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Top 5 mistakes that could expose your financial data to cybercriminals

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Top 5 mistakes that could expose your financial data to cybercriminals

How secure is your financial information? Let’s do a little test: Do you currently have a budgeting app installed on your phone? Statistically speaking, there’s a good chance you do.

Seventy-five percent of smartphone owners have tried at least one. It seems like a smart move to take control of your finances, right? Unfortunately, what many people don’t realize is that apps like these could be exposing your sensitive financial data.

That’s just one example. There are other common habits and oversights that could leave your financial data wide open to cybercriminals. 

Mistakes like these don’t just jeopardize your bank account, they can lead to devastating consequences like identity theft, mounting debt and even shattered retirement plans. I’ll walk you through the five biggest mistakes that could be putting your financial future at risk, and, more importantly, how to avoid them.

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A couple working on their budget   (Kurt “CyberGuy” Knutsson)

The 5 biggest mistakes you should avoid

Navigating the digital world can be tricky, especially when avoiding common pitfalls that compromise your privacy and security. Here are the five biggest mistakes you should avoid:

1. Neglecting security measures

This is one of the biggest pitfalls many of us fall into. There are so many things we have to do these days to keep our online security up to par. It’s easy to grow complacent, essentially leaving the door wide open for cybercriminals to walk through. Here are the basics you should never forget to follow:

Enable two-factor authentication (2FA) everywhere you can, especially online accounts that hold your financial information.

Keep your software updated. Hackers exploit known weaknesses in old versions of apps, operating systems and even browsers. So, be sure to regularly update your software on all your devices.

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Avoid using public, unsecured networks, especially when accessing sensitive accounts like online banking or even e-commerce. If you have no other choice, use a trusted VPN to encrypt your online activity, including financial information. For the best VPN software, see my expert review of the best VPNs for browsing the web privately on your Windows, Mac, Android and iOS devices

woman using phone

A woman scrolling on her phone  (Kurt “CyberGuy” Knutsson)

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2. Reusing passwords

Though technically a security measure, this one’s so bad, it deserves its own spot on the list. A recent survey revealed that more than half of Americans reuse passwords on at least some of their accounts. Make sure you’re not one of them.

When hackers compromise one account, they don’t stop there. They use a technique called credential stuffing, by which stolen login details are tested on other platforms. So, if you’ve reused the same password for your bank account, email and favorite shopping site, one data breach can take them all down in one fell swoop.

If you don’t have a perfect memory, capable of memorizing every password you’ll ever need, I recommend using a trusted password manager. They can generate and store complex, unique passwords for all your accounts so you don’t have to remember them yourself.

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A woman working on her budget  (Kurt “CyberGuy” Knutsson)

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3. Using budgeting apps

Budgeting apps can be a convenient tool for managing your finances, but they also come with potential risks that many users overlook. These apps often share user data with third parties and may request extensive permissions, including access to sensitive personal information. This can raise concerns about privacy and data security, especially if the app lacks robust safeguards. Before using a budgeting app, it’s crucial to carefully review its permissions and data-sharing policies to protect your financial and personal information.

Instead of relying on a budgeting app, consider utilizing your bank’s online tools. Many banks offer built-in budgeting and expense-tracking features within their secure online banking platforms. These are typically more privacy-focused than third-party apps.  Here are some examples:

Bank of America: Offers interactive charts that break down spending trends, highlight budget categories and show total monthly spending with customizable categories.

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Wells Fargo: Features a package called My Money Map, which includes spending reports, personalized budget creation, goal setting and visual analysis of spending compared to budget limits.

Capital One: Provides automated budgeting tools through its 360 Checking account, allowing customers to track and categorize expenses automatically. It also features Eno, a virtual assistant for transaction inquiries.

Chase: Offers built-in budgeting tools that seamlessly integrate with your accounts. This includes features like automatic expense categorization, spending insights and personalized budget tracking. With Chase, you can also set savings goals and monitor your progress directly through their mobile app or online banking platform.

Huntington National Bank: Offers several in-app budgeting tools, including Spend Analysis for expense tracking, Spend Setter for setting category limits and Look Ahead Calendar for visualizing upcoming payments.

Regions Bank: Provides a suite of budgeting tools called My GreenInsights, accessible via mobile app and desktop, allowing customers to track expenses, set spending targets and receive suggestions for reducing expenses.

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These bank-provided tools offer the advantage of being integrated directly with your accounts, potentially providing more accurate and up-to-date information while maintaining a higher level of privacy compared to third-party apps.

If you decide to stick to a budgeting app, though, make sure to check its privacy section on the App Store or Google Play, where you can see what data it collects and shares. Then, read the app’s privacy policy carefully, as tedious and often deliberately overcomplicated as that can be.

man using laptop

A man using his phone and laptop to work on his budget     (Kurt “CyberGuy” Knutsson)

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4. Shopping anywhere online

Online shopping is convenient and tempting, especially during major sales events like Black Friday. But diving headfirst into deals without knowing the retailer could cost you more than you bargained for.

When you shop on unfamiliar websites, you’re sharing sensitive information like your financial data, address and contact details. If the retailer doesn’t have strong privacy or security measures in place, this data could end up in the hands of cybercriminals or be sold to data brokers.

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Even popular retailers aren’t always safe. For instance, platforms like Temu, which attract millions of shoppers, have faced scrutiny for questionable data practices. Popularity doesn’t guarantee good privacy or security standards. To protect yourself, shop only on websites with a solid reputation for security and privacy. Here’s how you can verify a site before making a purchase:

  • Check their privacy policy to understand how they collect, use and share your data.
  • Read consumer reviews to spot red flags, like poor customer service or complaints of data misuse.
  • Whenever possible, use a virtual credit card or payment service like PayPal to add an extra layer of protection for your financial information.

man working on cellphone

A man using his phone for budgeting purposes  (Kurt “CyberGuy” Knutsson)

5. Allowing data brokers to keep and sell your information

Unless you go completely off the grid digitally — no internet, online accounts or smartphones — it’s nearly impossible to avoid leaving a digital footprint. Most companies collect and share your personal information, which ends up in the hands of data brokers and people-search websites that aggregate and sell it to even more third parties.

Data brokerage is a $245.8 billion industry that profits off your personal information at the expense of your privacy and security. Some data brokers have even been caught intentionally selling information to scammers. People-search sites also provide an accessible way for anyone, including fraudsters, to get their hands on your personal information.

To mitigate these risks, it’s crucial to periodically remove your information from these databases. While it’s not a perfect solution, consistent removal can significantly reduce your exposure and safeguard both your financial data and personal safety. Check out my top picks for data removal services here. 

Kurt’s key takeaways

From my experience, it’s easy to overlook these risks in our fast-paced, convenience-driven world. But taking just a few minutes to review your security practices can save you from a world of trouble. Don’t wait until it’s too late to protect yourself and your loved ones. Neglecting basic security like two-factor authentication, reusing passwords or shopping on untrustworthy websites can leave you exposed. Using finance apps that share your data, like allowing data brokers to profit off your personal information, also increases your risks of experiencing fraud and identity theft. By staying vigilant, you can protect both your finances and your loved ones.

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Have you made any of the mistakes on this list, or do you have others you’d add? Let us know by writing us at Cyberguy.com/Contact

For more of my tech tips and security alerts, subscribe to my free CyberGuy Report Newsletter by heading to Cyberguy.com/Newsletter

Ask Kurt a question or let us know what stories you’d like us to cover

Follow Kurt on his social channels

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Copyright 2024 CyberGuy.com.  All rights reserved.

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NBC’s Grimm series is being reborn as a Peacock movie

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NBC’s Grimm series is being reborn as a Peacock movie

Between Nosferatu and Wolf Man, it feels like Hollywood has come back around on good, old fashioned monster movies. And it seems like Peacock wants in on the action with a feature-length reboot of the long-dead Grimm series.

Variety reports that Peacock is moving forward with a new film based on Grimm, Stephen Carpenter, Jim Kouf, and David Greenwalt’s 2011 series about a Portland cop who discovers that he’s one of the chosen few meant to defend humanity from monsters. Josh Berman (Drop Dead Diva) is attached to write the movie as well as co-executive produce with Kouf and Greenwalt.

In its original run, Grimm ran for six seasons that saw Detective Nick Burkhardt (David Giuntoli) become a formidable Grimm (the show’s lingo for monster hunters) alongside his human partner Hank Griffin (Russell Hornsby) and werewolf ally Munroe (Silas Weir Mitchell). Peacock has yet to announce details about the movie’s plot or whether any members of Grimm’s original cast members might return. But given that this isn’t the first time NBC has flirted with the idea of resurrecting the IP, it feels pretty safe to say this time around, Grimm’s definitely coming back to the small screen.

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It is easier than ever to disable Location Sharing on your Android phone

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It is easier than ever to disable Location Sharing on your Android phone

Privacy is a growing concern, especially regarding location tracking. Google has taken steps to enhance your control over location sharing on your Android, making it simpler for you to manage who can see your whereabouts. Let’s dive into this new feature that Google is rolling out and how you can utilize it effectively. (iPhone users, follow these tips)

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Location Sharing on Android in settings (Kurt “CyberGuy” Knutsson)

The new Location Sharing toggle

Google has introduced a new “Google Location Sharing” toggle that is now integrated directly into the Android settings. This update eliminates the need to navigate through Google Maps to manage your Location Sharing preferences. The new feature is part of the latest updates to Google Play Services and is designed to simplify and enhance your control over location sharing.

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What Location Sharing means

Before you toggle this off, let’s take a moment to understand why you might want it on and what happens when you turn it off.

Imagine this: You’re meeting a friend in a busy city, and instead of sending a dozen texts back and forth, they can simply see your real-time location on Google Maps. That’s the power of location sharing. It allows you to share your exact position with specific contacts, along with useful details like your device’s battery level or your estimated arrival time if you’re navigating.

But when location sharing is off, your movements stay private. No one can track where you are, and your personal information is better protected from potential misuse. Apps and services lose access to your location data, which not only boosts your privacy but can also save battery life by cutting down on background tracking.

So, before deciding, think about what fits your needs best: staying connected or staying private.

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Supported devices and software

The feature is primarily available on Android smartphones, including popular models from brands such as the Google Pixel series (e.g., Pixel 6, Pixel 7), Samsung Galaxy series (e.g., Galaxy S21, Galaxy S23) and other manufacturers that run stock or near-stock Android versions. Certain Android tablets that support the latest versions of the operating system may also have access to this feature. The Location Sharing toggle is part of recent updates to the Android OS, specifically through Google Play Services. You should ensure your devices are running at least Android 12 or later to access this functionality effectively.

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How to update the latest software on your device

Ready to upgrade? Here’s how to do it, but first back up your device data (just in case):

Settings may vary depending on your Android phone’s manufacturer.

  • Go to Settings
  • Click System
  • Tap Software updates
  • Then click System Update
  • If available, tap Download and install
  • Wait for the download to complete and your device to restart
It is easier than ever to disable Location Sharing on your Android phone

Steps to update software on Android (Kurt “CyberGuy” Knutsson)

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How to disable Location Sharing on Android

Settings may vary depending on your Android phone’s manufacturer. 

  • Open the Settings app on your phone
  • Scroll down and click Location
  • Toggle off where it says Use Location so it turns gray. This will disable location sharing on your Android.
It is easier than ever to disable Location Sharing on your Android phone

Steps to disable Location Sharing on Android (Kurt “CyberGuy” Knutsson)

The benefits of enhanced location control

1) Improved privacy management

This new feature not only simplifies turning off location sharing but also enhances privacy management by providing transparency about who can track you. You can now feel more secure knowing you have control over your shared information, which is particularly beneficial in situations where privacy is paramount.

2) Easier communication with trusted contacts

Location sharing can be very useful for coordinating meetups, ensuring safety during travel or simply letting loved ones know you’ve arrived safely. Now, we have shown you how to disable location sharing, but here’s how you can share your real-time location with trusted contacts using Google Maps when Use Location is toggled on.

  • Launch the Google Maps app on your Android device
  • Tap your profile picture or initial in the top right corner
  • Then select Location sharing
It is easier than ever to disable Location Sharing on your Android phone

Steps to share your real-time location using Google Maps on Android (Kurt “CyberGuy” Knutsson)

  • Tap on Share location, or it might say New share
  • Decide how long you want to share your location (options range from 15 minutes to “Until you turn this off”)
  • Choose the contacts you want to share your location with from the list. If they don’t appear, tap More to find them.
  • If sharing with someone who doesn’t have a Google account, tap Copy to clipboard and paste the link into a text message or email.
  • Tap Share to send your location
It is easier than ever to disable Location Sharing on your Android phone

Steps to share your real-time location using Google Maps on Android (Kurt “CyberGuy” Knutsson)

Remember that people you share your location with can always see:

  • Your name and photo
  • Your device’s recent location, even when you’re not using a Google service
  • Your device’s battery power and if it’s charging
  • Your arrival and departure time, if they add a Location Sharing notification

They may also see other info depending on how you’re sharing. Learn more about Location Sharing.

It is easier than ever to disable Location Sharing on your Android phone

Illustration of what people you share your location with can always see (Kurt “CyberGuy” Knutsson)

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Kurt’s key takeaways

Google’s new “Google Location Sharing” toggle, now integrated into Android settings, simplifies and enhances your control over location sharing. With this feature, Google is striking a balance between convenience and robust privacy management, making it a welcome improvement for Android users.

Have you ever had a situation where turning your location sharing on or off was crucial? Let us know by writing us at Cyberguy.com/Contact.

For more of my tech tips and security alerts, subscribe to my free CyberGuy Report Newsletter by heading to Cyberguy.com/Newsletter.

Ask Kurt a question or let us know what stories you’d like us to cover.

Follow Kurt on his social channels:

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Copyright 2024 CyberGuy.com. All rights reserved.

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Birdfy Bath Pro is a voyeuristic take on smart bird feeders

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Birdfy Bath Pro is a voyeuristic take on smart bird feeders

Birdfy has announced the Birdfy Bath Pro, a camera-equipped smart bird bath that lets you watch your local birds as they plop into the water to wash up. The device features two lenses — a wide-angle one and an auto-tracking one — and an optional AI analysis feature that keeps track of and summarizes the bath’s visitors. It’s in preorder now.

The onboard camera consists of a 2MP wide-angle lens that shoots at 1080p and a 3MP “Portrait Lens” with 2K resolution. It carries an IP66 waterproof rating, so it should be able to withstand bird splashes, rain, and a direct blast from a water hose. But if you live somewhere cold, you should know the camera may be slow or not start at all if the outdoor temperature drops below 14 degrees Fahrenheit (or minus 10 degrees Celsius).

The Bath Pro notifies you when birds arrive.
Image: Birdfy

The fountain portion comes with five interchangeable nozzles that Birdfy says make “captivating water patterns.” The Bath Pro will run you $249.99, or $299.99 with the stand included. For another $50, you can also get a lifetime subscription to its AI analysis service that Birdfy says will recognize birds and offer daily visitor counts and bird picture highlights. It also offers monthly recaps that rank your bath with that of other Birdfy owners.

Rounding out its features are an integrated solar panel to keep its 9,000mAh battery topped up, cloud storage for videos and images, and Wi-Fi connectivity so you can watch birds from your phone, “catching every flutter and dip in real-time.”

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