Preventing Jugging: Tips to Guard Your Finances
You might have seen recent news media reports about an increase in “jugging” and might be wondering what the heck it is. In this blog post we'll explore what jugging is, why it's a concern, and most importantly, how you can protect yourself.
Understanding Jugging
Jugging is a term used to describe a criminal activity where thieves lurk around financial institutions, to target individuals who've just made large cash withdrawals or deposits. These criminals watch and wait for an opportunity to strike, typically after spotting someone leaving a with a significant amount of cash.
Why Is Jugging a Concern?
Jugging is a concerning issue for several reasons:
Financial Loss: Victims of jugging can suffer significant financial losses, often losing the entire amount they withdrew or deposited.
Personal Safety: Jugging incidents can escalate to physical confrontations, putting individuals' safety at risk.
Emotional Distress: Being a victim of jugging can be emotionally distressing and traumatic, leaving lasting scars.
8 Tips to Protect Yourself from Jugging
At AltaOne Federal Credit Union, your safety and financial security are very important to us. Here are some practical tips to help protect yourself from falling victim to jugging:
Stay Vigilant: Be aware of your surroundings when entering or leaving a financial institution. If you notice anyone acting suspicious or if something doesn't feel right, trust your instincts.
Use Drive-Up Teller & ATM Services: Whenever possible, use drive-up banking services to conduct transactions. This reduces the opportunity for criminals to observe your movements.
Avoid Displaying Cash: Keep your cash hidden from view. Don't make it obvious that you're carrying a substantial amount of money.
Travel with a Buddy: If you're withdrawing or depositing a large sum, consider bringing a friend or family member along. There's safety in numbers.
Utilize Digital Banking: Take advantage of AltaOne's user-friendly online and mobile banking services to manage your finances without the need for large cash transactions.
Safe Deposit Boxes: Consider renting a safe deposit box to store valuables securely. Although storing cash in a safe deposit box is not recommended, it is a great way to store other items like jewelry, stock certificates, etc. Find the nearest AltaOne branch with safe deposit box services by clicking here.
Be Mindful of Your Information: Don't share sensitive banking information or discuss your financial plans in public places where strangers may overhear.
Report Suspicious Activity: If you ever feel threatened or notice suspicious behavior around an AltaOne branch, don't hesitate to report it to local law enforcement and our dedicated AltaOne team.
A Partner in Your Financial Safety
At AltaOne, we're not just here to help you manage your finances; we're committed to ensuring your financial safety too. Our team is always ready to assist you in any way we can to enhance your security and protect your assets.
Our branches and ATMs are in safe, well-lit areas with plenty of surveillance to deter would-be thieves. Additionally, with our online and mobile banking options, you can manage your finances without needing to visit a physical branch, reducing your risk of becoming a target for jugging.
Remember, jugging is a shared concern, and with vigilance and the right precautions, we can minimize its impact on our members. Stay safe, stay aware, and let's continue to work together to protect your financial well-being.
Your financial security is our priority, and together, we can keep jugging at bay and enjoy peace of mind as you manage your finances with AltaOne.
