1. Keep crucial numbers secure
One basic way to protect your finances is simply paying attention and making your privacy a priority. Don’t print Social Security and driver’s license numbers on the checks you write, or jot down your PINs and passwords on cards, for example, and never give your credit or debit card and PIN to someone else to use. When you’re at an ATM, in addition to shielding the view of your PIN, look for signs a card reader has been tampered with, such as loose components or wires; that may mean the device has been fitted with a skimmer, which can record your personal information.
Another key precaution: If you’re donating or discarding an old computer, wipe the hard drive to remove all your personal and financial files, says Gerri Walsh, president of the Investor Education Foundation at the Financial Industry Regulatory Authority (FINRA).
2. Create strong passwords or pass phrases
This is one of the most important steps to secure your accounts. What’s considered strong? Passwords that include lowercase and uppercase letters, numbers and symbols, if allowed, or try pass phrases such as My@untLov3sCa$h, suggests Walsh. Use different passwords for each account and change them, as well as the PIN of your ATM card, regularly.
If you’re having trouble remembering all your passwords, says Walsh, it may be worth the nominal fee to use a password manager that randomly generates secure passwords for your accounts while allowing you to use a simple master password. With strong encryption, it also protects PINs, CVV codes, credit card numbers and answers to security questions.