E-Commerce has boomed over the last 20 years for the purchase and sales of online products. As useful as the internet is, it also leaves individuals open to vulnerabilities with their bank accounts and personal identifying information. Tech savvy generation Y tends to be more open to using the internet without considering the bank fraud possibilities and the ease in which personal information can be acquired. Consider these three areas in which a few simple changes can make a world of difference in the safety of your identity.
- Passwords
Probably the simplest change and the one that is mentioned most often is utilizing and protecting good passwords. Pick passwords unique to you, something you can remember yet would not be easy to guess. Avoid birthdates and common words. Also, don’t share your password through email or text. Millennials are four times more likely to have their account and payment information used for fraudulent purchases by someone they know versus a stranger.
- Secure Internet Connections
In a world full of free wi-fi it seems easy and convenient to check a bank account or pay that bill while waiting in line at Starbucks. Utilizing free wi-fi networks is inherently lacks security and opens up accounts to easily being hacked. Wait until you are on a known network to make financial transactions, including purchases, to save yourself the difficulties associated with having a credit card number stolen.
- Social Media Sharing Mentality
Facebook, Twitter, and many other social networks make it easy to share information. This includes your current location and birthday. Information that was not easily accessible previously is now common knowledge. Next time think before you Tweet your location or message your NetFlix password through Facebook to your best friend to help keep your private information just that, private.
