Every brokerage firm has an obligation to protect the financial information of its clients. It is therefore prudent as an investor to understand how your brokerage firm handles security procedures. However, even the best procedures cannot be able to prevent all instances where identity theft can occur, especially when the susceptibility lies with the client. How does identity theft occur? There are various ways in which identity theft can occur. For instance, some thieves use software such as keystroke-logging to steal usernames and passwords. Others send emails pretending to be legitimate financial institutions asking for information such as social security number, credit card numbers etc. Below are some tips on how to protect your investment by securing your information.
Here are some tips on how to better protect your information:
Strong Passwords And Pins
It is advisable to use a combination of numbers, letters, and symbols to make your password strong. Always keep your passwords and PINs secret and not share with anybody. In addition, you should not store them on your computer or phone because anybody can access them. If you need to write them down for remembrance, store such information in a secure and private place.
Maintain Your Computer Security
If you engage in online financial transactions, it is important to secure your computer with personal firewalls and other necessary security software packages. Make sure the security software is always running and regularly updated. In the case of a laptop, ensure you use encryption software. Nowadays software developers provide tips on how to improve security systems.
Have A Personal Computer
It is much safer to access your online trading account using your personal computer or device. It is not advisable to use public computers to access any of your online accounts that involves transactions. This is because a public computer might contain software that retains your passwords and PINs. In case you use a public computer, make sure you completely clear your history including cache and temporary files. Additionally, you should regularly check to ensure that there are no external devices or programs attached to your computer without your knowledge. This will help to block anyone from secretly accessing your personal information.
It is important to completely log out after finishing your engagement on your brokerage accounts online. Closing your running browser does not completely mean logging out from your account. In fact, an unauthorized user can re-enter the site and gain control of your account. Also, avoid opening multiple web pages while you are using your brokerage account. You can potentially put yourself at risk of session stealing. If you must other web pages, please do so in different browsers.
Be Careful With Wireless Connections
It is very risky to access your brokerage account using a wireless connection. This is because most Wi-Fi in public places has reduced security features to allow access by many users. This can put you at potential risk of someone else accessing your information. However, it is safe to use your personal wireless network which must be protected with strong passwords or encryptions.
Be Careful With Apps
Nowadays there are millions of Applications that are downloadable for free. However, be cautious when using these Apps on your computer or mobile devices because they might put you at a security risk. Alternatively, make sure to protect your protect the devices you use to access your account with or avoid using unnecessary Apps completely.
A cybersecurity professional can help you secure your account even better. For instance, you can involve an iso 27001 consultant to help you with compliance with international security standards. A professional will be in a better position to provide with the best security solutions. And, in the case of a security compromise, the professionals will most likely be the only people that will be able to help you regain your security.If you enjoy the content at iBankCoin, please follow us on Twitter