What is Fraud? Fraud is a wrongful or criminal deception intended to result in financial or personal gain. What is the credit union doing to prevent fraud on debit cards? Can members help prevent fraud on their debit card? Tyler City Employees Credit Union is continuously trying to find ways to help safeguard our members debit card information and giving members a tool to help prevent fraud. Members can download the credit union app or SecurLOCK app to disable their debt card if the member should misplace or lose their debit.
You, our Member, can do the following steps to help prevent fraud:
- It's safer to use a credit card for online shopping. If you use your debit card, you're giving potential hackers access to your bank account information. You run the risk that a fraudster might decide to use your debit card number or wipe out your account. Credit cards, on the other hand, are more secure for online use and offer more protections against liability for fraudulent charges.
- ATMs that aren't in banks or in Credit Unions are probably best avoided for a couple of reasons. For one thing, these ATMs usually charge a fee and these little fees can eat into your budget. For another, hackers can tamper with ATMs to steal debit cards and card numbers. It can be easier for thieves to tamper with ATMs in remote locations and ATMs that are already looking a little run-down. If you have to use a stand-alone ATM and it makes odd requests, like asking you for your PIN twice, you might want to terminate the transaction to be on the safe side.
- Whether you're using an ATM, paying at a register or using a handheld card machine, it's a good idea to cover your PIN. You may feel a little awkward doing so but it's a simple way to protect your PIN from anyone who might want to access it. Some thieves set up hidden cameras for the purposes of filming people entering their PINs. Even if no one is around it could be wise to still cover the keypad while you enter your PIN.
- Before you travel it's a good idea to alert your financial institution. That way, your card won't get shut down when you try to use it and fraudulent purchases are more likely to get declined. If your financial institution knows you're out of the country it's more likely to decline an attempted fraudulent purchase in your hometown.