Ways to Avoid Identity Theft with First Utah Business Banking

The online world has become the only world in these times of social distancing, and has become the lifeline of all business owners. Thank goodness that so much of what was previously done with a paper transactions now takes place in cyberspace. What used to be convenient has now become essential.

It’s important now more than ever to be diligent in protecting personal information. One of the most perilous traps for cybercrime is identity theft, which is when someone uses your personal information obtained through illegal means.

There are some simple ways you can safeguard against this online threat. Simple steps to protect that sensitive data can go a long way to help you feel more secure about using online tools to make your business and personal lives easier. With First Utah Bank, rest assured that data security is a high priority.

Keeping all of your personal data safe

The website called The Simple Dollar shares an extensive look at identity theft, including some simple ways that you can protect your data. Here are just a few of the tips they provided:

Secure your own network. Choose a strong firewall and only use a secure network to access your banking information or complete any business transactions. If you have a method to scan for viruses and malware that is robust, the chances of the cybercriminal reaching you are slimmer.

Get all of those alerts. Institutions such as First Utah Bank have a range of automatic alerts to let you know if there is suspected suspicious activity on your accounts, including ATM withdraws, international transactions and a purchase over a certain dollar amount on your account. These notifications can help identify suspicious activity and safeguard your information as soon as your bank red flags it.

Protect those passwords. This one’s a biggie. It’s suggested that you use different PINs or passwords for each account that you have online. Make sure they are a mix of letters, symbols and numbers so they aren’t easy to guess. Don’t forget to enable the auto-lock feature on your phone as well. Sure, it’s easier not to, but it’s better to be safe than sorry when it comes to protecting your data.

More on how the IRS is helping in the ID theft fight

One new development with identity theft protection involves the Internal Revenue Service (IRS). They have just launched a new sub-site called Identity Theft Central, in which they provide tips on how to keep data secure, especially as it pertains to tax-related identity theft. This is when a cyber criminal takes personal information to commit tax fraud. The most vulnerable piece of personal info is the Social Security number, which can be used to file a fake return or to claim a refund or credit.

Identity Theft Central provides advice on ways to safeguard your Social Security number, including using security software that updates automatically, encryption to protect your most sensitive personal data, a password manager or way to create strong and distinctive passwords, and looking for “https” on a website (which denotes that it uses encryption).

The IRS site also includes an entire section that relates to businesses and identity theft. It goes through the details on reporting data loss or theft, the steps you can take as a business owner to prevent it, how to create a data security plan and the protections the IRS has in place to prevent fraud or ID theft when filing your taxes.

We can help with secure business banking for Utah

First Utah Bank wants all of our customers to be aware of the best ways to safeguard against cybercrime, and as your trusted partner in your finances, it’s just one way that we can be a truly caring, hometown bank for you. We’ve been in the Salt Lake Valley since 1978, and we are adept at meeting your individual needs as a business in Utah.

There are several aspects of our business that relate directly to the business banking community in the Beehive State. First, we focus on relationships. As a community bank, we get to know you beyond providing banking services. Our staff works hard to anticipate your needs, ready to offer the products that are going to work best for your own business plans.

We also provide a variety of secure tools so you can bank on your own time, when it’s most convenient to do business. This includes online apps, treasury management, and mobile or remote depositing.

First Utah Bank also has expertise in solutions for cash flow, from SBA loans to expansion funding to ways that you can find better financial security as a startup. Our goal is to provide a solution for any business question or concern at any time.

Let us help you make running a small business easier with financial advice that’s tailored to your unique needs. Learn more at our website, or call First Utah Bank at 801-308-2265.