Since the shocking Equifax data breach announced last September, the cyber criminals have been busy! It is more important than ever to protect your finances in the digital world. Paul Fain, president of Asset Planning Corporation, joins with a Sunday Money update on cyber-security.
WHAT ARE SOME OF THE NOTABLE DATA BREACHES THIS YEAR?
- 144 U.S. Universities were compromised by foreign hackers.
- Under Armour’s MyFitness mobile app was hacked and user information was stolen.
There’s not much you can do about the big companies getting hacked. However, you can protect yourself to the best of your ability, which will eliminate a large number of attack angles on your data and finances.
CYBER CRIMINALS ARE ALWAYS EVOLVING THEIR ATTACKS, BUT MANY RELY ON HUMAN ERROR!
Their goal is to compromise a computer or a smart phone.
- Phishing emails are designed to trick you into divulging personal account information such as credit card or bank account numbers, Social Security numbers, etc.
- Spear Phishing emails are sent in mass.
- To sound familiar, the email is crafted to resemble your bank or a co-worker’s email format.
- Booby-trapped PDF file or Word document.
- If opened — installs Malicious Software (Malware) onto your computer.
- Giving hackers remote access to all the files, keystrokes, and passwords.
GIVE US AN UPDATE ON HOW TO PROTECT OUR FINANCES ONLINE:
- Have a separate email for non-important accounts: newsletters, blogs, etc.
- Don’t give away personal information on Social Media.
- Never download mobile apps from unknown sources.
- Backup your data.
- Use two-factor authentication to login.
- Use sophisticated passwords. Random. Combine 12+ letters, characters, numbers. Don’t reuse.
- Also, try a password manager: ex. https://lifehacker.com/lifehacker-faceoff-the-best-password-managers-compare-1682443320
Learn more about protecting your finances by reading Financial Scams Alert by Certified Financial Planner, Suzanne Himes.