Ruth to the Rescue: Fighting cyber fears with new habits

DETROIT – There can be a silver lining to the data breaches that have frustrated some of the biggest names in retail and millions of their customers. New research finds many Americans are changing their financial habits, trying to better protect their personal information and their money.

It's not hard to find metro Detroiters who worry about credit fraud. Our consumer unit went to downtown Detroit and, within minutes, found one Grosse Pointe Farms resident who just had a problem.

"Ironically enough, just today I got something from PayPal, a fraudulent charge. So, it's concerning me more and more," said Douglas Runyon.

Poll: Habits are changing

A recent poll from the American Institute of CPAs found more than 4 in 5 of those surveyed have changed some of their habits because of the data breaches. Eighty-two percent admit they've made some changes. That's compared to just 69 percent a year ago.

"It worries me. And as soon as I heard about it, I changed all my passwords and I just stay on alert for things like that," said Southfield resident Tonya Andrews.

Staying alert is one of the best things you can do, but some are going farther. Fifty-six percent of those polled say they use cash or checks more often and 40 percent have scaled back their social media or online presence.

"It's beyond just not putting your information out there because it's already out there. It's being reactive and knowing what the risks are," said Kelley Long, a financial literacy expert with the American Institute of CPAs.

When it comes to social media, those risks include sharing any information that could help someone steal your identity. For example, some women share their maiden names online and then use that name as part of their security profile. Make sure the information you share can't be used against you.

Generation gap

While Millennials are more likely to do business online, people between 55 and 64 years old more often report falling victim to identity thieves. The older consumers aren't as tech-savvy. 

"They just don't know how to take those extra steps to protect themselves. So generational differences, I see everybody being concerned about it. Younger people actually know how to take better care," Long said.

Ruth to the Rescue reminders 

Working with the Better Business Bureau, Ruth to the Rescue has come up with these guidelines to help you protect your credit or debit cards before, or after, you suspect they've been involved in a breach.

  • Stay calm. Consumers are not liable for fraudulent charges on stolen account numbers.
  • Check with the website of the retailer for the latest information. Type the store name directly into your browser. Do NOT click on a link from an email or social media message.
  • On that note- beware of emails that may come into your inbox, claiming to help you deal with the crisis. Those emails could be fake, hoping you'll click on a dangerous link or share personal information.
  • If your card was compromised, you will likely hear from the bank or card-issuer first. If you have questions, call the customer service number on your card.
  • Consider putting fraud alerts on all your accounts. Check with each bank or financial institution on how to do so. You can usually set a dollar amount that
  • will spark a fraud warning, if the company sees suspicious activity.
  • Monitor all your financial accounts carefully. If you have computer access, try checking your account weekly. Do not wait for the monthly statement.
  • If you see a fraudulent charge, report it to your bank or credit card issuer immediately so the charge can be reversed and a new card issued.
  • Keep receipts so you can prove which charges are legitimate.
  • Be careful about how often you use your debit card. If you debit card is hacked, thieves will be stealing your money, and debit cards do not have the same protections as credit cards. Make sure you know what kind of protection your account will offer.
  • Consider having a "dirty" credit card. This card would be used for all public transaction and online purchases. Ideally, you can pay it off each month, and
  • if it's hacked you'll have better protection. Use your debit card for getting cash, and use other credit cards for major purchases.
  • Change your passwords on financial accounts frequently. Also, make sure you create "strong" passwords that will not be easily guessed.
  • When you hear about a date breach, share that information with family and friends, so they can also follow these steps to protect themselves.Â