Security Corner Blog

Securing your online banking credentials might sound like a chore. However, it can significantly reduce the chances of a fraud event. Follow these tips for better banking security.

1. Choose Strong Passwords

The stronger your internet banking password, the better. That's because hackers can easily crack weak passwords and infiltrate your online accounts. A strong password consists of at least 12 random letters (upper and lowercase), numbers, and special characters such as the "$" symbol.

Passphrases — strings of words that form a memorable phrase — are effective passwords if done correctly. However, hackers will guess famous quotes, sayings, and lyrics. 

2. Change Passwords Regularly

Changing your passwords, preferably every few months, will limit the amount of time hackers can access your account if they already have your credentials. A password generator can help you with this. It automatically generates random passwords, simplifying the password creation process. Creating strong and unique passwords for every one of your accounts is the best way to prevent an attack. 

3. Use Two-Factor Authentication

Two-factor authentication (2FA) provides an additional layer of protection for banking online. It requires you to confirm your identity twice before accessing your account. For example, entering your login information and a security code from a text message on your credit union's website. Some financial institutions require you to set up 2FA before using your online account. However, others give you the option to enable 2FA in your account settings. This process involves linking your account to an additional electronic authentication method, such as your phone.

4. Don't Bank on Public Wi-Fi Networks

Even if your computer and devices are secure, if you access your account from an unsecured network, your data can be compromised. Connecting to the public Wi-Fi at your local coffee shop might be free but using it can expose your personal data to thieves. Wait to access important sites, such as your bank or email account, from your home network. If you need to access your bank while away from home, use the bank app on your phone while you are connected to your mobile provider.

5. Stay Skeptical of Scams

Common online banking scams include phishing attacks, social engineering, and password cracking — when hackers guess your password with nefarious technology. Fraudsters can also steal your information if you log into your bank account over an unstable public Wi-Fi connection. It's critical to be aware of the latest scams and look for any red flags that suggest your security is at risk. For example, if you receive a suspicious-looking email from someone purporting to be from your bank, don't click on any links in the message. Instead, reach out to your financial institution to confirm the email is genuine.

6. Use Your Financial Institution's Security Offerings

Most financial institutions will allow you to set up alerts for unusual activity through their web portals or mobile apps. You can receive alerts as in-app messages, texts or emails. Common alerts are for large withdrawals, account closure or new check orders. You can even set alerts for card activity.

7. Check Your Accounts Regularly

Make it a habit to check your account transactions frequently for any unauthorized charges or withdrawals. Report any fraudulent charges immediately to your bank or credit union.

8. Don't Provide Personal or Account Information Unless You Initiate Contact

Your financial institution should not ask for you to supply personal information, such as your social security number or account number, via text or email. Be suspicious of any unsolicited requests for your information. When in doubt, contact your financial institution via the phone number on their website.

9. Don't Provide Account or Personal Information via Email

Your financial institution should never ask for information like your social security number, bank account information, or credit card information via email.

USSFCU will never ask you for your personal information via text or email. 

If you receive a text or email from USSFCU requesting any personal information, do not reply, instead contact us immediately at 800.374.2758.

Source for information above: TeamPassword