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How to protect your finances from risks and fraud

Protecting your finances from risks and fraud is an important aspect of financial security. The editors of the Prodengi.kz website give some tips that will help protect your finances.
How to protect your finances from risks and fraud

Use reliable sources of information

Finance is a very important area of life, and the right information can help you make grounded decisions and achieve financial stability.

When choosing a financial instrument or financial institution, use only official websites where you can find information about products and services, interest rates, fees and other important details.

Even large media outlets publish advertising materials, so it is better to double-check information in publications on regulators’ websites. In Kazakhstan, it is the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market and the National Bank.

Identify your risks

It is easy to identify risks by checking information about the organization where your money is kept and looking at the dynamics of exchange rates and inflation.

Our family members often have access to money in our accounts. Therefore, the highest risks are associated with fraud. And if you understand fraud schemes, your children or parents do not necessarily realize they are dealing with a criminal.

Numerous financial organizations conduct free financial literacy courses.

Use bank protection

For example, this could be using two-factor authentication when logging into a bank account, installing anti-virus software on your computer and mobile devices, regularly updating passwords, etc.

Monitoring

Keep track of your financial transactions. At least once a week, track statements and expenses in your bank's app, and check your credit reports.

Confidentiality

Never share your personal information: credit card numbers, PIN codes and passwords with anyone other than official representatives of the bank or other financial institution.

Source: https://prodengi.kz/

Photos are from open sources.

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