Risk Central: 7 Ways to Protect Your Banking Information During the Holiday Season

As the holiday season approaches, shopping ramps up—and so do the activities of cybercriminals and fraudsters. It’s a prime time for data breaches, phishing scams, and other tricks targeting your personal banking information, such as account numbers, card details, and online banking logins. Staying vigilant about securing this information is crucial to avoid becoming a victim of financial theft or identity fraud. Here’s why it’s important and what you can do to protect yourself.

Why Is Protecting Banking Information So Critical?
In today’s digital age, most people use online shopping for convenience, whether ordering gifts or seasonal essentials. However, that convenience can come with risks if you’re not careful about safeguarding your information. With just a few details like your account or card numbers, scammers can make unauthorized purchases, withdraw funds, or even sell your information on the dark web. Moreover, the holiday season is especially busy, making it easier for hackers to catch people off guard. Cybercriminals often use tactics like fake emails, fraudulent websites, and phishing messages, hoping that shoppers will be too distracted to notice the red flags. Losing control of your banking information can lead to stressful and time-consuming efforts to recover lost funds, reset accounts, and safeguard your credit. Below are 7 ways you can protect your information and avoid those headaches.
 

1.      Be Cautious with Online Shopping Sites
Only shop on reputable, secure websites. Look for “https” in the URL and a padlock icon in the browser. Avoid clicking on ads or links that lead to unfamiliar sites.
 

2.      Use Strong, Unique Passwords
Ensure that your banking passwords are unique and difficult to guess. Avoid using the same password across multiple sites and consider using a password manager to keep track of your login details securely.
 

3.      Enable Multi-Factor Authentication (MFA)
Many banks and retailers offer multi-factor authentication (MFA), adding an extra layer of security by requiring a one-time code along with your password. Enabling MFA can significantly reduce the risk of unauthorized access. You can read additional info on the importance of multi-factor authentication in last month’s Sunmark Risk Central blog!
 

4.      Stay Alert for Phishing Scams
Be wary of any unsolicited emails, messages, or pop-ups that request your banking information. Scammers often disguise themselves as banks or well-known companies. Double-check the email address or URL before clicking any links or providing sensitive information.
 

5.      Monitor Your Bank Accounts Regularly
During the holiday season, check your bank statements and online accounts frequently. Spotting any unusual activity early can help you take swift action to minimize damage.
 

6.      Consider Using Card Controls
Did you know you can control your debit and credit cards virtually inside the Sunmark Credit Union Mobile App? Not only can you actively see all transactions being posted to your cards in real-time, but you can turn your card on and off! This is a great way to protect yourself, as turning your cards off when you aren’t planning on using them keeps you safe from unauthorized and unwanted transactions.
 

7.      Avoid Public Wi-Fi for Banking Activities
Shopping or checking your bank account over public Wi-Fi, like at coffee shops or malls, can make you more vulnerable to hacking. Use a secure, private connection for online purchases, or consider using a virtual private network (VPN) to encrypt your data. Conclusion While the holiday season can be hectic, taking a few simple steps to protect your personal banking information can save you time, stress, and potential financial losses. By staying cautious and proactive, you can enjoy the holiday season knowing your banking information is secure.

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