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MARCH 30, 2020



1. Check The URL

Payment security is crucial for businesses and their customers. To keep your financial information secure, always use a virtual private network when using public Wi-Fi, and never input your credit card or banking information via unsecured websites. Before inputting your sensitive information, ensure that the website’s URL starts with “https,” which indicates that all data communications are encrypted. - Tyler GallagherRegal Assets

2. Make Sure The Website Is Legitimate

Never submit online banking, credit or other sensitive financial information online without first investigating the legitimacy of the platform or website. Be sure to do a deep dive into the digital footprint, including customer reviews, time in business, social media and more. One major slip-up should be enough to direct you elsewhere. - Joe CamberatoNational Business Capital & Services.

3. Don’t Save Passwords To Your Web Browser

I know it is incredibly convenient, but don’t have your Web browser save your passwords. If you want the convenience of a saved password, then use password-saving technology that requires you to enter one master password. If you have the browser save your password, then anyone can access your bank account if you leave your computer unattended. - Aaron SpoolEventus Advisory Group, LLC

4. Use Secure Browsing Options

Many password managers also have secure browsing window options when they detect certain sites. Also, make sure you are not being redirected to a fake website login from, for example, a spam email. Keep your passwords secure within a storage system, and don’t use the same one across all platforms. - Jackie MeyerMeyer Tax, The Concierge CPA Coach

5. Be Prepared For The Worst

While password managers, encrypted Web pages, two-factor authentication and other methods can be used to prevent a security breach, it’s also a good idea to have a plan for when things go awry. Ensure that your account backup information remains accurate, know the process for freezing and reclaiming an account and document your bank’s fraud resolution in case you need to take legal action. - Ryan RosettCredibly

6. Use Multifactor Authentication

Many banks now offer free multifactor authentication as an additional security layer. MFA augments simple username and password security with another way of confirming who the user is by using something they are (e.g., face or fingerprint ID), something they know (e.g., a PIN or one-time text code), or something they have (e.g., a push notification to your smartphone). If it’s offered, use it! - Tim SteinkopfCentrify Corporation

7. Set Alerts

Most mechanisms to keep you safe can be a burden, from reduced ATM and online wire limits to that 24-digit, super-secure password. For the average consumer, the 80/20 is to set up alerts for large transactions and log-ins. That way if someone logs in or a large amount of money is withdrawn, you receive a text. Since banking is fairly slow, you will be able to call and freeze the transaction. - Felix HartmannHartmann Capital

8. Only Give Out Financial Information To Trusted Sources

The first line of defense starts with only giving your financial information to trusted sources and using secure payment methods, such as those that require two-factor authentication. Preventing fraud requires constant vigilance that can be alleviated with precautionary measures, such as setting notifications for credit and debit card transactions and reporting suspicious activity immediately. - Eric ChristensenDigital River 


9. Use VPNs And Trusted Wi-Fi Networks

Create strong passwords and change them frequently. Only access your accounts through a VPN or Wi-Fi networks that you trust, log out when you are done, and always, always use two-factor authentication! If you spot any anomalies, contact your account provider immediately. - Will McDonoughCorestone Capital


10. Secure Your Computer

It is best to keep your computer up-to-date—utilizing security software is perhaps the best precaution. You should ensure you are always running antivirus software and have firewalls turned on, and try to update your operating systems frequently to avoid any dated security loopholes. Security will ultimately protect you from any form of malware that can access your data. - Geanette Rodriguez-OjedaPrestige Finance LLC


11. Create Unique Passwords And Change Them Regularly

It may be tempting to have a single password for all of your accounts, but this is a disaster if anything is hacked. I suggest financial accounts have passwords completely different from any other personal login. Be sure to change them regularly—say every quarter when you sit down to review your finances. - Jared WeitzUnited Capital Source Inc.


12. Use ‘Clean’ Computer Practices


Make sure to install and update your antivirus software. Make sure your firewall is turned on. Keep your operating software up-to-date. Be careful what you download, as it may come with malicious code. Clear your computer and device cache and browsing history so that hackers cannot use the information. Turn off your computer and mobile device when you are not using them. - Frans WiwantoFlywire


13. Use A Password Manager

Having a password consolidator such as LastPass is critical for your online financial accounts. This way you are not only able to keep everything organized but also have it in a secure setting so that others don’t have visibility unless you have authorized it. - Meredith MooreArtisan Financial Strategies LLC


14. Limit Bank Account Access

Limit access to your bank accounts. Rather than allowing organizations to withdraw money, use your bank’s bill-pay solutions to stay safe. Don’t pay all your bills automatically—take time each month to review statements and click the “Pay” button yourself. “A wise man knows the condition of his barns”—check your primary bank accounts at least three times a week. - Joshua SherrardStrategic Navigators Inc.


15. Use Common Sense

I cannot stress enough the importance of not sharing your passwords, making sure they are fairly complicated and changing them frequently. Doing this, working with trustworthy financial institutions and logging into your platforms several times a week will help keep your account secure and allow you to take action quickly. Sonya Thadhani MughalBailard, Inc.


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“A wise man knows the condition of his barns.”

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