How to Protect Yourself from Cyber Criminals: Tips and Tricks for Cybersecurity Awareness Month

October is Cybersecurity Awareness Month, and at Lake Ridge Bank, we’re committed to helping you keep your financial information safe from cyber criminals. In today’s digital age, understanding how to protect yourself from cyber threats is more important than ever. With online banking, mobile banking, and digital transactions becoming increasingly common, it’s crucial to know how to secure your accounts and personal information.

Here are essential tips and tricks to help you safeguard your financial data:

1. Strengthen Your Banking Security with Strong Passwords

One of the simplest yet most effective ways to protect your banking accounts is by using strong, unique passwords. Avoid using easily guessable information like your birthdate or common dictionary words, and avoid predictable patterns (e.g., “1234”). Instead, create complex passwords that combine uppercase letters, lowercase letters, numbers, and special characters. Also, the longer the password the more difficult it is to crack. Passwords should be at least 12 characters long. Lastly, avoid common substitutions. While adding numbers or symbols is important, avoid predictable substitutions like “P@ssw0rd.” Attackers often anticipate these patterns.

Tip: Change your passwords regularly and avoid using the same password for multiple accounts. Consider using a password manager.  Complex passwords can be hard to remember, especially if you follow the best practice of using a different password for each account. Password managers generate, store, and manage complex passwords securely, ensuring you don’t have to remember all of them.

2. Enable Two-Factor Authentication (2FA) for Extra Protection

Many banks, including Lake Ridge Bank, offer two-factor authentication (2FA) for online and mobile banking. This extra layer of security requires you to confirm your identity by entering a code sent to your phone or email in addition to your password. 2FA makes it much harder for cyber criminals to access your accounts, even if they manage to get hold of your password.

Tip: Always enable 2FA wherever possible, especially for banking and other financial accounts.

3. Be Wary of Phishing Scams and Fraud Prevention

Phishing scams are one of the most common ways cyber criminals attempt to steal your personal and financial information. These scams often come in the form of emails, texts, or phone calls pretending to be from your bank or another trusted institution. Cyber criminals trick people into providing sensitive information like account numbers or passwords.

Tip: Never click on suspicious links or download attachments from unknown sources. Always verify the sender’s information before providing any personal details. If an email or text claims to be from Lake Ridge Bank and something seems off, contact us directly to verify its legitimacy.

4. Monitor Your Bank Accounts and Set Up Alerts

Stay vigilant by regularly reviewing your bank statements and account activity. Lake Ridge Bank offers customizable alerts that notify you of any unusual activity, such as large withdrawals, failed login attempts, or new devices accessing your account.

Tip: Setting up these alerts can help you detect and respond to fraudulent activity quickly. You can set up these alerts through our online or mobile banking platforms.

5. Secure Your Mobile Banking Apps

Mobile banking is convenient, but it also presents a risk if you don’t take steps to secure your device. Always ensure that your phone is password-protected and enable biometric security features such as fingerprint or facial recognition. Keep your mobile banking app updated to ensure you have the latest security features.

Tip: Avoid accessing mobile banking on public Wi-Fi networks. Public networks can be insecure, making it easier for cyber criminals to intercept your data.

6. Be Cautious with Public Wi-Fi

Public Wi-Fi networks are convenient but often lack the security needed to protect your personal information. Avoid conducting financial transactions or accessing sensitive accounts when connected to public Wi-Fi. Cyber criminals can easily intercept unencrypted data transmitted over public networks, putting your financial information at risk.

Tip: If you must use public Wi-Fi for banking, consider using a Virtual Private Network (VPN) to encrypt your data and keep it secure.

7. Keep Your Devices and Software Updated

Cyber criminals often exploit vulnerabilities in outdated software and operating systems. To protect your financial information, always keep your devices, browsers, and banking apps updated. Regular updates include important security patches that help prevent cyber-attacks.

Tip: Enable automatic updates on your phone, tablet, or computer to ensure you’re always using the most secure version of your operating system and apps.

Stay Vigilant and Stay Secure

Cybersecurity is an ongoing process that requires vigilance and action. By implementing these tips—strong passwords, two-factor authentication, phishing prevention, account monitoring, and mobile security—you can significantly reduce the risk of falling victim to cyber criminals.

At Lake Ridge Bank, we prioritize your financial security and offer tools and resources to help you protect your information. Stay informed and stay secure, especially during Cybersecurity Awareness Month, by adopting these simple but effective practices