October is recognized as Cybersecurity Awareness Month, a time to reflect on the importance of protecting ourselves in an increasingly digital world. As more of our financial transactions move online—from banking to shopping—understanding how to protect your finances against cyber threats is essential. Cybercriminals are constantly evolving their tactics, but with a few proactive steps, you can keep your money and personal information secure.

Here’s a guide to help you safeguard your finances in the digital age:

1. Use Strong, Unique Passwords
The foundation of online security begins with strong passwords. Many people make the mistake of using simple or easily guessable passwords, or worse, using the same password for multiple accounts. This makes you vulnerable—if one account gets hacked, your other accounts could quickly follow.

• Create complex passwords with a mix of letters (upper and lowercase), numbers, and special characters.
• Use unique passwords for each financial account, including online banking, investment platforms, and credit card portals.
• Consider using a password manager to securely store and generate complex passwords, eliminating the need to remember multiple passwords.

2. Enable Two-Factor Authentication (2FA)
Two-factor authentication adds an extra layer of security to your accounts by requiring not only a password but also a second piece of information, typically a code sent to your phone or generated by an app. Many banks, credit card companies, and online platforms now offer 2FA as an option.

Enabling 2FA means that even if a cybercriminal obtains your password, they won’t be able to access your account without the second authentication step.

3. Monitor Your Accounts Regularly
Regularly reviewing your financial accounts helps you catch fraudulent activity early. Most banks and credit card companies offer instant alerts for transactions, allowing you to monitor your account activity in real-time.

• Set up alerts for large purchases or withdrawals, new account logins, or password changes.
• Review your monthly bank statements and credit card bills carefully. Look for any unfamiliar charges, no matter how small. Cybercriminals often test the waters with small amounts before moving on to larger fraudulent transactions.

4. Be Wary of Phishing Scams
Phishing is a common cyberattack where criminals trick you into revealing sensitive information like login credentials or credit card numbers through fraudulent emails, texts, or phone calls. These scams often appear legitimate, mimicking the logos and language of trusted institutions like your bank or credit card company.

• Always verify the sender’s email address before clicking on any links or downloading attachments.
• Don’t provide personal information over email or phone unless you initiate the contact. If you receive a suspicious message from a company asking for information, call their official number to verify the request.
• Be cautious of links in emails or texts that ask you to log in to your accounts. Instead, go directly to the website by typing the URL into your browser.

5. Use Secure Networks
Public Wi-Fi networks are convenient, but they are often unsecured, making it easier for cybercriminals to intercept data like your login credentials. Avoid accessing financial accounts or making purchases while connected to public Wi-Fi.

If you must use public Wi-Fi, consider these precautions:

• Use a virtual private network (VPN) to encrypt your data, making it more difficult for hackers to access your information.
• Only visit websites that use HTTPS encryption (look for the padlock symbol in the URL bar), which provides an added layer of security for online transactions.

6. Keep Your Software Updated
Cybercriminals often exploit vulnerabilities in outdated software to access your accounts or steal your data. Regularly updating your computer, smartphone, and apps helps protect against known security risks.

• Enable automatic updates for your operating system, web browsers, and any apps, especially those used for banking or making online purchases.
• Use reputable antivirus software to scan for malware and other threats. Many antivirus programs offer real-time protection and can block harmful sites or downloads.

7. Freeze Your Credit When Necessary
A credit freeze prevents anyone from accessing your credit report without your consent, which can help stop identity thieves from opening new accounts in your name. If you suspect that your personal information has been compromised in a data breach, freezing your credit is a proactive way to protect yourself from financial fraud.

• Contact the three major credit bureaus (Equifax, Experian, and TransUnion) to initiate a credit freeze. You can lift the freeze temporarily when applying for credit.

8. Be Cautious with Financial Apps
Financial apps can be convenient, but they also pose risks if not used carefully. Download apps only from official app stores (Google Play or the Apple App Store) to reduce the risk of downloading malicious software.

Before using a financial app:

• Read reviews and check their ratings for legitimacy.
• Understand the permissions the app is asking for. If an app requests access to unnecessary data, like your location or contacts, it may be a red flag.

Cybersecurity is essential to protecting your finances in today’s digital landscape. By using strong passwords, enabling two-factor authentication, and staying vigilant about phishing scams and account activity, you can protect yourself from online threats. For more information about your security, visit Andover Bank’s Security webpage. During Cybersecurity Awareness Month and beyond, prioritize these simple, yet powerful practices to safeguard your financial future.