October 5, 2015 1:49 am
If you’re a millennial, you might be. According to a recent TransUnion survey, most millennials are not taking action to safeguard their personal information online, despite being the most concerned about cyber crime. In fact, almost 90 percent of millennials store bank account information on their phones, and about 85 percent check financial accounts while connected to public Wi-Fi – actions that put them at risk of identity theft.
In contrast, only a third of baby boomers report being concerned about identity theft, but at least half take basic precautions to protect themselves. Just half of boomer respondents said they store important information on mobile devices and just over half check financial accounts while connected to public Wi-Fi.
“Cybercriminals don’t care about your age; they just want access to your identity and credit,” says Ken Chaplin, senior vice president at TransUnion. “It is important for people of all ages to be aware of the behaviors that make them vulnerable to identity theft and to not sacrifice security for convenience.”
TransUnion advises all Internet users, millennial or otherwise, to heed the following best practices for cyber security.
• Activate password protection on your phone. Cyber criminals can install applications on stolen phones that give them access to the device’s personal information, like photos, personal calls and banking applications. Set a unique password on your phone to create a barrier that makes it difficult for anyone to access the information.
• Approach near field communication (NFC) applications with caution. Criminals have traded spam and antivirus hacking methods in favor of third-party applications. NFC applications, which allow data to be transferred between two local devices, such as through tap-to-pay methods at checkouts, and other third-party payment applications should be approached with caution.
• Avoid accessing sensitive information on public Wi-Fi networks. Businesses that offer public Wi-Fi are required to share a liability notice, but many may not read it. By using Wi-Fi sniffing, when criminals intercept information while it travels from the access point to the device, your personal data can be at risk.
Published with permission from RISMedia.