Rates of identity theft and cyber scams continue to rise, which means consumers need to be more vigilant than ever before. These disasters can happen to anyone at any time, so it’s important to constantly keep your guard up to prevent against scams.
“The partnership between banks and consumers is more crucial than ever before,” explained Cathy Dunham, Operations Officer at United Bank & Trust. “Though United Bank & Trust works hard to safeguard your financial assets, protecting your accounts and personal information is a shared responsibility. Together, we can help prevent cyber scams and keep your money safe.”
Here are five tips all consumers can implement that, combined with United Bank & Trust’s rigid security protocols, will help reduce your risk of becoming a victim of cyber scams.
1. Create a strong password.
The first step in protecting your finances is to use strong passwords that include uppercase and lowercase letters, numbers, and special characters. This combination creates a powerful first line of defense.
2. Change passwords regularly.
Along with creating strong passwords, it’s also important to regularly change these passwords. Experts recommend changing passwords every three months and using unique passwords for each system. This reinforces security of your accounts and protects your information across multiple accounts and log in systems.
If you’re worried about forgetting your new password, consider utilizing a password manager to store and protect your passwords. Using a password manager makes it easier to maintain long, complicated, and diverse passwords.
3. Don’t share your private information.
Personal data should be kept private. Be cautious with whom you share this information. Never write down your information, especially passwords. Protecting your computer and passwords makes your accounts less vulnerable to identity theft or cyber scams.
4. Enable multi-factor authentication.
Multi-factor (or two-factor) authentication provides an additional layer of security when logging into your online or mobile banking account.
When using multi-factor authentication, you’ll be required to complete an additional verification step after entering your username and password. This may involve entering a one-time code, verifying through an automated phone call, using biometric authentication, or identifying an image. This extra step makes it more difficult for hackers to access your account, even if they have your password.
5. Check your accounts regularly.
Ensure your accounts are safe by regularly monitoring the accounts’ balance and activity. Sign up for banking alerts when available. These alerts will trigger a text or email notifying you of any potentially fraudulent or suspicious activity on your account.
Protecting yourself from cyber scams and identity theft might seem challenging, but by partnering with United Bank & Trust, you can lower your risk. Stay alert and keep these tips in mind to create a strong defense and protect your accounts.
Visit United Bank & Trust or contact us to learn more about the security measures we take to keep your money safe. If you think your account may have been compromised, please report it immediately by calling us at 641-753-5900.