While new account fraud is at an all-time low, Javelin Strategy and Research revealed in its 2015 Identity Fraud Study that two-thirds of all 2014 victims had received data breach notifications that same year.
“Consumers, financial institutions and retailers are all taking aggressive steps, yet we must remain vigilant,” Javelin Director of Fraud and Security, Al Pascual, said in a press release. “The criminals will continue to find new ways to commit fraud, so taking advantage of available technology and services to protect against, detect and resolve identity fraud is a must for all individuals and corporations.”
How can you keep yourself safe? Javelin pinpointed six tips that can protect consumers from data breach-related identity fraud:
- Secure mobile devices — If your phone isn’t locked with a password, you should get on that. While you’re at it, apply those software updates.
- Be smart about your passwords. What does that mean? Check out our post from last year: A Frank Discussion About Password Security
- Start utilizing mobile payments solutions like Apple Pay. It might sound backwards, but using a payment solution can reduce the visibility of your debit and credit card information to fraudsters.
- Take advantage of account alerts to monitor potentially fraudulent activity. Make sure your financial institutions know you want to be notified of suspicious activity.
- You know how they offer free credit monitoring after a data breach? Look into what that means to mitigate the impact of the breach.
- Get help! Don’t wait around. Contact your bank and credit card providers right way.