This pandemic has forced everyone to become even more reliant on online banking to do everyday transactions, from paying bills to sending financial assistance to causes we care about. This has exposed our personal data to even more threats. It’s ever more important to know how to ensure safe online banking and retain full control over your personal and financial information.
After all, having your banking details stolen can create a barrage of problems. Hackers can do fraudulent wire transfers to drain money from your account. Identity thieves can use your personal information to get credit cards in your name and go shopping with those cards.
While banks in GA invest in various security measures to ensure the safety of their clients, you still have to do your part in ensuring that your online financial information remains safe. Here are some tips:
1. Create strong and unique passwords
Many people make the following mistakes that make their passwords easier to hack, to without them knowing:
- Using their name, date of birth, address, and other personal information as passwords
- Creating short passwords
- Using simple number combinations and common words
- Failing to update their passwords regularly
These things might make remembering your passwords easier, but they also make it so much simpler for cyber criminals to guess your passwords and ultimately access your online financial information. So the next time you have to create a password for online banking, be sure to follow these tips:
- Don’t use common number sequences (like 1234)
- Do use a mix of lowercase and uppercase letters
- Think of words and phrases no one will guess—don’t use anything obvious like your pet’s name or the date of your anniversary
It’s also a good idea to never store your username and password in your mobile banking apps. Update your passwords on a regular basis—ideally every three or six months—to lower the risks of your login details being decoded or stolen.
2. Don’t use public Wi-Fi
Free internet you might get from cafes and other public places are not good enough to ensure safe online banking. You just never know if it’s secure. Public Wi-Fi Networks pose a lot of security threats, including the so-called “man in the middle” attacks (where cyber criminals eavesdrop electronically on your online banking activities). There is also the problem of malicious hotspots, spyware and malware, and risks of data transmission over non encrypted networks.
3. Sign up for banking alerts
Allow your bank to send you notifications whenever there’s significant activity in your account, such as new credit card transactions, password changes, failed logins, or at going transfers. Notifications can also let you report anything malicious (such as fraudulent purchases) to your bank right away.
Queensborough National Bank and Trust Company invests in the latest technologies to ensure safe online banking for its clients. Still, you have to do your part in being vigilant and protecting your own data. If you get any suspicious emails or phone calls asking for your banking information, please report it to us right away.
