Across the globe, we have seen a number of data hacks this year.
There was the data breach where potentially millions of social security numbers were compromised, and another when AT&T customers had their call and text records exposed.
Whether you like it or not, our information is out there, and if we're not doing enough to secure it, it could end up compromised.
“It's out there -- the criminals have it. They're buying and selling it on the dark web. If you haven't become a victim yet, it's only because they haven't gotten around to you," Herb Weisbaum, with Consumers' Checkbook, said.
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Weisbaum offers advice on how we can protect our information right now:
- Set up two-factor authentication. Two-factor authentication (2FA) is a security method that prompts you to verify two forms of ID to access an account. 2FA adds an extra layer of security.
- Set up alerts on your financial accounts. Alerts can help you monitor your money. You can be alerted if there is a low balance, a large deposit, a withdrawal from your account, suspicious activity, and more.
- Use strong passwords and change them often. You can use a password manager to make sure the passwords are strong. It's an encrypted program that stores and manages passwords for online accounts and applications.
- Freeze your credit. Doing so will help you prevent identity theft and fraud. Contact the three major credit bureaus to do so: Equifax, Experian and TransUnion. A credit freeze locks out criminals from opening a new account in your name.
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Weisbaum says, “It stops [criminals] from applying for a credit card, opening a bank account, applying for an apartment, trying to get a car loan in your name, [etc.] because a credit check has to be run.”
By the way, a credit freeze does not affect your credit score. Weisbuam says it does not get in the way of any relationships, accounts or creditors you had prior to that freeze.
The longer you wait to take action, the longer your information is vulnerable to being compromised.
