According to a recent Microsoft study, last year saw more than 600 million cyberattacks per day. While cybercriminals are becoming more and more advanced, a lot of these attacks can be attributed to individuals relying on outdated or incorrect assumptions about cybersecurity. That said, here are some common myths and misconceptions of cybersecurity attacks.

1. Only big companies get hacked.

Many people believe that hackers only target large corporations, but in reality, individuals are often easier and more profitable targets. Cybercriminals know that personal accounts often lack sufficient protection, making them prime opportunities for fraud. In fact, small-scale attacks carried out against thousands of individuals can yield higher returns than a single large breach. For bank customers, this means personal accounts and online banking logins are frequent targets for phishing scams, credential theft, and fraud.

2. Macs don’t get viruses.

It is a common misconception that Macs and other Apple devices are immune to viruses and malware. In reality, all devices, whether Mac, Windows, Android, or iOS, are vulnerable to attacks. Cybercriminals now design malware to work across platforms, and many campaigns specifically target mobile banking apps. Recent examples show how malicious software has been developed to infiltrate both desktop and mobile operating systems, proving that no device is completely safe. Believing otherwise could leave your accounts at greater risk.

3. A strong password alone will keep me safe.

While having a strong and complex password is important, it is not enough to protect you on its own. Passwords can be stolen, guessed, or leaked in data breaches, which makes relying on them alone risky. The strongest defense for bank accounts and other sensitive information is multi-factor authentication, which requires a second layer of verification beyond a password. Using a password manager to generate and store unique PINs or keywords, combined with regularly updating your login credentials, can also significantly strengthen your security.

4. I’m too small to be a target.

Many people think that hackers don’t waste time targeting individuals or small accounts, but cybercriminals rely on this exact mindset to carry out scams. Individuals are targeted every day with phishing attacks, ransomware, and credential theft attempts. Statistics show that many successful attacks occur against individuals who assumed they were not important enough to be noticed. In fact, a recent report by Norton showed that only 44% of those surveyed thought of themselves as “worthwhile targets” for hackers, while 40% admitted they could not definitively tell a phishing email apart from a legitimate one. The truth is: if you use online banking or make purchases online, you’re a potential target for fraud.

5. Public Wi-Fi with a password is safe.

Another dangerous belief is that any Wi-Fi network with a password is automatically safe to use. Hackers can exploit weaknesses in public Wi-Fi through “man-in-the-middle” attacks, intercepting the information you send or receive. Logging into your bank account or completing other sensitive transactions on public Wi-Fi puts your data at risk, even if the network appears secure. To stay safe, it is better to use a virtual private network (VPN) or avoid conducting financial transactions on shared networks altogether.

Actionable cybersecurity checklist.

Fortunately, there are several simple but effective steps you can take to reduce your risk.

• Always verify the legitimacy of senders before clicking on links or opening attachments.
• Use multi-factor authentication to add an extra layer of protection.
• Keep your devices and apps updated to patch security vulnerabilities. 
• If you can’t positively identify a sender or you have concerns, go to the individual or institution directly to verify if the email, call, or text.
• Ensure your home Wi-Fi is encrypted and consider using a VPN on a public network. 
• Monitor your accounts regularly and set up alerts to catch unusual activity early. 
• If you notice suspicious activity, report it immediately to your bank and the Federal Trade Commission (FTC) at ReportFraud.ftc.gov.

By recognizing and rejecting common myths, you can significantly reduce your risk of falling victim to cyberattacks. During Cybersecurity Awareness Month and all year long, we’re dedicated to providing the resources you need to stay safe online.

For more ways to stay protected online, visit our Fraud Prevention page at efirstbankblog.com.

“This page may contain links to external websites. These links are displayed for your convenience. FirstBank does not manage these sites and assumes no responsibility for the content, links, privacy policy, or security policy.”

Published: October 6, 2025