ICBA Shares Consumer Tips to Protect Financial Data During Cybersecurity Awareness Month

Washington, D.C. (Oct. 1, 2024)—In recognition of Cybersecurity Awareness Month this October, the Independent Community Bankers of America (ICBA) and the nation’s community banks are offering valuable tips to help consumers protect their sensitive financial information and minimize the risk of cyber threats.

“In today's digital age, safeguarding your financial data requires ongoing vigilance and proactive security measures,” ICBA President and CEO Rebeca Romero Rainey said. “Community banks are committed to protecting customer data through strict privacy standards and robust educational initiatives. By staying informed and implementing simple security practices, consumers can play a vital role in maintaining their online safety.”

Tips to Minimize Your Risk

While no method is completely foolproof, you can significantly reduce the risk of online identity theft by:

• Never respond to unsolicited requests for personal information, such as your banking ID, account number, username or password, even if they appear to originate from your bank, government agencies or companies with which you have a relationship.
• Creating strong and unique passwords: Use complex, unique passwords for each of your online accounts to avoid a domino effect if one password is compromised. Consider using a password manager to securely store and generate passwords and change them regularly.
• Enabling security features: Use the strongest multifactor authentication options offered by your bank. This adds an extra layer of security by requiring a second form of verification, such as a code sent to your mobile device, in addition to your password. Consider using an authenticator app or a secure token.
• Guarding against phishing attempts: Be cautious of emails, texts, or phone calls asking for personal information. Phishing scams often mimic legitimate companies, so double-check the sender's details, avoid clicking on unknown links, and report suspicious messages.
• Maintaining up-to-date software: Regularly update your devices' operating systems, apps, and antivirus software to protect against the latest security vulnerabilities. Automatic updates can help you stay protected without the hassle of manual intervention.
• Monitoring accounts for unusual activity: Frequently review your bank and credit card statements for unauthorized transactions. Notify your bank immediately if you spot anything suspicious.

Learn more about how to protect your digital life during Cybersecurity Awareness Month by visiting the Stay Safe Online website. Additional resources are available through the Department of Homeland Security and the Federal Bureau of Investigation.

About ICBA
The Independent Community Bankers of America® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation’s community banks through effective advocacy, education, and innovation.  

As local and trusted sources of credit, America’s community banks leverage their relationship-based business model and innovative offerings to channel deposits into the neighborhoods they serve, creating jobs, fostering economic prosperity, and fueling their customers’ financial goals and dreams. For more information, visit ICBA’s website at icba.org.