Fraud vs. Spendthrift

Apparently our family is doing its part to stimulate the economy this holiday season. A few weeks ago I received a fraud alert from Citi via text message and email just a few seconds after my wife made an online purchase:

It was easy to approve the purchase (I responded via text message as you can see from the first image), and we were back to our merry spending ways.

Thank goodness for this technology, even if it was a false alarm. According to this article, fraud detection is getting better with the application of artificial intelligence. However, keep in mind that fraud detection is a reactive measure and that you can and should take preventive measures to safeguard your financial data. Remember to always practice safe online shopping as summarized here. Happy online spending!