Cybersecurity Tips for Your Financial Well-being

In today’s digital world, protecting your finances is more than just keeping your wallet safe; it’s also about securing your online accounts and personal information. With cyber threats becoming more sophisticated, financial cybersecurity is essential to keeping your finances protected and your personal information private. At First South, we prioritize your security and want to share some vital steps you can take to secure your finances from online threats.

Create Strong, Unique Passwords

Passwords are often the first line of defense against unauthorized access to your accounts. To make sure they’re secure:

• Use complex passwords: Combine uppercase and lowercase letters, numbers, and symbols to create unique passwords that are hard to guess.
• Avoid common information: Avoid easily guessed information like your name, birthdays, or phone numbers.
• Keep passwords unique: Reusing the same password across multiple accounts can create vulnerabilities. Try to make each password different.
• Consider a password manager: Password managers can help store and organize unique passwords securely. They can also generate strong passwords for you.

Enable Multi-Factor Authentication (MFA)

Multi-factor authentication (MFA) adds a second layer of security by requiring two or more forms of verification before allowing access. This means that even if someone knows your password, they won’t be able to log in without an additional code, biometric scan, or security question answer.

• Set up MFA on important accounts: For any account that offers it, especially your financial accounts, enable MFA to add extra security.
• Use text codes or biometric data: Many accounts can send a verification code to your phone or use fingerprint/face recognition, which is harder for a hacker to access.

Be Aware of Phishing Scams

Phishing is one of the most common ways cybercriminals steal financial information. These scams often involve fraudulent emails, texts, or phone calls that appear to be from legitimate organizations, asking for sensitive information.

• Don’t click on unknown links: Be cautious of unsolicited emails or messages, and avoid clicking suspicious links or downloading attachments.
• Verify email addresses and phone numbers: Legitimate financial institutions will rarely ask for sensitive information via email or text. If in doubt, contact the organization directly.
• Look for red flags: Be wary of messages with urgent language or uncharacteristic spelling and grammar mistakes—common signs of phishing attempts.

Keep Your Devices and Apps Updated

Cybercriminals constantly look for vulnerabilities in outdated software. Updates and patches often include essential security fixes that protect against the latest threats.

• Regularly update your devices: Make sure your computer, smartphone, and tablet software are up to date.
• Update apps: Your banking app and other financial applications should be updated regularly to maintain security.
• Enable automatic updates when possible: Setting your devices to update automatically can help you stay protected without having to remember.

Use Secure Wi-Fi and Avoid Public Networks

Public Wi-Fi can be an easy target for hackers looking to intercept data. If you’re using public Wi-Fi, avoid logging into sensitive accounts or entering personal information.

• Stick to secure networks: Use secure, password-protected Wi-Fi connections whenever possible.
• Consider a Virtual Private Network (VPN): VPNs create a secure connection between your device and the internet, which is especially useful on public Wi-Fi.
• Turn off sharing settings in public: Disabling settings like file sharing and visibility on public networks can reduce your exposure to potential cyber threats.

Monitor Your Accounts Regularly

Consistently reviewing your account activity can help you catch any suspicious transactions early. Most credit unions, including First South, offer online and mobile banking to make this easy.

• Set up alerts for unusual activity: Many financial institutions allow you to set alerts for transactions or login attempts, giving you a heads-up if anything unusual happens.
• Review statements each month: Review your statements carefully to ensure there are no unauthorized charges or transactions.
• Report suspicious activity immediately: If you see anything unusual, contact First South Financial immediately to investigate and take necessary action.

Avoid Oversharing on Social Media

Hackers often gather personal information through social media profiles, which can help them bypass security questions or guess passwords.

• Keep personal details private: Avoid posting your address, phone number, birthday, or answers to common security questions.
• Check your privacy settings: Make sure your social media profiles are set to private, and be selective about who you allow to follow or friend you.
• Be cautious with “fun” quizzes: Some quizzes ask for information that could be used to guess security answers or passwords, so be wary of sharing too much.

Log Out After Each Session on Shared Devices

When accessing financial accounts from a shared or public device, always log out after each session to prevent unauthorized access.

• Clear browsing history: When using public devices, clear your browsing history after logging out to protect your information.
• Disable “Remember Me” options: Avoid allowing shared or public devices to remember your login information.
• Avoid using public computers for banking: If possible, access your financial accounts only from personal devices to reduce the risk of unauthorized access.

Protect Your Accounts with Security Software

Antivirus software and firewalls offer essential protection against malicious software and unauthorized access.

• Install antivirus software on all devices: This software can help detect and block malware, spyware, and ransomware that can compromise your data.
• Keep your firewall enabled: A firewall acts as a barrier, blocking unauthorized access to your network.
• Regularly scan for threats: Running scans on a routine basis can help identify and eliminate threats before they cause harm.

Know How First South Financial Keeps Your Information Safe

We take every possible precaution to ensure your data is secure. Our systems use advanced encryption and secure servers to keep your information safe from unauthorized access. Our security measures include monitoring accounts for unusual activity, using multifactor authentication, and following industry best practices to prevent cyber threats.

Final Thoughts

Financial security is a shared responsibility, and by following these tips, you’re taking essential steps to safeguard your personal information and protect your finances from cyber threats. We’re here to support you with secure banking options and ongoing guidance on best practices to keep your accounts safe. If you have questions about cybersecurity or would like to learn more about our security measures, please reach out to us—we’re here to help.

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