Keeping your financial information safe online has been a challenge for years, and it is more important than ever. Following are some tips to help you safeguard your information.
1. Use strong passwords and keep them private
One of the best things you can do to keep your financial information safe online is to use strong passwords for your accounts and keep them private. Always use different passwords for different services, as using the same one on multiple sites makes it much easier for criminals to gain access. If they obtain a password for one account and try it on other services, they may be able to wreak significant havoc on your finances and steal your identity.
2. Use multi-factor authentication
Use multi-factor authentication for logins whenever it is offered. This is when a login requires you to verify your username and password, typically by entering a verification code, which may be texted to you or sent to your email address. It provides an extra layer of security so that even if a bad actor obtains your login info, they still need to have that other means of verification. For example, if a verification code is texted to your phone, they do not have your phone in their possession, so they cannot verify the login.
3. Limit your banking to secure networks
It's a good idea to limit your online banking to your home only, although you would still want to ensure that your own Wi-Fi network is secure. If you do have to do your banking on the go, try to only do so from a non-public, secure network to prevent anyone from accessing your info.
4. Watch what you share on social media
You should obviously never share any sensitive information on social media, but other things you may be more inclined to share can also become problematic.
As the Federal Trade Commission (FTC) puts it, "If you post too much information about yourself, an identity thief can find information about your life, use it to answer ‘challenge’ questions on your accounts, and get access to your money and personal information. Consider limiting access to your networking page to a small group of people. Never post your full name, Social Security number, address, phone number, or account numbers in publicly accessible sites."1
5. Don't provide info without https
Before you provide any sensitive information on a website, always make sure the URL begins with "https://". Otherwise, the site is not as secure as it could be. Sites that use "https://" rather than just "http://" are encrypted and can resist potential malware attacks.
6. Use encryption
Using HTTPS sites is part of using encryption, but it doesn't have to stop there. The FTC says, "Keep your browser secure. To guard your online transactions, use encryption software that scrambles information you send over the internet. A 'lock' icon on the status bar of your internet browser means your information will be safe when it’s transmitted. Look for the lock before you send personal or financial information online."
7. Keep your Social Security number safe
Never give your Social Security number out if it is not absolutely necessary, and certainly never give it to a website you don't trust 100 percent. There are very few legitimate reasons that any organization would really need this number. These include loans, credit checks, and employers. In most other cases, it's best to avoid providing it.
8. Keep your devices secure
Only dealing with secure networks and websites is one thing, but you can run into just as much trouble if you don't keep your devices themselves secure. This includes phones, tablets, computers, or any other connected devices you use that have personally identifying data on them. Lock your devices in case they are stolen. Some devices have better security than others. If your phone has a fingerprint lock, for example, use it. Again, use strong passwords to prevent others from logging into your devices and the accounts on them.
9. Watch out for phishing
Always beware of phishing emails, which are emails designed to look like they come from legitimate companies where you already have an account, whether it's your phone provider, your lender, or a retail site that you use. If you click a link from an email, always pay attention to the URL to ensure it is on the company's real domain.
10. Use alerts from your bank
Sign up for fraud and purchase card alerts with Nevada State Bank so that you are notified about any fraudulent activity or unauthorized purchases with your debit or credit card.
It's always important to be careful about your financial information, online and off, and there are always people looking for vulnerabilities using the internet. In the midst of a pandemic, criminals are looking to trick people with messaging related to that, so always be vigilant and help keep your financial information safe.
1. https://consumer.ftc.gov/articles/what-know-about-identity-theft