How are you keeping your accounts safe from financial fraud ? Becoming a victim of fraud causes a lot of hardship , from having to cancel your cards or stop checks to in some cases closing your accounts altogether .

As a banker in Birmingham , one of my goals is to help my clients prevent financial fraud and keep their assets safe .

With that in mind , here are six simple tips I share with my clients to help prevent fraud .

1 ) REVIEW YOUR ACCOUNTS

DAILY . One of the simplest ways to keep your personal and business finances secure is to check your accounts each day . If a fraudster does access your account , it ’ s best to catch it quickly . I also recommend my clients diversify their accounts , keeping their money in savings and transferring what they need to an operating or checking account .

2 ) USE CREDIT CARDS WHEN

POSSIBLE . Using a credit card puts the credit card company on the hook for fraud instead of you . Make sure to check these

accounts regularly as well , so you can report fishy activity as soon as possible . Credit cards offer protection by eliminating the risk of your bank account numbers being compromised and your cash being taken .

3 ) REDUCE PHYSICAL

CHECK-WRITING The most prevalent and challenging fraud to manage is from physical checks . I advise my clients to exercise extreme caution when issuing a physical check and whenever possible , to steer clear of mailing it . A fraudster can cause significant damage with the info on a check , leaving you to bear the brunt of the consequences .

4 ) USE CHECK AND ACH

POSITIVE PAY . If you are a business owner , try Check and ACH Positive Pay to protect your business transactions . The way it works is every day you upload the checks or ACH transactions you ’ ve submitted to a software that shares that information with the bank who knows exactly what transactions to approve . Any transaction not on the list is denied . This keeps you safe from check washing and other fraudulent schemes .

5 ) ONLY ACCESS YOUR ACCOUNTS ON A SE- CURED NETWORK . Digital security is a concern for everyone . I recommend staying as safe as possible by only accessing your online accounts on your own private WIFI networks . Using public-unsecured networks puts your accounts at risk .

6 ) GET TO KNOW YOUR

BANKER ! Your banker is one of the first lines of defense when it comes to preventing fraud . Think of your banker like your primary care physician - you want to keep them updated as your life and needs change . In turn , they can provide fraud prevention tools tailored to you .

Joe Taunton is Vice President Market Manager at Valley Bank in Birmingham and has been in banking for 12 years .

* This article is made available for informational and educational purposes only . Any views , thoughts , and opinions expressed herein are solely those of the writer and do not reflect the views , opinions , policies , or positions of Valley National Bank .

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