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How to Keep your Money and Accounts Secure Online

With online banking and shopping convenience, more people are using the Internet to carry out financial transactions and make purchases. However, at the same time, cybercriminals are looking to take advantage of vulnerabilities to steal consumer money, identities, and passwords.

Tips to Secure Yourself Online

Here are some helpful tips for keeping your money and information safe when using the internet:

Never assume all links are authentic

You should manually enter the URL rather than click on a link, especially when going to an online bank, retailer, or payment website. Avoid visiting sites by clicking on:

Emails with links
Posts on social networking sites
Chat room communications
Ad banners that appear on dodgy websites
Links that have been sent to you by strangers

Verify the URL

When accessing a web page that asks you to enter sensitive information, carefully ensure that the address of the page displayed on the browser matches the page that you wanted to access. Do not enter any information if the URL appears suspicious or consists entirely of random characters and digits. Last but not least, make sure the website is SSL protected – never enter any sensitive information on websites that don’t have a little lock icon next to their URLs.

Avoid fraudulent communications

Most financial institutions never email clients, encouraging them to

Send private information via email
Visit their website to obtain authorization.
Fill out personal information in pop-up windows.

Use your personal computer and Internet connection

When you need to access online banking services or online shops, try to avoid using public computers at Internet cafes, airports, clubs, hotels, libraries, or other areas. These public computers and WiFi routers can be running several spyware applications. If so, these malicious apps could intercept Internet traffic and record everything you input on the keyboard, including your passwords.

Even if you use your personal computer for online transactions in public, you should always use a reliable VPN like Surfshark. It’s also a good idea to use a VPN on your mobile phone too.

Avoid using your primary credit or debit card

These days, many banks offer their clients the option to use a unique card just for online purchases. With this virtual card, you can set a lower credit limit on your "online credit card" or have a smaller balance on your "online debit card." Another great thing about these virtual cards is that their details change regularly, providing another layer of security.

Remove vulnerabilities from your operating system and applications

Always check to see if your computer's operating system and any installed software have the most recent updates. This will minimize operating system and application vulnerabilities that could be exploited by malicious software and attacks. Security is crucial whether you are using the most recent OS, Windows 10 or Windows 11. That is especially the case with Windows OS products, as they are often targets of vulnerability exploits.

Keep track of your banking and credit card activities

Charges may occur without your knowledge if your credit card information is compromised. Check your monthly statements for any suspicious activity. In the event of unrecognized charges, get in touch with your bank immediately.

Restricting the countries your credit card is allowed to operate in is an excellent way to safeguard your money when shopping online. When you need your card abroad, just reset the settings.

Identify internet scams

Not all threats exist only on scam websites. You can experience scams and phishing via phone calls, email, instant messages, and SMS. Scammers frequently attempt to appear legitimate, such as a reputable company or authority. While stealing money is typically the target of online scammers, criminals are also highly interested in acquiring personal information to carry out other scams.

Avoid online scammers and be cautious whenever a website asks you to act quickly or presents deals that seem too good to be true. Any request for money sent by unknown parties should be regarded as potential online fraud. The same holds for requests for personal information like passwords or financial details. You will never be asked for them by a reliable source.

Install antivirus software on your devices

Viruses can potentially infect your device through spam emails and scam websites. Your passwords and financial information may be captured and used by criminals to steal money from your bank account. Use antivirus software that stops malware from entering your computer and mobile device to protect your money and data.

Make strong passwords

Make sure the passwords you use for your financial accounts contain a mix of upper- and lowercase letters, digits, and unusual characters. Never use the same password for all of your accounts. Although updating them every three to six months is a smart security practice, you might need to set them up regularly. You can review any passwords that your web browser has stored in its settings.

Know how to use social media

Your social media profiles may contain clues about your personal information, such as your zip code, date of birth, or mother's maiden name, that online criminals can use to access your financial data. Be selective about the personal information you share with your followers, set your account to private, and only interact with people you know.

Implement two-factor authentication

Two-factor authentication adds another level of security for you. Most banks, large social networks, and government agencies provide this option. You'll have to enter your phone number and/or email address by selecting this. You will need to input a code or series of digits that only you can open your account. You can receive this secret code by text, phone call, or email. Another option is to use a mobile app like Google Authenticator.

Clear Your Cache

Your browsing history contains easily trackable personal data. The information that online criminals acquire from your browsing history can be used to tailor their cyberattacks. For example, they can email you a link to a bogus website that resembles the one you frequently use to get your username and password.

Click on the three dots in the top right corner of the page in your browser to clear your cache.
To clear browsing data, look for "history" or "additional tools."
Click on the boxes for browsing history, cookies and other site data, and cached pictures and files after selecting the time range (ideally All Time).

Practice this every two to three weeks.

Conclusion

In the end, security and privacy are interlinked, therefore you should develop the practice of protecting both. After you take care of the security of your devices, all that's left to do is to adopt critical thinking and follow privacy-preserving practices online.

Be cautious when clicking links in emails and on social media. Make your accounts secret and avoid sharing information that you don’t want others to learn about. Your primary email address and phone number should remain secret. Use a burner email account for online activity so that if your account is compromised, it isn't connected to a crucial personal account like a bank or another important one.

Once you've established a skeptical approach when using new apps and services, you'll be well on your way to avoiding numerous privacy-invading practices.

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