Cybersecurity Tips: Help Us Keep Your Money Safe

Identity theft and cyber scams continue to be a prevalent threat to all consumers. It can happen to anyone at any time. Banks work hard to protect your money and keep your accounts safe, but it’s crucial that you help do everything you can to protect yourself from becoming a victim, too.

"The partnership between banks and consumers is as crucial as ever," says Grant Langhus, Chief Information & Security Officer. "Though banks work diligently to safeguard your financial assets, it’s ultimately a shared responsibility. Together, we can help prevent cyber scams to keep your dollars safe."

Here are six easy tips everyone can implement that, combined with the security protocols such as those used by Luana Savings Bank, will help reduce your risk of becoming a victim of cyber scams.

1. Create long, unique passwords. The first step in protecting yourself is to use long passwords that are just as importantly unique to each product, service, or website. Utilize a password manager app to record and auto-fill those passwords for you.

2. Enable multi-factor authentication. Also known as MFA or two-factor, this provides an additional layer of security. After entering your username and password, you’ll complete a second verification step – by entering a one-time code, fingerprint, face ID, etc. This extra step makes it more difficult for hackers to access your account, even if they have your password, because they aren’t in possession of you or your device.

3. Be wary of unsolicited communications. If someone reaches out to you unexpectedly, be suspect of that interaction. Nothing is ever so urgent that you can’t take down their information, hang up the phone/turn off the computer, research the issue, and contact the person or organization back after verifying their authenticity. This is especially true for your bank, the IRS, law enforcement, clinics and hospitals, and similarly serious groups.

4. Check bank & retirement account activity/balances regularly. Sign up for alerts when available.

5. Strongly consider placing a security freeze on your credit files at each major credit bureau. (more here)

6. Check your credit reports as frequently as you’d like at https://www.annualcreditreport.com. Report inaccuracies directly to each credit bureau to help prevent identity theft.

Protecting yourself from cyber scams and identity theft might seem challenging, but by partnering with Luana Savings Bank, you can reduce your risk. Stay alert and share these tips with others!