Keeping Your Financial Accounts Secure

Jan 28, 2025

One of the benefits of the digital age is the freedom that comes from being able to access and manage your important accounts and data from anywhere – but it also comes with risk. And financial accounts are especially vulnerable because they contain not only your personally identifiable information but your literal assets.

Here are a few things we recommend to help keep your accounts safe and secure:

Stay Up to Date on Common Scams

Cybersecurity is constantly evolving – as are cyberthreats. You don’t need to be an expert to stay safe but it can help to stay aware of the common scams that are out there. Knowing what to steer clear of will help you identify it when it pops up.

Monitor Your Accounts

Financial accounts should not follow the “set it and forget it” model. Check in on your accounts regularly in order to identify any suspicious activity and alert your financial institutions to any concerns ASAP. If you do see suspicious activity, report it and update your security protocols accordingly.

Check Your Credit Report

While you’re at it, add an annual reminder to check out your credit report. Not only will you be able to proactively identify any issues and remedy them, but you’ll know off hand how your credit score is increasing!

Practice Good Password Hygiene

Even with password managers and two factor authentication, password hygiene and strength is still very important. Make sure you avoid reusing passwords on multiple accounts, employ strong passwords that use a combination of letters, numbers, and symbols, and adhere to a regular schedule of password changing to keep your accounts current and secure.

Add 2FA to Your Accounts

Go above and beyond strong passwords with two factor authentication. Adding a second step to prove your identity goes a long way in keeping dangerous elements out of your accounts. It may seem slightly annoying but it does a lot to protect you in the long run.

Be Wary of Public WiFi

Just because you can access your accounts from anywhere, doesn’t mean you should. Avoid public devices and public or non password protected WiFi when accessing secure information.

Consider Additional Tools

There are also additional tools that may be helpful in keeping your accounts safe:

  • Password Manager: a tool to help keep track of your passwords, identify any security issues, etc.
  • Identify Theft Monitoring: a tool that helps to proactively alert you of breaches and concerns

 

Keeping your accounts secure may feel overwhelming but it doesn’t have to be a full-time job. With a few key steps and some important habits, you can help to mitigate the risk that comes with online and mobile access.

Peninsula Wealth is a Registered Investment Adviser. Advisory services are only offered to clients or prospective clients where Peninsula Wealth and its representatives are properly licensed or exempt from licensure. This material is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Peninsula Wealth unless a client service agreement is in place. It is expressly understood that our firm will not provide accounting or legal advice nor prepare any accounting or legal documents for the implementation of your financial planning objectives.