As the world is constantly changing, consumers are as well. As a society, we are living our lives online more than ever before, whether that be through banking, working, staying in touch with family and friends, shopping, the list goes on. We are exchanging and digesting information at an incredible speed and we often don't give it a second thought when doing so. Everything is at our fingertips, making life easy, but also leaving us more vulnerable than we'd care to think. Technology is to thank for much of the simplicity in our lives, however, as a result, we now must take security measures more seriously, especially when it comes to our financial information. While many of us depend on our mobile devices to keep our accounts safe, no matter how careful we are, anyone can be a target. Financial institutions implement countless security measures to keep information protected; however, it is still important to practice strong security habits in our daily lives.
Regarding your banking security, the most important thing to know is that banks will never ask for your mobile banking password, full social security number, or your account number over the phone, in a text message, in an email or in a letter. You should regard any of these requests as fraudulent and report them. Keeping your devices safe is also important. Install an industry-approved anti-virus software on your computer and mobile devices and update it frequently. Avoid using public Wi-Fi networks to access your account or other sensitive information at places such as cafes or public libraries. These networks typically do not have adequate security controls in place which could provide hackers the opportunity to easily collect your information. If you suspect fraudulent activity has occurred on your accounts, contact your financial institution as quickly as possible to mitigate any negative outcomes. By arming yourself with knowledge and regularly practicing strong security habits, you are less likely to be a victim of hackers.
Four simple tips for keeping your information safe
- Be cautious of phishing scams in emails, letters, phone calls and text messages. If you can’t verify the sender or the caller, don’t click on suspicious links or attachments and don’t give out any of your personal information. Hackers take advantage of individuals by posing as someone they may know, such as a new employee at their bank, asking for information.
- Use strong passwords and usernames and frequently change them. Create passwords with a combination of capital and lowercase letters, numbers, and symbols, as well as abbreviations or unrelated words. Use answers that only you know for security questions. For example, if you are the oldest child in your family, select the question, “What is the name of your oldest sibling?” Make up a name or use the name of an object instead. Keep an organized password book rather than storing passwords on your devices.
- Enable two-factor authentication on all your mobile devices. This setting will notify you if someone is trying to gain access to your devices without your permission. If you use mobile banking or mobile payment apps, turn on notifications so you receive alerts if there are any changes to your accounts.
- Frequently monitor all your accounts — both financial and social media. Be cautious of what you share online — don’t post anything pertaining to finance or your personal information. Making a habit of routinely checking your accounts can help you catch any suspicious activity as early as possible.
When it comes to protecting yourself in today’s ever-changing world, it can be overwhelming to know where and how to start. Understanding and practicing these basic tips can prove to be more beneficial than you may think. If you are concerned about your privacy and information’s safety, contact your financial institution and be sure you are up to date on their security measures.
Royal Banks of Missouri: Investing in our communities one client at a time.
At Royal Banks of Missouri, investing in our communities is our priority. For nearly 60 years, Royal Banks of Missouri has proudly served the St. Louis community. We are locally owned and offer a full range of banking services to individuals and business clients in St. Louis, Northeast Missouri and Illinois.
