Some people I talk to are afraid to bank online. They don’t trust computers to keep their accounts safe and accurate.
But online banking actually can tip you off to possible identity theft.
Many banks will let you set up your accounts to send you alerts by text message or email for certain types of transactions, such as online purchases or transactions of more than $500, the American Bankers Association said in advice this week.
If you get an alert and you didn’t buy something online or withdraw $500 from your account, you’ll know something is up and can alert your bank.
The alert system won’t prevent identity theft, but by identifying it immediately, you can minimize the damage.
The American Bankers Association, in recognition of National Cybersecurity Awareness month, offered other tips to prevent identity fraud. You can read them here.