How to protect your financial information from hackers?

Cyber SecurityAnti VirusSafe & Security

Online banking and digital payment technologies have made it easier for businesses and consumers to conduct business with their financial service providers. That same ease and convenience, on the other hand, can make it all too simple to become careless. Hackers usually access sensitive financial information through saved passwords, automated transactions, and passcode-free devices. Now, let us find out how we can protect our financial information from these hackers.

Use Secure Passwords

Your passwords must be well protected and strong, most people tend to use the same password for all of their accounts, but it is not advised. Also, do not use simple passwords such as your name@123 or something else that is quite obvious. To construct a password, try utilizing a password generator and keep your passwords updated.

It would be best to create unique passwords for each site and never share logins or passwords with friends or relatives. When information is stolen, it is tough to track down a hacker when accounts are shared. Change your passwords immediately if you suspect any of your accounts have been compromised.

Be Safe When on Public Networks

When there is no password for access, public WiFi is dangerous—and even then, neighboring hackers can exploit WiFi hotspots to steal your data. When using public WiFi, always utilize a personal VPN.

Use Firewalls

Virus protection software should be used in conjunction with a firewall. Every computer comes with a firewall, which acts as a virtual gatekeeper, preventing unauthorized users from accessing your data. Keep this firewall turned on at all times. You can also purchase software that creates a more robust firewall than the one offered by your computer's OS for increased security.

While a firewall provides some security, it is not impenetrable. As a result, you should also use anti-virus software. Not only can good virus protection software safeguard your computer and data against viruses, but it will also help prevent malware and spyware that hackers and identity thieves employ to steal sensitive data from being downloaded to your desktop by accident.

Check Your Accounts Regularly

Check your accounts at least once a week, and put in place processes that require reconciliation at least once a month. Avoid features that automatically download transactions into accounting software; instead, perform a human examination of transactions. These procedures are essential for protecting your company's financial data.

Two-factor Authentication

Everyone should utilize two-step authentication for their online accounts whenever possible. This is an option that most banks and major social media platforms provide. As the name implies, two-step authentication entails entering your password and entering a number only you have access to. The number might be reaching you through your registered email id or phone number.

Use Only Trusted Apps

Only download software from reputable providers with a strong track record. Ensure your software and apps are up to date and eliminate any old apps you aren't using.

Be on the Lookout for Click Baits and Phishing

Hackers use phishing techniques in addition to malware and spyware and take advantage of public WiFi. A phishing email appears legitimate and usually contains a message of some urgency, suggesting that if you do not login into your account immediately using the provided link, your account will be shut down, or your funds will be frozen. Instead of taking you to your financial institution, the link takes you to a skilfully crafted bogus site. If you enter your login and password, the hackers will have all the information they need to access your existing account.


The above are tips and steps that can be used to avoid financial frauds online, but with hackers coming up with something new every day, it is your responsibility to take care of yourself at the end of the day.

Updated on 07-Feb-2022 13:16:33