Online Security – A Few Simple Steps to Keep Your Money and Personal Information Safety
You may have noticed an increase in emails recently from companies asking you to review your passwords or providing updates about online security.
Although these messages can sometimes be concerning, they are often simply a reminder of the importance of keeping our personal information secure.
With so much of our banking, shopping and financial administration now carried out online, we thought it would be useful to share a few straightforward steps that can help protect you and your family from online fraud.
Why does online security matter?
Cybercriminals are continually looking for ways to access personal information, passwords and financial accounts. Even well-established companies and organisations can experience security breaches.
Fortunately, there are some relatively simple precautions we can all take to reduce the risk.
Five simple ways to protect yourself
1. Keep your email account secure
Your email account is particularly important, as it is often used to reset passwords for other services, including banking and investment accounts.
Make sure you use a strong, unique password for your email and enable two-step verification where available. This provides an additional layer of security, usually by requiring confirmation through your mobile phone.
2. Consider using passkeys
You may have noticed that some websites now offer the option of signing in using a passkey rather than a traditional password.
Passkeys allow you to access accounts using your fingerprint, facial recognition or device PIN. They are generally more secure than passwords and can also make signing in easier.
3. Avoid using the same password for different accounts
Remembering numerous passwords can be difficult, which is why many people end up using the same one more than once.
Password managers, including those provided by Apple and Google, can securely store your passwords and create strong, individual passwords for different websites.
4. Be cautious with unexpected emails and messages
Fraudulent emails are becoming increasingly convincing and can appear to come from banks, retailers or other familiar organisations.
If you receive an unexpected message asking you to update your password, provide personal details or access your account, avoid clicking on any links.
Instead, visit the company’s website directly or use its official app.
5. Always double-check requests to transfer money
This is particularly important.
If you receive an unexpected request to transfer money, change bank details or make an urgent payment, take time to verify the request.
Even if the message appears to come from someone you know, contact them using a telephone number you already have.
Remember, your bank will never ask you to transfer money to another account simply to keep it safe.
What should you do if something doesn’t seem right?
If you are concerned that you may have received a fraudulent message or that your bank account could be at risk, contact your bank immediately using its official telephone number.
You can also:
- Call 159 to be connected securely to participating UK banks’ fraud teams.
- Forward suspicious emails to report@phishing.gov.uk, the National Cyber Security Centre’s reporting service.
- Avoid responding to suspicious messages or providing personal or financial information.
A final thought
We regularly remind clients that successful financial planning is about taking a long-term view and avoiding unnecessary reactions to short-term events.
Protecting your finances from fraud is equally important, and a few simple precautions today could help prevent considerable difficulties in the future.
It is also worth taking a little time to help older family members or anyone who may be less confident using online services.
Please feel free to share this article with family or friends who may find it useful.
As always, if you have any concerns about the security of your investments or receive anything suspicious relating to your financial arrangements, please don’t hesitate to get in touch.
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MD & Certified Financial Planner
A brief meeting might be of interest, especially if you’re unsure just how wealth management and financial planning could help you.
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