It seems like everywhere we turn, our news feed is filled with stories of credit card fraud, identity theft, and data breaches. This article outlines six cybersecurity steps for military families to create additional hurdles for cyber criminals who would try to access your personal information, bank accounts and credit history.
At work, cyber professionals protect our emails and data; but protecting ourselves and our family from fraudsters and cyber threats can feel overwhelming. When it comes to our personal financial information, the best way to shield your data is to avoid being an easy target.
While there are dozens of small actions you can take to protect yourself, it might feel a little less overwhelming to know that sometimes the best offense is a strong defense.
Use a password manager
With so much of our life, work, and finances dependent on online accounts and phone apps, keeping passwords at our fingertips often forces us to rely on memory shortcuts including simplicity, repetition, and password cheat sheets. After all, we’re only human; we can’t remember 100’s of complicated passwords. The trouble is all three of these password crutches make it easy for cyber criminals to access your accounts. The most recent example played out at the DNA based ancestry company 23andMe, where hackers used usernames and passwords stolen from other websites to steal personal health and DNA information from the ancestry firm.
To avoid reusing the same simple password across multiple accounts, most cyber experts advise using a password manager. A password manager is a software application that can simplify your password life by giving you one master password to keep track of while replacing your easy to remember passwords with unique, cryptic passwords for each account, website and app in your cyber life. A password manager can also keep would be fraudsters guessing by changing your passwords frequently and notifying you when a website that you rely on has been compromised.
Several companies offer free or nearly free password managers appropriate for individuals and families. This recent New York Times Wirecutter article reviews two of their favorite password managers, 1Password and Bitwarden.
Enable 2 Factor authentication (2FA)
While you’re updating your passwords, take the extra step to set up 2 Factor Authentication (2FA) or Multifactor Authentication (MFA) on your accounts. After your password, the best way to protect sensitive financial, health or personal information is to enable this added layer of security. This second layer of authentication serves as a backstop to stollen or compromised passwords by requiring you to enter a unique numeric code sent to you via text or through an app on your phone. In many cases, you can use biometric verification as a secondary authentication step.
Avoid Using Public WIFI Networks
From airports to hotels and coffee shops to restaurants, everywhere we go, we’re offered the opportunity to access free WIFI networks as an alternative to using our cellular data; but the convenience of free access comes with unnecessary exposure and risk. Because the network is intentionally designed for easy access, it’s also easy for anyone with nefarious intentions to access your personal and financial information while on these public networks.
One of the best ways to minimize your risk is to use a Virtual Personal Network (VPN) to encrypt your data as it is transmitted. Several companies offer VPNs with family and multidevice solutions that you can add to your cell phone, laptop, and other devices to protect your data when you’re away from home. Check out Wirecutter’s Top VPN providers for 2024.
Beyond just protecting your personal information, it’s also critical to secure your bank accounts, credit cards, and credit record. You’ve worked hard to earn a strong credit history, here are a few steps to make it more difficult for someone to hijack your good name.
Check Your Credit Report
After our identity, one of the most important things we need to protect is our credit. Get in the habit of checking your credit reports each year to ensure no one has opened credit in your name. The best way to do this is to pull a free credit report from each of the three primary credit reporting bureaus at staggered dates throughout the year.
You can download your credit reports for free via the Federal Trade Commission’s AnnualCreditReport.com website. Review each report to ensure the data on your report is accurate, that there aren’t any administrative errors or suspicious activities like new credit cards or loans that you haven’t opened. You also want to look for addresses that don’t belong to you or your family members.
Freeze Your Credit
Anyone who has access to your Social Security number could gain access to your credit. Preventing this direct access to your credit requires taking your credit protection one step further by placing a freeze on new credit in your name. Locking your credit prevents anyone from opening credit accounts or loans in your name.
When you lock your credit, it is crucial to keep the unlock code the bureau provides in a secure, but accessible place. You’ll need this information to “unfreeze” your credit the next time you want to open a credit card or purchase a car with a loan.
To freeze your credit, contact each of the three primary credit bureaus through either their website or by phone:
Equifax (800) 685-1111
Experian (888) 397-3742
Transunion (800) 916-8800
If you’re a parent, remember your child has a social security number, too; and because kids’ credit typically goes unmonitored, they’re easy targets for hackers and thieves. To protect your child’s credit history, go ahead and lock your child’s credit, too. Again, keep that unlock code where you can locate it so you can unfreeze your kids’ accounts when they’re ready to take responsibility for their own credit.
Use a credit card with a chip
One of the safest ways to protect your purchases from fraud is to use a credit card with the latest anti-fraud technology instead of your debit card. The primary difference here is that if you’re the victim of fraudulent purchases with a credit card, it’s the credit card company’s money that is at risk. If a fraudster uses your debit card for purchases, it’s your own checking account’s funds that are at risk. Reserve the use of your debit card for the very rare instance that you need cash.
Protecting yourself from would be identity thieves and financial criminals can feel like an impossible task, but mastering these six cybersecurity action steps steps for military families can go a long way toward establishing a solid defense.
Because our digital world evolves daily, I encourage you to explore these additional resources:
FINRED’s Warning Signs of Identity Theft
The Federal Trade Commission’s Guide to Credit Freezes
The New York Time’s Simple Guide to Online Security.