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Preventing Fraud – Your Financial Security Matters


Protecting yourself against fraud in today’s digital age is a crucial topic. Your personal and financial information is as precious as gold, and pirates are always lurking, ready to plunder it…


First and foremost, it’s essential to safeguard your information. This means never sharing sensitive details like your PIN or online banking passwords, even if the request seems legitimate. Treat your personal information like your toothbrush—never share it, no matter how close you are to someone. Be extremely vigilant with emails and messages; phishing attempts can be sophisticated, often masquerading as your bank or a trusted institution. Always verify the source before clicking on links or providing information. Think of it like checking the ID of someone knocking at your door at night.

Fraud can happen to anyone. Just two weeks ago, I was almost caught by a scam myself. It was only at the last minute when I decided to pause, put the phone down, and verify with my bank that I discovered it was indeed a fraud attempt.

Regarding passwords, it might sound obvious, but regularly updating your passwords and using two-factor authentication whenever possible is crucial. Think of it as constantly changing the locks on your doors and adding an extra bolt for good measure.

Another common scam involves texts and messages requesting money. People close to you usually call for help rather than text. A close friend of mine recently fell for this, sending money to someone they thought was their daughter, who it turned out was not. Always call the person texting you to verify their identity and confirm they actually need the money before sending anything.

Remember, a bank will never ask you for sensitive information or instruct you to press a button over the phone. Don’t hesitate to say, “Hold on, I need to do something and will call you back,” then call the bank’s number you know, not the one given by the caller to verify the request.

Additionally, regularly review your bank statements and credit reports for any signs of unauthorized transactions. This is like keeping an eye on your garden — you want to spot the weeds before they spread. Early detection can be the difference between a close call and a financial disaster.

Navigating the financial landscape requires a map, a compass, and a keen eye. By understanding the pitfalls of impulse buying, high-interest loans, and financial scams, we equip ourselves with the knowledge to make wise decisions, ensuring our journey leads to prosperity and peace of mind.

We’d love to hear from you—any questions or strategies you’ve found effective in avoiding financial pitfalls? Let us know!

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Andrew Montlake

Written by Andrew Montlake

Andrew Montlake, better known as Monty, began his journey with an Hons degree in Economics & Politics before starting in the mortgage industry in February 1994. As a main founder of Coreco in 2009, he successfully grew the brand, marketing, and communications, and was made MD in 2019 focussing on the overall vision, strategy, and culture of the company. As Coreco’s media spokesperson, Andrew can often be seen or heard on TV and radio as well as regularly commenting in the national, local, and trade press. He is the author of this acclaimed Mortgage Blog and is well-known for his social media, podcasts, and public speaking. Andrew is now proud to serve as Chairman of the Association of Mortgage Intermediaries, (AMI) as a cheerleader for the Mortgage Industry as a whole and continues to work at the coal face, writing mortgage business and advising clients.

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