Tips to protect your ID & money from data breaches
Cyber criminals strike another financial institution, and this time it’s one of the largest U.S. banks. JP Morgan says hackers gathered information of millions of their account holders and they believe the breach happened back in August.
The breach affected more than 76 million customers and that's including those who use Chase Bank online banking services.
Experts at the Financial Advisory Group in York say data breaches on banks and retailers show no signs of slowing down and consumers need to take simple steps to protect themselves, especially online.
"Now that there's global tensions, we've seen more of these originate from places like Russia," says market strategist Damien Lynch at the Financial Advisory Group. "So banks will try their best, but I think it'll be a hard place to try to protect identities completely."
Some tips: use your credit card instead of your debit card, because it has faster security checks and change your passwords every 30 days.
If you're hacked, you should ask your bank for a year of free credit monitoring.
Lynch also says you should check a free online credit report once a year to make sure no one has opened credit cards in your name. He recommends Annual Credit Report.