Identity Theft is a very watered down term that is used by all sorts of companies and products, as in “Don’t be a victim…”, “We protect you…”, “24/7 protection…”, etc., etc.  Despite all the claims and noise around this topic, the term Identity Theft still strikes fear in every person who hears it.  Why? Identity Theft is a violation of your person, and it may surprise you how many people you know who have experienced its aftermath.  Identity Theft can happen to you while you are online, but there are things you can do to prevent it.  As this is a fast moving current, you have to stay engaged and aware in order to be protected. In other words, you have to know and understand (to a point) what threats are out there.

Have you heard the term Social Engineering?  This describes how people fool you into voluntarily giving up information about yourself or specific information about your financial accounts.  It starts out very innocently when you get an email that tells you that your bank account login information has expired and that you need to click on a link to update your information. (This is what is known as a Phishing scam.)  So the cyber criminal has suggested to you that an action is required, but you voluntarily click on the link and give up your account data.  Once the criminal gets your login data, they empty your account.  Amazing is the fact that today, four years after Phishing first hit the internet, it is still the most effective tool to steal someone’s online identity and their money.

Are you aware of the term Pharming?  In a Pharming attack, malicious code is downloaded to your computer that will look for specific online account activity.  When you open your browser to go to your bank, the malicious code will redirect you to a fake website that looks like your bank and you then enter your user name and password which the cyber criminal captures.  They put up a message that the site is temporarily down, please try again later, and then use your captured credentials to log on to your bank to clean you out.  Is it effective? YES, with thousands of new victims monthly.

How about the term Keylogging — have you heard it?  This is yet another nefarious way that cyber criminals can get to your private data.  Through many creative ways, the criminals get you to click on a link or a picture or an email that downloads malicious software code to your PC that has only one purpose: copying every keystroke you make on your PC and in real time transmitting those key strokes back to them.  So if you are typing your user name and password for your bank, they see it in real time.  If you are typing in your credit card number, a card verification value (CVV) number, address and name for an online purchase, they see it in real time.  If you are filling out a credit application that requires personal data, they see it as you are typing it

It is scary what is being done today by cyber criminals to capture your very personal data so that they can violate your identity, or so they can sell it to another criminal that will do the same.  The obvious question is “What can we do to protect ourselves?” There are several good steps:

• Implementing and maintaining up-to-date anti-virus software
• Working with solutions that encrypt and auto log you on to your online accounts
• Installing anti-keylogging software
• Employing services that provide protection and remediation when something bad happens.

The Internet is here to stay so finding ways to enjoy this amazing communication medium while being safe is important.  In the end, the single biggest deterrent is being aware and being careful of where you are and what you are clicking on.  Have a circle of trusted friends and associates and do not click or open email from anyone outside that circle is certainly one approach you can take, but there are many.  Caution can pay very big dividends.

Wake up. Be Safe.

Related posts:

1. The IDGuardian Podcast: Episode #005 — Threats Facing Consumers Online
2. Reflections from a Black Hat Hackers’ Conference (Part Two)
3. WARNING: “New Facebook Feature” Is Actually a Phishing Scam
4. Identity Fraud Fact: Little Guy is Big Target
5. The Taxman (and Identity Theives) Cometh: The “Tax Tip Thursday” Edition