As tensions rise in the Iran conflict, cybersecurity experts are warning Americans to be on alert for potential cyberattacks especially targeting banks and personal financial accounts.
KPRC 2 anchor Andy Cerota spoke with cybersecurity expert Tim Newman, who urges consumers to build what he calls a “multi-layered defense.”
Newman says in today’s “heightened environment,” many clients are asking if their money is safe and what they can do to protect themselves. While you can’t control a bank’s internal security, he says you can protect your own accounts with strong password habits.
“We tell our clients to think about this in terms of layers of defense, And first, you need good password hygiene, strong, unique passwords that you change regularly and don’t reuse across accounts,” he said.
He also recommends turning on multi-factor authentication, so you’re alerted if someone tries to log in from an unfamiliar device.
“Of course, you always have to stay vigilant against phishing attempts. Banks generally won’t call and ask you for passwords or pins or other financial information, so if you get unsolicited communications asking for that information, you should be skeptical. Call your bank using a trusted phone number and see if they’re actually requesting that information.”
Keeping devices updated is another key layer, Newman says, because security updates help block new threats and can help you spot suspicious activity faster.
WARNING SIGNS:
So, what might warning signs look like? Newman says a breach could cause broader disruptions like temporary outages or trouble accessing online services. That doesn’t necessarily mean your personal funds are gone, but it can signal the bank is dealing with an issue. For individuals, red flags include alerts about unusual transactions or login attempts you don’t recognize.
If you believe your account has been compromised, Newman says act immediately
“Make sure you’ve got multi factor authentication in place, and start reviewing the transactions in your account,” he said.
This also looks like resetting your passwords, confirming multi-factor authentication is enabled, and start reviewing your transactions. The sooner you report unauthorized activity, the better your chances of getting money frozen or reversed often within the first 24 to 48 hours, says Newman. He also recommends documenting everything with screenshots and saving any messages from your bank.
And for businesses, he says cyber insurance may help but many policies require rapid notification.