Exploring What Cybercriminals Do With Your Stolen Data (And How You Can Protect Yourself)
From identity theft to financial fraud, we all know the misuse of stolen data can have devastating consequences – but what exactly are those consequences? What do cybercriminals actually do with your stolen data?
Oliver from CyberNut explains what criminals use stolen data for and provides essential proactive measures to help you remain vigilant against data theft.
How Do Cybercriminals Use Your Stolen Data?
When cybercriminals gain unauthorized access to sensitive data through a breach, they exploit this information in various nefarious ways:
Identity Theft
With access to personal details like names, addresses, and social security numbers, cybercriminals can assume victims’ identities, wreaking havoc on their financial lives and reputations. Oliver says, ‘For instance, a hacker may use stolen data to open fraudulent credit card accounts or apply for loans in your name.’
Financial Fraud
Stolen credit card numbers and banking details are often sold on underground forums or used to make unauthorized purchases. Victims may suddenly face unexpected charges or drained bank accounts, resulting in significant financial losses.
Targeted Phishing Scams
Oliver warns, ‘Armed with stolen email addresses and personal data, cybercriminals craft sophisticated, personalized phishing emails designed to deceive you into divulging sensitive information or downloading malware.’ For example, a scam email masquerading as a bank notification may contain your personal details to convince you it’s legitimate. These phishing emails prompt you to click on malicious links or provide login credentials, further compromising your accounts.
Dark Web Trade
The dark web is a thriving marketplace for stolen data, where cybercriminals buy and sell personal information, credit card numbers, and login credentials. This underground economy fuels a cycle of exploitation and fraud.
Oliver’s Proactive Measures For Protection
Oliver recommends the following proactive steps to safeguard your data:
Change Your Passwords On A Regular Schedule
You should change your passwords often – setting a reminder on your phone or computer will help you remember. Choose strong, unique passwords that combine uppercase and lowercase letters, numbers, and special characters. Oliver recommends, ‘Avoid using easily guessable passwords or reusing passwords across multiple accounts. For example, if your email account is compromised, having a similar password for your bank account will make it easy for hackers to crack that as well.’
Keep An Eagle Eye On Your Financial Accounts
Regularly monitor your bank statements, credit card transactions, and credit reports for any signs of suspicious activity. Look out for unfamiliar charges, unauthorized withdrawals, or inquiries on your credit report that you didn’t initiate. Report any discrepancies to your financial institution and request a freeze on affected accounts to prevent further unauthorized access.
Invest In Identity Theft Protection
Enroll in reputable identity theft protection services that offer credit monitoring, identity theft resolution assistance, and alerts for suspicious activity. Oliver comments, ‘Services like LifeLock or IdentityForce provide comprehensive identity theft protection plans, including credit monitoring, dark web surveillance, and identity restoration services.’
Engage Enhanced Security Measures
Implement additional security measures to fortify your digital defenses and protect against future breaches. This may include regularly updating security software and operating systems, using virtual private networks (VPNs) when accessing public Wi-Fi networks, and being cautious about sharing personal information online. ‘Invest in reputable antivirus software, firewall protection, and anti-malware tools to detect and prevent malicious threats,’ says Oliver.
Oliver emphasizes, ‘By staying informed, changing your passwords, monitoring your accounts, and employing proactive security measures, you can minimize the risk of falling victim to cyber threats and protect yourself from further exploitation.’
About CyberNut
CyberNut is a security awareness training solution built exclusively for schools. CyberNut’s automated campaigns train your school’s faculty, staff, & students to recognize and report the phishing emails and deep fake Al scams that are targeting your school district, making CyberNut the easiest and the most painless security awareness training solution to implement and manage for school IT departments.
