Scammers are getting smarter — but protecting your money doesn’t have to be complicated. A few simple habits can help you stay one step ahead and keep your accounts secure.
Online fraud is a growing problem. From fake texts to phishing emails, fraudsters are targeting everyday people managing busy lives, multiple accounts, and growing financial goals. If you’re building credit, managing debt, or planning for your family’s future, clicking the wrong link or sharing sensitive information could set you back.
The good news: Small, consistent actions can make a big difference. Consider these online fraud protection tips. These are the essential starting points you need if you’re learning how to protect your bank account online.
Never Share One-Time Passcodes — Ever
What are one-time passcodes? Often called OTPs, these are one time temporary security codes sent to you to confirm it’s really you. They are designed to protect you. Unfortunately, fraudsters will try to fool you to get yours. Don’t fall for it. If someone asks for your code — even if they claim to be your financial institution — it’s a scam.
Remember: Your financial institution will never reach out to you and ask for your passcode, PIN, or password. When you call UFCU Member Services directly though, you can expect them to generate a passcode and ask you to share it so they can verify your identity.
2. Think Before You Click
Fraud often starts with urgency—“Act now!” or “Your account is locked.” Carefully read your messages and take a moment to pause before clicking links in emails or texts. It takes practice to learn how to spot a scam message. Look for bad grammar or spelling mistakes. When in doubt, go directly to the official website instead of using the link provided.
3. Use Strong, Unique Passwords
If you’re wondering how to prevent online banking fraud, the best place to start is by not reusing the same passwords across multiple accounts. Reusing passwords makes it easier for fraudsters to access multiple accounts. It’s best to create a long passphrase. Length is better than complexity because it’s easier for most people to remember personal phrases and harder for bad actors to crack. Follow these best practices:
- Create long, unique, with a strong mix of letters, numbers, and symbols.
- Do not use passwords across multiple sites.
- Consider using a trusted password manager to create and store unique passwords securely.
- Where available, features like biometrics or passkeys can offer even stronger protection.