Technology continues to make banking more convenient. From mobile banking and digital payments to real-time account updates, today's tools help customers stay connected to their finances wherever they are.
At the same time, advances in technology have created new opportunities for fraud. Criminals may impersonate trusted individuals, seek access to personal information or attempt unauthorized transactions. Understanding these risks and the safeguards designed to protect you can help you bank with confidence.
Technology is evolving. So is fraud.
One growing trend is the use of artificial intelligence to create convincing messages, emails, phone calls and other communications that appear to come from a trusted source.
Fraudsters may use these tools to impersonate a financial institution, business, family member or friend in an effort to obtain personal information, request account access or encourage an immediate transfer of funds.
While these messages may appear legitimate, it's important to pause before responding to unexpected communications. If something feels unusual or urgent, take a moment to verify the situation through a trusted source. A few extra moments of verification can help safeguard sensitive information and reduce the risk of fraud.
Why security matters
Security measures are designed to protect customers and their accounts from unauthorized access and potential fraud.
From time to time, you may be asked to provide additional information, answer security questions or complete verification steps before certain transactions can be processed. While these requirements can feel inconvenient in the moment, they help confirm your identity and reduce the risk of fraud.
You may also encounter transaction reviews, account restrictions or additional documentation requests in certain situations. These safeguards are intended to protect your accounts and personal information, especially when activity appears unusual or high risk.
Stay connected to your accounts
Digital banking tools can provide timely updates that help you monitor account activity and quickly identify transactions that don't look familiar. Setting up account alerts allows you to receive notifications when specific activity occurs.
Common alert options include:- Balance alerts that notify you when your account balance falls below or rises above a selected amount
- Transaction alerts that notify you when debit or credit activity exceeds a specified dollar amount
- Other account activity notifications that help you stay informed about changes to your accounts
Understanding the safeguards designed to protect you
Financial institutions use monitoring tools and fraud detection systems to identify suspicious activity before it impacts customers. In some situations, this may result in additional reviews or temporary holds while activity is verified.
Although these measures may occasionally require additional time or information, they are designed with your protection in mind. Taking proactive steps before a transaction is completed can help prevent fraud and protect your accounts from unauthorized activity.
Banking with confidence
Cybersecurity threats continue to evolve, but simple habits can go a long way in protecting your accounts. Verifying unexpected requests, enabling account alerts, reviewing account activity and understanding available security measures can help reduce risk and strengthen your financial security.
Staying aware of emerging scams and practicing good security habits can help reduce risk and give you greater confidence when managing your finances.