The internet’s meteoric rise has impacted all aspects of society. The ease with which it has enabled individuals and businesses to conduct financial business online has grown to the point where, in 2022 (the most recent year for which data is available), some form of digital payment is now used by nearly nine in 10 Americans*
Regrettably, this convenience has also been accompanied by an ever-increasing threat to the security of the network and its users.
In fact, cybersecurity had become such an important issue by 2004 that the President of the United States, along with Congress, declared October of each year to be Cybersecurity Awareness Month in an effort to spread awareness of the potential threats as well as the ways to mitigate them.
Understanding the need for cybersecurity awareness
With so many bad actors seeking to exploit network weaknesses, the consequences of a cyber-attack are potentially devastating. They could range from the theft of personal user data and proprietary business information to the compromising of our national security, power and communications infrastructure.
To date, many high-profile government networks have already been the target of multiple cyber-attacks. The fact that the consequences of these attacks have generally been minimal can be linked directly to our ability to maintain a high level of cybersecurity awareness.
That said, just as the government safeguards our national information, individuals and businesses need to take steps to proactively protect their personal information.
Take these simple actions to protect yourself
Protecting yourself and your business against the majority of cyber-attacks is pretty simple. Fortunately, many of the most effective ways to keep your systems and information safe fall into the “an ounce of prevention is worth a pound of cure” category.
Here are a few of the simplest, yet best, tactics, you can use to spoil a cybercriminal’s day:
- Up your password game: Create strong, unique passwords and do not use the same password on more than one website.
- Take your sign-on access to the next level: Enable two-factor authentication (also known as “multi-factor authentication”) whenever available. With two-factor authentication activated, even if a password is compromised, cybercriminals will still be unable to access your account.
- Keep software current: Make sure that you download and install the latest versions of your programs and firewall software, as well as any official security updates.
Learn how to recognize cyber-threats
Cyber-attacks often start with a phishing email that tricks the recipient into downloading a malicious link or clicking on a link that triggers invasive software to be installed on the victim’s device or computer.
Here are a few ways to identify a phishing email.
They often:
- Pretend to be from a company that you have a relationship with, such as a bank or online retailer
- Contain misspellings and poor grammar
- Include low-resolution graphics inferior to those found on the company’s official web site (never click on a link in the email. Instead, type in the company’s URL in your browser
Teach your children how to stay safe online
If you have children in your household who access email and engage in other online activities, make sure they know how to identify phishing emails and to never click on links from anyone they do not know personally.
*McKinsey & Company, Consumer trends in digital payments https://www.mckinsey.com/industries/financial-services/our-insights/banking-matters/consumer-trends-in-digital-payments