Online scams are nothing new, and yet they continue to create havoc in people’s lives. Cybercriminals develop new strategies all the time, so staying safe online can even be more challenging now than a year ago. Knowing what to do in 2024 can protect you against online fraud that could result in identity theft or unwittingly losing money.
Keep reading as we share six key tips for defending yourself against online fraud this year.
Six key tips for staying safe online in 2024
1. Protect your online information with security software
Using updated security software on your computer is one of the best ways to guard personal information online. If you’re posting personal or business information, make sure security and privacy settings are in place to prevent unwanted access to private details. Minimize how much personal detail you post online to reduce the chance of it being used against you in scams.
On public computers and networks, it’s easier for hackers to install software that helps access data. So, avoid using public computers when sharing personal or financial information online (this includes your login details).
2. Be aware of business and personal e-mail scams
Knowing how to spot a scam will save you from a lot of trouble! If you get an e-mail asking for the following sensitive information, avoid responding before verifying the source:
- Banking details
- Username and password
- Social security number
Verifying with your banking institution before handing out sensitive information is important.
Avoid clicking on links or attachments in e-mails from unknown sources - this is another avenue often used to gather information for fraudulent activities.
3. Install identity theft protection services
With more digital transactions taking place through websites, illegal access to private information online has become easier. This often results in identity theft, which could lead to huge financial losses and a bad credit record. Using identity theft protection services designed to monitor online activity done in your name can protect you from this threat.
With the best identity theft protection installed, you can benefit from features such as:
- Online account surveillance
- A secure digital vault for storing sensitive personal data
- A password manager
- Safe browsing tools
Identity protection services act as a barrier against fraudulent online activities, keeping you and your personal information safe.
4. Monitor your bank accounts and credit records
Checking your bank accounts every day through an online banking app will tell you if there are unusual transactions you didn’t authorize. Then you can inform the fraud department as soon as you notice a problem. Installing online notifications is another way of alerting you to unusual activity on your bank account.
Monitoring your credit record regularly also tells you if there’s any suspicious activity taking place. This can include information such as accounts being opened in your name. Report such activities immediately to prevent further fraud and consider setting up alerts with a credit reporting website to keep track of your credit score.
5. Change your passwords frequently
Cybercriminals can access your online information using your password. Changing your passwords every few months makes it harder to compromise your personal data online. However, if the prospect of doing this task seems daunting, you should at least use a strong and different password for every account. Two-factor authentication gives you additional protection against hackers who try to use your password to access your sensitive data.
If any of the following happens, make sure you change your password immediately:
- There’s been a data breach
- A friend or colleague has access to your password
- Your computer or mobile has been stolen
Avoid using the same password on your different accounts, and don’t use personal names or details or important dates such as anniversaries.
6. Stay calm
Phishing scams are rampant and one of the most prevalent internet frauds used to gather private data through e-mails or phone calls. Think twice and stay calm before handing out sensitive or personal data to anyone. Verify the source requesting information, and don’t be afraid to hang up on a call from someone asking for sensitive information.
Online fraudsters know how to push emotional buttons to exploit you or your business, so keeping your wits about you is important to staying safe. If you suspect you’re the victim of online fraud, report it immediately to the relevant authorities.
Final thoughts
Safeguarding your business or personal information is vital if you want to protect yourself from online fraud in 2024. Do your research before sharing sensitive data online, and use the six key tips in this article to boost security and have peace of mind this year.