Protect Yourself from Online Fraud: Tips for Digital Data Protection
In today’s digital landscape, safeguarding personal information can be difficult–yet it’s crucial now more than ever. Individuals face a variety of risks to their online security that can have significant consequences, including financial loss, legal repercussions, and reputational damage.
Gain insights into common digital scams and empower yourself to protect your personal data with these tips to stay safe online.
Phishing Scams
Phishing attacks involve deceptive texts, calls, or emails from numbers that seem legitimate , such as phone carriers, toll road accounts, or gas and electric service providers. These communications appear credible, leading recipients to disclose sensitive personal information, like passwords, financial details, or personal identification.
If a phishing scam is successful and your sensitive information is compromised, you need to take preventive measures, such as changing passwords, requesting new credit cards, and placing fraud alerts on credit reports.
Stay Alert
It’s prudent to approach unexpected urgent notices with skepticism. Verify emails, texts, voice messages, and links before responding. Don’t click on anything that looks suspicious as it may compromise your security. Legitimate organizations don’t initiate unsolicited calls or texts and provide written notices for any outstanding balances.
To verify a sender’s legitimacy, log directly into your account through official channels—not through hyperlinks provided in the communication.
Phone Number Theft aka SIM-Swapping
SIM swapping is where scammers illegally obtain a phone number by transferring it to a new SIM card. Victims receive convincing calls from hackers posing as phone service provider representatives, claiming fraudulent activity and unauthorized phone orders on their account. Victims typically provide account access, personal information, and two-factor authentication (2FA) codes.
In SIM-swapping cases, scammers gain access to sensitive accounts, including email and various payment platforms. The hacker can then change passwords, access emails, and potentially commit other cybercrimes.
While prompt action can help secure these online accounts and financial information, it often requires considerable time and effort, and victims have to update their phone numbers across multiple services.
Stay Vigilant
Be wary of unsolicited calls or messages from your phone carrier asking for personal information or 2FA codes. Avoid answering calls from unknown numbers and sharing sensitive information in response to unknown requests. Consider implementing enhanced security measures with your phone carrier, such as setting a unique PIN, that shouldn’t be shared with anyone else.
Contact your carrier immediately if you suspect your SIM card has been swapped.
SMS Two-Factor Authentication Codes
Many people rely on their phone’s two-factor authentication (2FA) codes for digital security. Losing access to their phone numbers results in being locked out of critical accounts, including banking and brokerage accounts. These situations can lead to significant financial loss, particularly if they occur at inconvenient times.
Prompt intervention is essential to mitigate these risks and secure access to important accounts.
Stay Secure
Consider using non-SMS and non-email methods for 2FA on financial platforms, such as an authenticator application or virtual token. Update your security settings for critical accounts and potentially explore switching banks if your current institution doesn’t support these enhanced security measures.
Stay vigilant and protect yourself and your family from fraud.
We’re Here to Help
To learn more about securing your personal information and how to avoid cyber fraud, contact your Moss Adams professional.