Financial fraud is something that a lot the population worries about. Between the ease of online purchasing and the number of hacking reports that you can see throughout varying news outlets, it’s easy to understand the discomforting thought that financial fraud may happen to anyone. However, there are some ways to keep your money safe and spot financial fraud.

Financial Adviser

A financial adviser can help you in a variety of ways when it comes to your finances. They are able to more easily spot fraudulent businesses that may be higher risk purchases without the assistance of a financial advisor. Especially with the rapid growth of the internet, this can be useful. One thing to be wary of is that anyone can call themselves a financial advisor so don’t shy away from checking the credentials of your financial advisor. If they are legitimate, they should be able to present certification from the National Association of Personal Financial Advisers, the Financial Planning Association, or the Certified Financial Board of Standards.

Smart Technology

Identity resolution software can help to keep your personal information safe. Not only does it detect potential cases of financial fraud, but it is able to detect if any aspect of your identity is potentially being used and alert you. It is able to check a variety of lists including electronic health records, homeland security, and more to ensure the safety of your identity. Coders are needed when making these applications and websites. The pay is great and there is a shortage of qualified applicants. 

Evaluate Statements

Personally evaluating all of your financial statements is the best thing that you can do to keep all of your hard-earned money safe. This ensures that everything is in order as you can monitor your spending and inflow of income. It can also help with budgeting if this is somewhere that you have struggled with. Following financial statements ensures that all purchases are correct and there are no overcharges or larger issues. Those with a business or finance degrees are a great asset to their companies. 

Transaction Alerts

Most banks allow you to sign up for automatic transaction alerts. These are typically sent directly to your e-mail, but some offer to send the alerts in the form of a text as well. If your bank offers both, they will let you choose which option is preferable for you. Transaction alerts will send you a notification whenever there’s inflow or outflow of money in your accounts which allows you to spot potential problems the moment they may arise. Many of these calls come from customer service and account agents at banks. A career in customer service could open the doors to an account management job at a bank support center. 

There are a variety of ways that you can keep your finances and identity safe. Educate yourself on what to look out for and set up safety nets in case anything goes wrong. There’s no way to ensure that financial fraud will never happen to you, but you can certainly stop it before it effects you.