Greetings Campus Community,

As the use of credit cards to make purchases and payments replaces the use of cash, protecting electronic payments becomes more important. Whether you are making payments for your own personal consumption or on behalf of the University, electronic payments need to be protected. The content below provides resources to help protect your money and the University’s money.

The convenience of using credit cards and other electronic payment services is compelling consumers to rapidly reduce their use of cash. The 2019 Diary of Consumer Payment Choice report shows that cash is used about 50% of the time for in-person transactions under $10 (for things like lunch or coffee). For larger purchases of $25 or more, cash is used only 10% of the time.

Cybercriminals are taking advantage of the increase in electronic payments. According to the 2020 Cybersecurity Report from Check Point Research, mobile banking malware attacks increased 50% from 2018 to 2019.

Here are some tips to help you safely use electronic payment sites.

• Enable 2-Step Verification on your accounts. It is easier than you think for someone to steal your password. 2-Step Verification can help keep bad guys out, even if they have your password. With 2-Step Verification, when you sign in to your account, you will enter your password. But then you will be asked for something else. A push or code will be sent to your phone or tablet to verify your identity.
• Verify websites before entering important information. Clicking on a link may not take you where you expect to go. When shopping, banking, or making payments online, manually type in the website name (e.g. .com) instead of clicking on links in an email, social network post or text message.

• Look for deceptive emails and texts. Your bank or electronic payment processor won't ask you to provide personal information or passwords via email, but scammers will. Watch this Consumer Reports video below for examples.
• Ignore phone calls from unknown and unfamiliar numbers. If you receive a phone call from someone who is urgently asking for money, there's a good chance it's a scam. Most of these calls can be safely ignored, but if you want to check, search for the organization's website and find out for yourself. Don't be rattled by threats over the phone.
• Look for the lock icon in your browser. The lock icon in the address bar of your web browser shows that the website you're visiting sends data in encrypted form. Never send money or pay for goods on a site without this important safeguard.
• Public computers aren't for private information. The computers in a hotel lobby or a public library may have a virus that records your activity, including any passwords you enter. Shop and make electronic payments only on a computer that you control.
• Don't use free Wi-Fi when making an electronic payment. The open nature of free Wi-Fi at cafes, airports and other public venues makes it possible for others who are on the same Wi-Fi network to spy on your activities.
• Consider getting a credit card just for electronic payments. If you decide to get a credit card or online account just for electronic payments, make sure the credit limit or available balance is low. This can protect you from a large loss due to online fraud.
• Review your transactions regularly. Online banking allows you to check your account quickly and easily. Take time each day or each week to quickly review electronic payments. If you see charges you don't recognize, notify your bank or payment application vendor (e.g. Venmo, PayPal or Apple Pay) as soon as possible.
• Check your credit reports to help spot fraud. Credit reporting services Experian, Equifax and TransUnion are required to provide you with a free credit report once per year, so try to check one report every four months.

Orlando Leon,
Vice President for Information Technology and Chief Information Officer