online and mobile banking also comes an increase in cybercrime. According to the FBI, over $21 billion was lost to cyber criminals in 2025 alone. This means it's more crucial than ever to make sure you're protecting yourself and your money.
"I've talked to so many customers that can't tell me the last time they actually looked through their bank statement," said Nicole W., teller at Chase Bank. "They come in because they noticed an error in their account from months ago, but they're just now noticing something's wrong."
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Keep reading to learn what Nicole recommends to anyone utilizing online or mobile banking so they can keep their accounts safe.
1. Use a Strong Password
One of the worst things you can do is have a weak password. The last thing you want is to use a password like "111111" or "123456." This is going to make it much easier for criminals to gain access to your accounts.
"Use random passwords for each of your online accounts," Nicole said. "If possible, never use the same password for more than one account. I would also suggest making it as long and as strong as possible. Use lower- and uppercase letters, numbers and special characters."
If you're using different passwords for each online account, it can get difficult to remember each of them. Fortunately, there are several online password managers available. Nicole frequently recommends 1password.com to friends and family.
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2. Use Two-Factor Authentication
Even if you have a strong password, there's always a chance hackers can gain access. That's why many organizations use two-factor authentication. This adds an extra layer of security to your bank account.
"If you're offered the ability to use two-factor authentication, do so," said Nicole. "How this works is you will have your password as the first layer of defense, and then you will have a special code sent to your phone number. While someone may be able to hack your password, it will be much more difficult to get the special code sent, as well."
3. Be Cautious of What You're Clicking Online
Phishing attacks continue to rise sharply each year. Cyber criminals will go to great lengths to be able to uncover your sensitive information.
"Be cautious when you're doing anything online," Nicole said. "Only visit reputable websites that you trust, and only open emails from people you know. Oftentimes, thieves will use phishing emails in an attempt to get you to click links that give them access to your device. When they are successful, they have a good chance of uncovering your personal information."
4. Set Up Account Alerts
Most financial institutions will give you the ability to sign up for text or email alerts if there is unusual activity on your account. With the rise in artificial intelligence, spotting fraud is going to become even easier.
"Ten or 15 years ago, most people would check their monthly bank statement to see if anything looked out of place," Nicole added. "That created inefficiencies for tracking fraudulent transactions. Today, if we notice a transaction was made out in a location you're not frequently at, we can send you an alert so you can approve or deny the transaction."
Some banks even allow you to receive an alert each time your account is used. While this might be annoying for some people, it can help keep you in the know about what's happening with your account.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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