July 10, 2023

The number of people who regularly do some, or all, of their banking online is steadily increasing. With that increase comes increased risk, and with those risks we must work to protect ourselves from online predators. No one is invincible. Awareness and diligence are key factors needed to minimize risk your risk of fraud when banking online.

It’s important to protect yourself and your finances. Here are some tips to help you STAY DILIGENT:

D – Devices that are used to access your accounts online should be protected by a PIN. Always try your best to make it as difficult as possible for unauthorized users to gain access to your information.

I – Invest in a password manager to help you create strong passwords. Do NOT use the same password for more than one application or website. If a password is compromised, it creates an opportunity for fraudsters to access any accounts where that password is also used.

L – LOG OUT every time you finish your online banking. And, although the convenience is tempting, never save your username or password in your browser.

I – Issues can be detected early by regularly monitoring your accounts. Set automatic alerts for any bill payments, changes to bill payment vendors and e-transfers, as well as any changes to your passwords or personal information. This should also include any log-in attempts that are not yourself.

G – Guard against any unauthorized account access by using enhanced logins and multi-factor authentications, if available. Avoid the use of public Wi-Fi or computers when accessing your banking and financial information. Always try to use your own home internet or cellular data.

E – Engage in account transaction reviews and actively monitor your financial accounts. Frequent unknown small transactions might be the first sign of a hacker’s attack.

N – Never disclose your personal financial or login information to anyone. YNCU will never call, text, or email to ask for these types of personal details. Confirm the URL address when doing your online banking and always navigate to your banking website instead of clicking on a link that is sent to you.

T – Take the time to verify your anti-virus software is up to date on every device in your household. Web browsers and operating systems must have the most recent and up to date security patches in place to protect you and keep your account information safe.

At YNCU we care about our members, and we will always strive to help where we can. If you have any questions about how to safeguard your accounts, please feel free to reach out to our staff. We can help you set up alerts for new bill payments, make changes to existing bill payments, and manage your e-transfers. Remember to regularly change your passwords and always review your account transactions.

Protect your personal information and your finances by STAYING DILIGENT when banking online.

If you suspect you’re a victim of fraud, contact your Financial Institution immediately and report it to your local police. If you’re a YNCU member, contact our Service Excellence Centre at 1-888-413-YNCU at the first sign of fraud. Know that you are not alone. We are here to help!

You can also contact the Canadian Anti-Fraud Call Center at 1-888-495-8501.

Help us prevent fraud by sharing these tips to look out for with your friends and family!