Online banking is a convenient way to manage money without the hassle of bank closing times or waiting for a cheque to clear. Yet there are risks with accessing financial information over the internet that shouldn’t be ignored. Numerous cyber criminals browse the web looking for personal data that can yield a cash payoff. All it takes is a few security oversights to make your account easy to hack and to turn you into the next target.
How to Stay Clear of Hackers
At Reputation Defender we warn our clients about the dangers of personal information becoming publicly available through careless online privacy. Data leaks can cause reputational fallout and they will also help a hacker to access your bank accounts and fraudulently transfer money. Here are some of the most important precautions you should take to stay safe whilst banking online:
• Avoid Public Networks – Never access a bank account on a public computer or a free Wi-Fi network. These are inherently insecure and may be regularly monitored by cyber criminals.
• Bank on a Single Device – Keep your banking limited to a personal laptop or an iPad that isn’t used by children or other people who may be careless online.
• Use Secure Passwords – A strong password is one that combines numbers, letters and symbols, but does not include any guessable information such as birthdays, names or addresses. It’s a good idea to change your password several times a year. If you have trouble remembering complicated passwords, invest in a password manager.
• Avoid Phishing Attacks – One common online scam is a fake notice advising that an account is insecure or the password has been reset by someone else. If you receive an unsolicited notice like this, never click on the link contained in the email. It likely contains a virus that will allow the scammer to steal your banking details. Instead, sign in via another secure app or call the bank to check your account status. Do not give out financial details in an email or over the phone. If someone is asking for this information they are not from your bank; they are a fraud.
• Keep a Close Eye on Accounts – Check into your account regularly to make sure you recognize all the transactions. Report any suspicious activity immediately so your bank can take action before further hacks take place.
• Set Privacy Controls on Social Media – This might not seem important for banking, but poor privacy elsewhere on the web can give a hacker the answer to many security questions (such as your mother’s maiden name, the name of your pet, your first car etc.). Details like this quickly become a reason for a thief to target your account.
• Protect Your Pin – Never give your pin to anyone, even someone you trust. Take measures to protect your pin in physical locations by shielding the console and checking for observers.
• Shred Physical Documents – Documents containing account numbers, social security numbers or any type of personal information should never be thrown in the trash.
Statistically, only a small number of people get hacked, yet this doesn’t mean criminals aren’t already checking out your account looking for a way in. Any account can be breached given enough time and effort, so the key is to put enough security measures in place so that criminals will lose interest.