As we know the cases of scams are increasing day by day in Ireland. Scammers target your banking information to steal your money. So, the first step to avoid getting scammed is to avoid sharing your information. There are some circumstances where you can get scammed for sharing your bank account information. Here are some things advised by Paul McCarthy Cork that should be considered before sharing your bank account information with anyone.
When does someone ask for your bank account information?
There are many instances where someone would approach you for your bank account information, like enrolling in direct deposit through your employer. Sharing the information online (through email, a text message or to sign up for an online payment service, etc.) can also make trouble.
What to know before sharing the information?
If someone is asking about your bank account information and you are not sure if it is the right or wrong person, the following things you should know before you share:
Technically, sharing your bank account information is not completely safe. All fraudsters require your account and routing numbers to perpetrate banking identity theft. Your financial security can be breached if you provide something as basic as a blank cheque to the wrong hands.
According to Paul McCarthy Cork, we always think all people or services store our information securely but in some cases this not like that. For example, providing a hard copy of your information like a blank cheque to the landlord seems safe, but it is still at risk. There are chances of exposing that information to anyone or everyone connected to that landlord. So, it is important to take some precautions while sharing this information.
Enquire before sharing the information
If any company or person asks for your personal or financial information, you have the right to ask questions before sharing the information. Ask them why they need that information, how can you trust them, etc.
Check website security for online transactions
If you are going to input your bank account information into a website, make sure the website is protected with HTTPS encryption. You can check this at the beginning of the website URL in the browser. Always try to use your own secure Internet connection instead of public networks.
Avoid sharing your account information through emails
Email is a common way to communicate but it is not too secure. So, avoid sharing your bank account number through emails. Also, avoid using text messages for sharing such information.
Don’t trust too quickly
If someone calls you using a big-name service and ask to share your banking information, don’t trust them too quickly. Just remember, it’s your responsibility to protect your account, and up to you to decide if you want to share your banking information with someone.