What Fraud Protection Tools Do You Have?

Posted

fraud protection
The holidays mean that most of us have likely been doing some online spending—and increasing our chances of becoming victims of credit card fraud at the same time. Even if you aren’t using your debit or credit card a lot, there is still the chance it can be stolen, and there could be a lot of headaches if it is. In fact, in 2016 alone, there were more than 3 million complaints of credit card fraud, with a number of people claiming the fraud resulted in such issues like missing time away from work, having to borrow money, or even affecting their credit to the point that they no longer qualify for future loans.

Fortunately, SC Telco offers its members a variety of options and applications, all designed to prevent and report fraudulent activity and protect your financial status. We’ve compiled a short list our top fraud protection tools This is just some of the many ways that SC Telco is keeping an eye on your financial security and your future protection.

Not an SC Telco member. How does your bank stack up?

Our Top Fraud Protection Tools

Card On/Off

With our card on/off feature through the My Mobile Money app, you can turn your card “off” if it’s ever lost, rather than having to cancel and replace it immediately. Even better, you can turn it back on again once you locate the missing card. All this can save you time and peace of mind.

Credit Report

Statistics show that 21 percent of the American population has never checked their credit score, but checking a credit report (and your credit score) is one of the most important ways to keep an eye on your credit. Your credit report will tell you if anyone has been pulling your report, or if any new accounts have been opened under your name.

EMV Chipped-Cards

Most banks and credit accounts have moved to the EMV-chipped cards over the past year, primarily because regulations have put the responsibility on the vendor to ensure purchase security, and SC Telco is no different. With an EMV card, transaction information is encrypted, making it even more difficult to copy or access.

Fraud Alerts

Having a fake transaction on your account is bad; not knowing about it for a long time is worse. With fraud alerts, available through My Mobile Money, SC Telco will notify you of any suspicious activities or purchases on your card, allowing you the opportunity to either confirm its validity or deactivate your card immediately to protect yourself from future fraudulent purchases.

Location Services

When traveling, you can avoid fraudulent activity by letting the credit union know you’re in a different location than usual. With location services, available through My Mobile Money, you can update your current location on your phone, creating a seamless transfer of information right to the credit union and preventing the precautionary shut-down of your card while you’re on the road.

Notifications

When multiple people with multiple cards have access to your account, it can be tricky to keep an eye on purchases. But with notifications, available through My Mobile Money, you can set different parameters to alert you when matching purchases are made. Want to know when your card is used for a big online purchase? Or when a purchase larger than $100 hits your account? Notifications can let you know as they happen—helping you keep a closer eye on your bottom line.

Security Tips & Resources

There’s a lot more to know about financial security than what can be found on an app. We’ve created a bank of resources to keep you up-to-date on topics that concern the safety of your accounts. Visit SC Telco’s Online Safety page to learn more about the current state of affairs when it comes to your financial protection.

Whatever your financial goals are for the future, SC Telco can help. Visit one of our locations and speak with a specialist to get started.