In today’s digital world, protecting your personal and financial information is more important than ever. Awareness is key, but taking actionable steps is how you keep your data safe. Here are some helpful tips.
Be aware of what you share
Your personal information is valuable. Limiting what you share online is the first step toward protecting your identity. Avoid posting sensitive details like your Social Security number, home address, or phone number. Even social media posts can provide cybercriminals with clues.
What you can do:
- Limit personal information on public websites.
- Regularly update your social media privacy settings.
- Think before you post—everything you share could be used against you.
Did you know?
In 2023, consumers lost over $10 billion to fraud—a 14% increase from the previous year. Don’t let your information become a target.Source: Federal Trade Commission data
Be selective about who you trust
Not every business deserves your trust when it comes to safeguarding your personal data. Make sure the companies you engage with online are secure.
How to verify a company’s security:
- Look for HTTPS in the website URL. Look for URL errors and issues like misspellings or unusual domain extensions.
- Read privacy policies to understand how your data will be used. Reputable sites will have a privacy policy readily available.
- Research a company's security record and avoid those with a history of data breaches.
Fraud prevention best practices
Adopting safe digital practices will help you minimize risk. Here are some simple yet effective steps to boost your online security.
Use strong passwords
Avoid easy-to-guess passwords. Opt for complex combinations of uppercase and lowercase letters, numbers, and special characters. Remember, don’t reuse passwords across different accounts.
Enable Two-Factor Authentication (2FA)
Add an extra layer of security to your accounts by turning on 2FA wherever it’s available. Even if your password is compromised, 2FA makes it much harder for cybercriminals to gain access.
Monitor your financial accounts regularly
Review your accounts multiple times a week. The sooner you spot suspicious activity, the quicker you can act.
Stay safe on Wi-Fi
Public Wi-Fi networks can leave you vulnerable to hackers. Always use secure, private networks, especially when accessing financial or personal information. Consider using a Virtual Private Network (VPN) to protect your data when using public Wi-Fi.
Additional tools to protect your identity
Stay one step ahead of identity theft with these helpful resources:
- Credit freeze: Prevent new accounts from being opened in your name.
- Credit monitoring: Get alerts for suspicious activity on your credit report.
- Banking alerts: Contact your local branch or Relationship Manager to set up notifications for unusual transactions.
- Identity theft protection services: Comprehensive monitoring and recovery assistance for added peace of mind.
What to do if your data is compromised
If you suspect your identity has been stolen, act fast:
- Alert your bank and credit card companies.
- Change your passwords, especially for financial accounts.
- Monitor your credit reports for any new accounts or inquiries.
- Place a fraud alert with major credit bureaus.
- File a report with the FTC at IdentityTheft.gov.
- Freeze your credit to stop unauthorized activity.
Stay informed and stay safe
With fraud on the rise, staying informed is the best way to protect your personal data. At Northwest Bank, we’re committed to helping you stay secure.
Let’s work together to keep your personal and financial data safe from cybercriminals.