With all of the attention given to identity theft and credit card fraud, it’s easy to forget about all the online accounts that we use on a daily basis, even though many of them store some of the same vital information that can be found on credit and debit cards.
From online banking to the booming e-commerce business and everything in between, online fraud prevention is just as important as any other form of security and protection.
While credit card fraud can be detected with relative ease and plans of large expenses are quickly thwarted, there is a growing sense that online accounts such as PayPal and Uber are actually more valuable than stolen credit cards.
According to CNBC, user information stolen from Uber sells on underground marketplaces for an average of $3.78 per account. In comparison, personally identifiable information used to commit identity theft and credit card fraud was listed for $1 to $3.30 on average. This mark is down from $4 per record in 2014.
This likely comes as surprising news to many who tend to be more careless with online fraud prevention than they are with protecting their credit cards and other information.
Here are some recommended ways to help guard your online accounts.
Know The Account Provider
Companies are becoming increasingly aware of online fraud and are taking the necessary measures to provide quality online fraud prevention for their clients and consumers.
For example, Uber and other online account providers have appointed personnel to monitor for any unusual activity that may occur on their user’s accounts. If something stands out, they will alert users in an attempt to warn them when their account may have been hacked.
Always make sure to familiarize yourself with the online account provider, including their security guidelines and fraud prevention techniques.
Newer online fraud prevention technology requires two-step authentication for users signing in on a separate computer or device. An additional level of information will be necessary before the account can be accessed.
Other companies, such as Facebook, offer two-step authentication for anytime you log-in, but they make it optional. This way people can feel secure every time they log-in, even if it’s from the same device each time. While it isn’t forced upon users, Facebook says that it’s highly recommended as an easy means of online fraud prevention.
Modern technology has made information of all kinds accessible to millions of people around the world; don’t let your sensitive information be among it. Keep these tips in mind as you browse the web, and feel free to visit Allied Wallet for more.