Top Four Misconceptions About Identity Theft

In order to effectively protect their financial future, enterprises must pay more attention to the factors within their control. There are a lot of other, more pressing issues to consider, so it’s simple to become complacent or duped into a false feeling of security. Therefore, enterprises must stop believing several myths about identity theft right away.

In today’s corporate environment, with increasing hostile attempts to obtain personal information, businesses have become more conscious of workable security policies. It’s wise to abide by that rule at all times, yet there are always slip ups. New and sophisticated techniques to steal identities and financial information are constantly being developed, since their modus operandi has been recognized.

No one is safe, but firms can protect their financial future by arming themselves with knowledge and solid security practices. Let’s start by identifying and dispelling some misunderstandings about identity theft, and the best online and offline practices for identity protection.

Phishing scams are simple to identify

Until lately, phishing frauds have attempted to steal personal information—often containing obvious warning flags of deception, such as misspelled words, poor English usage, or a direct link from a trustworthy website to a phony page. But as scammers become more cautious, it becomes more challenging to recognize phishing emails.

Also Read: Top Five Information Security Program Pitfalls Enterprises Must Address

Therefore, companies should exercise caution if an email contains any of the warning flags mentioned above, claims there is a crisis with their account or payment information, requests personal information confirmation, or demands them to click on a link to make a payment. Employees should not use the contact information provided in a suspicious email to get in touch with the organization; instead, they should use a phone number or website that they are confident are legitimate.

Enterprises that exercise sufficient caution will never become victims of identity theft

The truth is that no one can completely protect against identity theft, and hackers are becoming increasingly skilled in their attempts to obtain personal data.

There are no assurances and no solutions to totally protect information from being exposed, but taking measures to protect personal information can help organizations avoid falling victim to identity theft.

That’s because cybercriminals have continuously improved their techniques for obtaining personal information, such as credit card numbers, social security numbers, information from driver’s licenses, bank account numbers, computer and account passwords, and more. Malware and viruses that may lurk on computers, track keystrokes, and penetrate programs are among the tools that cybercriminals might employ to infect devices. Additionally, they have the ability to attack firms and organizations online in order to gather customer data from servers and computers that are vulnerable.

Also Read: Top Four Implementation Impediments for Password less Authentication

Only adults are impacted by identity theft

Identity theft can actually affect kids as well. A child is not likely to have an active credit history; therefore, their spotless credit report could be a gold mine for identity criminals. Using a stolen social security number, criminals may open new credit card accounts, obtain a loan, or submit a job application. The youngster may not become aware that they have been the victim of identity theft for some time. They might not understand this until they are old enough to try to rent an apartment or apply for a credit card, loan, or both. The fact that someone has been abusing their identity for years is only discovered afterward.

Use a complicated password that will be impossible for hackers to crack

The days when a predetermined combination of characters and symbols was sufficient to prevent hackers from accessing accounts are long gone, however, having a complex password is still a good idea and is mandated by the majority of firms. Cybercriminals can now use sophisticated systems to run billions of password combinations. It only takes a few moments to hack an account.

A passphrase is a password that is longer and more secure. According to industry experts, changing passwords frequently is one of the most crucial security steps that firms can control.