Cyberattacks: Help Keep Your Electronic Financial Data Secure

These days, the majority of people have sensitive electronic financial data online. In fact, 72% of Americans mostly access their banking accounts online or through mobile apps, continuing a growing trend, which can equate to an increase in cyberattacks.^[i]

As our lives become increasingly digital, so does our personal and sensitive information. If we don’t take precautions to protect our data, then we risk becoming victims of breaches and cyberattacks, which are on the rise. During the three months ending in June 2018, there were 765 million cyberattacks, affecting billions of people worldwide.^[ii]

From your investment accounts to your tax details and beyond, these three tips may help better protect your electronic data:

1. Strengthen your passwords.

An easily hackable password is like leaving a door locked with your key in it: You’re inviting someone to take advantage. To create a secure password, avoid using personal details (like your child’s name), words found in any dictionary, or the same password across various accounts.^[iii]

2. Use a Virtual Private Network (VPN).

VPNs help shield your identity, location, and data by routing your internet traffic through an encrypted, virtual tunnel. You can choose from a number of VPN apps for your computers and mobile phones. As a quickly growing method to safeguard data, VPNs are an easy way to help provide powerful protection.^[iv]

3. Encrypt browsing sessions.

Whenever you visit a URL that uses “HTTP,” you aren’t on a secure site. As another layer of protection, you can install browser plugins that turn unsecure websites into secure, encrypted connections via “HTTPS.”^[v]

The Takeaway

While no one can completely remove the threats from storing electronic data, you can take steps to help better safeguard your sensitive information. These tips are a starting point for protecting your and your family’s security with minimal effort.

Visit www.capsouthwm.com for more information.

Investment advisory services are offered through CapSouth Partners, Inc., dba CapSouth Wealth Management, an independent registered Investment Advisory firm. Information provided by sources deemed to be reliable.  CapSouth does not guarantee the accuracy or completeness of the information.  This material has been prepared for planning purposes only and is not intended as specific tax or legal advice.  Tax and legal laws are often complex and frequently change.  Please consult your tax or legal advisor to discuss your specific situation before making any decisions that may have tax or legal consequences.

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^[i] https://www.aba.com/Press/Pages/101618MCResults.aspx

^[ii] https://www.usatoday.com/story/money/2018/12/28/data-breaches-2018-billions-hit-growing-number-cyberattacks/2413411002/

^[iii] https://www.us-cert.gov/ncas/current-activity/2018/03/27/Creating-and-Managing-Strong-Passwords

^[iv] https://www.pcmag.com/article/352757/you-need-a-vpn-and-heres-why

^[v] https://www.wired.com/story/google-chrome-https-not-secure-label/

https://www.techworld.com/security/best-8-secure-browsers-3246550/