From the days of gathering up your documents and queuing in a long line at the bank, we’ve come a remarkably long way. Thanks to the invention of digital banking, our account activity is now just fingertips away! With advancements like mobile check deposit capabilities you can simply snap an image with your device and get back to life’s adventures with ease.
With around three-quarters of the population accessing their banking accounts online monthly, people now enjoy unprecedented convenience when managing money. However, such ease of use comes with certain risks that must be weighed and monitored to ensure secure financial activity.
With the rise of online banking, cybercriminals have taken advantage and caused a dramatic surge in fraud. Account takeover fraudulent activities spiked 90% this year while new account fraud skyrocketed by 109%. This unsettling trend has escalated to unprecedented levels as financial institutions strive for digital transformation.
Facebook breaches can cause a headache, but cybercriminals infiltrating your bank account could bring about complete financial ruin. With the potential for thousands of dollars in losses, it’s best to take proper security precautions so that money doesn’t slip through your fingers!
From data breaches to phishing scams, many of us are rarely more than a few errant clicks away from financial disaster. However, protecting your hard-earned money doesn’t have to be difficult or overwhelming – we’ll examine the common mistakes that could leave you vulnerable and show you how easy it is stay one step ahead.
Neglecting security protocols can invite criminals to access your confidential information
Not Enabling Two-factor Authentication
Secure your online accounts with two-factor authentication and experience the powerful protection it provides! This cutting-edge security feature adds an extra layer of defense by requiring not only a username and password, but also a one-time passcode sent to you via SMS. With 2FA enabled on all your accounts, enjoy optimal safety against potential hackers.
Ignoring this setting can be a grave mistake, often due to lack of awareness or simply being too lazy. However, opting out will leave your account vulnerable; allowing malicious individuals the opportunity to gain access without too much difficulty.
Falling for a Phishing Scam
Cyber criminals are getting increasingly clever in their attempts to scam people out of their hard-earned money. From emails that appear as though they were sent by your bank offering outrageously low rates on credit cards, to seemingly trusted online banking websites – no personal financial information is safe from would-be scammers. Protect yourself and be aware; stay one step ahead!
Financial fraudsters are always looking for new ways to steal your hard-earned cash. In one of their latest tricks, they’re posing as a bank and using fake log in pages to try and trick unsuspecting victims into entering personal details or even sensitive financial information. Be sure to double check where you’re logging in before providing any information!
Beware, scammers are lurking and they’ll stop at nothing to get their hands on your banking login details! They’ll act lightning-quick as soon as they have what they need in order to rob you of your hard earned money.
Using Easy-to-Guess Passwords
When setting up your online accounts, make sure you’re using strong passwords. Weak ones are like wide-open doors to cyber criminals! Protect yourself – choose a secure password that’s hard for anyone but yourself to remember.
Some best practices for passwords include:
- Make them at least 10 characters long
- Include at least one number
- Include at least one symbol
- Include at least one upper-case letter
- Don’t make them personal (e.g., don’t use your birthdate, etc.)
Downloading mobile apps can be risky
Behind their mask of innocence, nefarious mobile apps hide in plain sight. Disguised as friendly task managers and other everyday utilities, these malicious programs are waiting to pounce on unsuspecting victims; banking trojans lurk within the shadows ready to steal sensitive financial information from wallets and bank accounts!
Unprotected public Wi-Fi can put your finances at risk if you’re not careful
Hackers are ever-present, ready to pounce on unsuspecting users at public Wi-Fi hotspots. If you give them your online banking passwords while connected to such networks, it’s like offering an open invitation from a thief—don’t do it! Safeguard the security of personal information by resisting the temptation of free internet access and never entering confidential details in these areas.
Tips for Improving Online Banking Security
Turn On Two-Factor Authentication
Ensure your funds stay safe by adding an extra layer of protection to your online banking account with two-factor authentication. This process, also known as multi-factor or two-step verification, has been proven overwhelmingly successful in blocking virtually all attempts at fraudulent login activity according to Microsoft and can provide you with the peace of mind that comes from knowing your money is secure.
Set up banking alerts to make tracking spending simple and secure
When it comes to intruders, you don’t have a moment to waste. As soon as your account is breached, get on the phone with your bank and lock down access – every second counts! Acting fast can help keep any damage from becoming long-term or irrevocable.
Keep your finances in check with banking alerts! Monitor everything from low-balance warnings to notifications of login activity — all through the convenience of online banking.
Protect your digital life with antivirus and DNS filters!
Don’t be in the dark about protecting your data. With more and more people using their phones for financial transactions, having dependable antivirus software is absolutely essential! So don’t forget to safeguard yourself from cyber threats – get an antivirus program today.
Keep your data safe by using a DNS filter! This special security measure works to safeguard you from malicious phishing sites, stopping them in their tracks before they have the chance of doing any damage.
Take Phishing Training Classes
Stay one step ahead of cybercriminals by understanding the latest tactics they use to steal your information. Make sure you’re well-equipped for online security by taking advantage of phishing awareness classes available on the web – and if that’s not enough, we offer customized training tailored just for you! Protect yourself now and stay vigilant against scams.
Protect yourself from becoming a scam victim by learning how to recognize phishing tactics through text, email and phone calls. Stay one step ahead of scammers!
Keep your family safe with the help of expert advice on avoiding scams
Are you worried about your family’s safety online? Let us help. We offer a variety of digital solutions to keep the ones you love secure from cyber threats. Schedule an appointment today and let’s make sure your family is protected!
