Faith & Finance - How to Keep Your Bank Accounts Safe from Fraud with Aaron Caid

With financial fraud on the rise, protecting your personal and banking information has never been more important. A recent JD Power study found that nearly 29% of bank account holders experienced fraud in some form over a 12-month period.

To help us navigate the best security practices, Aaron Caid shares expert advice on how to safeguard your accounts from cybercriminals.

Aaron Caid is the Chief Marketing Officer at Christian Community Credit Union, an underwriter of Faith & Finance. 

1. Strengthen Your Password Security

A strong, unique password is your first line of defense against fraud. Here’s how to create one that’s tough to crack:

• Use a mix of uppercase and lowercase letters, numbers, and special characters.
• Avoid using common words or easily guessed phrases (e.g., "password123" or your birthdate).
• Consider using a password manager to generate and securely store complex passwords.

In addition to a strong password, enable two-factor authentication (2FA) for your financial apps. This extra layer of security requires a one-time passcode (usually sent via text or an authentication app) to verify your identity when logging in or completing transactions.

Pro Tip: Turn off text message previews on your phone. If a scammer steals your phone, they could see your passcode on your lock screen and gain access to your accounts.

2. Monitor Your Accounts & Stay Alert for Fraud

Vigilance is key when it comes to detecting fraudulent activity early.

• Regularly check your bank accounts for unauthorized transactions.
• Review your credit reports through the three major bureaus—Equifax, Experian, and TransUnion—by visiting AnnualCreditReport.com.
• Sign up for transaction alerts from your bank or credit union to get notified of suspicious activity.

Fraudsters also use phishing scams—fake emails, texts, or calls—to trick people into giving away personal information. These scams often create a sense of urgency to pressure you into acting quickly.

Never share your:

• Username or password
• One-time passcodes
• Account or personal information over the phone, email, chat, or text

Hackers can spoof phone numbers and email addresses to make messages appear legitimate, even impersonating banks and credit unions. If you’re ever unsure, call your financial institution directly to verify any suspicious messages.

3. Use Secure Wi-Fi & Protect Your Personal Information

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