Protecting your online financial information from data breaches
Databreachesare scary; they expose customers' personalinformationand leave them vulnerable to fraud. The Better Business Bureau (BBB) has tips to help you protect your identity from adatabreach.
Understanding the Risks of Data Breaches
Cyber criminals have two main goals - to steal your money and your identity. Knowing how to spot malicious cyber activities, how they work, and what you can do, are important to help protect yourself and your finances.
Protecting your financial accounts from data breaches means using multi-layer security - strong unique passwords, multifactor authentication, device and network protections, transaction monitoring, and rapid response plans - to prevent unauthorized access and limit harm if data is exposed.
Safeguarding Your Financial Data Online
Safeguarding your financial data online is not just a matter of choice but an imperative driven by alarming statistics and data breaches. A survey by Deloitte found that 79% of organizations have cybersecurity insurance. Consult with your financial advisor to ascertain the appropriate coverage tailored to your needs.
What to Do if You're a Victim of a Data Breach
Scammers use email or text messages to trick you into giving them your personal and financial information. But there are several ways to protect yourself:
Such details provide a deeper understanding and appreciation for Protecting Your Online Financial Information From Data Breaches.
Conclusion
By taking these steps, you can significantly reduce the risk of becoming a victim of identity theft and financial fraud.
- Federal Trade Commission (FTC): www.ftc.gov
- Better Business Bureau (BBB): www.bbb.org
- American Bankers Association (ABA): www.aba.com
