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Did you know that over the last few years, victims of fraudsters have lost over $8.7 billion? According to the Federal Trade Commission, from January 2021-June 2023 victims lost a staggering $2.7 billion due to social media scams alone. The second largest being website/app data leaks at $2 billon and phone scams at $1.9 billion.

Fortunately, there are steps you can take to prevent yourself from becoming the next victim. Here is your complete guide to your data privacy protection.

Use unique passwords

Every password, for maximum authenticity, should be complex, at least 12 characters long and changed regularly. Be sure to include letters, numbers and symbols. Each individual account made should be protected by its own unique password.

To create and store all your passwords, it may be helpful to use a password manager. Passwords kept on a sheet of paper, or a written document are at risk of being lost and left in the wrong hands.

Switch on Multi-factor Authentication (MFA)

Multi Factor Authentication is a great addition for your account to achieve higher security. When logging into any of your accounts, it’ll send a verification code to either your phone or email, to ensure that it is you requesting access. Keep in mind to never give MFA codes to anyone!

Take advantage of alerts

You can utilize our TFCU Card Control app to control your Debit Card usage and receive instant alerts when your card is being used. We also offer real-time fraud alerts to alert you when a potentially fraudulent transaction has been attempted on your card.

Web Browsers

Confirm website security when you are browsing or shopping on the internet. Look for the lock encryption in the top left corner of the website’s URL to ensure you are protected.

Personal Data can be stored indefinably. This means that the data collected can be used in countless inferences such as your socioeconomic status, demographic information, and preferences. That data can be used as marketing tools for companies collecting information. Privacy laws allow individuals to take back complete ownership of their data, and even exercise their right to be forgotten.

Make sure you are aware of your privacy/security settings on devices and online services. A list of popular devices & services with direct links to their privacy settings can be found at https://staysafeonline.org/resources/manage-your-privacy-settings. You can find information on TFCU's Privacy Policy by visiting https://tauntonfcu.com/account-disclosures.

Manage your privacy settings on services and apps

Make sure to delete apps and software that are no longer being used; apps can still collect and share data even when you don’t use them. If an app or software program refuses to function unless you share certain data that you don’t think it needs, highly consider finding another app.

Some default settings should usually be turned off, unless you need it for the app to function and you trust the app: camera, microphone, location, Bluetooth, sync contacts. Avoid using Public Wi-Fi. Some wi-fi can be encryption-free which could allow hackers to add malware to the public internet connection.

Stay tuned for part 2: "Good habits to get into when protecting your information"

For more information, and additional tips, please visit https://tauntonfcu.com/security-tips  

Sources: 

https://www.ftc.gov/news-events/data-visualizations/data-spotlight/2023/10/social-media-golden-goose-scammers