7 Ways to Protect Yourself From Fraud
Scams are rampant these days, with criminals stealing a reported $12.5 billion from Americans in 2024, according to the Federal Trade Commission. And that’s likely a fraction of actual losses, because fraud is notoriously underreported. But there are ways to protect yourself, including staying up on the latest schemes and following the advice listed below.
1. Secure Your Mail & Home
Protecting your physical space is the first line of defense against fraud. Use USPS Informed Delivery to monitor incoming mail and pick it up promptly to prevent theft. Always take outgoing mail directly to the post office, as scammers often target mailboxes to steal checks and alter them. At home, consider installing a video doorbell or camera for added security. Never let strangers inside without a scheduled appointment and keep a simple refusal script handy for door-to-door solicitors to avoid pressure tactics.
2. Protect Your Personal Information
Identity thieves often rely on discarded documents and lost wallets. Shred any papers containing sensitive information, such as financial statements or bills, before disposal. Remove unnecessary cards from your wallet, like your Social Security card, and keep copies of essential cards stored securely. Regularly audit your wallet and purse to minimize the risk of losing items that could compromise your identity or be difficult to replace.
3. Strengthen Financial & Online Security
Your financial accounts are prime targets for fraud, so take proactive steps to secure them. Set up online access for all your financial institutions and use strong, unique passwords for each account. Enable two-factor authentication wherever possible for an extra layer of protection. Review your account transactions weekly or biweekly to catch suspicious activity early and report anything unusual immediately to your financial institution or credit card company.
4. Guard Your Devices
Smartphones and computers hold a wealth of personal data, making them attractive to scammers. Enable biometric login features like fingerprint or facial recognition on your phone and sign out of financial apps when not in use. On your computer, turn on two-factor authentication for secure websites and consider using antivirus software for added protection. Avoid opening email attachments from unknown senders and mark spam messages to block future attempts.
5. Monitor and Freeze Your Credit
Regularly checking your credit report is essential for spotting fraudulent activity. Many credit card companies offer free reports, or you can use AnnualCreditReport.com. If you notice anything suspicious, report it immediately and consider freezing your credit. A credit freeze prevents scammers from opening new accounts in your name and can be lifted temporarily when you need to make legitimate transactions.
6. Stay Alert on Social Media and Online Shopping
Social media and e-commerce are common avenues for scams. Limit your profile visibility to friends only and never accept friend requests from strangers. When shopping online, double-check URLs to ensure you’re on legitimate sites, as scammers often create look-alike domains. Remove stored credit card information from retail and delivery sites and use secure payment methods like credit cards or trusted e-payment services to reduce risk.
7. Adopt a Scam-Savvy Mindset
The best defense against fraud is a proactive mindset. Never pay with gift cards, cryptocurrency, or gold as these are untraceable and favored by scammers. Silence unknown callers and ignore unsolicited texts or emails. Before making major financial decisions, consult a trusted friend or a fraud helpline for guidance. Most importantly, trust your instincts: if something feels off, pause and verify before taking action.
Fraudsters are constantly evolving, but so can your defenses. By taking these proactive steps and staying informed, you’ll greatly reduce your risk and protect what matters most.
Originally published by AARP on March 27, 2025, adapted by IAA Credit Union.
