Recent statistics show that identity theft is on the rise, with a 57% increase in the number of identity thefts in the last year. Individuals in their thirties and fifties saw the biggest increases.
According to the fraud prevention service Cifas, social media has become a "hunting ground" for fraudsters and identity thieves, and it's not hard to see why. While some information fraudsters use is gleaned from hacking, social media often provides a number of pieces of the puzzle – contact details, addresses, full names, dates of birth, places of birth or employers. This can either be from individuals' profiles, or on their or their friends' posts. That information can then be used to apply for credit cards, online payment accounts or take out mobile phone contracts. People wouldn't give burglars the keys to their homes, but when it comes to identity theft; it appears we are doing just that.
The risks of sharing too much personal information online may not just be to you. The information which is of use to identity thieves may well also be valuable to hackers and other criminals wanting to attack the companies for whom those individuals work. Cyber security measures can easily be unlocked if an employee has unwittingly given the hacker the keys. As my colleague David Prince set out earlier this year, individuals are often the weak link exploited in cyber espionage.
The first you may know about your identity having been stolen is when unusual activity appears on your bank or credit card statements or you receive unusual emails, text messages or post. So what can be done to protect yourself and prevent identity theft? Here are five quick tips:
- Think before you post any identifying information online. Review what your friends post about you and analyse what is already out there. Can you take any steps to reduce your exposure?;
- Choose usernames and passwords carefully and apply the strongest privacy settings to your social media accounts – restrict access to your profile/posts to people you know;
- Be aware of phishing attempts, suspicious friend requests or links sent to you;
- Carry out credit checks – often the first sign your identity has been stolen;
- Consider how offline actions – planning applications, company ownership etc – can impact your online footprint.
When it comes to identity theft, taking as much care about personal information as you would in the real world is paramount. Having a burglar alarm means burglars will target less protected homes. Applying the same thinking to your personal information and online footprint will have similar results.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
