Online banking offers convenience, but it also leaves you vulnerable to cyber threats. Luckily, you can take steps to protect your online accounts.
One of the best things you can do is use strong passwords and a password manager. You should also set up two-factor authentication, which will require a second form of identification to log in to your account.
Change Your Passwords Regularly
It seems like we cannot go a few days without hearing about a new large-scale data breach exposing millions of users’ personal information to hackers. These breaches may include email addresses and passwords, which make it easy for cybercriminals to hack into other accounts by using social engineering techniques.
Changing your passwords regularly prevents hackers from accessing your account once they have gained access to one. This helps protect your personal and professional accounts from being compromised by hackers who could use your old password to gain access to other accounts.
Use a Password Manager
It is nearly impossible to go a day without reading about a new data breach or cyberattack. While these attacks and breaches are often out of our control, there are preventative measures you can take to keep your online accounts secure.
Changing passwords on a regular basis, using strong passwords and avoiding common hacking techniques, can significantly improve your security. In addition, using a password manager can make it easier to protect your online accounts. A password manager acts as a vault for all your pre-existing passwords, and allows you to securely store unique passwords across multiple devices.
Set Up Two-Factor Authentication
The best way to secure your online accounts is by using two-factor authentication (2FA). 2FA adds an extra layer of security that makes it significantly more difficult for hackers to gain access to your account.
2FA is an additional verification process that requires a user to provide an authenticator code in addition to their username and password. This method of securing online accounts can be implemented in a variety of ways, from SMS text messages to fingerprint scans and pin codes.
A popular version of 2FA is push-based, which allows a user to verify logins by receiving a notification on their mobile device that includes a range of information about the login attempt such as location, IP address and more. This makes it a great solution for combatting phishing attacks.
Change Your Passwords on a Regular Basis
As the old saying goes, “Your password is like your underwear – change it often.” This is your first line of defense against security breaches.
Make sure you are using strong passwords and a different password for each account, if possible. It’s also recommended that you use password phrases instead of a word because they are harder for hackers to guess.
You should also review your privacy settings and limit the visibility of your personal information on your online accounts. This will help to keep cybercriminals from accessing your sensitive data and compromising your accounts.
Don’t Share Your Passwords
Your accounts are the digital you – containing important personal information, private financial data and personal social media content. Account safety online is crucial and requires a combination of different cybersecurity measures, but the most basic step you can take is not to share your passwords with anyone.
Passwords are a form of identification and if one password is compromised, hackers can gain access to all other accounts with the same email or username. This can have serious consequences, not just for the person whose account was hacked but also for their family and friends.
Use Strong Passwords
Using strong passwords can help make it harder for hackers to access your accounts and personal information. But they can also be a pain to create and remember. That’s why password security best practices are important for consumers and businesses alike.
Don’t use your name, birthday or username as a password because it’s one of the first things hackers will try to guess when trying to break into an account. Instead, try to use a pattern with numbers and symbols or a sentence or poem that you’ve memorized to help you create a strong password that’s still easy to remember.
Keep Your Passwords Secure
There are plenty of perks to online banking, from the convenience of transferring money or depositing a check from anywhere at any time, to around-the-clock customer support. But if you don’t have the right cyber security measures in place, your personal and financial data could fall into the wrong hands.
A secure password is your first line of defense against hackers. It should be strong, unique, and difficult to guess. You should also use a password manager and two-factor authentication to further protect your accounts. And never log in from a public device or wifi connection.