Finance

How to Protect Your Bank Accounts From Digital Theft


In recent years, there have been amazing advancements in technology. With the rise in technology, however, a wave of digital theft has also been cresting. While banking online is extremely convenient, you need to make sure you are protecting your important financial accounts from digital theft.

Use Strong Passwords

You have heard this countless times before, but it is especially true for bank accounts: you need to create strong, unique passwords. Determined hackers are willing to do a little digging if it lets them into your bank accounts. Passwords that include things such as names of pets or family members or predictable words are easiest for hackers to guess. Avoid these types of passwords and instead opt for passwords that contain a variety of characters—upper and lowercase letters, symbols, and numbers—and that cannot be easily guessed from a basic background of you. If possible, also avoid having password cheat sheets for yourself. These cheat sheets could be very useful for hackers if they get their hands on them.

Go Paperless

Almost all banks allow options for viewing your statements and information online. This is a great alternative in place of printed statements and bank information. Bank statements in the mail make it easier for thieves to steal your identity because they can literally take it out of your mailbox. If you have a strong password and private account, you can be sure that you are the only one viewing your information online.

Keep Your Account Information Private

The more people that have access to your account, the more people can take advantage of that access. The plain truth is that if you tell anyone your information, you cannot be certain who else that person will tell or where that information may end up. Always be very wary about anyone or any business asking for your credit card or bank account information. Make sure that if you are inputting this information somewhere, you are using secure methods.

Digital theft is so scary and serious because it can happen right under your nose. One minute, you can have most of your assets safely secured in an account, and the next minute all of it could be stolen. If you are careful about protecting your bank accounts from digital theft, you can enjoy the benefits of online banking without too much anxiety.

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