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Instead, theyre relying on the accessibility ofonline bankingand banking apps.
Another study byChasefound that 87% of Americans use their banking app at least once per month.
However, with the rise of online and mobile banking also comes an increase in cybercrime.
According to the FBI, over $4 billion was lost to cyber criminals in 2020 alone.
This means its more crucial than ever to check that youre protecting yourself and your money.
The last thing you want is to use a password like 111111 or 123456.
This is going to make it much easier for criminals to gain access to your accounts.
Use random passwords for each of your online accounts, Nicole said.
If possible, never use the same password for more than one account.
I would also suggest making it as long and as strong as possible.
Use lower and upper case letters, numbers and special characters.
If youre using different passwords for each online account, it can get difficult to remember each of them.
Nicole frequently recommends 1password.com to friends and family.
Thats why many organizations are now using two-factor authentication.
This adds an extra layer of security to yourbank account.
If youre offered the ability to use two-factor authentication, do so, said Nicole.
Cyber criminals will go to great lengths to be able to uncover your sensitive information.
Be cautious when youre doing anything online, Nicole said.
Only visit reputable websites that you trust, and only open emails from people you know.
When they are successful, they have a good chance of uncovering your personal information.
Using an unsecured connection can make it much easier for someone to track what youre doing.
With the rise in artificial intelligence, spotting fraud is going to become even easier.
That created inefficiencies for tracking fraudulent transactions.
Some banks will even allow you to receive an alert each time your account is used.
For example, have you ever shared something about your childs birthday?
If your social media profile is public, anyone has access to your childs name and their birthday.
This information can be used for the wrong reasons.
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