Managing your bank account from your mobile phone or computer is easy and convenient, which is why according to Statista, 1.9 billion people now use some form of online banking system. With online and mobile banking, you can access your balances at any time, deposit checks, manage your card controls and much more!
Although there are many benefits to online banking it is still important to know how you can actively protect your information and money from cybercriminals that may be targeting you.
Here are 4 easy steps you can follow to protect your assets:
1. Update your passwords
How often should you update your password? It is a smart idea to change passwords every two to three months to avoid unwanted hackers. Passwords should be “strong” with at least eight characters and use a mixture of letters, numbers and special characters. It is also a good idea to never save login credentials on any site.
2. Manage a two-factor authentication
The more protection the better! Two-factor authentication will text or call your phone number and provide you with a security code that you will then use to prove your identification. If hackers got a hold of your bank account login credentials, it would be difficult for them to log in without your second verification.
3. Be aware of Wi-Fi Networks
Your home Wi-Fi should always be protected by a strong password. When using other Wi-Fi networks be cautious about what information you are sharing online.
4. Exercise tools provided by your bank
At Core Bank our online banking and mobile banking app ensures a high level of security by:
- Hiding your full account number
- Timing out your session after inactivity
- Utilizing multiple layers of security that establish strong device and user authentication
- Using the SSL (Secure Socket Layer) protocol for transferring data.