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Banks and lenders are under pressure to better secure their customers’ accounts to help prevent bank fraud. However, consumers should play a proactive role in minding their money. Two-factor authentication and activity alerts are just some of the tools available for consumers to keep track of their finances.
David White, Managing Director in the Identity Theft and Breach Notification practice of Kroll, a division of Duff & Phelps, was featured in iNews discussing the warning signs of bank fraud, as well as how consumers can avoid becoming a victim.
David suggests that consumers “take five or ask advice” if someone you don’t know is pressuring you to send them money. “Remember, fraudsters know you are more likely to make mistakes when you are busy or under pressure, so think carefully before rushing that payment,” David advises.
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