Atlantic Blog

As consumers, we must always safeguard our credit card and banking information from thieves. With technological advances, criminals have become more sophisticated when developing their identity theft and fraud schemes. Unfortunately, we must stay one step ahead of them to protect ourselves and our finances!

Fortunately, these strategies don't have to be complex or worrisome; if you understand the different tactics used in identity theft and fraud, you can implement simple ways of protecting yourself against these risks. Let's get savvy about avoiding scams! Recently, two of the most popular cons have been Typo-squatting and Identity Fraud. But don't worry - with a few simple steps; you can outwit these malicious scammers and stay one step ahead of all the trouble.

1. Typo-squatting - What it is and how to protect yourself

Typo-squatting is a type of fraud in which criminals use domain names that closely resemble legitimate websites to steal your personal information and money or redirect you to malicious sites. These domains can be registered with slight variations of legitimate web addresses or brand names. For example, a typo-squatter might register "amazom.com" instead of "amazon.com" or "app1e.com" rather than "apple.com". It is important to double-check the URLs before entering sensitive information on a website – even if it looks familiar!

2. Passport/Photo ID identity theft – passport protection and best practices

Identity thieves can use stolen passports or other forms of ID to open bank accounts, purchase goods or services online, or gain access to other protected websites or databases. To protect yourself from passport or photo ID fraud trends, always keep it in a safe place and never leave it unattended when traveling abroad.

Additionally, regulalry monitor your credit card and bank statements for suspicious activity and report any fraudulent charges immediately. Be sure to shred all documents containing personal information before disposing of them to reduce the chances of becoming a victim of identity theft or fraud. If you've fallen victim to identity theft and are unclear about what to do, visit this step by step action guide. Finally, If you have any lost or stolen forms of ID, contact your financial institution as soon as possible so they can help mitigate fraud and protect your money.

3. Protection against fraud – using password safety against financial fraud

Make sure your passwords are strong and secure using a mix of upper and lowercase letters, numbers, and symbols. Take time to learn what makes a good password. Think of a password as a lock on your door. A strong, durable "lock" prevents anyone from attempting to get into your account. 

It's also important to never use the same password for multiple accounts, as this makes them more vulnerable if someone does manage to access one of your accounts. Additionally, be sure to enable two-factor authentication whenever possible so that even if someone does guess your password, they won't be able to gain access without an additional code sent directly to you via text message or email. Protecting your passwords is one of the most effective and straightforward steps to prevent scams and fraud. Never give out any personal banking information, give Atlantic a call if you receive any suspicious phone calls asking for personal banking information.

Conclusion

Knowing the various tactics used in identity theft and fraud can help you stay one step ahead of scammers and protect yourself against potential risks. By understanding how typo-squatting, identity fraud, and other scams work, you can take steps towards safeguarding your personal information online so that you don't become a victim of identity theft or fraud. This FBI Fraud Alert Poster is an excellent resource to review if you are unsure about being scammed. With the proper knowledge and precautions, you can stay safe while still enjoying the convenience of modern technology!

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This publication is distributed for educational purposes with the understanding that the authors are not engaged in providing legal or financial advice. The authors assume no legal responsibility for the completeness or accuracy of the published contents.