How to keep your financial data safe
April 10 2018
Hackers, identity thieves and cybercriminals are continuously coming up with new ways to compromise sensitive financial information, so it's important to make a regular practice of protecting your online data. Here are a few ways to help keep your digital details safe and secure.
Pick a financial aggregation tool.
It's a good idea to use different passwords for different accounts and to monitor your financial activity regularly. While keeping track of everything can be time-consuming and downright annoying, there are several aggregation services available that allow you to compile all your information into one easy-to-review dashboard. This allows you to easily view all your accounts at once.
Start using two-factor authentication.
As sophisticated algorithms and phishing scams make it easier to hack passwords, many websites and companies are introducing
. This login process involves entering a one-time code (probably sent to your mobile device) on top of your usual password. Yes, it's an extra step, but the additional layer of security makes it well worth the effort.
Automate alerts and updates.
Most banks and financial institutions offer electronic alerts to ping you via email or text when unusual activity occurs. Stay informed and secure by customizing your settings so that you'll be alerted to things like foreign transactions or charges that exceed a preset dollar amount.
Finally, since many operating system updates contain critical security measures meant to guard against the latest hacking trends, consider enabling automatic updates to ensure your phone and computer are always up to date.
Taking a few minutes to secure your online information could save you lots of trouble in the long run. Please reach out if you have any questions.
"Rule No. 1 : Never lose money. Rule No. 2 : Never forget Rule No. 1." Warren Buffett