1. Keep your personal details secret

The important thing to remember is to ensure that all your personal, financial and other confidential details are kept secure as possible.   You must never tell anyone else your PIN numbers and passwords.  Likewise, you should never write any private financial information down, specially your PIN numbers and passwords.  If you have difficulty remembering PIN numbers, change them to something more memorable so you don’t forget them, and at the same time avoid using easily identifiable, obvious numbers such as birthdays .

2. Cover your tracks

Any unneeded documents and receipts that contain private, personal and financial information should be completely destroyed preferably using a paper shredder.  Throwing away such material in bins only gives easy access to fraud stars.

3. Get extra protection

If you hold a MasterCard or a Visa card you can register for their online protection schemes, MasterCard SecureCode and Verified by Visa.  It doesn’t cost you anything to register for the online protection schemes, and your individual password will have to be entered along with your normal credit card details in order to complete any online transactions.

Check with your bank to see if they offer any similar schemes with their debit cards, or visit the Mastercard (see useful links) website for more details on SecureCode or the Visa website to register for Verified by Visa (see useful links).

4. Protect your PC

Having a good, up-to-date anti virus and firewall software is essential for safeguarding yourself from online fraud.  Using a phishing filter can also help to secure your transactions by checking each website against phishers who attempt to fraudulently obtain information such as passwords and credit card details.  Anti virus software also protects your computer from Trojan viruses that attempt to capture sensitive information as it’s entered into a website.  You mut always remember to regularly update your virus definitions so that you’re always protected against new and emerging threats.

5. Beware of cold callers

Many fraudsters try this method to obtain specific details such your PIN number, password or date of birth.  They will impersonate a company or individual and try to talk you into providing sensitive information.  Your bank would never call asking for passwords and other personal information; therefore any such callers should be investigated, if you didn’t instigate the call you should never divulge financial information, PIN numbers or passwords over the phone.

6. Stay secure online

You must never follow a link from an email and enter any financial details or passwords, even if the link follows goes through to your banks official website.  Always log in for your internet banking or online shopping sites by typing the address into your browser.  While it is a known fact that fraudsters very often impersonate their victims, they can also impersonate banks, companies and financial organisations too.  They can easily set up websites appearing to be the official website of a bank or building society for fraudulent purposes.

7. Be cautious in shops too

It’s not just on the phone or online that you can be vulnerable to fraud.  If you’re using your card in the high shops or cash points, you should at all times use your spare hand to shield or cover the keypad from prying eyes or hidden cameras.  Never use a cash point if it looks like it has been tampered with.

8. Be vigilant

Check your credit and debit card statements thoroughly to make sure that you haven’t been a victim of fraud.  If you see a transaction that you don’t recognise, phone your bank or card provider straight away.  It’s not just huge amounts of money that goes missing from people’s accounts; often small amounts are filtered off as people are less likely to notice.  You should also file and keep all your bank and credit card statements until you’re sure that you no longer need them, at which point you need to shred them completely destroy them. in another form.

9. Cover yourself

The growing rise in fraud, phishing and identity theft has led to the emergence of a new type of insurance; identity theft cover.  Many banks on the high street are now offering cover in case someone steals your identity and obtains credit or opens bank accounts pretending to be you.  As far fetched as it may perhaps sound, identity fraud is on the increase but you can avoid it by taking the above steps.  If you’re still concerned you could insure yourself against it.

However you should note that the press has made much about these policies praying on people’s fears since banks already refund any money lost in the case of identity fraud.  In spite of this it can offer help in rectifying your credit rating and paying any solicitors fees needed to clear your name.

10. If you do experience fraud…

If you notice unusual on your statement or if you suspect anything, contact your bank immediately.  The emergency 24 hour number is usually found on the back of your card.  Banks and credit card providers normally will refund you as long as you took reasonable care – such as the steps above – not to leave yourself open to fraud.  They investigate all fraud claims and cases before giving your money back.  It would be wise to try and find out how the money left your account so that you can be extra careful next time.