Okay, this sounds really obvious, but apparently ASIC found it needed a mention in their list of Top 10 Finance Tips for Young Adults so who am I to question…
#4 Minimise the Risk of Unauthorised Transactions – keep your PIN secret
Many complaints about unauthorised transactions are made each year. The best way to protect yourself from someone accessing the money in your account is to keep your PIN and/or password secret! Don’t tell anyone your PIN or password – this includes your friends and family. Also, don’t keep a copy of your PIN or password near your card, or on your computer (unless it’s password protected).
Many institutions will let you choose your own PIN or password, and this can help you remember it. But, be careful with what you choose – don’t make it so easy to remember that it will also be easy for a thief to guess.
© Australian Securities & Investments Commission. Reproduced with permission.
Article by Christie Lewis
Christie is Practice Manager at Alan Lewis Accountants . Besides accounting, her passion is for all things small business (and blogging, of course). You can contact Christie directly at christie@lewistaxation.com.au.
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