Blog article
See all stories »

Easy ways to improve your financial privacy

In the modern world, we are all so used to our data being for sale that many of us do not even really evaluate the issue. However, while we might not mind our email address or name being on a marketing database, your financial data is far more important to keep private. That is why you should ignore the importance of financial privacy.

Want to stop your vital financial details from becoming a marketing tool? Then try out some of the following tips for improving your financial privacy today.

Use two-factor authentication when possible

Many of us are happy to use payment apps such as Apple Pay and even pay for things using PayPal. However, you should always look to use some form of two-factor authentication to verify payments. It might add on 30 seconds to a minute per transaction, but it is another way to safeguard your financial privacy.

You must do as much as you can to make getting access to your money difficult. Having another layer of authentication before a purchase can be completed is a worthwhile expense.

Always look for the lock

When buying anything online, always look to ensure the website has the little padlock button next to the website name/URL. This is vital as it gives you proof that the website is secured using Secure Socket Layer (SSL) technology. This gives you confidence that any payment data submitted here is going to be secured and is entirely private.

Also, be sure to look out for the URL of the website; if it does not start with “https://” then you should buy from someone else. This means the website is not secure for making a financial transaction online.

Use unique passwords

You might think that it is convenient to use your partner's birth date as your PIN code or your birthplace as your password. However, especially for apps that allow financial spending, you should look to use a password manager.

Tools that can protect your password are always worth investing in, and they can even generate a new password for you. This means that your login for a store or a payment app will differ from the password for your bank or online account, making it harder for someone to get access to multiple accounts and payment options with one single password.

Get a screen protector

You might not realize it, but having a screen protector could stop some at-source financial privacy issues. Someone could quite simply be looking over your shoulder on a bus, train, etc.

As such, you should always look to be prepared. Stop people seeing what you are looking at on-screen by buying a privacy screen protector from ViaScreens. This adds an extra layer of protection and gives you extra peace of mind that nobody can violate your financial privacy in person.

Avoid oversharing

The simplest way to avoid your financial history from being spotted by attackers is to be more private in your online communications. Avoid sharing things online about what you have bought, especially about where you bought it from and definitely how you paid for it. Some of us are so used to sharing on social media that we can over-share critical details, making it easy for someone to target you for financial fraud or similar.

Whether you want to cut down on marketing spam or you want to outright avoid financial fraud, stick to the above tips. You will retain financial privacy and will be far less likely to walk into a dangerous situation regarding your finances in the years to come.

Stay vigilant, always be wary of what you buy, and pay close attention to the steps before and after every login and purchase. it could stop you from being the victim of a serious, expensive fraud attack.

 

 

2315

Comments: (0)

Amita Choudhary

Amita Choudhary

Marketing Manager

Princeton Growth Accelerator

Member since

07 Jun 2020

Location

Princeton

Blog posts

54

This post is from a series of posts in the group:

Financial Inclusion

The financial services industry has much to contribute to the UN and World Bank goal of full financial inclusion by 2020. This group will focus on industry contributions, ideas, barriers and enablers.


See all

Now hiring