Thursday, May 30, 2024

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How to keep your financial information secure online

IoT devices have transformed the way we live and work. Helping us to achieve more in less time, there’s no denying the advantage of the digital world. However, being connected also makes us more vulnerable. As we post about our daily lives and habits, shop online more, and provide our personal data to third-party websites, there’s a reason why cases of identity fraud are increasing.

We’ll provide you with some simple ways you can keep your financial information secure and safe while you’re online. 

Use two-step authentication

More and more devices, apps, and websites encourage users to set up two-step authentication. Tools like Google ask for a 6-digit code from the Google authenticator app, as do other sites like Outlook, Facebook, and Amazon.

Two-step authentication adds a second layer of protection and is used alongside a password. This additional layer of protection makes it much harder for potential hackers to retrieve any of your personal information.

Use a VPN

Whether you’re shopping online or you’re transferring large sums of money, using a VPN to do so will provide you with a private network that encrypts your data (, making it virtually impossible to hack. You’ll need to enable your VPN each time you want to create a virtual and invisible defence around your online activities.

Check your credit report regularly

Did you know you should check your credit report regularly? By doing so, you’ll be alerted to any suspicious or fraudulent activity happening in your name. Tools like Experian and Clear Score help you keep track of your credit score.

They’ll also help to see if you can boost your score. Credit scores play an important role in everyone’s financial futures as they not only impact lending eligibility for things like mortgages and loans      but      can also affect mobile contracts, car insurance, and bank accounts.

Be mindful of what you post online

If you’re a regular social media user, you may have taken an innocent snap of your freshly painted front door, or perhaps you’ve had a big birthday, and numbered balloons were involved. While      these happy snaps may look great for the gram and      all your followers, they’re also a great way for scammers and hackers to get a hold of some of your most vital information, like your house number and date of birth.

It’s always wise to be mindful when posting online. You can also make sure your social profiles are private and that you only add people you know.

If you think your financial information has been compromised, you should contact your bank immediately and change all your passwords.

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