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Crime stoppers: the dos and don’ts for keeping your bank card passcodes secure

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In today’s hyperconnected world there’s no denying that technology has provided a myriad of conveniences that make our everyday lives easier. But it has also made it much easier for fraudsters and criminals to scam consumers and businesses out of hard-earned cash and valuable personal information.

Last year, the Australian Bureau of Statistics' Personal Fraud Survey reported that personal cybercrime cost the Australian economy close to $3 billion.

Meanwhile, Telstra reported that cybercrime doubled in Australia with almost 60 per cent of local organisations detecting a security incident on at least a monthly basis in 2016. This year alone, there have already been not one but two global cyber-attacks; the last one taking place only a few weeks ago.

While it may seem frightening, there are simple ways you can minimise the risk of fraud, particularly when it comes to keeping your bank debit card secure. Here is a list of Dos & Don’ts to help keep you protected.

Do:

  • Regularly update your passcodes
  • Memorise then destroy any notification you are sent containing a PIN or temporary passcode
  • Use a unique and complex passcode
  • Check your Gateway account statements regularly

Do not:

  • Use the same password for multiple channels
  • Provide details via email links, always contact Gateway if you are unsure
  • Let anyone see you enter your PIN or passcode, or overhear you providing a passcode over the phone
  • Store details of your passcodes electronically
  • Use ‘auto-complete’ for passcodes as other people can then access internet banking from the same computer if it is left unattended

Don’t forget, many scams take place over the phone. We are often asked to provide our card details over the phone and in most instances, that’s fine. However, some scammers can pose as legitimate organisations and ask you for your personal details. If you’re not expecting a call from one of your providers, never hand over your details. Instead call the organisation back using the number from the company’s website instead of the one they provide you.

It’s for this very reason that in addition to keeping your passcodes safe it’s also important to stay vigilant and keep yourself informed about new scams and frauds. These trusted websites provide updates on the latest schemes. It’s best to regularly monitor these websites to keep up to date.

  1. Scamwatch

Scamwatch is run by the Australian Competition and Consumer Commission (ACCC). It provides information to consumers and small businesses about how to recognise, avoid and report scams.

  1. Acorn

The Australian Cybercrime Online Reporting Network (ACORN) is a national policing initiative of the Commonwealth, State and Territory governments. It is a national online system that allows the public to securely report instances of cybercrime. It will also provide advice to help people recognise and avoid common types of cybercrime.

If you’re currently using an easily identifiable passcode, like your date of birth, pet’s name or something as common as “password”, it’s time for change. Get more security tips at our website: https://www.gatewaycu.com.au/security-guidelines. If you suspect your passcode has been compromised in any way, please contact us immediately on 1300 302 474 (Monday – Friday, 8am – 6pm, AEST).

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