Cybersecurity: Too close to home to be ignored

Cybercrime is focused on individuals more than ever. An increasing number of companies are seeing their online data taken hostage in exchange for ransom demands. Don't be mistaken, however, as the cybercriminals are also targeting your and your loved ones' wallets. And that means robust cybersecurity is crucial in times where everyone does their banking and investments online. What do you need to know, and how do we keep your personal Keytrade Bank environment secure?

What is cybersecurity?

In short, cybersecurity is the digital security wall you set up to protect your data, finances and other important or sensitive information. This not only protects your data from hackers and cyberattacks, but also against unwitting data leaks and more.

You may well have seen the terms below regularly:

• Phishing
• Malware
• Ransomware
• Spyware
• Computer viruses
• And many more...

Each type of cyberattack has its own set of tactics and end goal. As an example, a phisher will use an email, text message or even a phone call to try to learn your bank details or important passwords.

And worse still, thanks to AI, it's now possible to mimic a family member's voice and ask them anything on the phone. "Hello? I've broken down, my vehicle's been recovered, but I don't have my wallet. Could you transfer me some money quickly?" What would you do in such a situation?

Malware, on the other hand, refers to specific software designed to infect – and even take over – computers and other digital systems, with a raft of consequences. This may take the form of ransomware, where cybercriminals encrypt important data and only grant access again once the victim has paid a ransom.

Traditional computer viruses, which can corrupt or even delete your files, are still used too, as is spyware, which comes in many forms from hacking a webcam or microphone to logging everything you type.

All things you want to keep far away from your finances and daily life. By focusing on cybersecurity, you can keep your data secure and prevent uninvited guests from turning up on your digital devices. And at Keytrade Bank, it goes without saying that we want to do the same.

Where and when is cybersecurity essential?

In summary, cybersecurity is essential in every digital arena where your privacy and data must be guaranteed.

This includes everything from your online banking environment to your trusted mailboxes both at home and at work, any product you order and purchase through an online shop, your social media accounts, and much more.

How does cybersecurity work?

A strong, all-round approach to cybersecurity can be compared to thorough security around your home. There are several ways to keep unwanted visitors out, but the only way to create the best barrier is by combining all of them. In official cybersecurity terms, this is called layered security or layered defence; you protect your data using a multi-layered, highly effective virtual shield.

We have listed a few examples of such security applications below:

Firewalls are literally the walls of your home. They filter incoming and outgoing traffic and block any suspicious activity.

Passwords are the locks on your doors.The stronger the password, the stronger the lock.

Two-factor authentication provides an additional layer of security for your home. Your key is the first step and your alarm system, which only you know the code for, is step two.

Antivirus software actively scans for viruses and malware on your systems. This is your security camera linked to your alarm system.

Encryption makes data you send online unreadable to third parties. This represents your shutters that go down at night and no-one can see through.

There are many strong, robust software applications, security protocols and cybersecurity laws around the world. Yet at the same time, the most important type of protection starts with you. Remaining vigilant, with a healthy dose of suspicion, is the first strong barrier against cybercriminals. How can you learn to uncover the single, fraudulent phisher? After all, not everyone who phones you at home is who they say they are.

How can you get started with cybersecurity and how can you learn?

You can get started with cybersecurity simply by educating yourself on the most important threats and how to prevent them. Here are a few tips to strengthen your cybersecurity:

Self-knowledge is the fount of all wisdom. The official government platform Safeonweb.be is home to a range of tests you can take to better assess your current security level.

Learn how to recognise phishing: a strange email address, an email full of language errors, or a payment request you've never heard of before. We've listed a number of warning signs regarding cybercriminals that should set alarm bells ringing here.

Opt for strong passwords and, in a perfect world, store them behind the secure doors of a good password manager.

Protect your smartphone, laptop, PC, tablets and other devices as well as possible. Install a good firewall, never put off security updates for too long, and use up-to-date antivirus software.

Back up your (most important) data regularly. Think here of professional documents that you may have on your private devices.

Prefer accounts with two-factor authentication where – in addition to a password – you also have to prove you're you using other means (such as itsme or Keytrade Bank's softkeys and hardkeys).

Check your bank transactions regularly. If you still fall victim to fraud, some tips on what to do next can be found here.

Stay up to date with the most common types of cybercrime and how can you guard against them. It's a good idea to keep an eye on the latest information issued by the official authorities.

Today's hacker is no longer on the other side of the world

Today, hackers are closer to us than ever, all over the world. Their methods are becoming more personal, more precise and therefore often more credible.

That's why, at Keytrade Bank, we're doing everything in our power to protect your privacy and financial resources – from two-factor authentication and fraud detection to highly encrypted networks and financial transactions. Because safe banking is our number-one priority as an online bank.

Together with your eye for detail and added vigilance, we'll make sure that you can continue to manage your assets with peace of mind at Keytrade Bank.

Want to know more about cybersecurity?

We regularly post new updates about cybersecurity on our Keytrade blog, so be sure to check out our blog posts.

Read more about cybersecurity