Your Fraud Prevention Checklist, Straight from Schwab

By Kaylie Wise

As technology continues to advance, we’re gaining more convenience, more efficiency, and more ways to manage our financial lives. But with those benefits also comes a challenging reality: fraudsters are becoming more sophisticated, more convincing, and harder to detect. Our goal is to keep you informed and protected. Today, we’re sharing a Fraud Prevention Checklist built from Schwab’s security guidelines, so you know exactly what to do to stay safe.

Fraud Prevention Checklist

1. Strengthen Your Security With Your Financial Institutions

1. Enable two-step verification for account access.
2. Sign up for security alerts so you’re notified of unusual activity.
3. Use voice ID features when calling your financial institutions

2. Be Cautious With Unexpected Communication

• Be suspicious of unsolicited calls, emails, or texts requesting personal information.
• Avoid sending sensitive information via email since it’s easily compromised.
• Verify any money movement instructions by calling the sender directly using known number.

3. Stay Protected From Phishing

• Don’t click links or attachments if you aren’t 100% sure of the sender
• Hover over links to check the actual URL before clicking
• Be wary of emails with blank “To” or “cc” fields, as they’re often mass-sent scams.
• Turn on your emails spams filters

4. Keep Your Computer, Phone, and Browser up to date

• Install anti-virus and anti-spyware tools on all devices.
• Avoid using free or unknown UBS drives, as they may contain malware.
• Turn off Bluetooth when not in use.
• Lock your computer screen whenever you step away.

5. Protect Your Home Network

• Enable your router’s built-in firewall to block unauthorized access.
• Turn on automatic firmware updates to ensure your router receives the latest security patches.
• Secure your Wi-Fi using WPA2 or WPA3 encryption and a strong, unique password.

6. Be Careful With Public Networks

• Avoid logging into accounts on public Wi-Fi.
• Do not access banking or personal accounts on public Wi-Fi.
• Use your personal hotspot whenever possible.
• Never download updates or share sensitive information while on a public network.

7. Use Strong Login Practices

• Use unique, secure passwords and change them every six months.
• Avoid using personal information like birthdays in usernames or passwords.
• Consider using a password manager to securely store and generate passwords.

8. Verify Website Security

• Look for https (not http) in the website URL.
• Check for security indicators such as lock icons or verified domain markers.
• Download apps only from trusted sources like the Apple App Store or Google Play Store.

Technology opens incredible doors, but staying protected requires awareness. By taking these steps, you significantly reduce your risk of fraud and strengthen your digital security. And remember, our team is here to help. We are committed to keeping you informed and safe as you manage your financial life.