With the convenience of digital banking comes the heightened risk of cyberthreats. Therefore, safeguarding your financial information is no longer just a priority—it’s a necessity. At BNC National Bank, we employ cutting-edge technology and rigorous practices to keep your information secure.
Nonetheless, your own awareness of cybersecurity in banking and proactive efforts are increasingly crucial. Read on for key actions you can take to enhance your cybersecurity and protect your financial data.
How Community Banks Are Enhancing Cybersecurity Measures
For community banks such as BNC National Bank, customer data protection involves combining regional focus with advanced technology, resulting in tailored, effective security.
- Localized security measures: By creating targeted security solutions, community banks are able to address the exact risks of your area. This focus on regional vulnerabilities means more effective protection for your data.
- Informed protection strategies: Community banks prioritize educating customers about proactive cybersecurity practices they can take, such as identifying phishing scams, enabling multifactor authentication, and using strong and unique passwords.
- Advanced security technologies: Using cutting-edge firewalls and encryption, along with making consistent updates and detailed audits, ensures security remains at the highest level.
Get more details on our cybersecurity in banking practices.
Best Cybersecurity Practices for Customers to Protect Their Banking Information
While BNC National Bank ensures protection for your information, you can also boost your security with these important practices:
1. Recognizing Phishing Attempts
Phishing is a method by which attackers attempt to deceive you into providing sensitive information—whether pretending to be a trustworthy entity or otherwise enticing you with urgency or fear. In its many forms, phishing is one of the most common cyber threats. These attempts can come through traditional emails, text messages (smishing), phone calls (vishing), instant messages, and social media. It’s important to be able to recognize these tactics to avoid becoming a victim.
For example, legitimate bank employees will never ask for your multifactor authentication (MFA) one-time passcode or other sensitive information that they already have on file. Be wary of any unsolicited communication asking for such details—especially if the message creates a sense of urgency or fear.
2. Using Secure Networks
When accessing your bank accounts online, it’s important to use secure Wi-Fi networks rather than public ones. Public networks are vulnerable to man-in-the-middle attacks, where cybercriminals intercept your data. To secure your home network, change default router settings and use strong, unique passwords. Enabling network encryption (WPA2 or WPA3) is also vital for protecting wireless communications.
Consider using a virtual private network (VPN) service when using untrusted, guest, or public networks. By encrypting your internet traffic, VPN services ensure that these networks cannot intercept or sniff your data. Be sure to do your research and use a trusted service, as your internet traffic will only be encrypted from your device to the VPN provider.
3. Implementing Strong Password Policies
Creating and managing strong passwords is one of the simplest yet most effective ways to protect your banking information. A strong password should include a mix of uppercase and lowercase letters, numbers, and symbols. Avoid using easily guessable information, such as birthdays, names, or common words.
It's critical to use unique passwords for different accounts and update them regularly. Password managers can help you generate and store complex passwords securely, making it easier to manage multiple accounts without compromising security.
4. Enabling Multifactor Authentication (MFA)
MFA adds an extra layer of security to your accounts by requiring not just a password but also a second form of verification. This could be a code sent to your phone or generated by an app. MFA makes it significantly harder for unauthorized users to gain access to your account—even if they have your password.
Setting up MFA is simple and can usually be done through your bank’s security settings. Regularly review and update your MFA settings to ensure continued protection. Remember, never share your MFA one-time passcode with anyone; this will compromise your account’s security, and lead to fraud.
5. Regularly Monitoring Accounts
Finally, keeping an eye on your account activity is an essential step in safeguarding your banking information. Regularly review your bank statements and set up alerts for transactions so that you can quickly identify any unauthorized activity. Promptly reporting any suspicious transactions to your bank can prevent damage, improve fraud loss recovery, and ensure that your account remains secure.
Future Cybersecurity in Banking Trends
As cyberthreats continue to evolve, so too must the strategies and technologies used to combat them. Here are some emerging trends in cybersecurity in banking that are shaping the future of financial security:
Artificial Intelligence (AI) in Security
AI-powered systems are increasingly being used to analyze vast amounts of data and detect anomalies that could indicate a cyberthreat. These systems can identify and respond to threats in real time, providing a proactive defense against potential attacks. However, despite their benefits, the potential for convincing deepfake impersonations means that continuous vigilance and adaptation are essential.
Blockchain Technology
Blockchain technology offers a decentralized and immutable way to enhance data integrity and transparency. In banking, it supports secure transaction processing, identity verification, and fraud prevention. As more institutions adopt this technology, its role in cybersecurity is expected to expand, further strengthening financial security.
Biometric Authentication
Biometric authentication methods, such as fingerprint and facial recognition, are becoming more common in the banking industry. These methods provide a secure and convenient way for customers to access their accounts, reducing the reliance on passwords and making it more difficult for unauthorized users to gain access.
Cloud Security
As more banks move to cloud-based systems, strengthening cloud security measures has become increasingly essential. Protecting sensitive financial data that’s stored and processed in the cloud requires robust security protocols and continuous monitoring to prevent breaches.
What BNC National Bank Does to Ensure Safety
BNC National Bank offers a range of educational initiatives to help our customers stay informed and proactive in protecting their information. This includes ongoing training programs that empower our customers to recognize and respond to cyber threats effectively, fostering a proactive security culture.
We provide a variety of resources and tools designed to enhance security and protect against fraud, such as:
- In-person and virtual workshops that offer comprehensive training on cybersecurity best practices
- Online guides that contain step-by-step instructions for securing your transactions and preventing fraud
- Interactive sessions that provide hands-on learning experiences focused on real-world cybersecurity challenges
- Positive pay, transaction restrictions, and enhanced wire validation that add layers of protection against unauthorized activities
- Regular newsletters and blog posts that contain cybersecurity tips, updates on emerging threats, and best practices to keep our customers prepared to protect their accounts
Our team swiftly investigates security concerns and incidents with a team that identifies, contains, and mitigates threats. We maintain transparent communication to keep customers informed and empowered with actionable information.
Securing Your Financial Future with BNC National Bank
Security in banking is a partnership that requires both banks and customers to be vigilant and proactive. At BNC National Bank, we are committed to providing our customers with the tools, knowledge, and support they need to protect their financial information. By staying informed and adopting best practices, you can help safeguard your banking information and enjoy the peace of mind that comes with secure banking.
Discover more ways we can enhance your financial security—together.
