4 Ways to Keep Your Bank Information Cyber Safe
June 3, 2024
In an increasingly digital world, protecting bank information from cyber threats is paramount for your financial security. June is National Internet Safety Month, making it the perfect time to discuss how to keep your personal information cyber safe. What’s most important to know is that cybercriminals use constantly evolving tactics to target online banking tools, meaning that putting security in place one time isn’t enough. Instead, you need to up the game by maintaining robust security measures. In this article, we’ll discuss four specific, practical strategies you can start using today to safeguard your bank information online.
Tip 1: Use Strong, Unique Passwords to Stay Cyber Safe
To be cyber safe, you need to lock people out of access to your accounts. The simplest first step is the most important: create unique passwords for every account and change them often. Here’s what you need to know:
- Avoid common phrases, personal information, or any sequential characters in your password
- Use a mixture of uppercase and lowercase letters, numbers, and special characters, which makes them far more complex and harder to guess
- Update your passwords on a consistent basis, and make sure you don’t use the same password more than once
One way to make your passwords cyber safe and still easy to manage is to use a password manager. Research options to ensure you choose only those with the best reputation.
Tip 2: Use Two-Factor Authentication (2FA) to Stay Cyber Safe
Instead of just having a password to lock people out of your account, enhance your security by requiring an extra layer of protection with two-factor authentication. 2FA works to require a second layer of protection, in addition to your password.
It accomplishes this by requiring a code to be sent to your phone or email to confirm access. There are various forms of 2FA, including the use of biometric verification, SMS codes sent to your phone, and authenticator apps that can create a secure login process.
Be sure to always enable multi-authenticator options at sign-in and ensure they are maintained on all of your accounts. This prevents unauthorized access. Typically, putting 2FA on your online banking platforms will significantly reduce the likelihood of unauthorized account access.
Tip 3: Identify Phishing Emails and Scams to Stay Cyber Safe
Phishing refers to any type of scam in which a person or business pretends to be someone they are not, such as your bank itself. Cybercriminals use fake emails and other communication that seems to come from an authentic source, even your bank itself. Links in those emails send you to the cybercriminal’s fake website, where they can capture your personal information. Spot these risks with a few tips:
- Emails or messages with poor grammar or obvious errors
- Look for misspellings in the URL
- Determine if the email or message is addressed properly to you or if it is a generic message
- Avoid falling for any urgent requests, especially those sent at odd times
If you get an email or message from anyone, don’t click the link. Instead, go to your online account directly through a new browser window. Contact customer service at your bank from that location.
Tip 4: Regular Account Monitoring Practices to Stay Cyber Safe
You can use these easy account monitoring practices to stay cyber safe:
- Monitor your accounts routinely to ensure all accounts and transactions are accurate
- Use mobile banking apps to track transactions in real-time
- Set up immediate alerts from your bank accounts for specific high-risk transactions
- Always review your statement every month
- Report any suspicious activity to the bank directly
Bank Securely With New Valley Bank & Trust
As you navigate the digital landscape, safeguarding your bank information is crucial for maintaining financial security. By implementing the four practical strategies outlined above, you can significantly enhance your cyber safety and protect your personal information from cyber threats. At New Valley Bank & Trust, we’re committed to helping you bank securely. Explore our comprehensive banking solutions and expert guidance to bolster your cyber defenses today.
