Guard Against Security Fraud Now
Over 25,000
That’s the number the FBI-affiliated Internet Crime Complaint Center registers each month. Whether it’s identity theft, financial fraud, or outright scams, we are all potential victims. So what can you do? Gary McAlum, USAA’s chief security officer, offers five tips.
1. Build a wall.
The holy trinity of computer security is a firewall, anti-malware software and automatic updates. Chances are you have all of these installed on your machine. Modern computers and routers have firewalls built in, and you can download an anti-malware program online, but whichever one you choose, be sure to keep it up-to-date. (USAA offers a discount for the McAfee®security suite, and numerous free options are available, but beware of “look-alike” programs that can actually harm your computer.) Finally, keep all your applications and your operating system secure by installing updates.
- Windows users: the built-in Windows® Update system will notify you when updates, many of them critical for security purposes, become available.
- Mac users: Apple® automatically sends system updates. Generally it is safe to accept these.
- Wireless users: should use the highest encryption available on your router, and be sure to change the router’s default username and password, both of which are often “admin” on major router brands.
2. Get complicated.
Whenever money is involved, toughen up. Don’t use simple passwords on financial accounts: If a hacker gets your email password, what’s the next stop? Your bank.
McAlum’s rule: “No simple words, or anything like your last name or a pet’s name. Use numbers and special characters and change passwords every six months.”
At USAA, when accessing your accounts after you log on to our website, you are required to enter a four-digit PIN that you have created. Now, to provide an extra layer of security, you can choose to have a code randomly generated and sent to you via text message each time you log on to your accounts. Having part of your logon credentials randomly generated is a proven technique in improving account security. And having this code sent via text message to a mobile device eliminates the need to carry a separate token device.
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3. Be recognized.
A new breed of security services adds an extra layer of protection beyond usernames and passwords by registering your computer’s unique thumbprint when you first log in. Why? The website is more confident it’s you doing the driving. If the site detects a computer you don’t normally use, expect extra questions to prove your identity. Make sure you register your devices to help diminish unauthorized attempts to access to your accounts.
4. Stay alert.
Most credit card issuers let you set parameters so your provider can send you a text message or email if a large charge hits your card. An alert notifies you immediately about a suspicious transaction so you can respond accordingly — by canceling the card, if necessary. You can set up transaction alerts for all of your accounts — from checking and savings to credit card accounts, as well as others like auto and property insurance policies and brokerage accounts.
5. Be suspicious.
Offering too much information about yourself is how most people get scammed. But it’s the easiest tip to follow because it requires little effort. “Some emails look like they’re from another financial institution and will try to trick you into revealing your credit card number or password.” Even if an email or a phone call appears to be legit, be suspicious. Banks and credit unions will never ask for your personal account information via email, text message or phone.
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