In the past, multiple reports of payment card data breaches at some of the nation’s largest retailers — including Target and Neiman Marcus — have revealed a harsh reality to American consumers: their debit and credit card information could have been in the hands of cyber criminals for months without knowing about it. Don’t be surprised if more data breaches at retailers come to light.
Fortunately, with the help of financial tools, consumers can keep a close eye on their accounts for any suspicious activity with these free tools:
Most banks offer account alerts through emails, text messages, and mobile app notifications, which are triggered when a certain transaction occurs or when your balance reaches a certain amount.
For instance, you can configure an alert that will notify you when a purchase of $100 or more is made by your account. But, note that many cyber criminals will test stolen card information by making small purchases first.
(Note that carrier fees for data and text messaging may apply.)
Mint allows you to aggregate all your financial accounts into one place so that it’s easy to check all your financial transactions in one fell swoop — as opposed to logging into every single account. Mint also has native mobile apps that make it easy to look over your accounts anytime.
Every week, take a quick glance over your recent activity to catch any fraudulent activity so that you can report it earlier.
There are other alternatives to Mint that will show transactions on financial accounts.
Several free credit-monitoring services will watch your credit reports for any changes that occur — good or bad. Credit Karma, Credit Sesame, and Quizzle will track changes to members’ credit profiles and help them gauge their creditworthiness with a credit score (not the industry-standard FICO score).
Even if they don’t provide the exact same credit scores that lenders use, they allow you to see if your personal information was used to conduct identity theft and to open other credit accounts.