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8 Apps and Tools to Help Defend Against Fraud


Published March 21, 2024 • 5 Min Read

While cyber criminals around the world are persistent in their attempts to steal money and data, there are helpful and effective tools that can help reduce your risks. Discover the apps and features available that can help keep you safe.

It’s no secret that fraudsters take advantage of the latest technology to advance their scams. But the people working to stop fraudsters in their tracks work relentlessly to develop tools and technology to thwart the efforts of cyber criminals. Here are 8 tech features that are highly effective in fending off fraudsters and keeping your data and your money safer.

2-Step Verification for Sign-in

You’ll be notified any time you (or someone else) logs into your account, giving you the peace of mind that your accounts and information are safe.

Set Up 2-Step Verification

Protect Yourself From Fraud

Beware of fraudsters who may contact you pretending to be RBC employees.

RBC will never call, text, or email you to ask you for personal information like your account number, PIN, verification code, or password.

2-Step Verification

If a fraudster has gotten their hands on your banking log-in credentials, they may attempt to sign in to your account from their device. With 2-step verification, however, it’s not that easy. With this feature, your bank will send a message to your chosen trusted device whenever a sign in is attempted from another device. If the person trying to sign in isn’t you, you can decline access and stop the fraudster from getting into your account.

One-Time Passwords

One-Time Passwords work in a similar way as 2-Step Verification in that they confirm that a log in attempt is legitimate. In this case, you’ll be sent a password containing a unique string of letters or numbers on one device in order to be able to log in on another device. The password can only be used once and expires after a short period of time, helping to protect your accounts.

Card Lock

Have you ever misplaced your debit card or credit card? Not sure if it’s actually lost or stolen, you may debate whether it’s worth the trouble of reporting it missing – after all, it could just be under the sofa cushions!

With Card Lock, you can lock your card from your phone using the RBC Mobile app. This eliminates the worry your card will be misused and avoids the hassle of cancelling it. When locked, cash advances, withdrawals and purchases – both online and in person – will be declined. And if you’ve found your card? Unlocking it is just as easy.  

Financial Alerts

Signing up for Alerts with your bank is one of the easiest ways you can take charge of your personal financial security. With an Alert, you’ll automatically receive a text message when there is specific activity on your account – such as a purchase, a withdrawal, a payment or a low balance. You can customize Alerts to suit your personal preferences, allowing you to stay on top of your accounts and spot anything unusual right away.

Two-Way Fraud Alerts

Fraud Alerts are slightly different than Financial Alerts in that they are automatic messages sent from a bank’s fraud monitoring centre to confirm a transaction. With a Fraud Alert, you’ll receive a text message when a transaction is attempted using your bank account/ debit card or credit card. The transaction could be for a particularly high amount, at a location you’re not expected to be in, or at merchant that is uncharacteristic for you. Upon receiving the text message, you simply respond to approve or decline it. 

PIN on Mobile

With PIN on Mobile technology, if you’re an Android user you can tap your debit card on your mobile device before inputting your PIN as a way of authenticating yourself on your phone. It’s an additional level of protection that can be used when you’re doing something highly sensitive, such as resetting your Online Banking password. If you’re an iOS user, you can use the biometrics embedded on your device before inputting your PIN.

Digital ID Verification

One of the main objectives of a cyber criminal when stealing data is to commit Identity Theft. This is when a fraudster will use your personal information without your knowledge or consent to commit fraud, such as opening a bank account or applying for credit in your name. With ID Verification technology, however, successfully opening accounts is much more difficult. 

For example, the RBC Mobile app uses artificial intelligence to check a client’s government-issued ID against the security features and characteristics of driver’s licenses and passports. The app also uses Near-Field Communications (NFC) so clients can tap the electronic chip on newer versions of Passports, also known as ePassports. The technology provides more secure identity verification and stronger fraud protection.

RBC Digital Banking Security Guarantee

If you bank with RBC, you’re fully protected against any eligible digital transactions you didn’t make or approve under the RBC Digital Banking Security Guarantee, so long as you fulfill your responsibilities

Protecting your money and your data from fraudsters is easier than you might expect, thanks to the advances in technology that are designed to keep you safe. Making use of the apps and features available can go a long way to keeping cyber criminals away.

This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.

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