October is Cybersecurity Awareness Month! Don’t worry; you are not out of the loop. Cybersecurity Awareness Month only started in 2023. The designation is mostly a reminder to companies that securing their networks enhances their value proposition and is now a required business necessity.
At the individual level, one must worry about ID theft. Data compromises have grown exponentially and are not likely to wane, given our reliance on technological advancement. ID theft happens when someone uses your personal or financial information without your permission. It can damage your credit status and cost you time and money. ID theft often falls into the realm of “it won’t happen to me.” The reality is it has likely already happened to you… you just don’t know it. Statistics show data breaches are not losing steam. In fact, 2023 has had more data breaches than any full calendar year in history!
Similar to ID theft is ID fraud. With ID fraud, victims remember interacting with the criminal. A recent growing fraud deals with the fraudster impersonating one’s grandchild asking for money to resolve an issue. Be on guard for voices dissimilar to your grandkids and/or atypical personal nicknames or phrases. The first step in protecting your ID is to be aware of the problem and admit you are not immune to it. To protect yourself, you need a level of skepticism and awareness.
• Do not answer calls, texts, social media messages, or emails from numbers or people you do not know.
• Do not share personal information, i.e.,bank account number, Social Security number, or date of birth.
• Collect your mail every day and place a hold on your mail when you are away from your home.
• Review credit card and bank account statements. Watch for unauthorized or suspicious transactions.
• Store personal information in a safe place including your Social Security card.
To guard against ID theft further, you can enroll in an ID theft protection service. Generally, these services offer personal data monitoring services, locking down one’s credit report, and can assist with identification recovery. Such firms include Aura, Lifelock, Identity Guard, IdentityForce, and IdentityIQ to name a few. Cost tends to be a couple hundred dollars annually. For full transparency, we have no affiliation, compensation arrangements, or referral agreements of any kind with any ID protection service.
ID theft has grown into its own industry and has become a risk in modern life. Identity theft prevention offers essential safeguards that protect an individual’s financial assets, reputation, emotional well–being, and personal data in an increasingly interconnected world. The proactive steps taken to prevent identity theft are far less burdensome than the consequences of being a victim.
CRN–7166055–100824
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