Tips for securing your online financial accounts

While online transactions may seem easy, they are very susceptible to cyber scams, which may spell catastrophe for your money in particular. It encompasses account hacking, data breaches, and identity theft, among other things. Because hackers are very clever, we must exercise extreme caution while doing online transactions. You must safeguard your bank accounts, and one method to do so is to follow these five easy recommendations.

Create a robust password

Password configurations are your first line of protection, and they should not be treated lightly. Attempt to make it as opaque as possible. Never associate it with your personal information, such as your birthday or that of your spouse. You may use any combination of symbols, numbers, and upper-and lower-case numbers that makes no sense. Additionally, it may be a random topic expressed via signs and symbols. Always use a password manager and, most importantly, update your passwords often. Additionally, you may read our blog post on The Password Commandments for additional ideas.

Prior to transacting, get verbal confirmation from the broker or bank

When making an online transaction, ensure that any money transfer requests made to the bank are accompanied by verbal confirmation, at the very least over the phone. Additionally, you must ensure that your bank and broker recognize your voice and contact you before any transaction.

Take care when using WiFi

Ensure that your home WiFi is password-protected at all times. Additionally, we recommend that you consider subscribing to a reliable and secure VPN service to protect your data from being intercepted.

Using a secure VPN such as NordVPN may help make public WiFi safer, particularly while traveling and intending to conduct a transaction. Using public WiFi alone can put your money at risk, which is why it is much safer to utilize a secure VPN connection.

Limit automatic bill payments

Even if you are unable to check your monthly bills regularly, it would be good discipline to put restrictions on auto payments so that you have a low risk of encountering fraud. Additionally, it is essential to be very careful in all transactions.

Be cautious when posting on social media

When using social media, you must exercise caution in the way you handle publicly posted posts and private communications, particularly on Twitter and Facebook. Avoid stating your personal information on the website as much as possible to prevent hackers from gaining access via you.

If you want to make a transaction, never forget to check the website’s privacy policies to guarantee the protection of your financial information. As the adage says, “Think before you act.” It is never incorrect to do business online. You just need to ensure that you have a strong VPN connection before initiating this transaction.

While online financial transactions are inherently vulnerable to cybercrime, these basic steps, combined with a secure VPN provider, may help you enjoy a safe online transaction. Always keep this in mind to get the best transaction possible.

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