Cybersecurity tips to protect your financial data

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Use secure online banking platforms

Although online banking may seem inherently secure, there are always ways criminals can gain access to your information. It is particularly important to think carefully about the financial services platforms you use if you hold crypto, given the frequency major thefts and offenses seem to happen. To help protect your data, only use banks and financial institutions that have strong online security protocols in place. Also, make sure that you only access your accounts from secure and trusted devices and networks.

Keep your passwords safe

The first and most important step in ensuring the security of your financial data online is to protect your passwords. This means using strong, unique passwords for each account and never sharing them with anyone.

To create strong and unique passwords, use a password manager like LastPass or 1Password. These tools will generate and manage strong passwords for you, so you won’t have to remember them all yourself. Also, always make sure you use your bank’s 2FA procedures and, although they are potentially inconvenient, resist the urge to disable them. 2FA makes a big difference, especially when you understand how many cybersecurity risk factors financial institutions often forget.

Keep your software up to date

Malware and viruses can be a big problem when it comes to protecting your financial data. However, keeping your anti-virus software and anti-malware programs up to date will help protect you against these intrusions.

Software vendors regularly release patches and updates as they have found vulnerabilities in their coding that you should be aware of. Outdated software is one of the most common ways users’ computers are infected with malware. So be sure to check for updates regularly and install them as soon as they are available.

Keep an eye on your credit card transactions

Monitoring your credit card transactions for suspicious activity is an essential step in protecting your financial data. Signing up for fraud alerts with your credit card providers and alerting for strange or unknown transactions will help you stay on top of any potential problems with your account.

Beware of phishing emails

There was a marked increase the number of phishing attempts for personal banking information in recent years. To protect yourself and your data, always be on the lookout for emails that promise free gifts or other financial incentives if you enter your banking information. Also, never share your personal information with unknown sources online because they may actually be criminals trying to gain access to your accounts.

Beware of online shopping sites

Although shopping online is convenient, it is important to be careful when entering your financial information into our cashless economy. Make sure you only shop on sites that are secure and that you trust. Also, always use a credit card for online purchases rather than a debit card, as credit cards offer better protection against fraud.

Do not use open Wi-Fi networks

Avoid sending and receiving sensitive financial data when using the Internet in places like coffee shops or airports, as these types of public Wi-Fi networks are often not secure. If you must use public Wi-Fi, make sure you only access encrypted and trusted websites.

Do not save credit card information online

Many online stores offer to save your credit card information to make future purchases easier. However, this leaves your financial data vulnerable to hackers and other criminals. Instead, save your information only on sites that you trust and that have a good security protocol in place.

Keep an eye out for sketchy apps

With the growing popularity of mobile banking and shopping, criminals are increasingly trying to find ways to steal your information through apps. To protect yourself, always do a quick search on the App Store before downloading any new banking or finance apps, to make sure they’re legit and safe.

Get reports from credit monitoring agencies

There are a number of credit monitoring agencies you can register with in order to stay on top of your credit score and report. This is important not only to protect your financial data, but also to detect any errors or fraudulent activity that may have occurred without your knowledge.

Conclusion

By following these simple tips, you can help protect your financial data from intruders and criminals. Whether you’re doing your banking online or just shopping online, always be vigilant and thoughtful about how you use the internet to avoid any potential problems with your money or credit score.

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