Trusting the weakest link: What data breaches mean to you

(BPT) - You've seen it in the headlines. Hundreds of data breaches, often at large corporations, happen every year - and consumers suffer the consequences.

Data breaches have become a constant reality of a connected world. Although many people choose to ignore the problem, you can take steps to defend yourself.

What is a data breach?

According to the U.S. Department of Justice, a data breach "includes the loss of control, compromise, unauthorized disclosure, unauthorized acquisition, access for an unauthorized purpose or other unauthorized access, to data, whether physical or electronic."

In other words, a breach occurs when a corporation, organization or institution is intentionally hacked or robbed, or inadvertently exposes information through a clerical or technical error. Data breaches aren't always due to malicious attacks. Sometimes they're the result of a mistake, but the consequences are still grave.

When a data breach occurs, confidential information, such as your Social Security number, bank account details, credit card numbers, personal health information or even wireless phone and utilities accounts are released.

In 2011, there were 855 data breach incidents, according to "2012 Data Breach Investigations Report" from Verizon Enterprise. In the past, corporations like Sony and Citibank have had the misfortune of experiencing such a crime. The real misfortune, however, is the victimization of the consumer.

Why should you care?

The odds are you'll be part of a breach sooner or later. The Verizon 2012 Data Breach Investigations Report cites 174 million compromised records in 2011.

Unfortunately, it's completely out of your hands. Let's say you do everything right on your end: shred documents, use secure websites, etc. You're still only as safe as your weakest link.

That weak link could be anywhere your personal information resides - at your doctor's office, employer, bank, favorite restaurant or even the place you got your hair cut last week. You may be doing a lot right, but what about everyone else?

The worst part is that victims of data breaches often become victims of identity fraud. According to a study done by Javelin Strategy and Research, "Data shows that consumers who received breach notifications in 2012 had a substantially higher risk of identity fraud - over 4 times higher - than those who didn't receive these notifications."

In addition, the Verizon 2012 Data Breach Investigations Report also shows that only eight percent of victims discover their own breaches. So 92 percent learn about it from a third party, but that can take weeks or months. The longer your information is out there undetected, the higher your risk for fraud.

If you do receive a letter, your information is out there for good. Even if you don't experience fraud immediately, you could later - several months or even years later. That's why it's important to take privacy seriously.

What can you do?

While companies continue to boost security in order to respond to this threat, here are a couple of ways you can strengthen your defense against data breaches.

* Do not provide your Social Security number unless it is absolutely necessary - simply ask if it's required.

* Never use your name, a child's or pet's name in your passwords.

* Create passwords with upper and lower case letters, non-sequential numbers and symbols. Change them at least quarterly.

* Do not use the same password for multiple accounts; this will minimize the damage in case your information is compromised.

* Review your bank statements monthly and your credit reports annually. Even if you haven't received a notification letter, you could already be a breach victim.

Above all, it's important to stay cautious. Data breaches might be an inevitable consequence of a connected, wireless culture, but that doesn't mean you should become complacent.

For more comprehensive protection from fraud, hire an identity theft protection service like LifeLock to monitor your personal information for misuse or exposure. For more information, visit LifeLock.com or call 1-800-LifeLock.

Keeping Your Bank Account Safe on the Internet

(NewsUSA) - Banking has never been easier -; you're now able to check balances and transfer money directly from a computer, or even a smartphone. However, despite precautions taken by your financial institution, online banking can be very dangerous. Cybercriminals create very sophisticated and threatening malware to target banking information for one simple reason: It's a cash cow. "It's pretty shocking how many ways cybercriminals can jeopardize or access your financial records," says Ann Biddlecom, Product Marketing Director for Kaspersky Lab, a leading developer of Internet security solutions. "For instance, if your computer or programs are infected, you could be led to a fake website posing as a legitimate site, but it hijacks your passwords and account numbers without you knowing. Or they can install a program that records the information you enter on your bank's website." More than 5,000 new malicious websites turn up every day, some of which are cleverly designed to mimic legitimate financial services websites. In fact, over a three-month period in 2012, Kaspersky Lab experts found more than 23,000 new malicious programs created to spy on your money. Studies show that 60 percent of all consumers shop and bank online, and one-third of those online shoppers store their banking details on their computers, so the risk of their financial data being intercepted has never been higher. Software like Kaspersky Internet Security has technology that can protect you, such as its Safe Money feature. This feature is designed to protect all of your financial transactions by verifying websites before launching them and restricts how other programs access your data. In addition to using software such as Kaspersky Internet Security, follow these steps to ensure you are the only person with access to your banking information: * Always decline automatic log-in for online banking sites. It's also important to never save the password for your bank on your browser. * Always remember to log out and close your browser window on your smartphone or laptop when finished with your online session. * If you receive an email from your bank asking for your account information, do not follow the link in the email. Type the URL of your bank as you normally would, or call your bank to verify the request. * Visit www.kaspersky.com to learn more about Safe Money and protecting your personal information.