Essential personal information to safeguard: Protect yourself from digital fraud
Taking extra measures to protect personal information and being aware of what information requires safeguarding is crucial in preventing identity theft and digital fraud.
During an appearance on NBS Morning Breeze, Patricia Amito, the Head of Communication and Corporate Affairs at Uganda Bankers Association, shared insights on the percentages of digital fraud. She mentioned that digital payment fraud accounts for 31% of fraud cases, while non-repayment of loans contributes to 25% of fraud incidents. Identity theft, impersonation, and cash suppression constitute 41% of the total fraud.
Joseph Fetta, Head of Products, Branches, and Alternate Channels at I&M Bank emphasized the importance of ensuring first and second-level authentication for digital transactions.
However, before delving into the authentication process, the initial step is understanding the personal information that needs safeguarding.
Taking extra measures to protect personal information and being aware of what information requires safeguarding is crucial in preventing identity theft and digital fraud.
Let's review this information to enhance your self-protection
Among the personal information considered "low risk" in terms of sensitivity are your full name, address, and phone number.
Information categorized as "medium" sensitivity includes your date of birth, place of birth, and mother's maiden name.
The most sensitive information that requires utmost protection includes your bank account numbers, social security number, PINs, credit card numbers, and passwords. Safeguard these jealously.
Other sensitive information that may attract identity thieves includes usernames, places of employment, medical records, employment history, residential history, children's names and dates of birth, and even anniversary dates.
Using strong and unique passwords is crucial for protecting your online information. Avoid using easily guessable passwords and incorporate numbers and symbols to enhance complexity.
Additionally, avoiding oversharing on social media platforms is important as this reduces the chances of someone taking advantage of your personal information.
Be cautious of using unprotected Wi-Fi networks, as fraudsters and hackers can use them to steal your information. Stick to secure Wi-Fi options instead of using different networks at random locations daily.
Stay vigilant against phishing emails and be aware of what to look for. In other words, never open a file sent by an unknown sender.
Understanding the sensitivity of your data and taking necessary precautions to protect it is vital. Let's strive to be steady and better at safeguarding our personal information. Beera Steady - Be Better!
