The first thing to look for: Any unauthorized transaction on your account statements or in your transaction history. Regularly monitor your transaction history and set up account alerts that help you monitor your finances and keep your account safe. What to do if you see a suspicious transaction.

Other signs of fraud include: Being denied credit unexpectedly, receiving credit cards you never applied for or receiving calls from collection agencies seeking payment for items you never purchased.

The best ways to avoid account fraud include following these steps you can take now to increase your security.

The first thing to look for: Fraudulent emails typically imply urgency, attempting to get you to act quickly before you have time to carefully read and examine the message. They often don't address you by name and contain obvious grammar and/or spelling errors. See an example of a fraudulent email layer.

Other signs of email fraud: If you hover over a link in a fraudulent email (don't click it), it will usually show you that it's pointing to a site different from the one stated in the message. The goal is to get you to click through to a web page where you'll be asked to provide personal information or open an attachment that may be malicious. Immediately forward any suspicious email that uses Bank of America's name to abuse@bankofamerica.com and then delete it. (Please note, we will only reply to your message if we require additional information). What to do if you receive a suspicious email.

The best way to avoid email fraud is to remain vigilant. Never click on a link in an email unless you are absolutely certain who sent the email and where the link is taking you. Remember: We will never use email to ask you for personal information such as your account number, card PIN, Social Security number or Tax ID number. See how to spot email scams.

The first thing to look for: As with fraudulent emails, fraudulent text messages often suggest urgent action, attempting to get you to act quickly before you have time to carefully read and examine the message. They often don't address you by name and contain obvious grammar and/or spelling errors.

Other signs of text message fraud include: Promises of free gifts in exchange for your personal or bank account information. Never click a link in a suspicious text message: It could result in malware being loaded to your phone that sends your personal information to a scammer. Visit the FTC page about text message spam layer.

If you receive a fraudulent text message do not respond to it or click any link in it.

You can also forward any suspicious text message to your cell phone provider at 7726 (“SPAM”) and follow their instructions.