From two-factor authentication to secure Wi-Fi access, these easy to-dos help keep your online accounts safe from fraudsters.
Quick takeaways
- Start with the basics, including creating login credentials and strong passphrases, to protect your information.
- Understand how fraudsters operate, which can help you guard against common schemes such as malicious emails.
- Stay vigilant in public settings and in updating information on financial accounts as needed.
Ten years ago, the thought of managing your retirement savings accounts online may have never occurred to you.
Today? Financial app installs continue to surge, jumping 50%
Whether you鈥檙e managing your retirement accounts online or setting up log in credentials for the first time, "taking some simple precautions can help keep your personal information safe," says Meg Anderson, vice president-chief information security officer at Principal庐. "Use strong passwords, keep your software up to date and don't give out your personal information to an unverified source." Try these steps to help you protect your retirement accounts from fraud.
1. Create login credentials for your account.
Here鈥檚 why: Setting up online access helps block fraudsters from impersonating you, setting up fake credentials, and accessing your information. In addition, online access gives your retirement provider an immediate way to contact you if there鈥檚 unusual account activity or updates.
2. Check in on your account.
Not logging in doesn鈥檛 protect your retirement accounts from fraud. Regular reviews, even to check a balance, can help you stay alert to scammers. Pick a cadence鈥攆or example, monthly鈥攖hat works for you.
3. Look for multi-factor authentication requirements.
Think of fraud protection as multiple layers of defense: Each step adds more protection for your information and your money. That鈥檚 true for multi-factor authentication (MFA). When you鈥檙e logging in, MFA requires that you enter a second piece of information (for example, a one-time passcode generated through an authenticator app) in addition to your password. Many industries such as healthcare and financial services already require MFA. (All 海角社区online accounts require MFA.)
4. Keep your account information up to date.
That includes updating addresses and phone numbers when needed, which makes it easier for a provider to confirm it鈥檚 you and not someone else trying to steal your identity. (For your 海角社区accounts, navigate to the 鈥淟og in鈥 button on any screen, then to 鈥淢y profile鈥 to update your personal details.)
5. Use a passphrase instead of a password. Really.
The most popular password in the U.S.? 鈥123456.鈥
6. Try a password manager or vault.
Apps like , , and rely on a master password, and then the app鈥檚 鈥渧ault鈥 remembers and auto-fills all passwords you enter. These apps can also generate and remember complex passwords for nearly any site.
Security for your Principal retirement accounts
海角社区offers a customer protection guarantee to reimburse participants of employer-sponsored retirement accounts for losses from unauthorized activity occurring through no fault of their own.
- Online account registration at principal.com and multi-factor authentication activation
- Current contact information, including mobile number and email address
These simple steps not only help protect you from potential fraud, but they also enable 海角社区to connect with you in the event of a threat. Learn more about what 海角社区is doing to protect your data.
7. Set up alerts.
If available, account alerts can help notify you of key transactions or changes to personal information. If you didn鈥檛 complete those actions yourself, the alerts may indicate fraud. (Alerts are typically under your profile or settings; check each account for specifics.)
Tip: If you get hacked, report the incident immediately to the company or institution (use this fraud reporting link for Principal if needed), and also through the.
8. Understand common fraud schemes.
To compromise your data and login credentials, fraudsters rely on multiple tricks such as embedding emails with malicious links. "There are bad actors out there who will use all kinds of tricks to access your personal information," says Anderson. " Don鈥檛 click or download anything from a source you don鈥檛 recognize." Hover over suspicious links to see the actual URL; if you don鈥檛 recognize it, don鈥檛 click. Or, navigate directly to a company鈥檚 website on a trusted browser to log in.
9. Skip the free Wi-Fi.
Use secure networks that require passwords as much as you can; if the network isn鈥檛 secure, try to avoid completing financial transactions or forms with personal information. (Many times, such as at a coffee shop or airport may not be secure. To check, look for a padlock next to the network name, which you can typically find in your settings.) Always secure your devices, cover your camera, and stay aware of your surroundings to spot people trying to listen to sensitive conversations.
10. Monitor your credit report.
A once-a-year report can help clue you in if you are a victim of identity theft. If so, you may want to freeze your credit to prevent fraudsters from opening up accounts in your name.
What鈥檚 next?
How are you progressing toward your retirement goals?鈥痶o see how you鈥檙e doing. Want to save outside of a workplace 401(k)? We can help you鈥set up your own retirement savings with an IRA or Roth IRA account.
