Making Cents: How do I protect myself from online financial scams?
SACRAMENTO, Calif. —
It is unfortunately common to experience a cyberscam or attack, particularly those with a financial motive.
Financial expert Kathryn McCall, CAPTRUST vice president and financial advisor, says with financial fraud on the rise, sometimes the simplest solutions are the most effective.
First, she says, make sure you are making unique 20-character passwords for every login. Twenty is more than most sites require, but the length ensures a strong password.
Next, she recommends looking into what privacy settings your device offers you.
“Your iPhone and all of your devices actually have hundreds of settings. That’s the second one,” McCall said. “You have hundreds of settings that you can take advantage of. Most people just don’t realize that you can prevent other companies from watching what you do across your platforms.”
She says to research what your specific device allows you to do.
Her third tip is to beware when using public Wi-Fi.
“When you go to the coffee shop, don’t check your bank accounts,” McCall said. “Any time you are on public Wi-Fi, just assume that anybody can watch whatever it is you log in on.”
Educating yourself on how to protect against scams, McCall said, is the most important step.
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