Over the past few years, we’ve seen more frequent reports of security breaches and data leaks. As technology gets more advanced and sophisticated, so do hackers. Last week, major news outlets such as the LA Times reported a data breach of National Public Data which purportedly compromised personal information of 2.9 billion individuals (not just US citizens). The facts of this data breach are still under debate, but one thing seems clear: protecting yourself against identity theft and fraud is becoming increasingly important.
There are some steps you can take today to help protect yourself and your family.
Credit Freeze
One step I’ve taken is to freeze my credit with all three major credit reporting agencies: Transunion, Equifax, and Experian. By doing so, I have prevented any potential identity thieves from being able to open new lines of credit using my Social Security Number, rack up debt, and leave me with the bill. The drawback of credit freezes is that each time we want to apply for a new loan or credit card, we must unfreeze it first. However, managing a bit of inconvenience may just be your saving grace.
To freeze your credit, you can create an account or log in to Transunion, Equifax, and Experian’s online portals, or call them directly. Each one has a slightly different process for this, but one thing you want to make sure is you are looking for a credit freeze, not a credit “lock.” Though they act similarly, credit freezes are free and credit locks typically are not.
Two-factor Authentication
Turning on two-factor authentication on your accounts, especially for banking and financial services, makes it much more difficult for fraudsters to gain access. You probably already have it on a few of your log ins. Rather than protecting your accounts with just a password, you have to get a secure code or answer a security question in order to access your account. It’s simple and effective at preventing unauthorized access to your most important accounts.
Password Managers
Finally, consider getting a password manager! Password managers are ultra-secure services that create, store, and automatically fill in passwords for all your online accounts. If you’re like many people, you might have one or two passwords with minor variations that you use for all your accounts. However, this is a ripe opportunity for hackers and fraudsters to gain access. Password managers will create unique, strong passwords, and store them for you so you don’t have to remember them or write them down.
Another benefit of password managers is they will not pre-fill your information into scam sites that are designed to look like the sites you visit every day but are, in reality, just fronts to get your login information. These are more common than you might expect and are often incredibly convincing. Give yourself peace of mind knowing you will be safe from scam sites by adopting a password manager.
All in all, though online security might seem to be a thing of the past, there are ways we can protect ourselves and our assets. A little caution could go a long way.