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Banking Tips

Cyber security tips this Cyber Security Month

By COBA
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October marks Australia’s Cyber Security Month, a perfect reminder to strengthen your digital defences. With cyber threats on the rise, taking simple, proactive measures can help protect your personal and business accounts.

The Australian Signals Directorate have provided a variety of tools and resources to guide you on upgrading your cyber security awareness. Follow these five tips to help keep you safe online.

MFA adds an extra layer of security to your accounts, requiring two or more verification methods, like a password and a smartphone code before allowing access. Even if a hacker gets hold of your password, they can’t access your account without the second factor. Most banks, social media, and email providers offer MFA, and you should choose to use this feature where available as it can drastically reduce your chances of being hacked. Follow the ASD’s guide to learn how to get started with MFA.

Outdated software often contains security vulnerabilities that hackers can exploit. Ensure your devices are set to install automatic updates, which include important security patches. Regularly updating your system strengthens your defence against cyber-attacks. Take the ASD’s quiz can help you assess your knowledge of updates and ensure your devices are secure.

Passphrases are composed of random words, like “crystal onion clay pretzel”, and are more secure than traditional passwords. Avoid reusing passwords across multiple accounts to reduce the risk of a breach. Using a reputable password manager is a smart way to store and create unique, strong passphrases. Learn how to create secure passphrases and better protect your accounts.

Phishing is a common cyber-attack where scammers trick you into revealing sensitive information, such as login credentials through fake emails or websites. Be cautious of urgent messages that ask for personal details or contain suspicious links. If you suspect a phishing attempt, report it to your email provider or security team. Test your knowledge of phishing with the ASD’s quiz to stay sharp against these scams.

Businesses are frequent targets for cyber criminals. Strengthen your organization’s security with tools like the ASD’s “Exercise in a Box,” which tests your ability to respond to cyber threats. The ASD provides a range of resources for business and government agencies to improve their cyber security and prevent potential attacks.

Cyber security is crucial for everyone. By enabling MFA, keeping software updated, using strong passphrases and recognising phishing attempts, you can significantly improve your online security. This Cyber Security Month, take action to protect your personal and business data. Stay vigilant, stay secure!

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