How to Keep Your Financial Information Safe Online

​The Internet gives us a lot of conveniences when it comes to money. We can bank, shop, and pay bills from the comfort of our homes. It is important that you keep your personal info safe when you do these things. Fraud and identity theft are popular cyber-crimes, and you don't want to be a victim of either one.

Here are some ways you can keep yourself safe.

Use Secure Sites

When you use banking sites, shopping sites and other financial sites make sure they are secure. While most sites for official banks are secure, it never hurts to check. On the other hand, the Internet has a lot of services that aren't officially banks but can work as one. PayPal and Google Wallet are two examples of this. If you use a service like this, make sure the one you've chosen is secure and trustworthy.

So…how can you know if a site is secure? It's easy. In every browser you use, you can check the security certificate of any site where you will be entering sensitive information. Security certificates do two things:

1. Allow encryption (explained below)
2. Verify the site's identity. In other words, proves they are who they say they are.

Look at the address bar of a website – if a site is secure, there should be a "lock" symbol at the left or right of it, depending on the browser you're using. Also, the site's address should start with
https instead of
http. If both are true, you're safe! Any info you send through the site will be encrypted. This means it'll be "scrambled" so that it is not clear what the information is to attackers.

Be very careful if you don't see a lock symbol, or if:

• It is not locked, has a small yellow "caution" symbol, or is crossed out (Chrome)
• You get security warnings when logging in to the site (Firefox and IE)

Not all websites have a green lock. If a site that normally does suddenly doesn't, it may help to avoid that site for a few days until it's corrected.

Be Careful With Personal Information

Avoid putting your entire life online. You should never publicly post financial info such as your bank account number, credit card number, or PIN number. You should also be careful not to share too much personal information because it makes you more vulnerable to fraud or identity theft.

Avoid Phishing

Phishing is when an online scammer tries to get your personal info by getting you to trust them. Phishers may pretend to be a bank, business, or even a friend or family member. Phishing is usually done by email, but it can also be done over social media or in comment sections of websites.

Here are some things phishers will commonly do:

• Have a link within an email redirect to their website. This site may ask for info or install a virus that allows the phisher to take info from your computer.
• Make "spoof" websites. These sites try to look exactly like a well-known site.
• Use URL shorteners like TinyURL and Bit.ly to hide where they are sending you.
• Send emails or messages wanting you to "act NOW," usually with attention-grabbing subjects like "Action required."

It is important to remember that
not all sites that do these things are phishing for your information, but some could be. Just be careful of the information that you are sharing.

Here are some ways to avoid phishing:

• If you get an email from a site telling you about something on your account, don't click links right away. Go to the site and log in so you can be sure the email was correct.
• If you get a strange social media message or email from someone you know, call them and make sure it was actually them. Someone could be pretending to be them or may have hacked their account.
• In emails, don't click on links from sites like TinyURL, Bit.ly, or Adf.ly. Anyone can use these sites to hide where they're taking you.
• If the link looks legitimate and you follow it, always check the address bar on the page that opens. If the address is different from where you expected to go, leave.
• If you shop online, make sure you're buying from legitimate companies. If you're not sure about a business, Google search them and see what customers are saying about them. You can also look them up on the
  Better Business Bureau site.

Do It At Home

It may be tempting to shop or bank on your local coffee shop's Wi-Fi, but it's best to do everything money-related at home. Most of the time public internet is not secured by a password or otherwise. This means it's easy for a hacker to snoop on your activities, even on secure websites. So, using a home, password-protected network is your best bet.

Other Ways

It doesn't stop there. Here are some more methods for keeping your information secure, both online and offline:

• Make sure to keep an eye on your bank statements. If there is something you don't recognize, contact your bank immediately.
• Use a strong password. Be sure you don't use the same password for all your accounts.
• Pay attention to your mailbox in real life, too! Thieves like to go through peoples' mail in search of personal info. If you're mailing a check, it might be best to go directly to the post office instead.
• Shred your trash. Thieves will often go through it, looking for financial documents you threw out.
• Be wary of strangers asking for personal info.
• Use antivirus and anti-malware programs and keep them updated.
• Don't have your browser save your password for money-related sites.
• Don't keep all your financial information on your computer. Having a file box or cabinet helps a lot.
• Have your bank alert you if there's been suspicious activity on your account.

Sources:

https://edu.gcfglobal.org/en/internetsafety/

https://bettermoneyhabits.bankofamerica.com/en/privacy-security/protecting-financial-information