Introduction to Cyber Security
In this digital era, it is a common practice for modern enterprises to be required to be cautious and protect computers, networks, and data against unwanted intrusions. Cyber security is a vital component of any modern business’s digital strategy and ought to be treated seriously by all parties involved. According to a recent ASIC report, fraud losses for big bank clients topped $550 million last fiscal year, in terms of customers that’s over 31,700 people. With cyber risks on the rise, it’s critical to learn how to safeguard yourself and your financial data from malicious attacks. This article will look at five simple actions you can take to protect your financial data from cyber threats.
5 Steps To Keep Your Financial Data Safe
1. Use Strong Passwords: Using strong passwords for all online accounts and services connected to finances or banking activities is the first step in keeping your financial data safe. A strong password should include upper and lowercase characters, numbers, and symbols. Also, remember to update your passwords on a regular basis.
2. Use Two-factor Authentication: When logging into online accounts connected to financial or banking activities, two-factor authentication requires you to input a code given to your phone or email in addition to your password. Even if someone else obtains your login credentials, they will be unable to get in without the second factor (the code/authorisation access).
3. Enable Security Features on Your Devices: Ensure that any devices used for financial transactions are equipped with up-to-date safety precautions such as antivirus software and firewalls. These programmes can aid in the prevention of malware and other harmful software that can be used to steal your financial information.
4. Be cautious on Public Wi-Fi: Avoid utilising public Wi-Fi networks for critical transactions such as online banking or shopping. These networks are not secure, and hackers are simply able to gain access to them by intercepting your data.
5. Keep an eye on your accounts on a regular basis: Finally, keep an eye out for unusual behaviour in all accounts connected to finance or banking. This can assist you in rapidly detecting any fraudulent attempts to access sensitive data and taking the required actions to safeguard it from further harm.
Don’t do this, if you want to keep your financial data safe
• Avoid opening, clicking on links or opening attachments from emails sent by unknown senders.
• Do not keep confidential financial information on your computer or phone.
• Never use the same password for more than one account.
• Never reveal personal information such as bank account details online.
• Do not react to unsolicited requests for personal information, even if the source appears to be credible.
What can be done?
Cyber security is an essential component of safeguarding yourself and your financial data against malicious attacks. Following these simple steps will put you and your team in a better position to keep your financial data safe and secure. Furthermore, avoid unsafe online behaviours that might compromise the safety and security of personal or financial information.
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Boobalan Madhavan | www.accsource.net
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