In today’s interconnected world, knowing how to protect your money in the digital age plays a decisive and transcendental role.
Ensuring the security of your assets has become a priority for the most disruptive financial organizations, and of course for traditional banking.
Why? This is due, among other factors, to the increase in online transactions and the boom in the use of digital financial platforms.
However, as technology advances, so do the tactics of cybercriminals who give cybersecurity no respite.
According to data published by Statista:
In 2023, more than 880,000 cybercrime reports were submitted nationwide. That year, the majority of individuals and organizations reported experiencing phishing and personal data breaches.
Consequently, it is vital at this time to be informed about best practices in banking security.
In simpler words: today, more than ever, you need to know how to protect your finances in the digital age to be able to:
If you would like to discover how you can protect your finances and keep your money safe and secure in today’s digital ecosystem, we invite you to read to the end.
How to protect your money in the digital age
Don’t underestimate the power of multifactor authentication (MFA)
One of the most effective ways to protect your financial accounts is to make use of multifactor authentication (MFA).
This method adds another layer of security by requiring more than one form of verification to access your account, such as a password and a code sent to your cell phone.
According to a Microsoft report, the use of MFA can prevent 99.9 % of automated attacks.
This measure prevents cybercriminals from accessing your account without the second form of verification, even if your password has been compromised.
Keep your software up to date
Keeping your computer software up to date is essential to protect your data on digital banking platforms.
Often, such updates include security patches that fix known vulnerabilities.
A study by Avast revealed that 55 % of the most popular applications on PCs are outdated, increasing the risk of a cyber-attack.
So what should you do? Make sure you regularly update your operating system, browser, and banking applications to protect yourself against the latest cyber threats.
Avoid using public Wi-Fi networks for financial transactions
It is undeniable that public Wi-Fi networks can get you out of trouble, but their use for banking purposes is not recommended, far from it, safe.
And we’ll tell you why.
In essence, cybercriminals can intercept information transmitted over these networks, including your banking details.
A survey conducted by the Norton company revealed that, “more than half of consumers worldwide claimed to have experienced a cybercrime, and nearly 2 in 5 were victims, in 2022 alone”.
This is also alarming:
Twenty-one percent of respondents said they had been victims of cyber threats through malicious attacks on “computer software and Wi-Fi networks”.
Wondering how to protect your money in today’s digital age? We hope you do!
Understand this: to protect your funds and data, it is best to conduct financial transactions over secure, private networks.
In any case, if you are forced to use a public network, consider using a virtual private network (VPN) to encrypt your connection and protect your most sensitive and confidential information.
With NOBA your money and finances are safe and covered
Knowing how to protect your money in the digital age is essential to keep your finances safe and enjoy the benefits of online banking without worry or headaches.
Adopting the following practices can make a big difference in the security of your financial data:
You can now use our advanced and secure financial platform to make your digital transactions with complete confidence.
Companies like NOBA play a crucial role in this scenario; there is no doubt about that.
From converting traditional fiat money into valuable digital assets, to effortlessly moving your money between wallets and international bank accounts.
By relying on NOBA‘s services, you can rest assured that your funds and data are protected by the best banking security practices, giving you the peace of mind you need to manage your finances without fear in the digital age.
Explore NOBA’s solutions and take control of your financial future today!
