Complaints about identity theft and cybercrime are on the rise. In 2020, the Federal Trade Commission received 1.4 million complaints about identify theft, up from 651,000 complaints reported the year prior. No persons or organizations are safe anymore, with even large-cap companies like Ubisoft, Nvidia, and Samsung reporting cyber security breaches in 2022. Even though we know how prominent cybercrime is, many individuals still forget to prioritize account management and security. Shifting this mentality will be crucial moving forward, and fortunately, there are many ways to improve account privacy. In this article, we’re going to explore the top three.
1. Create A Cybersecurity Plan
Like most things, whether it’s installing virtual machines or managing Cloudfare records, individuals will want to create a plan. The key to creating a sustainable cybersecurity plan is to focus on the present and the future. In other words, individuals don’t want to just cancel old accounts and check security settings in active ones. They also want to plan for potential wrongdoings.
Backtracking after something has already gone wrong won’t do any good, so individuals should proactively research and implement various cybersecurity safeguards. These safeguards can include but are not limited to malware protection like anti-virus software and downloading a virtual private network (VPN). For perspective, a VPN provides users with a secure connection between their computer and the Internet.
2. Use A Secure Password Vault
According to recent statistics, 87% of consumers have been locked out of their accounts because of too many login attempts. Most of these attempts can be traced to individuals using multiple passwords for different accounts. At the same time, however, some individuals recycle passwords and keep a list of them in public spaces to remember them. Doing this is an added security risk, but if that’s the route someone wants to go down, they should ensure they’re using a secure password vault. For those who don’t know, a password vault is a software program that keeps recycled passwords in one digital location.
3. Set Up Multi-Factor Authentication (MFA)
Even though passwords vaults are secure, individuals are still reusing passwords. That means hackers can still guess someone’s password, giving them access to several legitimate user accounts. Setting up multi-factor authentication (MFA) has become increasingly popular as an alternative since it improves security by asking users for more than a password for authentication.
While they are of the same lineage, it’s important to note that multi-factor authentication (MFA) is different from two-factor authentication (2FA). 2FA requires two factors, while MFA can be divided into three categories: knowledge-based factors, possession-based factors, and inherence-based factors. The latter includes biometrics, which can be everything from fingerprints to facial recognition. Recent studies have found that 89% of consumers believe biometrics are more or equally as secure as passwords, and 68% of consumers said they would prefer to use biometrics over two-factor authentication.
Over the years, society has become more reliant on the Internet for everyday uses, such as banking. While this has enriched our world, it has also resulted in a spike in cybercrime and identity theft. Fortunately, there are many ways to counteract these issues, such as making a plan, using a secure password vault, or setting up multi-factor authentication.
