Most companies rely on the internet for daily operations. But what would you do if you lost access to it for a day? How would your business be affected if your digital identity were stolen or compromised? As a business owner, understanding the risks of digital identity theft is essential to protecting your organization. Below you will find explanations on what digital identity theft is, the significant risks, and how you can guard against it.
WHAT IS DIGITAL IDENTITY THEFT AND WHY DOES IT MATTER?
Digital identity theft occurs when someone uses your online identity to pose as you. This can lead to fraudulent purchases, reputational damage, and exposure of sensitive business information. It can also open the door to broader attacks on your systems. The consequences are serious and can be costly to repair, so prevention should be a top priority.
COMMON THREATS TO YOUR DIGITAL IDENTITY
PHISHING AND SMISHING
Phishing attempts often arrive via email, but text message scams, also called smishing, are rising sharply. Attackers send fake delivery notices, payment alerts, or “wrong number” texts to trick you into clicking malicious links. The Federal Trade Commission recently reported that Americans lost hundreds of millions of dollars in text-based scams in the past year. Train employees to recognize these scams and report them immediately.
VISHING
Vishing, or voice phishing, involves fraudulent phone calls that impersonate banks, government agencies, or tech support. Callers may pressure you to change passwords, payment information, or other sensitive data. Verify any suspicious calls independently and avoid giving out information over the phone unless you initiated the contact.
RANSOMWARE AND IDENTITY RANSOM
Ransomware attacks can lock down your systems or encrypt your files until you pay. Increasingly, criminals also threaten to release stolen personal or business data unless a ransom is paid. These attacks can be devastating for organizations that lack secure backups or incident response plans.
SIM SWAPPING
In a SIM swap scam, criminals take over your phone number to intercept calls and text messages, often to gain access to accounts with SMS-based two-factor authentication. Contact your mobile provider to add extra security measures to your account.
HOW TO PROTECT YOUR DIGITAL IDENTITY
Strong protection comes from a combination of technology, training, and vigilance. Key strategies include:
- Use a Virtual Private Network (VPN): Use a VPN to help protect your information. This is a way for you to encrypt your internet traffic, especially when working remotely or in public spaces.
- Education and Training: Train employees to recognize phishing, vishing, and smishing attempts, and create clear reporting procedures.
- Software and Hardware Updates: Keep all software and hardware updated to close known security gaps.
- Enforce Strong Password Policies: Use a mix of letters, numbers, and symbols when creating a password.
- Enable Multi-Factor Authentication: Use app-based or hardware tokens instead of SMS codes when possible on all important accounts.
- Leverage Exact IT’s Tools and Courses: Use the email phishing training & analysis tool to help your team identify malicious emails effectively. Additionally, the ransomware training course is available to educate your staff on prevention and response.
PRIVACY PRECAUTIONS WHILE TRAVELING
Travel can make you more vulnerable to cyber threats. Avoid connecting to public Wi-Fi networks without a VPN, and be cautious about what information you share while away from your usual work environment. Disable auto-connect settings on devices to prevent them from joining unfamiliar networks without your approval. If possible, use your phone’s hotspot instead of public internet.
HOW TO RECOVER FROM A DATA BREACH OR HACKING INCIDENT
If a data breach occurs, act quickly. Identify which systems and files are affected, restore from clean backups, and isolate compromised devices. Notify relevant authorities, financial institutions, and stakeholders. Professional IT support, like that offered by Exact IT, can help contain the damage and guide you through the recovery process.
PARTNERING WITH CYBERSECURITY PROFESSIONALS
Working with an experienced IT consulting firm provides access to ongoing security training, proactive monitoring, and rapid incident response. Exact IT Consulting provides services tailored to help your business make informed, long-term technology decisions that maintain a secure digital identity.
