How Do You Protect Your Brokerage and Bank Accounts From Hacks?

It's unlikely for hackers to access your account. In fact, most banks of brokerage firms will reimburse any amounts lost to unauthorized activity. But there are ways to enhance your security.

By Andia Rispah Igobwa

Edited by Lorinda Browne

Published May 5, 2021

Hackers can use many hurdles they would have to clear before they can access your brokerage or bank accounts. Most banks of brokerage firms have policies that will reimburse you for any amounts you lose to unauthorized activity, as long as you take the basic precautions they have set.
But there're other few hacks you can use to make it even harder for them to hack your accounts as follows;
Create a strong password and security questions
Keep your login and account information private
Keep contact information up to date
Monitor your accounts, statements, and transaction confirmations regularly
Notify the brokerage firm or your bank promptly of any suspicious activity
Cooperate with your bank or brokerage firm during any investigation of suspicious activity