Online Safety & Habits

Protecting your financial information in the digital age

The Importance of Financial Security

As our financial lives become increasingly digital, protecting your personal and financial information is more important than ever. Strong security practices are essential for preventing fraud and unauthorized access to your accounts. This guide outlines practical steps to enhance your financial security online.

Essential Security Practices

Fundamental habits for financial protection

Strong Password Hygiene

Best Practices:

  • Use unique passwords for each financial account
  • Create complex passwords with 12+ characters including numbers, symbols, and mixed case
  • Consider a password manager to generate and store strong credentials
  • Change financial passwords every 3-6 months
Tip: A passphrase (multiple random words) can be both secure and memorable.

Two-Factor Authentication

Two-factor authentication (2FA) adds an essential second layer of security beyond your password, significantly reducing the risk of unauthorized access even if your password is compromised.

Implementation:

  • Enable 2FA on all financial accounts that offer it
  • Use authenticator apps rather than SMS when possible
  • Keep recovery codes in a secure, offline location

Secure Network Practices

The networks you use to access financial information can expose you to potential risks if not properly secured.

Safe Browsing:

  • Avoid conducting financial transactions on public Wi-Fi
  • Use a VPN if you must access financial accounts while traveling
  • Ensure your home Wi-Fi uses WPA3 encryption and a strong password
  • Regularly update your router's firmware

Device Security

Your devices serve as gateways to your financial accounts and require proper protection.

Protection Measures:

  • Keep operating systems and apps updated with security patches
  • Use fingerprint or facial recognition for financial apps when available
  • Install reputable security software
  • Enable remote wipe capabilities for mobile devices

Recognizing Financial Threats

Identifying common attempts to access your information

Phishing Attempts

Phishing emails and messages impersonate legitimate institutions to trick you into providing sensitive information or clicking malicious links.

Warning Signs:

  • Urgent requests for personal information
  • Spelling and grammar errors
  • Email addresses that closely resemble but don't exactly match official domains
  • Generic greetings rather than your name

Remember: Financial institutions will never request sensitive information via email or text.

Fraudulent Websites

Fake websites mimic legitimate financial platforms to capture login credentials or payment information.

Protection Steps:

  • Verify the website address before entering any information
  • Look for HTTPS and a lock icon in the browser address bar
  • Bookmark official financial websites rather than accessing via links
  • Be wary of sites with unusual layouts or outdated designs

Regular Monitoring Habits

Ongoing practices for financial security

01

Weekly Account Review

Set a regular time each week to review all financial account transactions. Look for any unfamiliar charges, no matter how small, as thieves often test accounts with minor transactions before larger fraud attempts.

02

Transaction Alerts

Configure notifications for all financial accounts to alert you to transactions above a certain threshold, international charges, or unusual activity patterns. These real-time alerts can help you respond quickly to potential fraud.

03

Credit Report Monitoring

Review your credit report from each major bureau at least annually to check for unauthorized accounts or inquiries. Consider using a credit monitoring service for more frequent updates and alerts.

04

Prompt Action on Breaches

If you receive notification of a data breach affecting a company where you have an account, change your password immediately and monitor the affected account closely for suspicious activity.