Most of us now use digital means to take care of our finances, and yet, this is such a new way for us to handle our money that we don’t have common practices for keeping our financial information safe.
If you were traveling, your friends and family would remind you to keep your cash out of sight. They would advise you to put your money in multiple places and never have too much on hand. These are common pieces of advice.
There is a lot less common advice for keeping your digital financial information safe, and the advice that is out there can sometimes be confusing.
So let’s look at the things you can do to keep your banking information safe truly.
Keep Your Online Browsing Private
There is free wifi everywhere, so why not take advantage of it, right? It’s common for all of us to use free wifi and to even check up on our banking information when we’re doing other things, like out at a cafe using the free wifi. There are plenty of ways for hackers to see what you’re doing and get your financial information on open wifi networks. If you must use free wifi, look into using a safe and reputable VPN (a virtual private network) to keep your browsing safe.
Don’t Write Your Login Information Down
Too many people make this mistake. Sometimes they keep this information in their wallet, which is very dangerous, and other times it’s kept at home, so they think it’s safe. This is a very risky plan. If you must write own your login information, and you can’t keep it in a locked safe, then at least write it down using a mnemonic device or other code, so it’s less obvious.
Check Site Security
If you are going to enter your financial information on a website, check that the site is secure! This is easy to do. On your browser, check that the URL has https:// (as opposed to http://). You will notice the added S when you’re shopping on major retail sites. You can click on the green padlock symbol to see their SSL certificate and make sure this is truly the site you’re on.
About The Author
Yuri Vanetik is an Entrepreneur, Private Investor, Coalition Builder, and Philanthropist in Orange County, California. He is the Managing Partner of Vanetik International, LLC, a management consulting firm which offers advisory services and strategic planning to businesses and industries. He is also the Managing Partner of Dominion Asset Management, a technology-driven opportunity real estate fund that invests in undervalued real estate throughout the United States. Yuri Vanetik brings over 20 years of professional experience in a variety of roles, and has been featured in notable publications, including the Wall Street Journal, California Business Journal, Forbes, and Bloomberg Law.