‘Tis the season is upon us! Now is a good time to safeguard your finances online! Here are some precautions from FINRA to keep your data secure and finances safe.
Image by Gerd Altmann from Pixabay
Pay Attention
1. Watch What You Click. The best way to protect yourself from a malicious link is to make sure you don’t click on any. Even if you feel confident the link in question is valid, the only way to be 100 percent sure you’re safe is to not engage. Instead of clicking, responding to a suspicious email, or downloading an attachment from an unknown source, go straight to your financial firm’s website or use their app to confirm they sent the information. Any interaction with fraudulent communications increases your risk of loading malware onto your device and exposing your personal information.
2. Use Strong Passwords. Don’t share your passwords with others or leave them unprotected. Use a different password for each of your accounts, and change your passwords regularly. To keep track of and protect your multiple passwords, consider using a password manager—an app that protects online accounts by suggesting and saving individual, strong passwords for each account. Password managers are offered by well-known mobile devices and storage providers.
3. Enable Multifactor Authentication. Enabling multifactor authentication (MFA) can significantly reduce the likelihood of a cybercriminal taking over your account. Unlike single-factor authentication (e.g., a password), MFA offers added protection by using two or more different types of factors—such as a password and a code sent by text message or a physical identifier or biometric, such as a fingerprint, voice or facial recognition.
4. Maintain Device Security. Security software packages with antivirus, anti-spam, and spyware detection features are a must if you engage in online financial transactions. Use up-to-date computer security software, and configure the software for automatic updates and patching. For all devices, install security updates as soon you receive an update notification. Check your computer hardware and software provider’s websites for tips to check and improve the security of your system. And if you’re considering storing your personal financial information in the cloud, research the provider and its security policies thoroughly. Verify that they use MFA and data encryption, and be sure you understand the terms of service, including all costs, before you sign an agreement.
5. Use Your Own Device. If possible, avoid using public computers or devices that aren’t yours to access your financial accounts. Public computers might contain software that captures passwords and PINs, which others can then access. If you do use another computer, be sure to delete your “Temporary Internet Files,” or “Cache,” and clear your “History” after you log out of your account. And use strong passwords, passphrases or biometrics to protect not only your mobile devices but also any financial apps you use.
6. Browse Carefully. When you access your financial accounts online, make sure that you’re on a secure site. A secure website address starts with “https” instead of just “http” and has a key or closed padlock in the status bar. Avoid multitasking on multiple webpages when logged into your accounts; if you must visit another site, use a different browser. Otherwise, you potentially expose yourself to “session stealing.” And when you’re done, always click the “log out” button to terminate access to your account. If you simply close your browser or type in a new web address, other users might be able to reenter the site and view your financial information.
7. Be Cyber Safe When Using Wi-Fi. Many public hotspots, such as wireless networks in airports, hotels and restaurants, reduce their security settings so it’s easier for individuals to access these networks. However, this also increases the possibility that someone could intercept your information. Some hackers will even create their own public networks with familiar-sounding names to lure in unsuspecting internet-seekers. Red flags include slow connections or networks that don’t ask for you to agree to their terms of service. Wait until you can access a trusted, encrypted network to access your financial accounts. And when using Wi-Fi at home, secure your network with the strongest available encryption and a strong password.
8. Review All Correspondence From Your Financial Institutions. Review your account activity and monthly account statements thoroughly as soon as they’re available. Be sure your financial institution has your current contact information and that you regularly receive statements. If you see a mistake or unauthorized activity in your account, contact your financial institution immediately.
Fall Back
Yes, it’s that time of year again in the US! Remember to turn your clocks back one hour (unless you live in Hawaii, most of Arizona, Puerto Rico, the US Virgin Islands, the Northern Mariana Islands, Guan, and American Samoa)!
Finances are covered in my 12-module online course Put Your Mind at Ease.
Each module features a video, a checklist, and a fillable PDF to complete. By completing one module per week, you’ll be on your way to leaving behind a “trail of breadcrumbs” whenever needed.
There are three Live Q&A calls that provide you with a monthly check-in to clarify what’s needed and why this will help you in the long run. Think of it as accountability along the way! There’s a whole lot you can accomplish in 3 months 😉
If you know of anyone who might benefit from this program, please pass along the information found here: Put Your Mind At Ease
Have any questions? Email or check out the website @ The Living Planner As Heraclitus said, “There is nothing permanent except change.” Plan for the Unplanned ❣️Lynn
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