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5 simple ways to fight fraud before it happens

You would think that you would not fall victim to fraud until it happens, which is why your common reaction is, “I didn’t expect that.” This blissful ignorance is what fraudsters are looking for in victims.

But you don’t have to become a victim if you’re mindful of these tips to protect yourself from fraud.

Keep username and password to yourself. Giving away your username and password, even to family members or trusted friend, opens you up to possible attacks as they could misplace your access details of your email, social media, and even bank accounts. Never share online access details.

Know to who you are giving personal information. You feel that it’s okay to give away personal information, such as home address, email address, or mobile number, whenever you are using a new online service or mobile app. However, these information could be used in nefarious schemes without your knowledge. Look for and read the terms and conditions and privacy policy of online services or mobile apps that you are using.

Be wary of get-rich-quick schemes. It is easy to be captivated by advertising that says, “Earn US\$100,000 from Home” while browsing the web or your social media network. Clicking these would lead to websites that would ask for your personal information. These too-good-to-be-true offers could be fraudulent schemes tricking you to giving away your personal information. Don’t be baited.

Log out of networks. Most of us would forget or outright disregard logging out of our email, social media, or web browser accounts. Even when using your personal computer or mobile device, someone could access your account and do mean things with it. Always log out and always have a password or a passcode on your device.

Share your knowledge about fraud prevention. Preventing fraud is an organized and concerted activity and is the responsibility of everyone. You can help others from becoming victims of fraud through proactive activities. You can start with sharing this article to friends.

Sources: Bangko Sentral ng Pilipinas, Association of Certified Fraud Examiners