How to minimize the impact and risk of a Data Breach?

In our day to day life, there are many instances when we need to share our personal as well as financial information over the internet. No matter which platform you choose to pay money through, this doesn’t make you less vulnerable to data breaches because scammers are always on the go to find out vulnerabilities on different platforms.

No matter for what purpose you share your financial information over the internet, it may somehow get in the hands of hackers. As we may see from the recent examples of a data breach which clearly tell us how unsecure it is to share our personal information. Following are the examples of some data breaches that took place lately and shocked the internet as well.

  • ShinyHunters Breach
  • Washington State Auditor Breach
  • DriveSure Breach

To get the complete details of these data breaches, you can always search Google about it and how these breaches were carried out.

Read Also >> Practices to stay safe from Phishing through PII

Here’s what you can do

Besides doing anything else, you must give heed to saving yourself from unrecognized financial losses. To ensure safety throughout your financial life, it is a must that you practice the following things regularly:

  • Always keep your bank account statement updated

Your bank account statement has all the records of whatever is done by your credit or debit card. Along with it, you can have a glance at where all your money is spent. You can have a look at this statement and know if there is any transaction that is not carried out by you. If you come across any such transaction, then are ought to report it immediately.

  • Avoid using public Wi-Fi

If you go to a coffee shop or go to a library, make sure you do not use their connection to place an order or make any transaction. This is because the public connections may not be as secure as you must be thinking. Since public internet connections are quite insecure and vulnerable, therefore you should avoid using them.

  • Opt for fraud alert feature

If your bank allows you and has any such facility, then you must make use of this facility by opting for this service as fast as possible. Although you might need to pay a fee for the same it will never go in vain. When you opt for this service, each transaction is scrutinized and then processed.

  • Keep changing your password

Every time you download a new payment application such as PayPal or Cash App, you need to ensure that you are not using the same password to unlock these apps.

Using a security solution on all your devices never goes in vain because they are made to help you in some of the other ways. This product from McAfee keeps checking on your accounts and lets you know of any suspicious activities if it comes across any.

Conclusion:

Staying alert on social media platforms is the key to safeguarding yourself from identity theft and things like that. But, on the other hand, only securing your online identity is not enough but you also have to safeguard yourself from financial data breaches as well.

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