Secure Computer Practices to Protect Your Personal Finances from Identity Thieves

The onset of a recession is causing some people to try to get more income by any means possible. Although this is a great motivational tool for people when this is done ethically and legally, it can also be very negative when illegal means are used to increase one's income. Due to the dire situations (banks failing, credit crunch, etc) of our economy, there are many opportunities forscammers and thieves to try to take advantage of the average consumer.

To the average computer user, security is not a top priority. It is simple for most users, turn the computer on, read a few emails, pay a couple of bills, browse a few websites, turn the computer off. Although this seems like a relatively simple and safe thing to do with every day computing, statistics show that over 15 million Americans are victim of identify theft every year. (Citation)
With these circumstances, it is extra important for people to become vigilant to protect their assets as well as identity.

Things to Protect Yourself From While Online

1. Spamming: the abuse of electronic messaging systems to indiscriminately send unsolicited bulk messages. (Cited From Wikipedia)
2. Phishing: The criminally fraudulent process of attempting to acquire sensitive information such as usernames, passwords and credit card details, by masquerading as a trustworthy entity in an electronic communication. (Cited From Wikipedia)
• Ways to Spot a Phishing Attempt
  
3. Malware: a portmanteau word from the words malicious and software, is software designed to infiltrate or damage a computer system without the owner's informed consent. (Cited From Wikipedia)

Types of Malware

1. Virus: a [malicious] computer program that can copy itself and infect a computer without permission or knowledge of the user. (Cited From Wikipedia)
2. Trojan Horse: Malware that appears to perform a desirable function but in fact performs undisclosed malicious functions. (Cited From Wikipedia)
3. Spyware: Computer software that is installed surreptitiously on a personal computer to intercept or take partial control over the user's interaction with the computer, without the user's informed consent. (Cited From Wikipedia)
   

Although there are a lot of malicious things out there to try to compromise your security, securing your computing is not an impossible. Below are some easy ways to prevent your identity from being compromised online:

Ways to Prevent Your Identity from being Compromised

1. Passwords
• Choose a password that is at least 8 characters in length. If allowed, a combination of upper and lower case letters, numbers and symbols.
• Never store your passwords in a public place accessible by many. (Good idea to keep it in a wallet or purse, bad idea to keep it on a sticky note on your work monitor)
  
2. Delete Spam
• Use the built-in spam filters of your email provider.
  
• Be sure to report obvious spam to increase the accuracy of the spam filter being used.
  
3. Use Encryption (https) when possible.
• Most reputable companies that require you to do any kind of online transaction usually support encryption.
4. Use caution when on public wireless access points.
• Wireless access points transmits unencrypted network traffic in plain text. That means Instant Messaging, email, web traffic and any other transmitted information can read by someone using a network sniffer.
• If at all possible, always try to encrypt your network traffic (using https) or use caution and refrain from transmitting sensitive information while connected to a wireless access point.
  
5. Security Software
1. Anti-Virus software will help protect the integrity of your computer and check the files located on them for any malicious programs. Below are recommended free anti-virus software.
   
• Avast
• AVG
  
2. Firewall software will allow for you to make sure no unsolicited connections will be allowed on your computer preventing unauthorized access to your files and personal information. Below are some recommended firewalls:
• Built-In Windows Firewall (Windows XP and Vista)
  
• Comodo Firewall
  
3. Spyware Removal
• Adaware
• Spybot
  
4. Browser Protection consists of programs used to identify false websites that may try to portray a legitimate site
   
• No Script
• Automatic phishing detection (Internet Explorer 7 and Mozilla Firefox )
  
6. Monitor Credit Reports
• The government has mandated that all consumers be allowed to receive at least one credit report for free from all the credit reporting bureaus (Equifax, TransUnion and Experian)
  
• The only free (without any strings attached) credit report can be acquired from Annual Credit Report.
  
7. Keep your Operating System up to date
• Microsoft constantly finds new vulnerabilities in their software that can allow a malicious user to access your computer without any authorization. They release security software updates at least once a month to fix these vulnerabilities and close these holes.
  

It is impossible to eliminate your risk of identity theft when using the your computer on the Internet however, using the recommendations above, you can reduce the likelihood of your identity being stolen. What are some of the ways you protect you identity when using your computer?

Stay Disciplined!