Consumer Fraud Prevention
As the ease of making financial transactions with a swipe or a tap is second nature and our lives are more digital, criminals are finding new ways of committing fraud. Scam attempts that play on your emotions and seek to gain your trust are becoming more frequent and more effective.
When you initiate an interaction with KeyBank, we may ask for your information, such as the last four digits of your Social Security number, login ID, or a one-time passcode to verify your identity. However, be cautious of unexpected requests by phone, text, or email for full Social Security number, login ID, or other personal information when the communication was not initiated by you. Verify these requests by contacting a known KeyBank resource (e.g., a local branch, 1-800-KEY2YOU®) before providing any sensitive information.
Here’s how fraudsters might contact you and what you need to know to protect yourself.
Vigilance is your best defense in protecting yourself. Here are some simple tips you can follow to avoid the most common types of fraud.
- Monitor your accounts regularly for suspicious activity, including setting up account alerts. In online banking, you can manage alerts in your profile under Account Settings. In the mobile app, look for Alerts under Settings. Report any suspicious activity to the bank immediately.
- Never share your account passwords, PIN, one-time passcode, Social Security numbers, or credit or debit card numbers.
- Create strong passwords that contain numerals and letters. Don’t use the same password for multiple accounts, especially across banks or financial institutions.
- Protect your login information. Do not store it on or even beside your computer.
- Ignore spam. Phishing emails can be very subtle and may contain links or downloads infected by malware.
- Keep your software updated on all your devices, including your operating system and browsers.
To Defend Against Zelle® Fraud:
To Help Protect Yourself Against Check Fraud:
- Use your bank’s online bill pay feature to send payments to merchants or individuals.
- When mailing checks is necessary, go inside a post office. Avoid using standalone U.S. Post Office blue boxes, whenever possible, as the risk of check fraud with the use of blue boxes is greatly increased.
- Do not include unnecessary information on checks, such as your driver’s license number or telephone numbers.
- Avoid leaving large blank spaces in the number or amount on lines on checks.
- Use the entire name of the company when writing or printing checks. For example, if the payee is the Internal Revenue Service, don't abbreviate “IRS.”
- Indicate the amount of the check with numbers and words, and spell out the amount completely. For example, on a check for $2,255.00, write out "Two thousand two hundred fifty-five dollars and 00/100." This makes it harder for fraudsters to tamper with the amount.
- Store your checkbook and checks in a safe, secure place.
- Shred old checks, ATM receipts, and statements before discarding them.
- Do not sign blank checks or endorse payments until the time of deposit.
- Always be diligent about monitoring your accounts for unauthorized transactions and immediately report any suspected fraud to your financial institution.
*Common Scams
Fraud Prevention Resources
Consider the following resources for additional perspective and reliable facts on fraud.
The information and recommendations contained here have been compiled from sources believed to be reliable and represent the best current opinion on the subject. No warranty, express or implied by KeyBank, is made as to the absolute correctness or sufficiency of the information contained. This is meant as general information only; particular situations may require additional actions.
This document is designed to provide general information only and is not comprehensive nor is it legal advice. If legal advice or other expert assistance is required, the services of a competent professional should be sought. KeyBank does not make any warranties regarding the results obtained from the use of this information.
