cy·ber smart
noun
- Being aware of the motivations and tactics of those who would attack your computer security and adopting measures to protect yourself and the information systems you are responsible for.
Financial institutions and hacking go hand-in-hand these days and keeping your bank account and credit from being the next victim is more important than ever. The safest approach, although the least favorite, is assuming that if your data hasn’t yet been hacked that at some point it will be. Hacking banks and their account holders is the most direct cash infusion a hacker can get…and they know it.
According to Kaspersky Lab, attacks on ATMs alone hit an all-time high in 2017 with malware-as-a-service (MAAS) opportunities. With this service, even hacking “hacks” who have no cybercrime experience can watch an instructional “how to” video on how to target an ATM successfully. With all the relentless email phishing attacks and step-by-step advice on hacking, guarding our finances with common sense protection is something we all need to do. It all starts by being proactive with your accounts.
Here are some tips to keep in mind.
Password security
It’s time to put passion into passwords! Assuming your account will at some point be breached, there’s no reason to make it easier for hackers to break your passwords. Every account deserves a unique password that is eight characters or longer and is a combination of numbers, upper and lowercase letters, and symbols. Try to create a sequence with meaning to make it easier to remember, though not easy to guess or dictionary words. If necessary, write the passwords down. Remember not to leave your written passwords somewhere they are easily found by others.
Two-Factor Authentication
Always use two-factor authentication (2FA) or as also referred to, multi-factor authentication (MFA). In the wake of massive financial hacking, most banks and social media provide 2FA as a second security step and can be easily set-up with accounts. When logging into an account, the bank sends a security code to your phone. To complete the login process, the code is needed as the second verification. It’s a great and easily added security layer, with the idea being that even if a hacker cracks your password, unless they have your phone, they’ll never get the 2FA needed to login.
Keep tabs on your credit report
You can get your credit report from several sources including the three major credit reporting agencies (Equifax, TransUnion, Experian). You can also take advantage of Mid Oregon’s free, secure option—My Credit Score located in Digital Banking. When you enroll you will receive access to your credit score, as well as key information from your credit report. You can also sign up for emails to alert you to changes to your credit report.
Switch to online statements
No more waiting for your monthly statements. With easy online access, keeping tabs on the financial comings-and-goings is an easy way to spot suspicious transactions. Should anything look questionable, it’s much more effective to alert your bank or provider immediately. Taking fast, proactive steps can prevent further damage to your account should it be breached. If you are still receiving paper statements in the mail, we encourage you to sign up for eStatements—everything is printable and your information is archived for 24 months. Sign into Digital Banking and make the secure switch today.
Phishing Scams
Of course, always be on the lookout for phishing scams. These are still common and frequent and are getting more difficult to detect all the time. If you are not expecting a link or attachment, regardless of the sender, just don’t click it.
ATM Skimming
With vacation season almost upon us, we will use more “new” ATMs than normal. When using ATMS, take a quick look to ensure there isn’t a skimming device attached to it. If there is, don’t use it and report it to the financial institution. Also, make sure you use ATMs in well-lit areas and where there is plenty of traffic. Hidden ones or those in dark areas are easier targets for ATM scammers.
Freezing Your Credit
Finally, don’t be afraid to freeze your credit. By law, the big three credit bureaus now must offer free credit freezing and un-freezing. Should you spot something suspicious with your credit, a quick freeze can prevent a whole lot of financial heartache by keeping hackers from doing further damage. Just remember that frozen credit prevents access to your reports for anyone, including you.
Are your debit and credit cards ready for travel?
If you are traveling, let your financial institution know where you are going and when (remember to set up your travel notifications in Digital Banking). Besides reducing the chance of having your legitimate purchase rejected, it can also help us know if someone has gotten your debit or credit card information.
Mid Oregon has a great resource in helping you protect yourself online. Visit our Stickley on Security resource in our Security and Fraud Center. There, you can read timely articles on a variety of digital security topics, including some videos. You can also sign up for news and alerts via email. Get the most up-to-date information to keep your financial accounts cyber smart.
