Protect Your Mobile Devices from Fraud


Every year, fraud is on the rise. While that fact doesn’t seem to change, the methods that criminals use to commit fraud to evolve with technology. The popularity of payment and mobile apps has given them many new ways to try to steal your money.

In 2021, fraud attempts increased by 41%, according to a survey from NICE Actimize. The biggest increase, however, involved peer-to-peer payments, which saw a 38% rise in attempted fraud transactions and a 63% increase in the dollar amounts involved with those attempts.

On top of that, account takeover fraud in which a criminal takes ownership of an online account using stolen login information accounts for 61% of fraud committed through mobile apps. Fraud in which a credit card or debit card was not present accounts for nearly 47% of fraud across all channels, according to the survey.

Those figures only prove how important it is to stay vigilant and know how to protect yourself and your mobile devices so you don’t become a victim of fraud.

It’s critical to exercise caution on any app in which you make or receive payments. There are many things you can do to protect yourself, but if you let your guard down, you can easily become a victim.

How to Protect Yourself

Mobile devices provide convenience and have become something many of us rely upon daily. Cybercriminals have also seized upon this convenience as a way to commit fraud. Consider the following tips to protect your devices.

If you believe you are a victim of fraud, contact your bank to report the issue. They can help you review your accounts for fraudulent transactions and provide instructions on further steps to take.



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