From digital data breaches to cyberattacks, criminals are leveraging tech to their advantage in many ways. Because today’s consumers rely on technology to make purchases, interact with others, and work, protections must be in place to ensure that personal information is not stolen and abused.
Learning more about how criminals use technology is one way to determine the protection methods you need to stay safe. While criminals can use tech to steal personal information or funds, innovations are also being created to protect consumers. Below are a few key elements that will assist consumers in protecting online accounts, avoiding hacking scenarios, and hopefully preventing data breaches.
Biometric Authentication
One secure way to protect online accounts is biometric authentication. A fingerprint scan or face detection will ensure only you can access your accounts. Banks, online casinos, and other institutions commonly use this authentication method to ensure protection against security breaches.
One example of how this can come in handy involves online casinos in the US. In the fall of 2023, MGM Resorts International was subject to a cyberattack, which led to a major data breach. MGM operates land-based and online casinos, and consumers of both sectors were affected.
The company lost $100 million in the attack, and stolen data affected many consumers. MGM operates the BetMGM brand, which includes additional layers of security for its players. Due to two-factor authentication and biometric authentication, many members were able to prevent others from accessing their online accounts.
Without these methods in place, hackers would have been able to access online casino accounts. These accounts include personal information that could have been used in nefarious ways, or the hackers could have played games and spent money that was not theirs.
Identification Checks
If a data breach occurs, consumers can easily be targeted. This is why more companies, including major retailers, online casinos, and banking institutions, are requiring identification checks. The process may vary per company, but the end goal is the same: to protect your personal information.
Some companies may require you to use a mobile code to confirm your account when logging in or an email check. This small step of verification confirms your identity. Some companies still use security questions, but many are replacing them with facial or fingerprint scans.
As technology advances, we have more ways to secure our accounts if data breaches occur. Consumers must complete identity checks correctly to add that extra layer of protection. If you can opt-out or use such verification methods, always choose the latter.
Phishing Scams
Cybercriminals are also still using phishing scams to defraud patrons of their personal information. The elderly are major targets as they have less knowledge of how online operations work. The criminals will state they are from a mortgage company, bank, internet service provider, major retailer, or even an online casino or sweepstakes gaming site.
Victims of phishing scams may unknowingly provide sensitive information, such as passwords, banking details, or social security numbers. Never send out such information, as real companies will not request this type of information via email.
Once a criminal organization has your information, it can easily use it to its advantage. Consumers must stay vigilant and help elderly family members or friends understand the difference between a legitimate email and a phishing scam.
Protect Your Accounts Based on Patterns
With technological advances, new methods of protection are under development. One way companies are keeping track of potential threats is pattern behavior. Have you ever noticed that your credit card company calls you if a charge was made while you are out of town? This is due to a break in your pattern of behavior.
The change alerted the credit card company, and they reached out to make sure it was you who was spending. New technology from companies like BioCatch can help with pattern behavior to ensure consumers are not victims of hackers or identity theft.
BioCatch has created a unique algorithm based on the way consumers enter information and access accounts. BioCatch helps consumers maintain consistent behavior. Any break in common behavior is detected, and the appropriate company is alerted.
This allows extra security measures to ensure your personal information is protected. As similar technologies are created in the future, behavior patterns and other factors can easily be used to detect issues before they become major problems.
