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DIGITAL SAFEKEEPING In the future, we won’t get to simply stash our cash in a safe or under a mattress. New forms of finance mean new protocols for keeping your money safe.
 
Keeping Online Integrity While many governments offer individual reimbursements from fraud, business accounts are not always guaranteed the same security, and online banking and fraud protection are not typically in the hands of the user. Look for financial institutions that have good security—sometimes it’s hard to find out which ones have been hacked, because no one wants to disclose that information. Use robust passwords in online banking, change them often, and don’t reuse old passwords. Limit who you share banking authentication credentials with to reduce the chance
of unauthorized transfers or transactions.
 
Stay Secure with a Selfie Banks are motivated to use secure systems. Passwords can be difficult to enter on a mobile device, so banks have other secure authentication systems options: your fingerprint, a PIN, or facial (or even voice) recognition. The secure selfie is even hacker proof—you must blink or make a facial gesture that you can’t duplicate with a photograph.
 
Be Safer with Biometrics Biometric verification has been thought of as the great fail-safe. The idea is that it’s near impossible to replicate someone’s fingerprint or iris or retina, although hackers (and Hollywood) have shown ways to duplicate a fingerprint. Unlike a password reset, it’s not that easy to get a new fingertip or eye. There are, however, security combinations that use hashed biometric data for three-factor (adding a biometric to the password and token) or even four-factor identity verification involving a second biometric. The more factors that are required for a transaction, the harder it is for a thief to steal or replicate them.
 
Practice Credit Control Use multiple credit accounts. The first is for automatic monthly payments; the second (with a low limit) for spontaneous online purchases and the like (this number can be virtual, or even single use, so you have to get new ones each time you want to use the account); and a third for physical shopping, with a slightly higher credit limit. Monitor your credit score. You’ll know if there is a change in your score and be empowered to fix it. Check your bank accounts on a regular basis via a dashboard or phone app, and set up notification for certain transactions and amounts. Tell your bank or credit company when you are traveling so it will allow your purchases. Know your bank’s customer service numbers and how to stop payments or authorize a charge on your mobile app.