You probably know someone who got their financial information stolen online. Or maybe you fell victim to a financial scam in the past. Either way, it’s important to be vigilant about protecting your financial information, especially since so many financial transactions happen online due to the rise of payment apps, online banking, and online shopping.

At Balanced Bookkeeping NC, we’re all about practicing good financial habits, and part of this involves knowing how to protect your financial information on the web. Here are some common scams to watch for and a few tips for keeping your data safe from scammers.

Common Financial Scams to Watch For

Some of the most common financial scams we see on a regular basis look something like this:

You receive an email from what looks like a legitimate source, like a government agency or bank, and you click on a link or attachment included to find out more. The second you click on that link, the scammer begins to collect your financial information and may even infect your device with a virus or malware.
You receive a message or email from a friend or family member asking you to wire money. You aren’t sure if the situation is real or not, but the criminal impersonating your loved one uses this as an opportunity to steal your financial information.
You receive an email saying you won the lottery, a prize, or a sweepstakes. While you may think this is your lucky day, if the message asks for your bank account or credit card information, it’s a scam.

Our Top Tips for Protecting Your Info

It takes a little extra vigilance to protect your financial information online, but it’s well worth the effort. Here are some of our top tips for keeping your information safe:

Don’t do any online banking on public devices or networks.
Turn on multifactor authentication on as many accounts as possible.
Use a password management tool to keep things secure.
Keep your antivirus software up to date.
Never trust emails or messages because they look like they are from financial institutions – do your research and double check the sender first.

Do you have questions about protecting your personal financial information? Don’t hesitate to contact us to learn more.