How to safe guard our personal and financial data?

Nowadays, privacy and security of personal data are often beyond your ability to control. However, there are many professional online safeguarding agencies which provide us severa ways to protect our data from being hacked. Here are some steps which you can take to safeguard your data.

Firstly, we have to know what data is required for a certain transaction and set limits accordingly. For example, a check cashing company may ask for your phone number, but you should question the need to supply your Social Security number. Then, we should recognize the “status” with the financial institution. Are we a “customer” with a continuing relationship, or a “consumer” with no data security protections? We have to be sure with the status.

Next, we should ask the financial institution about its data security program. We may not get an in-depth response or a copy of the company’s written policy, but we are entitled to be assured that the company takes data security seriously. Security is often important on a company’s web site along with its privacy policy.

Moreover, we have to keep up with the news. A financial institution has a single publicized instance of a security breach does not mean it’s a bad company. An important indicator is what that company does to help its customers after a reported breach. For example, does the company offer to provide free credit monitoring services to limit the threat of identity theft? This would definately help in safeguarding our personal and finacial data.

Then, we have to shop for good security programs. In Fact Sheet 24c, we are on provided on some tips how to shop for companies with a good privacy policy. We can refer to How to Shop for Financial Privacy, www.privacyrights.org/fs/fs24c-ShopFin.htm. If a company does not seem serious about protecting your privacy, you might question its commitment to security as well. Take your business elsewhere.

Next, we should protect the information that we keep especially in business. Limit access to employees with a legitimate business need. Control who has a key, the number of keys and know when information is being accessed. Besides that, Use antivirus and antispyware software, as well as a firewall, and update them all regularly. Also, use a password activated screen saver to lock your screen whenever you are not in front of it. The longer the password, the better. Use passwords with a mix of letters, numbers & characters and frequently change your password. Moreover, do not use the same password for all of the various accounts you access with a password.

I hope these safeguarding techniques would help in protectin our personal and financial data.