Many clients have asked our opinion about how to protect their personal information when online. While we are not cyber experts, we have learned a great deal about the topic. We are happy to share this Financial Media Exchange (FMeX) article with you as a great source of information on this important topic!
More consumers are conducting financial transactions online and may become vulnerable to tracking, hacking, identity theft, phishing scams, and other cyberspace risks. While nothing can guarantee complete safety on the Internet, understanding how to protect your privacy can help minimize your exposure to risk.
Here are some ways to safeguard your information:
Read privacy policies.
Avoid using weak PINS and passwords.
When deciding PINS, passwords, and other log-in information, avoid using your mother’s maiden name, your birth date, the last four digits of your Social Security number, or your phone number. Avoid other obvious choices, like a series of consecutive numbers or your home town. Also, do not use the same PINS and passwords on multiple sites.
Look for secured web pages.
Use only secure browsers when shopping online to safeguard your transactions during transmission. There are two general indicators of a secured web page. First, check that the web page url begins with “https.” Most urls begin with “http;” the “s” at the end indicates that the site password will be encrypted before being sent to a third-party server. Second, look for a “lock” icon in the window of the browser. (It will not be in the web page display area.) You can double-click on this icon to read details of the site’s security policy. Be cautious about providing your financial information to websites that are unfamiliar. Larger companies and well-known websites have developed policies to protect the rights and financial information of their customers. So, resist the temptation of providing personal information to unknown companies.
Keep your operating system up-to-date.
High-priority updates are critical to the security and reliability of your computer, and offer the latest protection against malicious online activities. When your computer prompts you to conduct an update, do it as soon as possible.
Update antivirus software and spyware.
Keep both your antivirus and your spyware programs updated regularly.
Keep your firewall turned on.
A firewall helps protect your computer from hackers who might try to delete information, crash your computer, or steal your passwords or credit card numbers. Make sure your firewall is always on.
Do your homework.
As the Internet continues to evolve, new risks, along with additional protective measures, will be revealed. However, it is up to you to safeguard your financial information online through education and awareness.
Robert Katz, CFP® Partner, Director of Wealth Strategies
email@example.com | 617.986.5145
Michael Syer, CFP® Wealth Strategist
firstname.lastname@example.org | 617.986.5167
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