five LESSONS

FROM HEARTBLEED: HOW TO PROTECT YOUR MONEY

Heartbleed, a software defect discovered this week with an aptly terrifying name, has scared us all into taking a second look at the security of our online financial data This includes even the Canada Revenue Agency, which shut down its site Wednesday to protect our precious, and it seems now, vulnerable information But we should be vigilant on a regular basis Here are five ways to prevent financial hemorrhaging and fight online fraud

1

Regular checkups

“Do we know where all of our money is? Have we authorized all of the expenditures that are coming out of our bank accounts or all of the expenditures that are put on our credit cards?” says Evelyn Jacks, president of Knowledge Bureau and author of 51 books on tax and wealth management “You’re the only one who can know how much money there is supposed to be in your bank account ”

2

Prevent infection

The CRA is warning the public about fraudulent emails purportedly from the tax collector; they claim that a refund is awaiting the person and prompts him to click a link and input his social insurance number Be wary of any unsolicited email requesting personal information, however “official” it may appear

3

Stay alert when surfing

When shopping, avoid suspicious websites and stick to big- name retailers or those who use recognized payment systems such as PayPal If you’re browsing the Internet with Chrome, you can install Chromebleed, which checks sites for the Heartbleed bug

4

Strengthen passwords

Use passwords that are complex and random; combine numbers, upper and lower case letters and symbols The longer it is, the harder it will be for hackers to decipher it Also, avoid using the same password for all of your sites and services When it comes to Heartbleed, Security experts say that after vulnerable websites have upgraded their software, Internet users should change their passwords ( Several security firms and independent developers have created online tests to help you figure out if a site/ service that you use is still exposed — or just ask your provider to confirm they have patched before resetting your password ) If operators notify you that your account is vulnerable, change the password again

5

Do damage control

If you spot suspicious activity when monitoring your records, contact your financial institution immediately If you think someone has stolen your credit card information or is using your identity, contact your credit bureau and have fraud alerts placed on your credit reports As well, report the incident to the police and the Canadian Anti- Fraud Centre