Managing your money online has never been more convenient. But as more of us put more of our information online to do so, it’s important to take a few simple steps to keep you and your money safe from fraud.
The good news? You don’t need to be a tech expert to start putting small, easy habits in place to help you stay in control, feel more confident, and protect your money – just like locking your front door when you go out.
1. Use strong, unique passwords for every account
Think of your passwords as digital keys. If you use the same one everywhere, it’s like using the same key for your car, house, and safe. If you have multiple, unique passwords, it makes it harder for scammers to infiltrate your accounts.
Having a strong password that’s hard to guess will also help. Make sure your passwords include:
- A mix of capital and lowercase letters
- Numbers and symbols (like @, ! or £)
- Something different for every account (no repeats)
If you struggle to remember them all, a password manager (a secure app that stores them for you) can be a real help.
2. Turn on two-factor authentication (2FA)
Many websites now offer an option called ‘two-factor authentication’, or ‘2FA’.
After entering your password, they’ll send an additional code to your mobile or an app before you can log in. This extra step means that even if a scammer guesses or gets ahold of your password, they’re much more unlikely to be able to get in.
3. Double-check who you’re sending money to
Whether you’re paying a business invoice or sending money to family, always check the details carefully. A common fraud technique scammers use is to change account numbers or pose as someone you know, so it’s worth taking a moment to confirm everything before you hit send.
So, it’s important to avoid:
- Scanning QR codes you don’t trust
- Clicking payment links in unexpected messages. If you’re unsure, call the person or business directly using a number you trust, not one from the message.
4. Use secure Wi-Fi connections
If you’re out and about, don’t check your bank account or shop online using public Wi-Fi. At home, make sure:
- Your Wi-Fi has a strong, unique password
- It uses WPA2 or WPA3 security (your internet provider can help you check this)
If you need to go online in public, consider using a VPN (virtual private network) for added safety. This creates a secure connection and helps protect your personal information from anyone else using the same public Wi-Fi network.
5. Be cautious with anyone asking for personal information
Scammers often pretend to be from your bank, phone company, or even the police. Consider it a red flag if someone contacts you unexpectedly and asks for:
- Your PIN
- Security codes
- Passwords or account numbers
- Any other personal or private information
Never give out this information unless you started the conversation yourself and are confident the other person is who they say they are.
6. Keep an eye on your bank and card statements
The sooner you spot something suspicious, the easier it is to fix, so make a habit of checking your transactions regularly. Look out for anything unfamiliar, even if it’s just small charges.
For larger purchases or withdrawals, it’s worth setting up email or text alerts. That way, you’ll be notified straight away if something unusual happens, and you can act quickly if needed.
7. Keep your devices and apps up to date
Updates aren’t just for adding new features, they are also important in making sure you have the latest security updates. So, make sure your phone, tablet, computer, and even your internet browser (like Chrome or Safari) are all set to update automatically.
If you’re not sure how to do this, a quick online search will take you through the steps.
8. Always log out of financial accounts
When you’ve finished using your bank app or online shopping, it’s key to not just close the tab or app, but to log out properly.
This is especially important if:
- You’re on a shared computer
- You’re using a device that others in the household might access
9. Be wary of links and attachments in messages
Scam messages often look real. They might include:
- Logos from your bank
- Messages pretending to be from delivery services or HMRC
Avoid clicking on links unless you’re absolutely sure they’re genuine. Hover your mouse over the link (or press and hold on a phone) to preview the address. If it looks strange, don’t click.
10. Back up your data and lock your devices
Use a strong password or PIN on your phone, tablet or computer. If a device is lost or stolen, this prevents easy access to your accounts.
Regularly back up your files and photos too, either on an external hard drive or a trusted cloud service (such as Google Drive), so you won’t lose everything if your device is hacked or breaks.
Start small to stay safe
Remember, you don’t have to adopt all ten habits overnight. Even making a couple of changes can make a big difference in staying one step ahead of fraudsters. To start with, just pick two or three of the habits above and build from there.
As simple as it seems, taking simple precautions today could help protect your money – and your peace of mind – for years to come.
