Financial security when it comes to having your finances in order is one thing. We all want to have a healthy financial situation. That’s exactly what this website is about; to give you advice on all things financial. However, there is another kind of financial security that we should all be considering in order to keep our finances private. We are going to look at some technological features that may make our lives easier, put our financial privacy at risk.
There are a number of ways to keep your finances under wraps. Some people are not too worried about letting others see their financial situation, but there are many of us that would rather keep our financial situation to ourselves. The issue today is that there are so many ways people can check how much money you have stashed away or how much debt you may be in. Here are some tips on how to hide your financial details.
Don’t use quick balance on your banking apps
Some banking applications installed on mobile devices have a feature that allows you to simply click on the app and check your balance without logging in. This is literally only a means to check your balance and nothing else. If you wanted to make any transactions, then you would need to log on with a security code, 2-factor authentication, and a password. So, what is the issue then?
If you happen to leave your phone unlocked or other people know your password, then they can easily check your balance on your app. Therefore, if you want to maintain privacy, make sure you do not use this feature no matter how useful it may be.
Always use 2-factor authentication
2-factor authentication requires that you have a password and a message sent to either your phone or email with a code. Sometimes it can be a simple pop up on your phone confirming if it is you logging in. This way, if anyone does guess your password, then they would also need your phone or access to your email to authenticate.
There are of course other security measures you will need to take here, such as never saving the password to the email address the 2-factor authentication uses to confirm it is you. If your 2-factor authentication is via SMS, then make sure you do not have your phone set to show notifications even when screen lock is on.
Use privacy and protection software on all your devices
Every device that you use to access any financial accounts that you use should be well protected. Online fraud is big business these days, and the mobsters that run rackets that make it their business to steal your money using the internet employ coders to design trojans and viruses that can intercept your financial data.
If you think this sounds far-fetched, then think about how many millions maybe even billions these people make in earnings. They can afford to hire people to code these viruses, intercept emails, and hijack internet connections. The same as a bank that wants to make more money from a new financial project, they will invest heavily into research and coders. Or the same as any business that wants to grow and make more profit.
These financial fraud rackets are no different. Use a VPN connection if you are accessing the internet from anywhere other than your own internet router. Always install anti-virus software and use the paid version.
So there we have it. We covered 3 ways to protect your financial privacy.