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If you’ve ever worried about the security of your bank account, you’re not alone. A recent study reveals that fraud is affecting a growing number of bank customers—and it’s happening more frequently than ever. The good news is that banks are stepping up to combat fraud, and there are steps you can take to better protect your own accounts.

According to a new report from J.D. Power, nearly 30% of bank customers experienced fraud in the past year. This includes everything from unauthorized charges and stolen funds to scams involving peer-to-peer (P2P) payment apps.

Fraud is on the rise, driven by the popularity of P2P apps and the shift toward digital, impersonal financial transactions. As Jennifer White, senior director of banking and payment intelligence at J.D. Power, explains, “You would never hand $100 to a stranger, but in many ways, that’s what P2P payments can feel like.”

Adding to the problem are large-scale data breaches, such as the National Public Data breach, which expose billions of Social Security numbers and other personal information. Scammers use this data to impersonate banks and trick customers into handing over even more sensitive information.

“It’s easy to fall for these scams because they have so much personal information about you,” says Paul Benda, executive vice president for risk, fraud, and cybersecurity at the American Bankers Association.

Fraud Is Happening More Often—and More Than Once

The J.D. Power study, released in November, found that 29% of bank customers experienced fraud in the past year. What’s even more concerning is that 45% of those affected had multiple instances of fraud. “It’s not just happening once,” says White.

Younger consumers—especially those under 40—are particularly vulnerable to fraud. Though they are often more tech-savvy, they also tend to use P2P payment apps more frequently, making them easy targets for scammers.

However, there’s some good news: customers tend to feel positive about their banks when fraud is detected and resolved. A full 92% of customers said they would continue banking with their institution if the fraud was resolved successfully. Only 17% said the experience left them with a negative impression.

Banks Are Fighting Fraud—But Are You Doing Enough?

Banks are investing billions of dollars every year to protect their customers from fraud, but the J.D. Power study suggests that consumers are not always doing their part. While 46% of customers said their bank prompted them to take action to protect their accounts in the past 90 days, one-quarter of customers admitted to doing nothing to secure their accounts during that time.

The most common protective measure was reviewing recent transactions for suspicious activity. But experts warn that this is a reactive, not proactive, approach. Simply reviewing transactions after fraud has already occurred doesn’t fully protect your account.

How to Better Protect Your Bank Account

While fraudsters may be getting more sophisticated, there are simple steps you can take to better protect your bank account from scams:

1. Check Your Bank’s Security Center

Most banks have a “security center” within their website or mobile app, where you can review and manage security settings for your accounts. It’s a good starting point to ensure you’re taking advantage of all available protections.

2. Use Strong, Unique Passwords

Avoid using easily guessable information, like birthdays or pet names, for your passwords. Instead, create strong, unique passwords for each of your accounts. Consider using a password manager to store them securely. If you’re notified that your password was compromised in a data breach, change it immediately.

3. Set Up Alerts

Set up alerts with your bank to notify you about important account activity, such as large withdrawals, changes to your contact information, or failed login attempts. These alerts can help you detect fraud early, so you can take action quickly.

4. Enable Two-Factor Authentication (2FA)

Two-factor authentication (2FA) provides an extra layer of security by requiring you to verify your identity using two methods—something you know (like your password) and something you have (like a code sent to your phone). Many banks now also offer biometric verification, such as fingerprint or facial recognition, for added protection.

5. Update Your Banking App Regularly

Make sure your banking app is always up to date. Updates often include security patches that protect you from the latest threats. Most apps will notify you when an update is available, so be sure to install it as soon as possible.

6. Go Paperless

Switching to paperless billing not only saves you time but also reduces the risk of your sensitive information being intercepted through the mail. It’s a simple but effective way to protect your financial data.

7. Secure Your Smartphone

Your smartphone is a gateway to your bank accounts, so take extra care to keep it secure. Don’t leave it unlocked or unattended, and avoid sharing it with others—especially when making payments. Always complete transactions yourself rather than handing your phone to someone else.

8. Be Wary of Unsolicited Messages

Be cautious when you receive unexpected emails, phone calls, or text messages that claim to be from your bank. Look for red flags, such as unsolicited links, urgent language, attachments, requests for personal information, or pressure to send money via a payment app. If the message seems suspicious, don’t click any links or share sensitive details.

Stay One Step Ahead of Scammers

With global scam losses predicted to top $1 trillion this year, fraud is a growing threat. But by taking proactive steps to protect your personal information, you can reduce the risk of falling victim to these scams.

While banks are working hard to secure your account, it’s important to stay vigilant and take responsibility for your own security. By following these simple steps, you can strengthen your defenses and make it much harder for fraudsters to access your financial information. The more proactive you are, the safer your bank account will be.