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How to Stay Cyber Safe: Tips for Protecting Your Finances Online
Cybersecurity threats are more advanced than ever, targeting individuals and institutions alike. Scammers are leveraging tools like phishing emails, voice deepfakes, and malware to steal sensitive information and funds from online accounts. While it can be challenging to keep track of all the latest trends, GNCU is here to help you stay one step ahead. By understanding the risks and practicing proactive online safety, you can protect your personal information and financial well-being from cybercriminals looking for new targets.
The Rising Threat of Financial Fraud
Cybercriminals constantly evolve their tactics, exploiting both new technologies and human vulnerabilities. Data shows that over 95% of breaches involve phishing—a scam designed to trick you into sharing private data like passwords or bank account details.
Voice deepfakes, where fraudsters mimic a person’s voice to authorize fraudulent transactions, are another alarming new frontier. This is where scammers use artificial intelligence to sound eerily realistic, pressuring individuals to act quickly in transferring funds.
To counter these risks, GNCU employs advanced tools like multi-factor authentication (MFA), real-time fraud detection, and customizable account alerts. But technology alone isn’t enough—education and awareness are your best defenses.
3 Red Flags to Watch For
Spotting scams quickly is critical to stopping them. Here are three common warning signs:
- False Sense of Urgency: Emails, calls, or texts that demand immediate action—like transferring funds to avoid losing access to your account—are classic red flags. Legitimate financial institutions will never pressure you to act without verification.
- Suspicious Links or Attachments: Fraudulent messages often contain links or attachments designed to steal your data or install malware. Always hover over links to verify their destination before clicking.
- Unusual Requests for Personal Information: Your bank will never ask for sensitive data like passwords, verification codes, or Social Security numbers through email or text. If you’re asked for these, it’s a scam.
How GNCU Keeps You Safe
At GNCU, your safety is our priority. We’ve implemented robust cybersecurity measures to shield your accounts:
- Customizable Alerts: Members can activate real-time alerts for unauthorized transfers, password changes, or profile updates to stay informed and react quickly.
- Multi-Factor Authentication: MFA adds a critical layer of protection, requiring additional verification for account access.
- Fraud Detection Systems: Advanced monitoring tools help detect suspicious activity and prevent unauthorized transactions.
Additionally, GNCU continually educates members about emerging scams and best practices for online safety. Together, we create a stronger defense against fraud.
5 Simple Cybersecurity Steps to Protect Yourself
Take charge of your online security with these actionable tips:
- Enable Multi-Factor Authentication: Protect your accounts with MFA to reduce the risk of unauthorized access—even if your username or passwords are compromised.
- Verify Before Acting: If you receive a suspicious call or email, hang up or step away. Contact your financial institution directly using official channels to verify the request.
- Avoid Public Wi-Fi for Transactions: Hackers often exploit unsecured networks. Use a VPN or wait until you’re on a secure connection to manage your finances online.
- Monitor Accounts Regularly: Review your bank and credit card statements for unusual activity. Set up alerts to notify you of any suspicious transactions.
- Educate Yourself: Stay informed about new threats, such as smishing (SMS phishing) or voice deepfakes. Awareness is your first line of defense.
What to Do If You’re Targeted
If you suspect fraud or realize you’ve been scammed, act immediately:
- Contact Your Financial Institution: GNCU members can call our fraud hotline at (775) 334-8635, (M—F, 8 AM—5:30 PM) or log in to Digital Banking to report issues and secure impacted accounts.
- Change Your Credentials: Update passwords and enable MFA on all affected accounts.
- File a Report: Submit a complaint with the Federal Trade Commission (FTC) at ReportFraud.FTC.gov and monitor your credit reports for signs of identity theft.
The Future of Fraud Prevention
As scams grow more sophisticated, collaboration between financial institutions and our members is crucial. GNCU is committed to investing in cutting-edge technology and providing ongoing education to empower and protect our community. Together, we can stay ahead of evolving threats and ensure your financial future remains secure. To learn more about GNCU’s fraud prevention tools and alerts, visit gncu.org/fraud.
