The many new faces of online identity theft

Phishing, pharming, spoofing, smishing —what do all these words mean? Each have to do with online hackers, and your information. Almost everyone today who does anything online has had some experience with unscrupulous companies or people. For example, phishing is when you get email that looks like it is from your bank or PayPal or EBay, but it is a fake. It tells you to click on a link to “confirm” your information. The link is phony and will take you to a website that collects your personal information and allows thieves access to your account.

Different words, same result

Then there’s pharming, also known as spoofing, where hackers redirect legitimate online traffic to their own website, and smishing, where criminals use cell phone text messages to get you to divulge your personal information.  Regardless of the name, each one of the above are things hackers use to steal your personal information. They may use the information themselves by trying to withdraw money from your account, or they may sell it to a third-party, black-market company. Either way, you’ll have some trouble fixing the problem once your information is compromised.

Hackers are getting smarter

Some people think they can outsmart hackers by eliminating the computer from their daily bill payment method. Sure, this might counter some of the above tactics, but there are others. Hackers put in the work, and figure out how to mine for your data. They also use vishing, or “voice phishing,” to leave you automated phone messages from fake banks or credit card companies. The message will ask you confirm information to get details about where your money is kept.

There’s also a bank card skimming method, where thieves will put out bogus ATM machines. When you enter your card, your information is captured and when you enter your pin, they have that too. A portable card reader, which is very simple, will do the trick and make you vulnerable to theft.

Not to cause alarm, but . . .

The solution is not to stop answering the phone calls or get rid of credit cards. Phones and credit cards unfortunately are modern necessities. The reality is you HAVE to defend yourself. Here are some basic tips to remember about identity theft:

• Order your credit report yearly. You are allowed one free report every year from Equifax, Experian, and TransUnion. Get them, review them, and make sure everything is accurate, including account numbers and balances, your name, and addresses.
• Never give your personal information to anyone over the phone or online. Remember – your bank, PayPal, EBay and credit card company already HAVE your information. There’s no reason to ask for it again.
• If you’re self employed, keep your business on your own computer, never on public. After signing out, some people leave valuable information on a public computer. Wireless connections are also more dangerous when dealing with business issues.
• Protect yourself when you are at an ATM. Don’t be afraid to let someone go before you if you think they are standing too close. Also, be sure to never keep your PIN near your card. There’s a reason why banks tell you to pick a number you can easily remember.
• Use the paperless option when it comes to your bank statement. Thieves will go through your mail and garbage to get your information. Handling transactions online leaves no physical record for anyone to steal.

Keep your guard up

These are just some of the ways you can protect your identity and your finances from hackers and thieves. Be vigilant and careful with your information. Theft, and identity theft especially, are difficult to sort out if it happens to you.

Tags: bank account, Identify theft, online market, protect your identity