Protect Your Identity, Protect Your Pocket

One should know what steps to take to keep personal information and money
safe. Day suggests the steps one can take while making online transactions or
posting personal details on Internet

Over the last few years, Internet fraud has emerged as a considerable risk,
rising from continued usage of Internet for a range of transactions, from
shopping to banking.

From tracking and managing money to comparing prices and searching for the
best deals, Internet is fast becoming the first port of call. Furthermore, the
convenience offered by Internet means that online transactions are here to stay.
So how can we continue to take advantage and at the same time make sure that we
are not putting our identities-and even our money-at risk?

A report from the Federal Trade Commission (Consumer Fraud and Identity Theft
Complaint Data, Jan-Dec 2007) revealed that last year, consumers reported fraud
losses totaling more than $1.2 billion, with identity theft making up 32 percent
of complaints.

In addition to the increase in online transactions, the sudden growth of
social networking sites has contributed to the growth of online fraud and
identity thefts. One should be aware of the risks involved in simultaneously
giving away details that may enable the perpetrators of Internet crime to hack
the confidential passwords that we are using as we transact.

But whilst people are becoming more aware of the threat of identity theft,
with so much information about them posted on the Internet, they are at risk of
becoming their own worst enemy.

The bottom line here is that there is no reason why we can't continue to
transact online or do anything else on the Internet, as long as we know what
steps to take to keep our personal information and our money safe as we do so.
One key step in this respect is that we all need to take care of the information
that is publicly available about us. Our use of Web 2.0 sites also means that
many of the answers to questions commonly asked as part of security checks are
freely posted on social networking by unsuspecting users and all this
information is becoming a focus for those wanting to commit Internet crimes. The
important thing to remember is that not every dialogue box needs to be completed
and it's always a good idea to complete only those that are deemed obligatory.

The main point when it comes to sharing information on the Internet is that
if you wouldn't tell something to someone who came up to you in the street and
asked for it, then you should think twice before posting it online. On the
Internet, it can be seen by any number of people and will be almost impossible
to remove. It can be much harder to remove any personal details that you've
posted, especially if it is replicated on other sites.

Precautionary measures

When transacting online, there is a lot that can help to secure personal
information and money, to stop it getting into the hands (or pockets) of the
Internet bad guys. A very obvious step, but one that is often overlooked, is
that you should always make sure that the site you are using is legitimate: this
can be quite a challenge as bogus sites can look as good as the real ones, but
if you are unsure then pick up the phone and contact the site. If you can't get
through then you can't be sure that it is safe to enter your credit card
details. You should also do whatever you can to make sure that the computer you
are using is as secure as it can be.

Be extra cautious when using computers or connections in public places.
Public computers may be compromised, as there are devices that can log your
keystrokes and capture your personal information in that way. Equally, be
cautious when using wireless connections-the FBI has recently published a
warning of the dangers of Wi-Fi hotspots (http://www.fbi.gov/page2/may08/wifi_050608.html),
in which they highlight that hackers can 'grab your personal data out of thin
air'. Their advice to users of such access points is to make sure the laptop
they are using has an up-to-date security and to turn off Wi-Fi capabilities
when not in use, set the computer so that you have to manually select the
network to which you connect and even go as far as to advise against transacting
or using e-mail or instant messenger programs. It's clear that the threats
relating to personal data are being taken more and more seriously, further
highlighting the need for caution, particularly when you are using the Internet
in a way that could make you vulnerable.

Another option is encrypting important data on your PC, so that if the worst
happens and someone else gets access to it, perhaps on an insecure Wi-Fi
connection, your personal or sensitive information cannot be accessed.

As we look to the future, security threats will continue to evolve and it's
essential that anyone using the Internet is keeping up with emerging threats and
how they need to protect themselves. The great thing about any technology is
that it does evolve and deliver great benefits, but one always has to be
cautious of the not-so-nice side of it too. If we continue to be savvy to the
threats, the Internet can continue to simplify the way we live as well as save
us money and time.