Protecting yourself from fraud
Protecting your money is the first line of defense.
So, make sure your bank has good security, says Shirley Inscoe, senior analyst at Aite Group, a research and advisory firm. One must-have is the fraud alert that your bank sends.
"That way, consumers are notified when there's fraud activity," she says. Other alerts, such as ones that notify you if your balance goes under $50, also are valuable. You can choose to be contacted by text, email or phone.
Inscoe has one more security tip: Only download bank apps from a well-known store, such as Google Play, or from your financial institution.
"There's a ton of malware in apps," so be careful, Inscoe says.