With Cyber Smart Week (21-27 October) just around the corner, now is the perfect time to ensure your financial and personal data is secure. As cyber threats rise, it’s more important than ever to safeguard your digital life. Here are the key takeaways you need to know to protect yourself from fraud, identity theft, and financial loss. The following are practical tips based on information CERT NZ, Netsafe, the NZ Police and other trusted sources to help you stay safe online and protect your valuable information.

1.     Monitor Your Financial Statements Regularly

Even with the best cybersecurity habits, things can still go wrong. Regularly reviewing your financial statements for any suspicious activity is a key step in protecting yourself.

How to stay ahead:

Many banks offer options to set up alerts for transactions or unusual account activity. Check with your bank to see if they provide these services and how you can enable them.

Getting started:

Visit your bank’s online portal or app and look for security settings or transaction alerts. This can give you peace of mind and help you detect unauthorised activity early.

2.     Strengthen Your Passwords (and Stop Reusing Them!)

Weak and repeated passwords make it easier for cybercriminals to access your accounts. A strong, unique password for each account is your first line of defence.

Pro Tips:

• Mix upper and lower case letters, numbers, and symbols.
• Avoid obvious choices like names or birthdates.
• If creating and remembering complex passwords feels overwhelming, use a Password Manager.  It automatically generates and securely stores strong, unique passwords for all your accounts, across all your devices so you don’t have to remember them yourself!

3.     Lock It Down with Two-Factor Authentication (2FA)

Add an extra layer of protection by enabling 2FA on your accounts. Even if your password is compromised, 2FA ensures hackers need a second form of verification to gain access.

Where to use it?

Your banking, email, and even social media accounts should all have 2FA enabled for the best protection.

4.     Stay Updated, Stay Safe

Outdated software is one of the easiest ways for hackers to access your data. Regular updates are critical for keeping your devices and accounts secure.

Take Action:

• Turn on automatic updates for your phone, laptop, and apps.
• Don’t ignore those pesky update reminders – they could save you from a data breach!

5.     Watch Out for Phishing Scams

Ever get an email that looks a bit off? Phishing scams are everywhere, and they’re designed to trick you into giving up your personal info. These scams often come in the form of fake emails, text messages, or websites designed to trick you into providing sensitive information, such as your credit card number or login details.

How to spot them:

• Be cautious of emails or texts that ask for personal information, especially if they appear urgent.
• Check the sender’s address carefully – many phishing emails use addresses that look similar to legitimate ones.
• Don’t click on links in unsolicited emails or text. Instead, go directly to the website of the organisation (such as your bank) to log-in.

If something seems off or too good to be true, it likely is. Always err on the side of caution and verify the source before providing any personal details.

If you think you have been scammed:

If you find yourself a victim of a scam, act quickly. Report the incident to CERT NZ (cert.govt.nz). They provide guidance on how to protect yourself after being scammed. Netsafe (netsafe.org.nz) also provide advice and support, including how to secure your accounts and report fraud.

6.     Secure Your Wi-Fi Network

Your home Wi-Fi network can be a gateway for hackers if not properly secured, while public networks are often not secure. An unsecured Wi-Fi connection – whether your at home or out and about – can allow cybercriminals to intercept your data, steal passwords, and access sensitive information.

Wi-Fi Tips:

• Use a strong password for your home network, change it regularly and make sure your firmware is up to date.
• Avoid using public Wi-Fi for anything involving personal or financial information.
• Consider using a Virtual Private Network (VPN) for an extra layer of security, especially when accessing financial or personal information online.

7.     Back Up Your Data – Ransomware is Real

Backing up your data is crucial in case of a ransomware attack or a major system failure. Ransomware is a type of malware that locks you out of your own data until a ransom is paid. Regular backups ensure you can restore your files without paying the ransom.

Pro Tip: Use cloud storage or an external hard drive, and schedule automatic backups so you don’t have to think about it!

8.     Cyber Insurance for Businesses

For businesses, cyber insurance can be a lifeline. It helps cover the cost of data breaches, ransomware attacks, and more. If you want to explore how cyber insurance can protect your business, our general insurance team is here to help.

Click here to book a free consultation and learn more about how cyber insurance can safeguard your business.

Stay Ahead of the Threats

Cyber threats are constantly evolving, and it’s important to stay informed and proactive about your online security. By following these tips, you can significantly reduce the risk of falling victim to cyberattacks and better protect your financial and personal information.

Cybersecurity isn’t just a one-off task – it’s an ongoing process. Stay alert, stay updated, and protect your online life. By following these simple yet effective tips, you can reduce the risk of cyberattacks and keep your data secure.

For more information or help if you think you’ve been scammed, check out these resources:

• CERT NZ
• Netsafe
• NZ Police

Stay cyber smart and secure your digital life!

The content of this article should not be taken as financial advice, or a recommendation of any financial product. These insights are based on current economic commentary, market pricing for interest rates, and our personal opinion. Threefold is not liable or responsible for any information, omissions, or errors present.