Cybersecurity: Protect Your Finances

October is Cybersecurity Awareness Month, a good reminder that protecting your finances today means protecting more than what’s in your wallet. From online and mobile banking to debit cards, email and everyday purchases, much of our financial lives now happens digitally.

The good news is that staying safer online doesn’t have to be complicated. A few simple habits can make it much harder for criminals to gain access to your accounts or personal information.

Be cautious when your “bank” contacts you

Scammers have become increasingly sophisticated at impersonating financial institutions. A call, text or email may look legitimate, and even caller ID can be manipulated to display a familiar name or number.

Remember, your bank will never ask you to provide sensitive personal or account information through an unsolicited email or text message. Never provide information such as your password, PIN, account number or security code in response to an unexpected message.

Be especially cautious when an unexpected message creates urgency around your account and asks you to click a link, provide personal information, share a security code or move money.

If something doesn’t feel right, stop the conversation. Don’t use the link or phone number provided in the message. Instead, contact your bank directly using a trusted number or visit its website or mobile app yourself.

Protect your passwords

Your online banking password should be strong and unique. Avoid using the same password for your bank account that you use for email, shopping, social media or other websites. If one of those accounts is compromised, a reused password could put your financial accounts at risk as well.

Long, unique passwords are best, and a reputable password manager can help create and securely store them.

Turn on multifactor authentication

Multifactor authentication, or MFA, adds another layer of security by requiring an additional way to verify your identity when signing in.

Whenever your financial institution or another important online service offers MFA, use it. It provides another barrier between your information and someone attempting to access your account with a stolen password.

And never provide an authentication code to someone who unexpectedly contacts you. A security code is meant to verify you, not the person calling or texting.

Think before you click

Phishing remains one of the most common ways criminals try to steal personal and financial information. A fraudulent email or text may tell you there is suspicious activity on your account, a payment has failed or immediate action is required.

That sense of urgency is intentional. Before clicking a link or opening an attachment, take a moment to consider the message. When in doubt, go directly to the organization’s website or app rather than following a link

Keep your devices up to date

Those software update reminders are easy to postpone, but updates frequently include important security improvements. Keep the operating systems, browsers, banking apps and security software on your phone, tablet and computer current. Enabling automatic updates can make this easier.

Protect your devices, too. Use a passcode, fingerprint or facial recognition, and avoid leaving a phone or computer containing financial information unlocked or unattended.

Pay attention to your accounts

One of the simplest security habits is also one of the most valuable: know what is happening with your money.

Review your accounts regularly and take advantage of available transaction and account alerts. If you notice a transaction you don’t recognize or something else seems unusual, contact your financial institution promptly.

When in doubt, reach out

Technology continues to change, and unfortunately, so do the tactics used by scammers. But one of your strongest defenses remains surprisingly simple: slow down.

Be skeptical of unexpected requests involving your money or personal information. Verify before you act. And if you’re unsure whether something is legitimate, contact your bank directly.

Cybersecurity is ultimately about protecting what you’ve worked hard to build. A few thoughtful habits can help keep your financial information more secure.