Financial Protection Is Something We Can No Longer Ignore

One of the problems that we are all facing today is the growing advancements in ways people are able to dig into our pockets and take money. It could be an excellent salesperson “Wolf of Wall Street” style, commercialization in which we are persuaded that we ‘must-have’ this particular item, and of course the very subject we are going to hit on today – those that are making money by selling our financial information.

How Do People Get Hold Of Our Financial Information

Even with all the ethical laws out there that are put in place to guarantee our privacy, greed will still overcome those laws. This is why companies such as Enron contributed to the 2008 stock market crash, and how many other financial companies back in that time were pulling the wool over their investors’ eyes with fake figures.

This was greed because these people did not want to lose their fat paychecks or tarnish their reputation for being successful – another type of greed.

It is agreed that many syndicates out there use to operate. It is all very well believing the amount we earn is protected by company privacy laws, but what happens when someone offers an HR employee a nice sum of $1,000 to give him a list of names and addresses as well as their current earnings? How many say no and how many say yes? 





This does happen. And then this information is sold on a black market and eventually fed through to large corporations who process the data into their systems.

No one can track how they got this data, and hat happens when they do get caught buying this black market info? Usually, they have an elaborate cover-up story, plead innocence, and at worst get let off with a small fine; a fine that is just an expense that is worth far less than the profit made by buying that information.

Computer Fraud or Online Fraud

Internet security, being used as sécurité internet for hackers is another vulnerable area every business has to protect. However, once again, in some smaller firms computer personnel have been caught actively selling access to their company system on the Dark Web in exchange for Bitcoins. There are probably plenty of cash deals that go on too.

In the USA people are hot on the subject of blaming Russian and Chinese hackers for influencing government polls. How did these people get into these websites in the first place? Was someone paid to make sure these government websites had lesser security? Well OK, we don’t really know if what are hearing in the media on this subject is true or not, but let’s say these government systems are as vulnerable as the media has reported, then how secure is our financial data?

The foreign invasion of the US IT systems has been dubbed as protection internet, which many of us cannot read or comprehend. However, just because the USA is always in the news, that does not mean every other country is also under threat from these cyber attacks. They are, and it is not just cyberattacks, but information fraud; although the information technically comes from a computer system, so this is a form of a cybersecurity breach.

4 Must-Know Tips for Protecting Your Identity

Identity theft is when someone steals your personal information and uses it without your permission. It can cause serious havoc to your finances, credit history, and reputation. That’s why you should take preventative measures to make sure it doesn’t happen to you. Take a look at these four must-know tips for protecting your identity.

Closely Monitor Your Credit Accounts

According to Javelin Strategy and Research, 11.6 million Americans were victims of identity theft in 2012. Because of this, you should closely monitor your credit accounts to make sure it doesn’t happen to you. Going paperless and setting up automatic payments with your credit accounts is fine, but you should still monitor them for unusual behavior. There are several types of identity theft — tax related identity theft, child identity theft, medical identity theft, and financial identity theft. So, monitor all of your accounts, not just the ones that give you credit.

Use Secure Passwords and Virus/Firewall Protection Software

The Internet is a common place for people to try and steal your identity. They prey on people who are too trusting and not careful with their personal information. Avoid becoming a victim by never buying anything from a website that doesn't have a BBB seal on the bottom or a trusted site symbol. Also, only use secure passwords when creating merchant accounts online. Additionally, protect your computer with a good virus protection software that has firewall and spy-ware built in.

Shred Everything that Has Your Personal Information on It

If you don’t own a shredder, it’s something you should invest in. You should shred everything that has your personal information on it so that it doesn't get in the wrong hands. This includes preapproved credit card offers, bills, and anything with your name on it. Tearing these things in half isn't enough; you should get a shredder with a cross cut to make everything unrecognizable. Old credit cards should also be shredded to protect you from identity theft.

Get a Credit Report Once a Year

Another thing you should do to protect yourself from identity theft is to check your credit report once a year. You are allowed to do this without penalty to your credit, so there's no reason not to do it. When you get your report, look for identity theft threats and take care of them before things get out of control. Identity theft is one of the fastest growing crimes in the world, so checking your credit is important.

Even if you take all of these precautions, there’s still the risk of identity theft. If you suspect your identity has been stolen, report it to the Consumer Response Center at the Federal Trade Commission. Also, notify all of your credit card companies and accounts to put a hold on them. Additionally, you may need to contact the Social Security Administration and each of the credit bureaus. The sooner you act, the better. Of course, the best thing you can do is take preventative measures in the first place.