Protecting Yourself from AI Banking Fraud

The rise in technology and artificial intelligence (AI) is changing our everyday lives – and the way we bank – making it more important than ever to learn how to protect yourself from digital threats.

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AI and the New Face of Fraud
AI allows cybercriminals to create believable, targeted attacks that don’t always contain obvious errors. It lowers the barrier of entry, so a person with limited tech expertise can carry out a cyberattack.

Consumers can protect themselves by learning common red flags. For example, a bank will never contact you requesting confidential information over the phone or approach you with persistent urgency to act immediately.

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Pause, Validate, Proceed
When you receive a suspicious call or email, first pause. Despite how urgent the message seems, don’t click a link, provide information, or download an attachment without taking a moment to think.

Next, validate the message. Consider whether you recognize the email address or if there are spelling errors. When in doubt, call your bank to verify.

If everything looks legitimate after you pause and validate, proceed. If not, then report, delete, or ignore the message.

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Simple Steps to Stay Secure
You can reduce risk through daily habits. Ensure your passwords are updated and unique, talk regularly with your family about bank safety, and avoid posting your personal information or travel plans on social media.
Be especially aware of your elderly loved ones, a much more susceptible population to cyberattacks. You can add a trusted contact to their bank account, who will be notified of unusual transactions.

As AI changes the landscape of digital banking, you must educate yourself and have important conversations about cybersecurity. Even a small change can be the first step to keeping yourself safe.

For more information on how you can protect yourself from fraud and cyber threats, visit our Security and Privacy page.