Protecting yourself from fraud during money movement is crucial, whether you’re making online payments, wire transfers, or any other form of financial transaction. Today’s technology has created minefields to navigate when it comes to protecting your sensitive information. Here are several steps you can take to minimize the risk of falling victim to fraud:
- Use Secure and Reputable Platforms: Use reputable payment platforms when completing transactions. Tidal Money’s platform is 256-bit key encrypted and SOC-certified to keep your information safe.
- Verify Recipient Information: Before making any money transfers, make sure to verify phone numbers, email addresses, and account numbers. With Tidal Money’s ability to integrate with a company’s system of record, we’re able to minimize the risk of incorrect data entry.
- Two-Factor Authentication (2FA): Enable 2FA whenever possible for your online accounts. This adds an extra layer of security by requiring a second form of verification beyond your password.
- Stay Informed: Keep yourself updated about the latest types of fraud and scams. Awareness is the first line of defense!
Keep in mind that fraud evolves constantly, so it’s important to stay vigilant and practice good cybersecurity habits. If you suspect that you’ve been targeted or have fallen victim to fraud, contact your financial institution right away!