How to Keep Your Money Safe Online
Cybercriminals are always looking for ways to access your money. Whether you’re shopping online, using mobile banking, or sending payments through apps, staying alert is key.
The good news? You can avoid most threats with a few simple steps.
Common Online Scams to Watch For
Before we look at how to stay safe, here are some of the most common online threats:
- Phishing Attacks: Fake emails, messages, or websites trick you into giving away sensitive details.
- Identity Theft: Criminals use your personal information to open accounts or make purchases in your name.
- Malware and Ransomware: Harmful software can steal your data or lock your files until you pay a fee.
- Data Breaches: Hackers break into company databases and steal user info like credit card numbers.
- Man-in-the-Middle Attacks: Hackers intercept data between you and websites, stealing login or payment info.
10 Easy Ways to Protect Your Money Online
1. Create Strong, Unique Passwords
Passwords are your first line of defense. Make them tough to crack:
- Use a mix of letters, numbers, and symbols.
- Never reuse passwords across sites.
- Avoid names, birthdays, or simple words.
- Consider a password manager to store them securely.
2. Use Two-Factor Authentication (2FA)
Add an extra step to logging in. 2FA sends a code to your phone or email, making it harder for hackers to access your accounts—even if they have your password.
3. Stay Alert to Phishing Attempts
Scammers often pose as banks or other trusted services.
- Don’t click suspicious links in emails or texts.
- Always double-check sender info.
- Visit your bank’s website directly instead of following a link.
- Never share passwords or login codes.
4. Keep Devices and Apps Updated
Updates patch security gaps hackers exploit.
- Enable automatic updates.
- Keep your browser, antivirus, and banking apps current.
5. Avoid Banking on Public Wi-Fi
Public networks are easy targets for hackers.
- Use mobile data or a trusted network for banking.
- Consider using a VPN for an added layer of protection.
6. Monitor Your Bank Accounts Regularly
Check your accounts often so you can spot suspicious activity fast.
- Set up transaction alerts by email or text.
- Review your statements every few days.
7. Shop Only on Secure Websites
Make sure online stores are safe before entering your payment info:
- Look for https:// and a padlock icon in the address bar.
- Stick to well-known or highly reviewed sites.
8. Use Credit Instead of Debit Cards
Credit cards offer better fraud protection:
- You won’t lose money directly from your account.
- Many companies offer zero-liability policies.
- Some credit cards allow virtual card numbers for safer online use.
9. Limit What You Share on Social Media
Criminals can use public info to guess passwords or steal identities.
- Don’t post full birthdays, addresses, or bank-related details.
- Adjust privacy settings so only friends see your content.
10. Stay Informed About Cybersecurity
Scams evolve quickly, so stay updated.
- Follow your bank’s blog or newsletter.
- Read reliable sources like FTC.gov for scam alerts.
- Take free online safety courses if offered by your bank or workplace.
What to Do If You’re Targeted by a Scam
Act fast if your info is stolen or your account is compromised:
- Contact Your Bank Immediately: They may be able to freeze your account or reverse charges.
- Change Your Passwords: Start with affected accounts, then update others.
- Report the Incident: File a report with your bank, local police, or the Federal Trade Commission.
- Monitor Your Credit: Get your free yearly credit reports and check for new or suspicious accounts.
Online threats are real, but you don’t need to be an expert to protect yourself. Simple habits—like checking your accounts, using strong passwords, and staying alert—go a long way. Don’t let scammers steal your peace of mind.
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