CNBNews

(Gloucestercitynews.net)(April 29, 2020)--One of the areas that have witnessed the most radical transformation due to digital technologies is the banking and financial services, which has unfortunately also exposed us greatly to the threat of online identity theft and financial frauds. According to https://www.bbc.com, the $3.5 billion worth of cyber-crimes has been reported to the FBI in 2019 alone, most of the scams involving phishing and extortion. The increasing level of sophistication is making it harder for people to distinguish the fake from the real. Some of the more common mistakes that increase your risk of identity theft:

Not Using Robust Passwords for Online Accounts 

With email, social media, and banking being the cornerstones of your digital life, it is quite easy for hackers to access your accounts to steal personal and confidential information if you do not have a strong and unique password. If you find it difficult to remember multiple passwords, consider using a password manager that makes it easy to store and manage a large number of complex passwords with very high security.

Not Keeping Software Updated with the Latest Security Patches 

All computers and devices with which you can connect online have operating systems that need to be kept updated with the latest patches to reinforce their security as and when weaknesses are identified. Unless you do this regularly, hackers can exploit flaws in the OS or program and illegally access your computer or device to steal confidential data. Your router too must be kept updated. Read the latest review for identity guard here to learn more about the biggest security threats to your computer system.

Not Being Careful About Sharing Personal Information 

Often retailers, telemarketers, and people conducting online surveys ask for information like your phone number, name, address, the credit card and banks you use, and more. While these requests may seem innocuous, parting with this information, even in bits and pieces allows unscrupulous people to build your personal profile that they can use to hack into your personal accounts. Ensure you share details only if you are certain it is necessary.

Not Checking Your Bank and Credit Card Statements Regularly

Even though banks and credit card issuers send statements every month, very often recipients do not bother to check out the entries carefully and assume they are correct. To ensure that nobody has hacked into your card or bank account and made transactions unlawfully, you should check out the statements carefully for transactions that you know you have not initiated. If you notice something amiss, it is important to alert your banker or card issuer and freeze the accounts before something goes horribly wrong.

Conclusion 

The main thing about not allowing your personal confidential information to be hacked is to ensure that you do not make it easy for the hacker to access your accounts. Not sharing information publicly, keeping bank and card statements secure, using strong passwords, updating your programs and devices regularly, and changing your passwords from time to time are simple steps that can prevent hackers to easily access your information. 

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