Most people don’t realize the importance of internet privacy, and how, without it, much of their personal and financial data can be easily high-jacked by cybercriminals. The level of privacy you have while connected to the internet can change in a moment.
While consumers believe it is the responsibility of the online business to protect our financial information, it is mostly up to the consumer to secure their passwords, credit card numbers, personal identifying information, and other financial data.
3 Ways your online financial information is compromised
1. Visiting non-secure websites
Most of us have visited a website, only to have our computer return a message similar to “Your connection is not private,” This means you are about to visit a website that is not reliable (without the tell-tale keylock in the title bar) and does not carry a valid SSL or TLS certificate.
This means an important layer of digital security that encrypts communication between websites and your web browser is missing. In other words, any sensitive financial data you enter on this website may be exposed and may be a source of identity theft.
2. Electronic payments without tokenization or encryption
When shopping on e-commerce sites, they will take your credit or debit card information as payment for your purchases. Tokenization adds an extra level of security to sensitive credit card data, while encryption will transform plain text into cipher text using an encryption algorithm.
When using tokenization, a random token value replaces the information you enter. A cybercriminal would need the specific token vault map to decipher the information. When considering tokenization vs encryption for online financial transactions, tokenization is preferred for structured data, such as credit card numbers and social security numbers.
3. Using public Wi-Fi with financial information
If you regularly use a public Wi-Fi connection such as in a library, airports, coffee shops, hotels, and restaurants, never send personal information such as birthdate, address, and social security number or enter financial data such as credit card numbers.
Public Wi-Fi is not secure, and cybercrime prevention measures should be used because other users on the network may be able to see what you see and send. There are new hacking tools available that make it easy for someone to hijack your internet session while on a public server.
Follow these 3 practices that can help protect your financial information while online. Additionally, make sure your pins and passwords are not weak. In other words, never use the last four digits of your Social Security number, your birthday, your phone number, or your mother’s maiden name.
To learn how tokenization, encryption, and other internet browsing security measures can protect your family’s financial data, visit InternetPrivacy.com today!
