Keeping your financial information safe is imperative for theft prevention and financial loss. Hackers gain access to billions of dollars each year due to insecure passwords and easy access to unprotected financial records. Business owners and individuals should invest in fool-proof data communication and storage software. Having more than one type of security makes it difficult for anyone to guess, hack, and infiltrate your online security system. Here are a few tips to help you protect your finances.
1. Use Multi-Factor Authentication
Multi-factor authentication involves using two or more enabled security features to access your account. One factor: authentication is risky, and most hackers can easily guess your password. However, if you were to add a fingerprint, or phone number, along with a difficult-to-guess password, this would help increase your security. This is similar to what online banking institutions require. In order to access your account, you’ll need to verify your identity through several methods. If a hacker provides the wrong information, they won’t be able to access your account.
2. Use Different Passwords
Changing passwords often ensures that no one can easily penetrate your financial records. You should never use the same password for more than one account. Make sure you change your password every few weeks or once a month. If you forget your password, you can always create another one. In the meantime, create a password that makes it difficult for someone to guess. Avoid using personal information such as birthdays, addresses, names, or any identifying information.
Include numbers, capital and small letters, and symbols in your password. Using the underscore feature is a wise choice as well. Don’t use simple phrases or letters. Be creative.
3. Make Sure You Have Virus Protection
Many businesses and individuals make the mistake of not completely securing the information on their servers. A breach online is a breach of your financial information. Having virus protection software can save you hundreds or even thousands of dollars in technical fees. Cyber threats have been around for a long time, reaping havoc and financial ruin. A good antivirus software program can protect your sensitive and private information 24 hours per day, seven days a week, on any server.
Information stored online is secured through secured servers because data storage and security are imperative both to the modern enterprise and online users. The process of using secured servers enables encrypted data communication of sensitive data. Data is backed up constantly, and security patches are often updated.
4. Avoid Public Connections
Connecting your computer or devices to a public network is risky. Most public devices aren’t secure, and anyone can access your information. This includes places like airports, restaurants, hotels, libraries, and schools. These places have minimal network security, which means anyone can easily acquire someone else’s information. Threats and software attacks are easy targets and put you at higher risk of being exposed to the network. Stay away from unsecured websites, even if they’re free, convenient, and accessible.
5. Secure Financial Information: Destroy Paper Trails
Leave no documents behind. Once you have secured your financial records, destroy repetitive information. Some financial information might be mailed or emailed. Invest in a shredder so you can destroy sensitive information that is no longer needed. For information stored on laptops, computers, or cellphones, delete the files, invest in a permanent deletion program, and reset your phone to the factory setting.
Protecting your financial information is imperative. Not only can a hacker steal your passwords but they can also steal your money and your identity. Follow the tips above to make sure your finances are kept safe at all times.
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