Simple Steps to Keep Your Wealth Safe Online

With financial scams and other cybercrimes on the rise, it now takes a thoughtful approach to protect your money and personal information. Here are several practical steps to help keep your finances safe from some of today’s most common online threats.

Multi-factor authentication: More than just a password

Relying on passwords alone is no longer enough to keep your financial accounts safe. A single stolen or compromised password can put your savings and investments at risk. The best way to protect your accounts is by using multi-factor authentication, which combines at least two different types of verification.

Key Benefit: Even if a password is compromised, unauthorized access is prevented without additional factors.

Don’t put all your eggs in one basket

Keeping all your money in one account might feel convenient, but it also creates a single point of failure. If that account is compromised, all your funds are suddenly at risk. Consider an approach to separate your accounts based on how you use them. For example, keep one account for everyday spending and personal expenses, another for payroll or business operations, and separate accounts for investments or long-term holdings that need extra authorization to access.

Key Benefit: If one account gets hit, the rest of your money stays safe.

Get instant updates

Catching suspicious activity quickly is one of the best ways to stop fraud before it causes serious damage. Set up real-time alerts for important transactions like wire transfers, ACH withdrawals, or large card transactions over a certain amount. Make it a habit to review and reconcile all your banking activity, even for accounts you don’t use often.

Key Benefit: Real-time notifications mean you can catch surprises quickly and protect your accounts before things get worse.

Use verified channels

If someone reaches out claiming to be a bank rep or trusted advisor and asks for sensitive information, say that you need to call them back in a few minutes. Then call back using the phone number you already have on file for this person or firm. Never use the number listed in an email. Avoid looking it up online, too, because scammers often create fake websites with fake phone numbers. Even when you think you’re verifying, you could accidentally be calling the scammer directly.

Key Benefit: Verifying all communications can help prevent falling victim to phishing, vishing (voice phishing), or impersonation scams.

Security is never set and forget

Cybercriminals are constantly changing their tactics, going after both technology and human behavior. Staying secure means you have to keep adapting, too. Make a habit of reviewing your security setup regularly with your bank and cybersecurity experts. Keep up with emerging threats like AI-driven scams, deepfake voice calls, and data breaches so you know what to watch for.

Key Benefit: Ongoing check-ins and adjustments help your security keep up with evolving risks.

A layered, proactive security strategy ensures that your assets remain protected, your transactions remain private, and your peace of mind remains intact.