Don't Leave Your Financial House Unlocked With an Easy Password

You can't pick up a paper or turn on your television without reading or hearing something related to Identity Theft and Financial Security. As an individual working within the Financial Services industry, I can tell you that the security of everyone's information is of the highest priority. My financial tip this week may save you more than a dollar or two...it may save your hard drive (and your myspace page).

We are constantly examining new ways to secure data---and constantly worry that all of it is in vain. Sure, we all go out and acquire the latest and greatest anti-virus/anti-spyware/anti-adware---and update it religiously...for a month, maybe two. Then it's back to tuning out all the stories about identity theft until it's time to upgrade the security program again.

But how many of us are "leaving the front door unlocked" with a less than secure password? (This includes when you write down your semi-complex password and stick it under your keyboard.) Here are some basics of securing your passwords:

1. Passwords should be a minimum of eight characters in length.

2. Strong Passwords should contain at least one of each of the following characters:

a.Upper-case Alpha Character (e.g. A-Z)

b.Lower-case Alpha Character (e.g. a-z)

c.Numeric Character (e.g. 0-9)

3.Passwords should not be complete words found in a dictionary.

4.Passwords should not be based on personal information:

Examples include: names of family, birthdates, social security numbers, address, phone numbers and the like.

5.Passwords should be changed a minimum of every 90 days.

6.Passwords should not be reused or repeated.

Note: # 3 means no part of the password should be a complete word that can be found in a dictionary. Even a complex password like "red$3Plan3t" is not secure enough; a better choice would be r3d$Pl@n3t.

Further Recommendations:

For added password complexity it is recommended to also include a special character in the password (i.e. !@#$%^&*()_+|~-=\`{}[]:";'<>?,./).

For added password complexity make your password a minimum of fourteen characters in length. It generally takes a sophisticated hacker 2 hours or more to break a 14 character complex password.

Additional Suggestions:

1. User accounts should never be shared with anyone.

2. Passwords must never be shared with or revealed to anyone.

3. Passwords should never be written down.

4. Passwords must never be stored in a computer file without encryption.

5. Never use the "Remember Password" feature within various applications.

6. Remember to clear your temporary Internet files and cookie cache on a regular basis.

Now that you have your secure new password, don't forget to look at your secured information. Review all account statements on a monthly basis and check for any inaccuracies and report any fraudulent activity immediately.

Pacific Oaks Federal Credit Union is firmly committed to the financial education and success of all---we provide banking services to individuals that live or work in Ventura County. For more information on how we can help you plan and secure your financial future, please visit us at www.pacificoaksfcu.org

Special thanks to Anthony Restivo, Vice President of Information Technology, Jacob Loudermilk, and the entire Information Technology department at Pacific Oaks for their contributions to this article.

Source: PCMag.com