These days banks are doing their part to make it easier for you to protect your finances. They are looking out for you by advancing their securities. It is much harder to hack computer systems at banks. Firewalls upon firewalls surround their networks. Anti-virus protection and encryption protects data to the nth degree. They also instill procedural safeguards in their employees to protect against unauthorized access to customer information.
So the bank is doing everything possible to keep your stuff safe. And yet you have not yet changed the way you take care of your identity and the assets tied to it. The bank even goes further. They tried to get you involved in the effort. What am I rambling about? Alerts. Alerts are the greatest tool for communicating between the two parties. Example: A charge is made to your account overseas. The bank finds this unorthodox. You have signed up for alerts. So you are sent an email or text message, or both, telling you of the transaction. You are made aware immediately and contact the bank letting them know it was not you. The transaction is cancelled followed up by authorities and your money goes on to finance the family camping trip that weekend.
If that same scenario occurred without alerts you may not notice until days or weeks later, assuming you actively check your statements. Bye Bye money. Some banks will reimburse you for your loss, but they can’t reissue an identity guys.
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