Cybersecurity Protecting Finances Online

Protecting your finances online

Cybersecurity is always a concern with online banking, bill payment, digital transactions and mobile wallet applications on the rise. Cyber-attack methods are constantly changing which makes protecting yourself online more difficult now than ever. Because we know your data is only as secure as the precautions you take, we are providing tips to help keep your digital financial information secure.

  1. Do you online banking at home. It can be tempting to do your online banking when you’re out and about, but you should never trust public Wi-Fi.
  2. Enable multifactor authentication. By requiring the user to provide two or more verification factors to gain access to a resource such as your online account, you significantly decrease the likelihood of a successful cyber-attack.
  3. Lock your credit scores. By locking your credit score with all the bureaus, no one can open any new credit in your name. In addition, an alert will be sent if something changes in your credit report.
  4. Contact financial institutions directly. Hackers have been known to pose as representatives of financial institutions and will reach out to you through text, email or by phone. If this happens to you, never give out any personal data and always reach out to your bank or financial institution directly.
  5. Enable ‘failed login’ notifications whenever possible. Think of multifactor authentication has a deadbolt to ensure your security. ‘Failed login’ notifications will alert you to potential harmful activity by hackers.
  6. Protect your devices. We recommend these 5 steps:
    • Make sure to install and update antivirus software.
    • Make sure your firewall is turned on.
    • Keep your operating software updated.
    • Use caution when downloading documents and/or attachments.
    • Clear your cache and browsing history.

Awareness and education are extremely important in keeping your information secure, and by taking just a few simple precautions, you can protect your online finances from the bad guys. For additional resources check out the following websites:

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