How does it happen?
Electronic Breach:
In this scenario, a thief accesses your computer or third-party systems to acquire your personal information.
Common Tactics:
- A thief sends you an email that looks like it is from a company you do business with. You click on a link or an attachment and your computer is now compromised with malware or tracking software.
- A window pops up on your computer saying that your computer is compromised, or has a virus or a technical issue. Victims are prompted to call a phone number where the thief attempts to get payment to remove the virus and then often gains deeper access to the victim’s computer, as well as their credit card information. Note: If you see any such window pop-up, your computer is likely already compromised in some capacity. You should immediately shut down your computer and seek professional assistance in cleaning your computer. This should never be ignored.
- Someone calls you from Verizon or other internet provider stating that there is trouble with your service and they need to access your computer files to fix it. They attempt to establish a direct remote connection with your computer, whereby they can install malware, or copy your files to their database.
- Large scale data breach at a company you do business with.
Manual Theft:
- Dumpster diving or going through your trash for sensitive information.
- Looking over your shoulder as you enter data.
- Access public records
- Improperly discarded electronic media (cell phones, computer hard drives, USB sticks, hotel keys, boarding passes etc.
- Malware in a USB stick you put onto your computer.
Best Practices to Avoid Identity Theft
- Be cautious with personal data
- Shred all documents and electronic media containing personal information
- Never click on a link in an email that is sent to you, even if from a company you know and do business with. Instead, go directly to the website of the company to access the needed information.
- Never click on a pop-up window or call a number if your computer becomes infected.
- Don’t watch the videos your friend emails to you or click on links from mass forwarded emails.
- Never speak to someone calling you about any issue that you have not initiated the contact for. Instead, go to the firms website to obtain the phone number and inquire if the call is legitimate. Do not call the phone number back that the caller provides you or shows on your caller ID.
- Where possible, utilize third party authentication. This often requires you to input a code that is sent to your device when entering a password into a website.
- Consider a paid credit monitoring service.
- Consider a credit freeze if you do not need to establish credit in the near future. This is a very effective means by which to guard against credit being established in your name. So effective however, that until you remove it, you will not be able to switch cable companies, buy a car, rent an apartment, or do anything else that requires credit. Some of the credit agencies may charge a nominal fee for activating and deactivating a credit freeze. Please carefully research this strategy prior to implementing it.
- Never enter sensitive information or access password protected sites on pubic wifi. Airports, hotels, coffee shops etc. are generally not secure.
- Consider having a separate device that is used only for financial transactions. Not for web browsing, not for email or YouTube, Facebook or twitter etc.
What if you become a victim?
- Be proactive. Don’t simply monitor your credit card and bank accounts. Take action.
- Even if you don’t see an issue. Better to take action than wait for it.
- Use a reputable virus and malware protection service on your computer.
- Take your computer to have it scrubbed. This brings up an important point about backup of data. We recommend that you manually backup your data, especially photographs, or consider a cloud based service to handle this, as in many cases, your computer will have to be wiped clean.
- Change account numbers for all of your financial institutions.
- Update your passwords on all accounts (only after your computer has been scrubbed).
- Notify your bank, credit card and other companies.
- Consider a credit alert or credit freeze.
These are by no means an exhaustive list of risks and risk mitigation strategies. Each layer of security means some aspect of convenience will be lost. However, the more layers of security you have, your chances of being a victim may be reduced.
Vigilance and a proactive mindset can go a long way with prevention. If something does not look or feel right, if something changes or pops up on your screen, be skeptical and be proactive.
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