We’re doing more things digitally, from banking to shopping to accessing government services. All of that brings convenience into our lives — but also the need to protect our data toavoid digital fraud.
Hackers and scammers are constantly coming up with sophisticated new schemes, making it harder to tell what’s real or fake, or which messages are genuine and which are part of phishing scams. (According to an Interac study, 96 per cent of Canadians failed to identify the safest way forward when presented with a phishing scam.)
No wonder people are feeling worn down by repeated fraud and scam attempts.
Here are 11 data security tips to help you avoid falling prey to online scams:
Aim to create ugly passwords. What does that mean? When you ensure your password follows best practices — so it’s a minimum length of eight characters, with a combination of upper- and lower-case letters and at least one number and one special character — the result is a password that doesn’t look so easy on the eyes. (For example, rather than simply “jaysfan,” come up with something more like J@yzFan*92.)
2. Don’t click on phishing links that lead you to sign in to your email or your online banking
If you receive an email or text message you weren’t expecting and it’s prompting you to log in to your online banking or accept funds through an online money transfer, don’t click on the link. It could be a phishing scam. Contact the sender through another channel to find out if the notification is legitimate. If you think the notification is a scam masquerading as an Interac e-Transfer transaction, forward the email to phishing@interac.ca so our fraud team can investigate it.
3. Avoid sharing personal identifiable information online
The more hackers know about you, the easier it can be for them to scam you. So avoid sharing personal identifiable information online. You can learn more here about how hackers use the web and social media to piece together information about you — everything from your car’s make and model to your pets’ names (the article can help you tidy up any breadcrumbs you’ve left for potential hackers).
Also beware online trivia games that ask you to share your birthday, your mother’s maiden name, or similar identification questions.
4. Set up two- (or multi-) factor authentication on email accounts
Multi-factor authentication is a method for proving you are who you say you are using at least two verification factors. For example, you may set up an account so it requires you to enter a password to log in, as well as a single-use code that arrives via text message (if you have the code, it proves you are in possession of the phone number associated with the account.) If your email provider doesn’t have a two-factor authentication process, consider switching to an email provider that does.
5. Don’t use the same passwords for online banking or email accounts that you use to access your social media sites
You don’t want to be in a situation where a hacker gets access to all of your accounts just by obtaining one password. It’s important to not only use different passwords for each site or service, but also to change those passwords regularly. How to keep them all straight? Try using a password manager — that’s an app that lets you securely keep track of your passwords.
6. Regularly update your devices to make sure you’ve got all the latest data security enhancements
Software updates, including updates on the operating software of your phone can include new security measures. Also, don’t forget to check your device for malware if you notice suspicious activity.
7. Never click on any links you weren’t expecting
If you receive a deposit or online money request notification by text or email that you weren’t expecting, don’t open it. Contact the (supposed) sender through another channel and ask them whether the transaction is legitimate.
8. Make sure you enter the email address or SMS (phone) number correctly when sending an online money transfer
Part of keeping your money secure is making sure it ends up going to the right place. When you’re sending money with Interac e-Transfer, double-check you’ve got the right information for the recipient before you confirm it. If there’s a mistake, the funds could end up in the wrong hands.
9. Be sure you know who you are sending the online money transfer to, and that they are a trusted person or vendor
Online money transfers are used to transact with people, businesses and other parties you know and trust. When you receive a request for money, beware. Once again, messages that arrive unexpectedly are a big red flag, especially when they’re asking for money.
10. Choose a strong security question
If your email has been hacked, scammers can intercept any message you receive, including money transfers. That means, if you don’t have Interac e-Transfer Autodeposit set up, you need to make sure your security question is strong (That means no more “What colour is the sky?”).
A good security question is one where the answer cannot be easily guessed — for example, “What is your mom’s middle name?” or, “What is the secret password I gave you?” It’s a good idea to agree on a shared secret security question before sending the Interac e-Transfer transaction.
11. If you’re using security questions to send an online money transfer, make sure you’re not sending the password answers through your email
To be safe, communicate security-related information through a different channel (like a voice phone call).
When inputting the information to send money using Interac e-Transfer, it’s important not to use the memo field to share the answers to security questions. This would enable an email hacker to answer the question. It would be like locking up your goods in a box and then leaving the key on top.
Finally, keep in mind that hackers can try searching online for the answers to your security questions.
That’s why “What’s my pet’s name?” isn’t a very secure question: If you’ve posted about your pet somewhere (and who hasn’t?), then hackers would be able to answer the question.
More fraud prevention and cyber security tips
Set up Interac e-Transfer Autodeposit for an extra layer of digital security
Interac e-Transfer Autodeposit is a feature that enables you to receive money without having to set up a security question and answer — the funds automatically and directly go to your bank account following a routine fraud check by your financial institution. With Autodeposit set up, you can avoid the risk of having your funds intercepted by fraudsters who may have access to your email account, because the funds are directly deposited into your bank account with no additional steps needed.
Practise the ‘Three Ss’ — Stop, Scrutinize, Speak up
Whenever you think you may be a target for a scam, Interac advises taking a “Three S approach,” meaning you Stop before acting on an unusual message or request; Scrutinize the situation carefully; and Speak up if you have been targeted by reporting it to the Canadian Anti-Fraud Centre.
Canadians are a first line of defence in preventing online fraud and have an important role to play when it comes to protecting themselves and their identity online. Armed with confidence, awareness, and the right information, you can do your part to protect your data from digital fraud.
Protect yourself against digital fraud by performing a digital security self-check.
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