Digital Defense: Protecting Your Money and Identity

Digital Defense: Protecting Your Money and Identity

A cybersecurity guide for National Cybersecurity Awareness Month.

October is National Cybersecurity Awareness Month, and there's no better time to take a fresh look at how you're protecting your money and personal information. Safeguarding your finances matters all year long, but October is a great month to review your security controls, update your information, request your annual credit report, and refresh your defenses.

What Is Cybersecurity?

According to the National Cybersecurity Alliance, cybersecurity is “the practice of protecting private information, computer systems, and device networks from unauthorized access which could result in damages or theft of information. These practices involve the application of various technologies, processes, and security measures to defend against a world of threats to your data.”

In plain terms, it's the steps you take to keep your accounts, devices, and personal information out of the wrong hands.

Why Cybersecurity Matters to Your Finances

With so much of our information digitized nowadays, cybersecurity is no longer just a technology concern; it's an important part of your financial life. Some experts even consider strong cybersecurity a pillar of financial health. The money you've worked hard to earn deserves the same care and protection you'd give anything else of value.

And the stakes are real. According to the Federal Trade Commission's Consumer Sentinel, in 2025, there were $15.9 billion in total scam losses reported, and the AARP reports an estimated 42% of adults have experienced fraud through stolen money or information. The good news: a few consistent habits can dramatically lower your risk.

How Fraudsters Commit Their Acts

Understanding how scammers operate is the first step to staying ahead of them. Their tactics generally fall into a few categories:

Deception. Fraudsters impersonate businesses, government agencies, financial institutions, and even people you know. They use spoofed emails or phone numbers that look like they're coming from legitimate sources, build fake websites or apps to capture your login credentials, and increasingly use deepfake technology to clone the voices or images of family members, employees of known businesses, and government officials.

Gaining access. They'll try to take over your devices, financial accounts, social media, and email, sometimes by convincing you to install screen-sharing or remote-access software under a false pretense. Phishing, smishing (text-based phishing), and vishing (voice-based phishing) all work the same way: tricking you into clicking, responding, or downloading something that installs malicious software (malware) on your device.

Financial grooming. Romance scams, fake business or investment opportunities, and social media friendships are all ways fraudsters build trust over time before asking for money or access to your accounts. Rather than hacking systems, fraudsters use social engineering to manipulate people.

A Simple Annual Cybersecurity Checklist

This October, give your security a thorough refresh. Here are the habits that matter most:

• Enable multi-factor authentication (MFA). MFA adds an extra layer of protection by requiring a second step like a code sent to your phone to log in. If someone learns or hacks your password, MFA can still stop them.
• Use strong, unique passwords and don't reuse them. Reusing the same login across multiple platforms means one breach can expose everything. A password manager can generate and remember unique logins for you, so you only need to remember one master password.
• Monitor your accounts regularly. Use online or mobile banking to review your account activity and statements and report any unauthorized or fraudulent transactions immediately.
• Set up account alerts. Turn on notifications for large deposits, withdrawals, and unusual activity so you hear about problems right away.
• Check your credit report periodically. Review your credit report and notify the reporting agencies of any discrepancies. Watch for signs of identity theft, like accounts or bills for services you didn't authorize.
• Be skeptical of unsolicited messages and requests. That includes unexpected social media connections. If something feels off, trust that instinct.
• Never share your login credentials, one-time passcodes, account numbers, or other personal information unless you initiated the request and you're certain you're speaking with the legitimate business or contact.
• Keep your devices and software up to date. Install security patches, antivirus software, and app updates as soon as they're available. Hackers look for predictable vulnerabilities.

A Few Rules That Always Hold

Some guidance from our own fraud and security experts bears repeating, because it can stop the most common attacks:

• Don't click links in texts or emails from sources you weren't expecting. If a message pressures you to act fast, that urgency is a red flag.
• Only log in to Online Banking from becu.org or the BECU mobile app. Be cautious clicking links from search engines. Fraudsters create websites designed to look like BECU.
• Hang up and verify. If someone contacts you unexpectedly asking for money or personal information, hang up and call back using a phone number on file or one you look up yourself, not the one they provided. Phone numbers can be spoofed.
• Never share one-time passcodes. A legitimate financial institution won't ask for your password, one-time passcode, full debit or credit card number, or PIN via text, email, or phone.

What to Do if You've Been Targeted

If you think you've been targeted or have already responded to something that felt like a scam, act quickly:

1. Call BECU at 800-233-2328 (members) or 800-704-8080 (business members).
2. If you're on the phone with someone who contacted you unexpectedly, hang up and call the phone numbers you have on file to verify the request.
3. Update your login information, including your user IDs and passwords.
4. File a complaint with the FBI at their Internet Crime Complaint Center.

Scams can lead to the theft of your money or identity, and it can be difficult to get your money back. That's why prevention is always the best defense.

BECU Tools That Help

You don't have to build your defenses alone. These BECU resources are designed to help you protect what's yours:

• Online and mobile banking — review your accounts anytime, set up alerts, and manage your security settings.
• Account Code Words — add an extra verification step so you can confirm you're really speaking with BECU.
• Account alerts — get notified of large deposits, withdrawals, and unusual account activity.
• Debit Card fraud alerts — real-time notifications if suspicious debit card activity is detected.
• Fraud & Security Center — a hub of guidance on recognizing and avoiding scams.
• Credit Card fraud alerts — real-time notifications if suspicious credit card activity is detected.
• Zogo — bite-sized financial education, including tips on avoiding fraud.

Member Resources

For more information and ongoing support, these trusted resources can help:

• Digital Security Tips to Protect Your Data
• Member Account Security
• FTC: Scams & Consumer Advice
• Identity Theft Resource Center (ITRC)
• FBI Internet Crime Complaint Center (IC3)
• National Cybersecurity Alliance
• AARP: Scam and Fraud Alerts

Make It a Year-Round Habit

Cybersecurity Awareness Month is a great prompt to refresh your defenses, but the habits that protect your money work best when you practice them all year. Strong passwords, account alerts, healthy skepticism, and quick action when something seems off are small, consistent steps that can help keep your finances secure long after October ends.