UnaCash, a digital financial service provider, highlights the importance of data protection and shares simple steps consumers can take to secure their information.
Cyber threats such as phishing, smishing, and identity theft continue to affect online users. A 2024 Statista survey found that 50% of respondents encountered phishing attacks, while 42% experienced smishing, a form of fraud using text messages.
“We have witnessed the digital landscape rapidly evolve in recent years. Financial solutions like us advocate consistently on educating consumers on how to practice good financial hygiene, and of course, navigate the digital space safely,” said Sean Plantado, channel manager of UnaCash.
Steps to protect personal data
UnaCash encourages consumers to adopt these security practices:
- Use strong and unique passwords. Different passwords for each account help prevent unauthorized access.
- Enable two-factor authentication (2FA). Adding an extra verification step, such as a one-time password (OTP), strengthens security.
- Be cautious of phishing scams. Verify sources before clicking links in emails or messages, and report suspicious activity to service providers.
- Update software regularly. Security updates help protect against new threats.
- Monitor transactions. Checking account activity can help detect and report unauthorized transactions.
As more Gen Z consumers engage in digital financial services, UnaCash emphasizes the need for strong security measures. The company integrates encryption, multi-layer authentication, and fraud detection to protect user data. It also complies with the Data Privacy Act of 2012, ensuring strict data protection protocols.
“A financially literate consumer is most likely to use secure platforms, easily identify risks, and take proactive steps to protect their respective data,” Plantado said.