Navigating security in the age of online banking

(NC) As Canadians increasingly bank and manage their money online, it’s crucial to stay vigilant in safeguarding your transactions and personal information safe and secure.

According to Shekher Puri, RBC’s VP, digital components and platforms, there are a number of easy-to-use digital tools and steps you can take that can help protect you whenever you’re online.

• Use multi-factor authentication when possible: Two-factor authentication, or two-step verification, provides an extra layer of security and makes it harder for cybercriminals to steal your information when banking or making transactions online. It does this by using two separate factors to make sure you are who you say you are. For example, when using two-step verification for online banking, after you enter your username and password, you will receive a notification on a trusted device asking you to allow the login. This ensures that even if someone has your username and password, only you can access your banking information and conduct transactions. While some apps and websites use this type of authentication automatically, some leave the decision up to the user, which is a smart step to take every time you are online.

• Use alerts to spot suspicious activity: There are several types of alerts that send a notification if there is out-of-the-ordinary activity on an account. For example, with a fraud alert, you will be notified if there is an unusual banking or credit card transaction. That’s why it’s important to set up these alerts with all your financial institutions.

• Use a trusted device: Only use devices you are familiar with when banking or managing your money online. This means your own personal smartphone, tablet or laptop. It’s also important to only use secure Wi-Fi connections, not public networks.

Learn more about the digital tools available and the steps you can take to stay safe online at rbc.com/cyber-security/how-to-protect-yourself-online.