Financial Security in an Online World


In todays world, you can never be too safe or secure. This is especially true with our finances. This will be quite a lengthy article, but isn’t your identity and financial protection worth it?

So let’s talk for a moment about financial security as it deals with our computers and online transactions.

But with all these tips, I have to first say there is no such thing as total security. While we can have good practices, we can never be completely secure. However an ounce of prevention is worth a pound of cure. So lets focus on some preventative measures we can take.

Before anything else, keep your computer secure with the best security software and always update your programs regularly. Find more tips about computer security in my other posts.

Next although a little bit of a pain, you should use a different password for each of your financial websites. And all your passwords should be at least 12-18 characters long and “strong” passwords. A strong password is one which uses both capital and lower case letters, numbers, and special characters when possible.

Jb5md7Ld$3!v1 is a strong password.

Changing your passwords quarterly is also a good practice.
Finally, if you don’t want to remember all these passwords, consider using a password manager like Lastpass, 1Password, Roboform, or a host of others. I have used all of these and recommend any one of them.

The strongest password won’t make a difference if you willingly give your password to an identity thief. So never click on an email stating your account may have been compromised, “click here to change your password”. Never respond to a text message from “your bank”. Phishing emails and text messages are ways attackers try to get your information.

One other simple precaution you can take with online financial transactions is to use one modern web browser for your daily use and a different web browser for your financial transactions. This way, if your web browser gets compromised with spyware it will not be able to affect your financial transactions. I like to use Firefox for my daily use and Google Chrome for financial transactions and specific websites.

Another common attack is for people to send you to a fake website that looks like the real thing.
BaknofAmerica.com is not BankofAmerica.com. Did you catch the misspelling of that website? Would you have caught it in that skinny address bar on your web browser. But if you enter your username and password in the wrong website, you have just been compromised. If you are using Firefox or Chrome, a great add on or extension to your web browser is called WOT or “Web of Trust”. This extension will show you if a website is a fake. It is a community driven plugin that allows ordinary people to rate the trustworthiness of websites.

Another great practice for your online financial security is to open a new checking account and credit card specifically for online use. Get a credit card with a $500 limit so even if your account is compromised the damage an attacker could do is minimal at best.

There’s more you can do, but these tips will get you started on a safer more secure online future.

Aloha,
Arlen

PS- Got more tips, post them in the comments so we can all benefit.

– Posted using BlogPress from my iPad

One thought on “Financial Security in an Online World

  1. By the way, these are just tips. As with anything, please you at your own risk.

    And when in doubt, ask. I’ll be more than happy to let you know what I think or give you any advice I can. šŸ™‚

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