Drawing on three decades of professional banking experience, Charles C. Fawcett IV is the president of private banking at TriState Capital. In addition to leading one of the largest private banks in Pittsburgh, Charles C. Fawcett has co-authored white papers on improving data security through mediating social engineering risks.

Social engineering is the attempt to hack into a data system by exploiting a mistake made by a person with access. Through manipulation such as phishing emails, fraudsters try to trick unsuspecting targets into disclosing private passwords or other information. In order for companies and individuals to protect themselves from social engineering fraud, one should never release any personal financial information in response to an unsolicited call, email, or fax. Consider emails suspicious that warn of consequences, such as termination of your account, if you don’t respond immediately with private information.

Also, it’s important to review bank and credit card transactions frequently for fraudulent purchases or transactions and to report any incorrect or suspicious transactions, even if it is a small amount. Often, financial data thieves attempt small purchases first to see if the cardholder will notice.