Security Tips for Online Banking
Effective ways to stay secure
Online banking is one of the fastest, most efficient forms of monetary transaction these days. Statista, a company specializing in market and consumer data, reports as many as 1.9 billion individuals were using online banking services in 2020 worldwide. But, is it secure enough?
Here's what YOU can do:
- Enable two-factor or multi-factor authentication. This drastically reduces the chances of your bank account getting hacked. This security tool is hassle free and simple - you can usually access it by a single touch on your smart phone.
- Use unique and strong passwords. Use a mix of uppercase letters, lowercase letters, special characters, and numbers to create a unique password. And don’t use the same password everywhere!
- Avoid public Wi-Fi. When banking online or handling personal information, always use a secure Wi-Fi connection – NOT public Wi-Fi. Choose secure browsers and operating systems as well!
- Sign up for regular bank alerts and notifications. Monitor your bank accounts regularly and be on the lookout for anything suspicious. Early detection of suspicious activity can save you a lot of hassle in the long run!
- Patch your devices regularly. Update devices and software to the latest version and don’t install apps without verifying their legitimacy first. Only use verified app stores to download apps, like App Store and Google Play.
- Be cyberaware. Avoid scams by learning how to spot tricks that cybercriminals use. Get started by checking out our CyberAware website.