Smart Tips to Stop Money From Being Stolen Through Online Banking

Banking once meant dealing with paperwork and waiting in line. Now, digital banking lets you check your account whenever you want. With features like mobile check deposit, you can simply take a photo and get on with your day.

Almost three out of four people now use online banking each month, which makes managing money easier. But this convenience also comes with risks, so it’s important to stay alert and keep your banking safe.

As online banking has become more popular, cybercriminals have taken advantage, causing a sharp rise in fraud. Account takeovers went up 90% this year, and new account fraud increased by 109%. This is a serious issue as banks move online.

Getting your Facebook hacked is frustrating, but if someone accesses your bank account, the consequences can be much worse. That’s why it’s important to use good security habits to protect your money.

Data breaches and phishing scams can put your money at risk with just a few clicks. But keeping your money safe doesn’t have to be difficult. We’ll go over common mistakes and share easy ways to protect yourself.

If you skip security steps, it becomes easier for criminals to steal your personal information.

Not Enabling Two-factor Authentication

Turn on two-factor authentication to protect your online accounts. This feature adds an extra step by sending a one-time passcode to your phone along with your password. Using 2FA makes it much harder for hackers to access your account.

Not using this setting is risky, often because people aren’t aware of it or forget to enable it. If you skip it, your account is more vulnerable to hackers.

Falling for a Phishing Scam

Cybercriminals are always finding new ways to steal money. They might send emails that look like they’re from your bank or create fake banking websites. Always be cautious and protect your financial information.

Fraudsters are always looking for new ways to steal your money. One of their latest tricks is pretending to be your bank and using fake login pages to get you to enter personal or financial details. Always double-check where you’re logging in before sharing any information.

Scammers try to get your banking login details. If they succeed, they can steal your money quickly.

Using Easy-to-Guess Passwords

When you set up online accounts, use strong passwords. Weak passwords make it easy for cybercriminals to get in. Protect yourself by choosing a password that’s hard for anyone else to guess.

Some best practices for passwords include:

1. Make them at least 10 characters long

2. Include at least one number

3. Include at least one symbol

4. Include at least one upper-case letter

5. Don’t make them personal (e.g., don’t use your birthdate, etc.)

Downloading mobile apps can be risky

Some mobile apps may look harmless but can actually be dangerous. Malicious apps can pretend to be useful tools, but they are designed to steal sensitive financial information from your wallet or bank account.

Unprotected public Wi-Fi can put your finances at risk if you’re not careful

Hackers often target people using public Wi-Fi. If you enter your banking passwords on these networks, your information could be stolen. Avoid using public Wi-Fi for sensitive tasks and never enter private details when connected.

Tips for Improving Online Banking Security

Turn On Two-Factor Authentication

Keep your money safe by adding an extra layer of protection to your online banking account with two-factor authentication. This process, also called multi-factor or two-step verification, is very effective at blocking almost all fraudulent login attempts, according to Microsoft. It can give you peace of mind that your money is secure.

Set up banking alerts to make tracking spending simple and secure

When it comes to intruders, you don’t have a moment to waste. As soon as your account is breached, get on the phone with your bank and lock down access – every second counts! Acting fast can help keep any damage from becoming long-term or irrevocable.

Set up banking alerts to help you keep track of your finances. You can get notifications for things like low balances or login activity through your online banking app.

Use antivirus software and DNS filters to help protect your digital life.

As more people use their phones for banking, it’s important to have reliable antivirus software to protect your data.

Install antivirus software to protect yourself from cyber threats.

Use a DNS filter to help keep your data safe. This tool blocks malicious phishing sites before they can do any harm.

Take Phishing Training Classes

Stay one step ahead of cybercriminals by understanding the latest tactics they use to steal your information. Make sure you’re well-equipped for online security by taking advantage of phishing awareness classes available on the web – and if that’s not enough, we offer customized training tailored just for you! Protect yourself now and stay vigilant against scams.

Learn to spot phishing in texts, emails, and phone calls to protect yourself from scams.

Get expert advice to help your family avoid scams and stay safe.

If you’re concerned about your family’s online safety, we can help. We offer digital solutions to protect your loved ones from cyber threats. Contact us to set up an appointment and keep your family secure.