As per a report on identity fraud released by Javelin Strategy & Research, more than 11.6 million Americans were victims of identity fraud in 2022. This represents a 13 percent increase in identity theft compared to the previous year, with projections indicating that this trend will continue to rise in 2023. However, there are measures you can implement to safeguard your online identity. Nonprofit organization Money Management International provides the following suggestions:
1. Exercise caution when using unsecured or public Wi-Fi networks. Refrain from conducting any activities involving sensitive data, such as shopping or online banking, on public networks. Wait until you are on a secure network to carry out these tasks.
2. Utilize strong passwords when setting up online accounts. Change your passwords regularly and opt for long combinations to prevent unauthorized access to your accounts. This web comic effectively elaborates on the significance of creating lengthy passwords as a defense mechanism against password-cracking algorithms. When registering on a new website, avoid using the same password as one linked to sensitive information, such as a bank account or personal email address.
3. Your smartphone poses a risk for potential data theft. If you have stored passwords for banking apps or social media platforms on your smartphone, it is advisable to set up a passcode in case the device is lost or stolen. Remember to regularly install software updates as they usually include enhanced security features and safeguards.
4. Ensure that online credit card transactions occur on secure websites. Secure websites are identified by the https prefix in their URL, as opposed to the standard http. Additionally, keeping firewall, antivirus, and antispyware software updated can enhance protection for your online identity. Opt for using a credit card instead of a debit card for online purchases to safeguard your bank account.
5. Review your online bill statements. Opting for paperless statements can reduce the risk of identity theft resulting from stolen mail. Minimize your exposure to identity theft by opting out of credit card offers and safeguarding the contents of your wallet.
6. Do not overlook your presence on social media platforms. Exercise discretion in granting access to your accounts and be mindful of the personal information you disclose. For instance, details like your full birthdate, mother’s maiden name, and phone number are commonly used for identity verification. Take a moment to adjust your profile settings or privacy settings to fortify your defenses.
