There are other ways for your bank to know you are who you say you are
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You already gave your bank your address, date of birth, Social Security number and your mother’s maiden name. Now, they want your voice.
Banks say it’s an extra layer of biometric protection against fraud and cybercrime. But with the rise of hackers stealing voice data for deepfakes, is it worth the risk?
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IT NEVER ENDS! WHAT TO DO AFTER A DATA BREACH
The identity arms race
No matter how much money you have in the bank, a hacker or scammer wants it — and they’re always one step ahead.
If you're skeptical of your bank having your voice data on record, you're not crazy — you’re smart. A voice can be cloned using AI with as little as 10 seconds of audio and a few bucks.
Asking your bank to opt you out of voice authentication is an easy way to secure yourself against potential AI cloning scams. (Photo by Sean Gallup/Getty Images)
Call your bank’s customer service line and ask to opt out of voice authentication. It takes two minutes. If you can do it now, great. If you can’t, I highly recommend you set a reminder to do it later. This is important.
Pro tip: Scammers have been known to plant fake numbers in search results. Don’t just Google search the name of your bank and call that number. Go directly to your bank’s website or call the number on the back of your debit or credit card.
Go a step further
Because you’re smart, you use strong unique passwords, you enable 2FA, you don’t bank on public Wi-Fi, and you always monitor your accounts. (More on all that below if you need help.)
Other, more secure banking authentication features that don't require your voice are available and easily accessible. (Photo by Robert Alexander/Getty Images)
But it might be worth a phone call or trip to your local bank branch to ask if they offer extra security features. Popular options include:
Secure keys: This physical or digital device generates one-time passcodes that are usually only good for 30 seconds for safer online banking.
Banking alerts: Set up text or email notifications for real-time account activities, such as large transactions or account changes. It’s a bit of a pain when you have to approve all your charges, but it has saved me from scams and phony charges.
Account lockout features: Many banks offer options to automatically lock your account after a certain number of failed online login attempts.
Advanced access: This is enhanced security for certain activities using additional verification steps. For example, Morgan Stanley asks me for a one-time passcode if I log in at a new location.
OWN A HOME? SHOPPING OR SELLING? YOU’RE A SCAM TARGET
Get your banking security up to par
Maybe you need to get the basics in order first. That’s OK, and it’s definitely not too late to take a couple smart steps.
- Turn on two-factor authentication so only you can access your accounts.
With 2FA enabled, a secondary form of verification is required to prove your identity instead of just entering your username and password to log in to an account.
The second form of verification can be something only you know (an answer to a question), something you have (your device), or who you are (a fingerprint, voice pattern or facial scan). You enter the temporary code, and voila — you’re in.
My pick: An authenticator app. Biometrics (your face or fingerprint scan) are a close runner-up. A text code is the most hackable.
- Only log onto your bank from a network you can trust.
Looking at you, random coffee shop Wi-Fi. Public Wi-Fi networks do little to nothing to protect your privacy. Cybercriminals know this and use free Wi-Fi networks to find victims. Malware, phony hotspots, unsecured networks and nefarious passers-by might all be able to cut in, compromising your data and account.
If you connect to public Wi-Fi without taking precautions, thieves can steal login credentials to any account you sign into while on the network, including your bank accounts.
If you connect to public Wi-Fi, don't do it without a VPN. (Photo by Saqib Majeed/SOPA Images/LightRocket via Getty Images)
If you must connect to free public Wi-Fi, don’t do it without a virtual private network (VPN). A VPN allows you to browse the internet while encrypting your sensitive information. This helps hide your online credentials and IP address.
I use ExpressVPN, a sponsor of my national radio show.
Now, help me get the word out. Share this story with friends and family to keep them safe before the tsunami of voice-cloning scams hits. They’re coming.
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