We live in a digital age where almost all transactions are completed online or in person with a credit card. On the one hand, the internet has made our lives easier, but on the other side, it has allowed scammers to enter our lives.
It's like a salesperson coming into your home to show you their latest things but sneakily stealing your personal belongings.
You might call it theft, but it's referred to as a 'data breach' in digital terms.
To avoid online scams, identity theft, and fraud, you must safeguard your personal information, such as your address, phone number, accounts, passwords, credit card details, etc.
So, keep reading to know some tips to keep your information safe and secure from a data breach.
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“Sharing of personal information without permission!”
According to research, the biggest data breach caused a loss of $6.75 million approx to a Canadian business.
It’s only one case, and several other reports claim professional and personal leaked information and stress.
Image Credits: Freepik
The Internet has made shopping and balance transfer convenient and easy. But sometimes, we deliberately make some errors and mistakes that can cause our personal and financial information to be leaked.
There are two things to ponder:
You can follow helpful tips or take preventive measures to avoid any data breach. Some of them are:
Changing passwords often might sound simple and obvious. However, still, most of us fail to do so. In fact, a study by Comparitech revealed that almost 52% of people prefer to use one password for their multiple accounts.
Moreover, it showed that most people reuse their old passwords in the future. So imagine if your one password were leaked, all your accounts would be at risk of breach.
Following essential tips and keeping a few simple precautions in mind can save you from losing all your account's data.
Sign up for multiple verification processes on your important accounts. So, whenever an unauthorized person tries to get access, they have to enter a code.
You can choose to receive the code via text, email, or even a call on your provided number and account.
2. Secure Portals
Public Wi-Fi and unsecured websites are usually risky and scammy. Therefore, you should always avoid using such portals to enter your confidential data.
Scammers or hackers can access your sensitive information through malware, virus, or unprotected link.
Sign up for account alerts for all the login, transactions, or password changes. So, you can get notified whenever there’s unknown access.
You can also set notifications for purchase and transfer limits. Taking additional measures will only keep your information safe.
However, if still there’s a data breach, here’s what you should do to protect your information:
All your efforts to build credit or get a good credit score in Canada can all be in vain if you don’t freeze your account timely after a data breach.
You must apply for a fraudulent report and call your company to freeze your credit card. Otherwise, you might suffer from exceeding the credit limit, thus taking a toll on your improved credit score journey.
Online data breaches are one of the reasons you must check your credit report regularly.
After freezing your account, you should report to the respective authorities and file a complaint to recover your data and money.
Involving legal representatives can save you from trouble if they use your stolen information for criminal matters.
Bonus: Click to read a comprehensive study on online fraud and cybercrime. You never know; you might find the information you can’t afford to miss.
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If your credit card or account information was hacked and leaked, your card company or bank might offer their services to help you out.
It’s always wise to get help from authorities because they might aid you in fighting your case and getting your claims. So, check your credit report and outline any foreign activity on it.
Seeking help from the right people can calm your throbbing nerves!
Moreover, the merrier seems like the correct choice when you’re a victim of cybercrime because you’re already in a panic mood and want the best solution for the situation.
However, these companies and organizations might be too expensive for your liking. So, only consider this option if you can afford their services.
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Recovering from a data breach can be expensive and energy-consuming. But it can also leave effects on an individual life that seems unbearable.
It can suck the energy out of your life while struggling and dealing with things. Similarly, if you suffer from a data breach causing big irreversible losses, your career might be disturbed.
A data breach is a cybercrime that can be of different types, having different yet similar results. Here are some common data breaching types:
Every attack might have similar consequences, causing a company or individual to lose sensitive information, data records, money, and even clients.
Let’s discuss some impacts of a data breach on individuals:
Loss of finances is among the unavoidable damage an individual suffers in case of a data breach.
For instance, you get a credit card for the first time but don’t know much about the usage and got scammed by a prank call claiming to share your details.
Even worse, your database was hacked, and your business account information was leaked, causing a 29% decrease in revenue. Security Intelligence revealed that $5.72 million was compromised in 2021 due to a data breach.
The individual suffering from a data breach is constantly under pressure while dealing with the preventive measures of avoiding high data breach risks.
These are only a few conditions one may suffer from in case of a data breach. In addition, the level of damage increases as the results of the attack uncovers.
Image Credits: Freepik
Bad things have a way of spreading faster! For example, if your business suffered a data breach that caused an immense loss, there’s a higher chance that all your competitors already know about the situation.
Some professional damage a data breach may cause. According to a study, 65% of people lost trust and confidence in their organization after a data breach.
If your sensitive information was compromised during the breach attack, it might cause a temporary (or worse, permanent) pause in your operational tasks.
There can be other hacking or identity theft attacks that can stop all the stability and revenue-generating processes of the company.
You might have to deal with constant lawsuits that can cost you tons of money. Moreover, lawsuits are time-consuming and can continue for a long time, resulting in lost health and money.
Even big organizations like Target failed to protect their data and suffered prolonged lawsuits.
In fact, sometimes, the court might prohibit the company from continuing a certain product until the legal investigation is complete.
That’s it from our side, fellows!
We hope this detailed article was helpful for you, and by now, you must have several tips noted to deal with a data breach and leaked information.
Lastly, let us know what we missed or what other tips you have got to share with the Plastk Blog Community!