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How to protect your money from cyber attacks

7 Simple Tips to Protect Your Money and Personal Information

While it may seem a little overwhelming, there are a number of ways to protect yourself and your finances from cyberattacks.

To protect yourself from cybercriminals, here are some simple tips to follow:

1. Two-factor authentication (2FA)

Activate the 2FA function on your smartphones and other devices, where possible. You can also turn on this feature for all websites and applications you use on your devices, especially those you use for banking and financial transactions.

2. Placing Fraud Alerts on Credit Accounts

Create email, text, or push notifications to receive notifications about all transactions performed on your accounts. If you receive a notification of a transaction that you do not complete, you can immediately notify your bank of the activity. In addition, the sooner you take action, the faster your bank can sort things out.

3. Protecting all IoT-enabled devices

IoT-enabled devices are all "smart" devices you use that are always connected to the Internet. They can include your smartphones, computers or laptops, tablets, TVs and even Wi-Fi enabled lights or other electronics.

You need to set strong passwords on all devices and your Wi-Fi connection to make it difficult for hackers to access your systems. Also, avoid storing sensitive and personally identifiable information on these devices as much as possible.

4. Installing antivirus or malware

Make sure you install antivirus or antimalware software on laptops and computers, as well as your smartphones. Check them often to make sure they are always up to date.

It also helps to configure the firewall system that comes with your operating system, in addition to installing antivirus or antimalware software. Run virus or malware every time you open your computer or laptop to ensure that no malicious activity is detected.

5. Monitoring Your Transactions

It is a good idea to check your bank statements regularly to detect odd transactions or any activity you do not recognize. Even if you have not made any transactions, you should still check your statement. This allows you to quickly detect fraudulent activity.

6. Use unique login credentials

Never use the same username and password combination for multiple accounts. Also, make sure that your passwords are difficult to guess. Avoid using continuous numbers such as 1

2345, date of birth or a string with 0s in your passwords.

7. Use only trusted websites and applications

Look at the back of your bank statement to find the website your bank uses. You can bookmark this site and just log in to it to make transactions. For apps, you can look for the "verified" brand in the Play Store or App Store and avoid downloading apps without the brand or those with bad ratings and negative comments.


It can be overwhelming to hear news about cyberattacks but remember that it is possible to protect yourself from such incidents.

Taking appropriate precautions when using digital banking services can protect you from most types of cyberattacks. You can follow the simple tips above to reduce the risk of financial fraud on your accounts.

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Photo by Clint Patterson

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