FRAUD PREVENTION
Best Practices for Password Protection
Your passwords are the first line of defense against cybercrime.
Stolen passwords from previous breaches are often sold on the dark web. Therefore, reusing the same passwords across multiple sites or accounts significantly increases the risk of cybercriminals using those passwords to access your accounts.
Fraud - Password Protection
With your passwords, fraudsters can:
- Transfer funds out of your accounts or make purchases.
- Create a fake identity with your information and use it to open credit cards or apply for loans.
- Phish using your email address or social media accounts to reach your contacts and convince them to share sensitive information.
- Steal your identity and claim your tax refund or government benefits.
Be proactive:
Never reuse passwords.
Use a password manager to store your passwords in a single secure vault that can also create strong, complex passwords for you.
Never write down your passwords or store them in a file on your computer.
Use phishing-resistant multifactor authentication.
Use biometric logins (face, fingerprint recognition) when possible.
Lock mobile devices when not in use.
Avoid public, unsecured Wi-Fi networks.
Use a PIN for tax submissions and government benefits.
If your passwords have been compromised:
Act quickly to change passwords that you think may have been stolen or exposed in a third-party breach, if you receive a changed password notification from providers, or if your account access changes on apps.
Freeze financial accounts that may be affected and inform credit bureaus.
Know and follow your local laws and guidelines for cyber incidents.
Document everything about the event. The more information you have, the better armed you will be to assist in an investigation and the better prepared you will be against future events.
Follow the company reporting procedures.
Your security is our top priority
We will never contact you asking for your financial or personal information or ask a second person to log in to your computer to unlock your access. If you receive a message requesting confidential information that claims to be from us, do not click any links, and contact us at 888-539-7928.
As a business, it is vital to inform your employees about password protection best practices. Share this information with your team and consider developing fraud prevention programs or procedures. Educating your employees and having clear steps to follow can help safeguard your business against cyber threats.
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