More and more people are learning that they can handle most of their business while online. Not only can you take advantage of online shopping, but you can also pay your rent, utility bills, and medical expenses from the comfort of your own home. It not only saves you time but frees you up for so many other things in your life that you'd rather be doing. However, if you've embraced this life of doing all your banking and business practices online, it is more important than ever that you are actively protecting your identity while using online banking.
Password Protection
It can be very difficult to remember your passwords for all your accounts and online connections and it may be tempting to come up with a simple password that you can use for every account you have. This, however, could be a dangerous practice. Just think; if you use a password based on a personal date, person, or even a pet, cyber thieves could guess that password. Your best protection will be to create strong passwords and change them often. Use an alpha-numeric code that contains eight or more characters and includes upper and lower case letters along with different symbols to prevent hackers from breaking into your account.
Protect Your Social Security Number
One of the most important ways of protecting your identity while using online banking is to protect your social security number. You want to ensure that your social security number is kept private and no one who has no right to it can know it. As a matter of fact, you should protect your social security number even more than your credit card number. Credit card accounts can be closed if their number is compromised but it is nearly impossible to change your social security number. If an identity thief gets it you may have to live with the consequences for the rest of your life.
Watch Out For Phishing Scams
Never respond to an email or any type of online contact that claims to be from your bank. Only deal with your bank when you initiate the contact and go through their secured website. Never click on any link or follow any chain of connections to get to your account. Chances are it's a phishing scam cyber thieves use when they are trying to get your account information. Even if the site appears to be legitimate only connect to your bank through their approved site.
Watch Out For Free Software Offers
Free software packages can be tricks used by cyber thieves. Many of these software offers are designed to go into the background of your computer and track down personal information you might input and send it back to the creator. Chances are that by the time you discover the computer spy is in your device they could have already emptied out your account and be long gone. For those who are protecting their identity while using online banking this is one feature that everyone should pay close attention to.
Protecting your identity while using online banking is more than just securing your money. It is also about protecting your good name and reputation. Just as you would not walk out of a physical bank with your cash money in your hand for everyone to see, you would need to have even more care when you're online. You never know who's watching and that's even more dangerous.