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This is pretty much an ever growing topic. With the recent security
breaches we have seen and the level of victims of identity theft,
people are scared. The only reason that not every single person
has an online savings account is the security topic. Online banks
know this and taking super fast actions to make everyone feel more
secure. Here is a basic overview of the things you can do to make
yourself more secure.
1. Be wary of e-mail notifications- never respond to e-mails
that ask for personal information.
2. Never hand out vital information to someone who contacts
you- never give out your birth date, Social Security number,
or driver's license number.
3. Monitor the computers you use to access your account-
A. Don't access your account from high risk locations or high risk
computers. Here is a quick article on that: Where Not To Access
Your Account From B. Keep your Operating System Updated- Run Windows
Update or Apple Update at least once a month. This will protect
you from Spywar e/ Malware to some extent. C. Use an Antivirus Program
and a Good Firewall. These help keep out the bad guys. Run at least
a weekly antivirus scan and make sure your firewall is always live
when your online.
4. Use strong passwords- Always use a strong password that
consists of the numbers, letters, and when available special characters.
Avoid the obvious such as birthdays, street addresses, and children's
names. If you will use a date is a date that is special to you that
no one really knows of.
5. Make sure the bank you are signing up with is legit-
Rule number one, always know who you are giving you money to. With
the vast increase in phising scams many scammers are even setting
up entire web sites that say they are actual bank that offer an
awesome rate. I wrote a good list of steps you can take to verify
your bank is legit here: How To Know if Your Online Bank is Legit
6. Review the Security Practices of the Bank you choose-
The main thing you are looking for is how does this bank allow you
to access your money and what layers of security do they use to
stop third parities from viewing that information. Look for SSL
encryption (The little lock and key icon) used everywhere and anywhere
on their site. Any bank that does not use 128-bit SSL when ever
you are passing private information to their is not a bank you want
your money in. I have to say as I review a lot of these online banks,
I find that about 1/4 of them have areas of their sites that do
not use SSL. Are they kidding us? Another thing to look for is methods
of entry. Some banks just require a username and password. So two
little pieces of information will give a scammer complete access
to your account. That's not an account you want. You are looking
for unique filters such as requiring you to register a computer
or a picture password. I have to say I love the banks that I get
locked out of with 2 false logins. Now that's security!
7. Look for Bank Guarantees- Many banks in addition to offering
a 100% guaranteed refund of funds that are stolen from you will
also guarantee to monitor your credit for fours following such a
security breach. This type of guarantee tells you they are serious
about your business.
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