October is known for cooler days, turning leaves, spooky shenanigans, and pumpkin spice everything. It’s also Cybersecurity Awareness Month, a perfect time to audit your online accounts and activities for gaps that could leave you vulnerable to theft or fraud.
Small steps taken consistently can make a huge difference in improving the security of your bank and personal accounts—and your peace of mind. Vantage recommends implementing four pillars of cybersecurity to build a virtual fortress around your checking, savings, credit card, and other financial accounts and subscriptions.
Use strong passwords
By now, we all understand the importance of using complex, non-personalized passwords for our accounts. But rather than using a traditional password, cybersecurity experts recommend using “passphrases”—long strings of random words. Bots are much less likely to crack a 20-character nonsense phrase than a shorter password using a collection of the same old special ch@racter$.
And, it’s not enough to have a unique, unhackable password, you need unique passwords for every one of your online accounts. Don’t trust your memory or the Notes app in your phone to keep track of it all. Use a reputable password manager to keep your data secure.
Enable multifactor authentication (MFA)
Wherever possible, make multifactor authentication (MFA) a mandatory step for your accounts. MFA adds an extra layer of protection by requiring a second verification step after you enter your password. While codes sent via text message are a common form of MFA, they can be vulnerable if a fraudster gains control of your phone number. When available, consider using an authenticator app or security key, which generally provides stronger protection.
Vantage Credit Union enables MFA by default for all of our account holders. To verify or update your security settings, log in to Vantage Online Banking, and go to Menu>Settings>Security.
Learn to recognize & avoid common scams
Rather than physically hack into your account, today’s scammers often use psychological techniques to manipulate you into giving up your account data and access. One of their favorite tricks is to create a false sense of urgency by emailing (phishing), texting (smishing), or phone call (vishing) to warn you that “suspicious activity has been spotted on your account” or “your account will be suspended today.” One anxious click, download, or fake log in from you is all it takes to give them access to your account.
How can you identify these fake notifications? Watch for mismatched email domains or altered website addresses. For example, Vantage’s website domain is vcu.com and Vantage emails may come from vcu.com or authorized subdomains such as e.vcu.com. So, an email from “accountsecurity@myvcu.net” would be a red flag that the message is from a scammer, not a Vantage Credit Union financial coach. If they request payment through untraceable channels like gift cards, cryptocurrency, or apps like Zelle or Venmo, do not reply. If you have any doubts, verify the sender’s contact information independently by calling the number on your debit card or through your online banking portal.
Keep your operating systems, software, apps & devices up-to-date
Cyber criminals are always testing for weak spots in the operating systems, software, apps, and devices we use every day. Thankfully, software vendors are always striving to stay more than a few steps ahead of them.
Hackers won’t hesitate to take advantage of security gaps in your technology. Please don’t wait to update your systems when patches become available. “Smart” home devices, like your Wi-Fi router, gaming system, fitness tracker, smart TVs and appliances, all may need occasional updates, too.
The easiest way to stay current is to enable automatic updates across all of your operating systems (iOS, Android, Windows, and macOS), web browsers, and mobile apps, so updates are installed as soon as they’re available. And as hard as it may be to let go, don’t forget to retire older devices and programs that are no longer supported by the manufacturer. Even if you rarely use them, they could still give hackers an entry point to your personal data.
Protecting your identity and your assets online isn’t a one-and-done proposition. Those scary scammers are always creating new sad stories to catch you off guard and new technological tricks to bypass your defenses. Don’t wait until Cybersecurity Awareness Month to assess the security of your technology and online accounts. Keep your four cybersecurity pillars strong all year round.
