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Banks Warn of Credit Card Fraud: How to Protect Yourself

As credit card fraud continues to be a major concern, banks are taking steps to educate customers on how to protect themselves from becoming victims. According to recent statistics, thieves will often make small initial transactions to “test” the account before making larger, more damaging purchases.

Receiving E-Statements: A Safer Option

In an effort to reduce the risk of fraud, many banks are encouraging customers to opt for electronic statements instead of paper statements. Not only do e-statements arrive faster, but they are also less likely to be stolen or tampered with than their paper counterparts. To further secure your financial information, it is recommended that you shred old statements and bills before recycling or disposing of them.

Additional Tips for Staying Safe

• Sign up for e-Statements and e-Bills to reduce the risk of fraud
• Store new and cancelled checks in a safe and secure location, and only carry your cheque book when necessary
• Report any lost or stolen cheques immediately
• Carry only necessary information with you, and leave unused credit cards at home in a safe location
• Keep copies of important information you carry regularly and store them in a safe place

What to Do If You Suspect Fraud

If you suspect that your credit card has been compromised, it is essential to report the issue immediately. Contact our Customer Support Department at (767) 255-2300 or send us a Secure Message through MoBanking using the Report/Stolen Lost Card feature.

Monitoring Your Account: The Best Protection Against Fraud

The best way to protect yourself against fraud is to monitor your account regularly and watch for suspicious activity. You can do this by logging into Online Banking or Mobile Banking, where you can set up alerts to notify you of any unusual transactions.

Additional Security Measures

• Contact us before traveling to avoid unnecessary security calls or denied transactions
• Use NBD online and mobile banking to keep track of your account
• Save receipts to compare with your billing statements, reconcile accounts monthly, and report any questionable charges

By following these simple tips and being vigilant about monitoring your account, you can significantly reduce the risk of credit card fraud. Remember, at NBD, your account security and privacy are our top priority.

Reporting Fraud

If you believe you have received a fraudulent message or have been affected by a scam, please call us at 1-767-255-2300 or email us at [email protected]. We are committed to educating our customers on fraud, identity theft protection, and password and PIN protection.