FeaturedHow-toNewsTech

How to Protect Your Bank Account in Wake of Recent Data Breaches

How to Protect Your Bank Account in Wake of Recent Data Breaches

Technology is both a blessing and a menace. It has made our life so much easier, as we can conveniently do almost everything, which otherwise took months, even years. Yet at the same time, it has given rise to a whole different kind of troubles. Cybercrime is a major issue we face today but was unknown 50 years ago. Who would have thought you could put your money online, and lose it without ever physically seeing it? Who would have known that you can upload sensitive material online, and lose it to criminals just like that?

Security Breach

Precautionary Measures to Take

  • Your passwords are the key to your information and accounts. Be sure to use unique combinations.
  • Do not use the same password for multiple accounts.
  • Report any suspicious activities from your account to the bank immediately.
  • Use complex passwords, using alphabets, letters, and punctuation marks. Use both, the upper as well as the lower case
  • Avoid using your credit card on shady and non-secure websites. Only use it on websites that you are sure are authentic.
  • Avoid using private information (such as passwords, e-mail addresses etc.) on public or open WiFi.
  • Do not share such information over a WiFi hotspot as well.
  • Phishing has become an easy way to get into people’s accounts. Never give out personal financial information in an email or over the phone
  • Sign up for text or email alerts from your bank to monitor your transactions
  • Implement a two-step authentication method for big transactions or online purchasing
  • Order a free copy of your credit report every four months
  • Monitor and check for any unauthorized activity
  • Confirm  with your credit card issuer to see if it offers free access to at least some of this information

Security Breach

What to do in Case the Data Breach Happens:

  • First of all, if you think your account has been used elsewhere, report to the bank and get the location of places when and where it has been accessed from
  • If you think your account has been breached change your passwords immediately and log out of all other devices
  • Call your credit card issuers and bank immediately so that they can close your account and clear your name
  • You can consider placing a victim statement in your credit card report
  • Make sure to keep a track of all the contacts you make with authorities
  • Write down their name, titles, and phone numbers because  you could require to contact them again or refer to them later

Read Next: Google+ is shutting down for consumers after a potential major data breach

Related Articles

Close
Close