Online Identity Theft
Online identity theft is a serious problem affecting millions of Americans each year. Any time you log on to your computer, you may be vulnerable to attack from hackers even if you use a firewall. Learning how to protect yourself when working and shopping online will lessen your chances of becoming a victim of online identity theft.
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Significance
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Online identity theft affects your finances if hackers drain your bank accounts or charge amounts on your credit card. In addition to the financial losses, dealing with identity theft requires much time and effort on your part to prove that you did not authorize the transactions and to start the process to get your money returned.
Features
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Hackers obtain your information in several ways. One of the most popular is phishing. Phishers send out emails that look like those you receive from banks and credit card companies. These fake emails trick people into revealing passwords and other personal information. Consumers who do not bother to install firewalls on their computers are particularly at risk from hackers. Without a firewall, a hacker can access your computer from a remote location and retrieve your stored password and account information. With that information, the hacker can easily use your credit cards and arrange for bank transfers.
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Misconceptions
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Some people believe they cannot be victims of online identity theft if they don't shop or pay bills online. Unfortunately, no matter how careful you are, you can still become a victim. If you provide any information to any company, it will be entered into the company's computer system. These systems can be hacked, compromising your personal information.
Prevention/Solution
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Be cautious and suspicious when you receive any emails regarding your bank or credit card accounts. No matter how official an email looks, do not click on any links provided in the email. Instead, visit the company's website using a link you know is safe or call the company directly and ask if there is a problem with your account.
Download updates to your computer on a regular basis. Updates often contain security updates that will help keep your computer from being exploited. Make your password a combination of letters and numbers and don't use any obvious words or letter strings, such as "12345678" or "password."
Install a firewall on your computer to thwart hackers from accessing your computer. Be sure to only shop from your computer in your home. Don't shop from computers in libraries or other public locations, as spyware could be installed on these computers. Don't shop on a site unless the web address begins with "https." This indicates that the site is secure.
Warning
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Check your credit report, bank and credit card statements on a weekly basis. Immediately call the company and have your account frozen if you spot any unfamiliar charges.
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