Milwaukee, Wis. – Data breaches are scary; they expose customers’ personal information and leave them vulnerable to fraud. With many recent data breach announcements from all types of industries, it’s become clear how common data breaches are these days. BBB has tips for consumers to protect personal information and reduce identity theft risks. This is important whether you’re a customer of the affected companies or not.
What is a data breach?
Companies store a large amount of their customers’ personal information in digital spaces. Thieves want access to that information, and they may target companies with malware or exploit weaknesses in digital security measures. Once they steal the information, these bad actors sell it on the dark web or use it in their own fraud schemes.
What is the risk to consumers?
No two data breaches are the same, and each incident can expose unique information. Consumers affected by a breach may be at increased risk for identity theft. Thieves may use stolen information to fraudulently apply for credit, unemployment benefits and more. In some cases, consumers’ financial accounts may be accessible to thieves.
Companies collect more customer data than ever before. They save payment methods, passwords, addresses and other information. This allows people to save time, ensure bills are paid on time, and budget effectively. However, it also increases the risk of identity theft. Consumers must take extra care to protect their personally identifiable information.
BBB recommends consumers take these steps to protect their data against a breach:
- Don’t overshare online. Avoid posting personal information on social media. It’s not just about your social security number; online quizzes and games may put you at risk! Things like your first pet’s name or the town in which you were born can be used to hack your accounts.
- Check your credit report and financial statements often. Monitor your accounts for suspicious activity and notify account providers as quickly as possible.
- Use strong passwords, and change them regularly. Protect your accounts with complex and unique passwords.
- Implement two-factor authentication on accounts and devices. This adds another layer of security to your logins. Two-factor authentication sends a code to your phone or email to check the account owner is the one logging in.
- Shop with businesses that protect customer information. Check for basic security measures. There should be an HTTPS in the address bar and a clear and detailed privacy policy. Then, look for and check the validity of trust seals like the Accredited Business seal.
Protecting yourself online is critical, but hard copies of private documents can also be stolen. So, it’s important to dispose of your private papers safely. Check with your local BBB to learn more about Secure Your ID Day and Shred Days.
Even the most careful consumers can fall victim to a data breach. Learn eight things to do after a breach and how to tell if your information was stolen.
