Cyber Security
How to plan for the future of your online life
Every time you open a new account, send an email, snap a picture, book a flight, make a purchase or post a comment, you’re creating a new digital asset. Now it’s time to learn how to protect them.
What’s a digital asset?
Think of a digital asset as any information stored electronically, either online or on a device. This includes text, images, multimedia and personal property stored in a digital format – as well as any words, characters, codes or contractual rights necessary to access that digital content.
Social
Information stored on social websites like Instagram, Facebook, Twitter, LinkedIn and Pinterest.
Personal
Photos, videos, emails, music, medical records, blogs, usernames and passwords, digital books, gaming assets, avatars, home security systems and loyalty programs.
Financial
Online shopping sites, PayPal, online bill pay, digital tax documents, credit card accounts, virtual currencies and U.S. Savings Bonds.
Business
Domain names, blogs, patient/customer information, eBay seller information, intellectual property, self-image and digital file storage.
Monetary value
Airline miles or hotel points may have a nominal monetary value, while ownership in a domain name may have a more sizeable worth.
Sentimental value
Personal blogs, family histories, photo albums and family videos may carry more sentimental value than any financial inheritance.
A great deal of confusion can occur when an owner is no longer able to manage his or her assets due to either incapacity or death. These are the main obstacles to be aware of.
Usernames and passwords
The fluid nature of usernames and passwords can be an obstacle if not addressed (and continually updated) as part of an overall digital roadmap.
Encryption of digital assets
Encryption scrambles data, protecting it so a person can't make any sense of it without knowing the password. This security measure may complicate things for your heirs if they're unable to locate the password.
Digital assets are constantly changing
The possibility of personal changes and technology advancements are endless.
"Terms of service" agreements
When opening accounts, we click the button next to the words "I Agree" and thus agree to the Terms of Service contract, which governs your associated assets. Your heirs may be bound to the same agreement.
Federal criminal laws
The Computer Fraud and Abuse Act (CFAA) (18 U.S.C. § 1030(a)(2)) makes it a criminal offense to intentionally access a computer without authorization.
Federal privacy laws
The Stored Communications Act (SCA) (18 U.S.C. § 2701 et seq.) creates privacy rights that protect the contents of certain electronic communications and files from disclosure by certain providers of electronic communications services or remote computing services.
State laws
So far, few states have addressed the planning needs of digital assets. Many of the states that have addressed this issue have laws that are unclear.
The online world has become the center of our daily transactions. It's where we work, play and get together. Here are some questions to ask yourself about what happens to your digital life when you're no longer able to navigate it.
Have a guide to all your various assets, choose a digital steward to keep them safe and your family will have a digital roadmap to follow.
When it comes to digital assets, you can make things easier for your family/heirs by simplifying the work of your appointed agent or executor. In addition, planning ahead may help prevent losses to the estate while avoiding unexpected costs. Addressing your digital footprint will help ensure that your personal story remains alive while keeping any sensitive information protected. Consider these five steps:
We strive to provide you with information about products and services you might find interesting and useful. Relationship-based ads and online behavioral advertising help us do that.
Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. This information may be used to deliver advertising on our Sites and offline (for example, by email) that's customized to meet specific interests you may have.
If you prefer that we do not use this information, you may opt out of online behavioral advertising. If you opt out, though, you may still receive generic advertising. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements.
Also, if you opt out of online behavioral advertising, you may still see ads when you sign in to your account, for example through Online Banking or MyMerrill Account Access. These ads are based on your specific account relationships with us.
To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review the Bank of America Online Privacy Notice and our Online Privacy FAQs.
