Division of Financial Institutions urges Ohioans to strengthen their online security.
January 27, 2025, Press Release from the Ohio Department of Commerce, Ohio Division of Financial Institutions: COLUMBUS, Ohio — In recognition of Cybersecurity and Data Privacy Week, which runs from Jan. 27-31, the Ohio Department of Commerce Division of Financial Institutions (DFI) urges Ohio residents and businesses to prioritize their online security. The week also leads up to 'Change Your Password Day' on Feb. 1, which emphasizes the importance of utilizing strong and unique passwords as a first line of defense against cybercrime.
“Savvy criminal actors are constantly evolving their techniques to exploit new vulnerabilities in the digital world,” said DFI Superintendent Kevin Allard. “It is critical for individuals and families to take proactive steps to safeguard their personal data, finances, and identities to prevent devastating losses.”
The threat of cybercrime is growing greater by the day. According to the Federal Bureau of Investigation’s Internet Crime Complaint Center’s (IC3) most recent report in 2023, the IC3 received more than 880,418 complaints from Americans, with potential losses exceeding $12.5 billion. This shows a 10% increase in complaints and 22% increase in losses compared to the previous year.
The increasing interconnectedness of the digital world, while offering convenience, also exposes users to a variety of cyber threats. Attackers often target sensitive data, identities, and financial information, threatening individuals and businesses alike.
To help Ohioans strengthen their cybersecurity practices, DFI is sharing tips from the Cybersecurity and Infrastructure Security Agency’s (CISA) “Secure Our World” awareness program, which includes a number of key steps to combat online risks:
Recognize and Report Phishing
Online intrusions often occur when users fall prey to phishing messages. These are fraudulent communications that appear to be from a legitimate source and are designed to trick recipients into revealing sensitive information by clicking on malicious links. Always be cautious of alarming language or offers that seem too good to be true. Be sure to report suspected phishing attempts and delete them immediately.
Turn On Multifactor Authentication (MFA)
Multifactor Authentication is a security method that requires more than one form of identification to access an account. By enabling MFA wherever available, you can utilize an additional layer of security. This may include the use of biometrics, such as a face scan, or text-based verification.
Keep Software Updated
Make sure all devices, apps, and software, including antivirus programs, are set to update regularly. These automatic updates can help ensure newly identified security gaps are addressed without delay.
Strengthen Passwords on ‘Change Your Password Day’
‘Change Your Password Day' on Feb. 1 serves as an important reminder of key steps you should take to make your passwords more secure. When updating passwords, you should take the following tips into account to safeguard your accounts:
- Avoid using personal information in passwords.
- Do not save passwords on devices unless they are encrypted.
- Utilize multifactor authentication whenever possible for added protection.
- Change passwords on a regular and frequent basis.
- Avoid using the same password across the board. Instead, use unique passwords for each financial account. This helps to ensure that if one password is compromised, your other accounts remain inaccessible by potential bad actors.
DFI urges individuals and businesses across Ohio to be proactive in their cybersecurity habits. By taking relatively simple steps, Ohioans can significantly reduce the threat of online fraud and protect their personal and financial wellbeing.
