Account Security Checklist

A practical checklist to secure your financial accounts. Follow these steps to dramatically reduce your risk of account takeover, identity theft, and investment fraud.

1. Passwords

• Use a unique password for every financial account — no reuse.
• Minimum 16 characters (20+ better). Use a passphrase (e.g., "correct-horse-battery-staple-elephant").
• Use a password manager (Bitwarden, 1Password, or Apple Passwords). Never store passwords in your browser's built-in manager for financial accounts.
• Change passwords immediately if you suspect any compromise.
• Never share passwords via email, text, or phone.

2. Two-Factor Authentication (2FA)

• Enable 2FA on every account that supports it. Priority order: brokerage > bank > crypto exchange > email.
• Best: Hardware security key (YubiKey, Google Titan). FIDO2/WebAuthn is phishing-resistant.
• Good: TOTP authenticator app (Authy, Google Authenticator, 2FAS). Never use SMS 2FA for financial accounts — SIM swapping is too common.
• Worst: SMS 2FA or email 2FA. Only use if no other option is available.
• Store backup codes securely (password manager or safe deposit box).

3. Recovery Codes & Backup

• Print or store backup codes when enabling 2FA. Without them, losing your phone = losing account access.
• Keep a recovery sheet in a fireproof safe or safety deposit box listing all financial accounts and how to access them (account numbers, customer service numbers, recovery procedures).
• Designate a trusted emergency contact who knows how to access your accounts if you are incapacitated.

4. Account Monitoring

• Enable push notifications for all transactions above $0 (or your minimum threshold).
• Review account activity weekly — set a recurring calendar reminder.
• Check your credit report at AnnualCreditReport.com every 4 months (rotating among Equifax, Experian, TransUnion).
• Use a credit monitoring service or freeze your credit (freeze is better — free at all three bureaus).

5. Email Security

• Your email is the master key to your financial accounts. Secure it first.
• Use a unique, strong password for your email account.
• Enable 2FA on your email with a hardware key if possible.
• Never use your primary email for newsletters, shopping, or social media. Create a separate "financial email" used only for financial accounts.

6. Brokerage-Specific

• Enable "transfer lockdown" or "ACAT transfer restriction" — prevents unauthorized account transfers (Fidelity, Schwab, Vanguard all offer this under different names).
• Disable margin trading if you don't use it.
• Set up trusted contact person (FINRA rule — all brokerages must offer this).
• Review beneficiary designations annually.
• Never grant account access to a third party (financial coach, friend, family) unless they are a registered investment advisor with a legitimate need.

7. Crypto Exchange Security

• Use a hardware wallet (Ledger, Trezor) for long-term holdings. Never leave large amounts on exchanges.
• Enable whitelisting of withdrawal addresses — only pre-approved addresses can receive funds.
• Set withdrawal limits to the minimum practical level.
• Enable email confirmations for all withdrawals.
• Use a dedicated device or browser profile for crypto transactions.

8. General Security Hygiene

• Keep devices and browsers updated. Enable automatic updates.
• Use a VPN when accessing financial accounts on public Wi-Fi.
• Never install remote access software (TeamViewer, AnyDesk) unless absolutely necessary and immediately uninstall it.
• Be skeptical of unsolicited calls — hang up and call the official number.
• Monitor for data breaches at haveibeenpwned.com. If your email appears in a breach, change passwords immediately.
• Use a separate device or at least a separate browser profile for financial accounts (no random extensions installed).

Key Numbers to Know

• SIPC: 1-202-371-8300 (brokerage failure protection up to $500k)
• FTC: 877-382-4357 (identity theft reporting)
• FBI IC3: ic3.gov (cybercrime reporting)
• SEC: 800-732-0330 (securities fraud complaints)
• CFPB: 855-411-2372 (consumer financial complaints)
• Credit Freeze: Equifax 800-685-1111, Experian 888-397-3742, TransUnion 888-909-8872