Most people worry about their financial information online, but the simple truth is that most banks are extremely secure; hacking and cyber crime opportunities typically come from the consumer side or retailers.
We can’t do much about store security, but small things we do (or forget to do) with our own electronics can make us unexpectedly vulnerable. Smartphones without a password, lack of a firewall on a home computer…. it doesn’t take much to give someone an open invitation to snoop and steal.
Here are a few simple things you can do to protect yourself as a consumer.
- If you use a banking app on your phone, protect that cell phone with a password. If it is lost or picked up by a stranger, this keeps them from accessing your important information. It might be a bit inconvenient at times, but it can prevent a major nightmare with your bank account later.
- Never respond to an email or text about a bank security breach. These are phishing emails sending you to “look alike” websites to capture your email information. If in doubt, call your bank using the number on your most current bank statement.
- Fight off malware on your laptop and devices with a high quality internet protection software. Installing and regularly updating this software on your computer will keep your information safe.
- Never do your banking in a public place using a shared network. Coffee shops, bookstores, if you’re using free WiFi, you could be putting your information at risk.
- Don’t be your own worst enemy. Never changing the default password on your computer, using a weak password that is easily guessed, writing down your password where someone can find it, and not changing your password frequently can put you at risk. The strongest, most encrypted banking software in the world can’t protect you from user error, if you are making your information vulnerable. Change your phone at least annually, and be sure to include at least one capitalized letter, a number and a symbol (such as @ or an exclamation point) in your password.
- Be aware iPhones may be more vulnerable than Android phones to being hacked, but all phones have certain vulnerabilities to malware. An iPhone can be silently controlled using Siri from surprisingly far away, according to this article. Be sure to create your own creative “wake” word to help block this. Android smartphones’ most recent vulnerability is called the “stagefright” hack, which gives someone control over the phone using virus code planted in a video download. This can be prevented by disabling an option called “auto retrieve MMS” in your phone settings to prevent video from automatically downloading, which blocks the malicious code from executing.
Wondering how else you can protect your bank account from your computer, device or cell phone? Ask your banker the next time you stop in a branch. They can share smart tips to keep your financial information safe.