Can Social Media Be a Security Risk For Your Finances?

With the amount of information shared via social media, it's more important than ever for individuals to be prepared for potential risks. These five tips can help you stay safe and protected when it comes to your social media and finances.

1. Password Protection

In this day and age, everyone shares and stores information on mobile devices and via app software. Using unique passwords is key when it comes to keeping your information safe. If a hacker acquires a password, the first thing he or she will most likely do is try that password on all other platforms. If your passwords are all the same, then the hacker can get into all of your profiles and accounts.

2. Phishing Attacks and Scams 

Phishing attacks and scams aim to collect your personal data. Scammers do this by tricking you into submitting your personal information or clicking on a malicious link. Once these scammers have access to your data, they can have a field day with your accounts. If a request or link seems suspicious, delete it! 

3. Risks in Oversharing

Social media encourages you to frequently share what you're doing, where you are, and who you're with. Be cautious when it comes to oversharing! If you're going on vacation, consider holding off on posting pictures until you return to eliminate the risk of .home theft while you're away; or worse - a new and scary scam called "cyber kidnapping" where criminals target your loved ones claiming to have kidnapped you for ransom and using your personal, public information to make it seem real.

4. Avoid Public WIFI Networks 

Connecting to free WiFi is an incredibly dangerous situation, regardless of what you’re doing online. Public WiFi networks provide hackers with easier access to your information. Always ensure a network is secure before connecting!

5. Keep Accounts Private

Debatable...Public accounts are an open invitation for a hacker to steal your personal information or for a future employer to poke around your past. If you share too much information on a social network, you may be enabling someone to collect enough information to take over your email, social networking, and financial accounts.