How to Protect Yourself From Rising Financial Fraud, According to an Expert

June 19, 2026 - 17:27

As fraudsters increasingly adopt artificial intelligence and other advanced tools, financial scams are becoming harder to spot. From convincing fake phone calls to realistic phishing emails, the tactics are evolving fast. But according to cybersecurity and fraud prevention experts, there are concrete steps you can take to protect your money and personal data.

First, slow down. Many scams rely on creating a sense of urgency. If someone calls claiming to be from your bank and demands immediate action, hang up and call the official number on the back of your card. Do not use any number they provide.

Second, enable two-factor authentication on all financial accounts. This adds a second layer of security beyond your password. Even if a scammer steals your login details, they likely cannot access your account without the second code sent to your phone or email.

Third, never share one-time passcodes. Legitimate institutions will never ask for these codes over the phone or via text. If someone requests one, it is almost certainly a scam.

Fourth, monitor your accounts regularly. Check your bank and credit card statements at least once a week. Set up alerts for any transaction over a small amount, like 50 dollars. Early detection can stop fraud before it spirals.

Finally, be skeptical of unsolicited messages. Whether it is a text about a package delivery, an email about a security breach, or a social media message from a friend asking for money, verify through a separate channel before responding. Scammers often impersonate trusted contacts using hacked accounts or spoofed numbers.

Experts also warn against storing sensitive information in notes apps or unencrypted documents on your phone. If your device is compromised, that data becomes easy pickings.

In short, the best defense is a combination of caution, technology, and routine checks. As scams grow more sophisticated, staying informed and skeptical is your strongest weapon.