Avoiding Common Errors in Cybersecurity

Protecting your online accounts requires more than just choosing the right words. Even the strongest passphrase in the world cannot protect you if you make fundamental errors in how you manage your digital presence. Here are the most critical mistakes to avoid.

Ignoring Two-Factor Authentication (2FA)

Two-factor authentication (also known as Multi-Factor Authentication, or MFA) is your safety net. When you turn on 2FA, logging into your account requires two steps: something you know (your password) and something you have (your smartphone).

After you type in your password, the website will text you a six-digit code, or you will retrieve a code from an authenticator app on your phone. You must enter this code to complete the login. Checking your brokerage account security guidelines through resources like Investor.gov will invariably point you toward enabling 2FA. If a hacker in another country guesses your password, they still cannot access your money because they do not have physical possession of your mobile phone to receive that six-digit code.

Falling for Phishing Scams

Phishing is a deceptive practice where criminals send emails or text messages pretending to be reputable companies. They might send an email that looks exactly like it came from Medicare, claiming there is a problem with your coverage and providing a link to “verify your account.”

If you click that link, you are taken to a fake website designed to look perfectly legitimate. When you type in your username and password, you are handing them directly to the scammers. The AARP Fraud Watch Network tracks thousands of these scams daily. The rule to avoid this error is simple: never click a link in an unsolicited email or text to log into an account. If you receive an alarming message about your bank, close the message, open your web browser, and manually type in your bank’s website address to check your account status securely.