“Good cybersecurity practices help protect both your privacy and your money.”
2020 was a record-breaking year for data breaches and cyberattacks with cyber crimes becoming an increasingly clear and present threat, both in terms of the sheer number and sophistication of attacks.
How can you protect your investing practices in a digital world? @lj4sherwood explains some cybersecurity practices to help protect your money. Via @TheStreet https://t.co/bstM83eGMX
— . (@RJPIII) September 8, 2021
The bad guys always appear able to devise methods to steal your personal financial information, according to The Street. It would be very prudent for investors to embrace a few recommended cybersecurity best practices:
- Secure Your Home Wi-Fi & Avoid Public Networks – Cybersecurity starts at home. The best practice is to encrypt your home network, which makes it more difficult for other people to monitor your activities and steal your personal information. In addition, avoid using public Wi-Fi and it may be worth investing in a virtual private network (VPN) service.
- Update Your Operating System – Out-of-date operating systems, browsers and antivirus software make it easier for hackers to compromise your devices and access your personal data. Keeping these up to date is a cybersecurity best practice.
- Use Strong Passwords & Two-Factor Authentication – Do not use the same password across multiple accounts, one compromised account can result in a major cybersecurity threat. In addition, turn on two-factor authentication, when possible, to further safeguard your accounts.
- Beware of Email Scams – Phishing continues to be one of the most prevalent cybersecurity threats. To avoid these scams, the best practice is to never click on suspicious links in an email, especially if you don’t recognize the sender. A good rule of thumb is to never share sensitive information over email, as it can be easily compromised.
- Monitor Your Credit & Digital Footprint – One way to catch financial identity theft early is to keep a close eye on your credit score and report. An additional best practice is to monitor the internet for potentially compromising personal information. For example, you can set up a Google alert for your name, so you’ll receive an email if anything new appears in your search results.
Investors seeking to preserve and grow their wealth can’t afford to ignore the existing threat of cyber crime.
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