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Tapping your phone at the cash register makes for a smooth trip to the store. Far smoother than fumbling for your card at the checkout or dealing with a bunch of change. That’s the beauty of the digital wallet on your phone. And with that convenience comes something plenty important — keeping that digital wallet secure.
All the personal info, photos, and banking apps we already have on our phones already make them plenty valuable. A digital wallet makes them that much more valuable.
A few steps can keep your phone and digital wallet more secure. Further, other steps can protect your cards and identity if that phone gets lost or stolen.
Let’s start with a look at how digital wallets work.
For starters, digital wallets work much like a physical wallet. Through service apps like Apple Pay, Google Pay, Samsung Pay, PayPal, and others, you can store various payment types. That includes debit cards, credit cards, gift cards, and bank accounts.
The transaction is highly secure in general. When you use your digital wallet to make a purchase, the app creates a random ID for the transaction. It uses that ID rather than your actual account number to keep things secure. Encryption technology keeps things safer still by scrambling info during the process.
A digital wallet is safe, as long as you guard your smartphone just as closely as you would your physical wallet.
Here’s why you should secure your digital wallet and three tips to help you do so.
Fewer people use a lock screen than you might think. A finding from our global research showed that only 56% of adults said that they protect their smartphone with a password or passcode.[i] The problem with going unlocked is that if the phone gets lost or stolen, you’ve handed over a large part of your digital life to a thief. Setting up a lock screen is easy. It’s a simple feature found on iOS and Android devices.
Always protect your digital wallet with a lock, whether a unique passcode, fingerprint scan, or facial ID. This is the best and easiest way to deter cybercriminals. If you use a numerical code, make it different from the passcode on your phone. Also, make sure the numbers are random. Birthdays, anniversaries, house addresses, and the last digits of your phone number are all popular combinations and are crackable codes to a resourceful criminal.
Another way to secure your digital wallet is to make sure you always download the latest software updates. Developers are constantly finding and patching security holes, so the most up-to-date software is often the most secure. Turn on automatic updates to ensure you never miss a new release.
Before you swap your plastic cards for digital payment methods, ensure you research the digital banking app before downloading. Also, ensure that any app you download is through the official Apple or Android store or the financial institution’s official website. Then, check out how many downloads and reviews the app has. That’s one way you can make sure you’re downloading an official app and not an imposter. While most of the apps on official stores are legitimate, it’s always smart to check for typos, blurry logos, and unprofessional app descriptions.
So what happens if your phone ends up getting lost or stolen? A combination of device tracking, device locking, and remote erasing can help protect your phone and the data on it. Different device manufacturers have different ways of going about it, but the result is the same — you can prevent others from using your phone. You can even erase it if you’re truly worried that it’s in the wrong hands or if it’s gone for good. Apple provides iOS users with a step-by-step guide, and Google offers up a guide for Android users as well.
No doubt about it. Our phones get more and more valuable as the years go by. With an increasing amount of our financial lives coursing through them, protecting our phones becomes that much more important.
Comprehensive online protection like our McAfee+ plans can protect your phone. And it can protect something else. You. Namely, your privacy and your identity. Here’s a quick rundown: It can …
Protection like this is worth looking into, particularly as our phones become yet more valuable still thanks to digital wallets and payment apps like them.
[i] https://www.mcafee.com/content/dam/consumer/en-us/docs/reports/rp-connected-family-study-2022-global.pdf
The post How to Secure Your Digital Wallet appeared first on McAfee Blog.
People under 60 are losing it online. And by it, I mean money—thanks to digital identity theft.
In its simplest form, your digital identity is made up of a whole host of things that can be traced back to you and who you are. That can range anywhere from photos you post online to online shopping accounts, email accounts to telephone numbers, and bank accounts to your tax ID.
In this way, your digital identity is like dozens upon dozens of puzzle pieces made up of different accounts, ID numbers, and so forth. When put together, they create a picture of you. And that’s why those little puzzle pieces of your identity are such attractive targets for hackers. If they get the right combination of them, you can end up a victim of theft or fraud.
Here’s what’s happening: people under 60 were twice as likely to report losing money while shopping online. The spotlight also shows that adults under 60 are more than four times more likely to report losing money to an investment scam, and the majority of those losses happened in scams involving some form of cryptocurrency investments.
And it’s no surprise younger adults get targeted this way. They’re far more likely than any other age group to use mobile apps for peer-to-peer payments, transfer money between accounts, deposit checks, and pay bills. In short, there’s a lot of money flowing through the palms of their hands thanks to their phones, as well as their computers.
Protecting yourself from hackers and fraud means protecting your digital identity. And that can feel like a pretty huge task given all the information your digital identity includes. It can be done, though, especially if you think about your identity like a puzzle. A piece here, another piece there, can complete the picture (or complete it just enough) to give a hacker what they need to separate you from your money. Thus, the way to stay safe is to keep those puzzle pieces out of other people’s hands.
It’s actually not that tough. With a few new habits and a couple of apps to help you out, you can protect yourself from the headaches and flat-out pain of fraud. Here’s a list of straightforward things that you can get started on right away:
1. Start with the basics—security software
Protect yourself by protecting your stuff. Installing and using security software on your computers and phones can prevent all kinds of attacks and make you safer while you surf, bank, and shop online. I should emphasize it again—protect your phone. Only about half of people protect their phones even though they use them to hail rides, order food, send money to friends, and more. Going unprotected on your phone means you’re sending all that money on the internet in a way that’s far, far less safe than if you use online protection.
2. Create strong passwords
You hear this one all the time and for good reason—strong, unique passwords offer one of your best defenses against hackers. Never re-use them (or slight alterations of them) across the different platforms and services you use. Don’t forget to update them on the regular (that means at least every 60 days)! While that sounds like a lot of work, a password manager can keep on top of it all for you. And if your platform or service offers the use of two-factor authentication, definitely make use of that. It’s a further layer of security that makes hacking tougher for crooks.
3. Keep up to date with your updates
Updates have a way of popping up on our phones and computers nearly every day, resist the urge to put them off until later. Aside from making improvements, updates often include important security fixes. So, when you get an alert for your operating system or app on your devices, go ahead and update. Think of it as adding another line of defense from hackers who are looking to exploit old flaws in your apps.
4. Think twice when you share
Social media is one place hackers go to harvest personal information because people sometimes have a way of sharing more than they should. With info like your birthday, the name of your first school, your mother’s maiden name, or even the make of your first car, they can answer common security questions that could hack into your accounts. Crank up the privacy settings on your accounts so only friends and family can see your posts—and realize the best defense here is not to post any possibly sensitive info in the first place. Also, steer clear of those “quizzes” that sometimes pop up in your social feeds. Those are other ways that hackers try to gain bits of info that can put your identity at risk.
5. Shred it
Even though so many of us have gone paperless with our bills, identity theft by digging through the trash, or “dumpster diving,” is still a thing. Things like medical bills, tax documents, and checks still might make their way to your mailbox. You’ll want to dispose of them properly when you’re through with them. First, invest in a paper shredder. Once you’ve online deposited that check or paid that odd bill, shred it so that any personal or account info on there can’t be read (and can be recycled securely). Second, if you’re heading out of town for a bit, have a friend collect your mail or have the post office put a temporary hold on your mail. That’ll prevent thieves from lifting personal info right from your mailbox while you’re away.
6. Check your credit
Even if you don’t think there’s a problem, go ahead and check your credit. The thing is, someone could be charging things against your name without you even knowing it. Depending on where you live, different credit reporting agencies keep tabs on people’s credit. In the U.S., the big ones are Equifax, Experian, and TransUnion. Also in the U.S., the Fair Credit Reporting Act (FCRA) requires these agencies to provide you with a free credit check at least once every 12 months. Canada, the UK, and other nations likewise offer ways to get a free credit report. Run down your options—you may be surprised by what you find.
As I just mentioned, the quickest way to get sense of what’s happening with your identity is to check your credit. Identity theft goes beyond money. Crooks will steal identities to rent apartments, access medical services, and even get jobs. Things like that can show up on a credit report, such as when an unknown address shows up in a list of your current and former residences or when a company you’ve never worked for shows up as an employer. If you spot anything strange, track it down right away. Many businesses have fraud departments with procedures in place that can help you clear your name if you find a charge or service wrongfully billed under your name.
Other signs are far more obvious. You may find collection agencies calling or even see tax notices appearing in your mailbox (yikes). Clearly, cases like those are telltale signs that something is really wrong. In that case, report it right away:
Likewise, many nations offer similar government services. A quick search will point you in the right direction.
Another step you can take is to ask each credit bureau to freeze your credit, which prevents crooks from using your personal information to open new lines of credit or accounts in your name. Fraud alerts offer another line of protection for you as well, and you can learn more about fraud alerts here.
With so many bits and pieces of information making up your digital identity, a broader way of keeping it safe involves asking yourself a question: what could happen if someone got their hands on this info? Further realizing that even little snippets of unsecured info can lead to fraud or theft in your name helps—even that un-shredded bill or innocuous refund check for a couple of bucks could give a crook the puzzle piece they need. You can keep your digital identity safe by keeping those pieces of info out of other people’s hands.
The post How to Protect Your Digital Identity appeared first on McAfee Blog.
Throw open the windows and let in some fresh air. It’s time for spring cleaning.
And that goes for your digital stuff too.
Whether it’s indeed spring where you are or not, you can give your devices, apps, and online accounts a good decluttering. Now’s the time. Cleaning them up can protect your privacy and your identity because when there’s less lying about, there’s less for hackers to scoop up and exploit.
The reality is that we accumulate plenty of digital clutter that needs cleaning up from time to time. Think about it:
Together, these things take up space on your devices and, in some cases, can open you up to security hazards. Let’s take a look at how you can clean up in a few steps.
1. Review your accounts and delete the ones you don’t use. Look through your bookmarks, your password manager, or the other places where you store your passwords and usernames. Review the sites and services associated with them critically. If you haven’t used an account in some time, log in one last time, remove all personal info, and deactivate it.
Doing so can keep your email address, usernames, and passwords out of unnecessary circulation. Major breaches like this one happen with unfortunate regularity, and the sad thing is that you may not even be aware that a site you’ve used has been hit. Meanwhile, your name, password, and info associated with that account (such as your credit card) are in the hands of hackers. Limit your exposure. Close those old accounts.
2. Get organized, and safer too, with a password manager. While creating strong, unique passwords for each of our accounts is a must nowadays, it can be quite the feat, given all of the accounts in our lives. Here’s where a password manager comes in. It can create those strong, unique passwords for you. Not only that, but it also stores your passwords on secure servers, away from hackers and thieves.
Along those lines, never store your passwords on your computer or device, like a text document or spreadsheet. Should your device ever get compromised, lost, or stolen, having passwords stored on them are like handing over the keys to your digital life.
3. Clean your PC to improve your performance (and your security). Let’s face it, so many of us are so busy with the day-to-day that cleaning up our computers and laptops is way down the list. However, doing so once a month can keep our devices running stronger for longer and even give you that “new computer feeling,” particularly if you haven’t cleaned it up for some time. Check out our guide for improving PC performance. We will walk you through some straightforward steps that can make a marked difference.
Moreover, part of this process should entail bolstering your operating system and apps with the latest updates. Such updates can not only improve speed and functionality, but they also often include security upgrades as well that can make you safer in the long run. If your operating system and apps feature automatic updates, enable them, and they’ll do the work for you.
4. Organize and store your photos. Photos. Now there’s a topic all unto itself. Here’s the thing: Estimates show that worldwide we took somewhere around 1.2 trillion photos. And you certainly have your share.
However, your photos may be just sitting there, taking up storage space on your computer or phone, instead of becoming something special like an album, greeting cards, a wall hanging, or popping them into a digital picture frame for your kitchen or living room. And this is where a little spring cleaning can be a bit of fun. For tips on cleaning up your photos, backing them up, and making something special with them.
5. Delete old apps and the data associated with them. Let’s say you have a couple of apps on your phone for tracking your walks, runs, and exercise. You’ve since stopped using one altogether. Go ahead and delete the old one. But before you do, go in and delete your account associated with the app to ensure that any data stored off your phone, along with your password and user id are deleted as well.
For your computers and laptops, follow the same procedure, recognizing that they also may have account data stored elsewhere other than on your device.
In short, many apps today store information that’s stored and maintained by the app provider. Make sure you close your accounts so that data and information is taken out of circulation as well.
6. Shred your old files and encrypt the important files you’re holding on to. This bit of advice calls for using comprehensive security software on your devices. In addition to protecting you from viruses, malware, and other cyberattacks on your privacy and identity, it can help you protect your sensitive information as well. Such security software can offer:
7. Throwing away old computers and tech—dispose of them properly. When it comes time to say goodbye to an old friend, whether that’s a computer, laptop, phone, or tablet, do so in a way that’s friendly to the environment and your security.
Consider this … what’s on that old hard drive of yours? That old computer may contain loads of precious personal and financial info on it. The same goes for your tablets and phones. The Federal Trade Commission (FTC) offers some straightforward advice in their article about protecting your data before you get rid of your computer. You don’t want those old tax returns ending up in the trash unprotected.
When it comes time for disposal, you have a few options:
As with any spring cleaning, you’ll be glad you did it
Enjoying the benefits of your work—that’s what spring cleaning is all about, right? With this little list, you can end up with a digital life that’s safer and faster than before.
The post Digital Spring Cleaning: Seven Steps for Faster, Safer Devices appeared first on McAfee Blog.
While we’re enjoying all the good things in our digital lives—our eBooks, movies, email accounts, social media profiles, eBay stores, photos, online games, and more—there’ll come a time we should ask ourselves, What happens to all of this good stuff when I pass away?
Like anything else we own, those things can be passed along through our estates too. Some of it, anyway.
With the explosion of digital media, commerce, and even digital currency too, there’s a very good chance you have thousands of dollars of digital assets in your possession. For example, we can look at research we conducted in 2011 which found that people placed an average value of $37,438 on the digital assets they owned at the time. Now, with the growth of streaming services, digital currency, cloud storage, and more in the past decade, that figure feels conservative.
Enter the notion of a digital legacy, the way you can catalog your digital assets and prepare to pass them through your estate.
Like so many aspects of digital life nowadays, estate planning law has started to catch up to the new realities of life online. However, attorneys, executors, and heirs still face some challenges when dealing with an estate and its digital assets. In the U.S., new laws are rolling out that address how digital assets are treated when the owner passes away. For example, they give fiduciaries (like an estate executor, trustee, or an agent under a power of attorney) the right to manage a person’s digital assets if they already have the right to manage a person’s tangible assets. Such laws continue to evolve, and they can vary from state to state here in the U.S.
With that in mind, nothing offered in this article is legal advice, nor should it be construed as such. For legal advice, you can and should turn to your estate attorney for counsel on the best approach for you and the laws in your area. However, consider this article as a sort of checklist that can help you with your estate planning.
Whether your assets have real or sentimental value, you can prepare your estate for the ones you care about.
The best answer you can get to this question will come from your legal counsel. However, for purposes of discussion, a digital asset is any text or media in digital form that has value and offers the bearer with the right to use it.
To frame it up in everyday terms, let’s look at some real-world examples of digital assets that quickly come to mind. They include, but aren’t limited to:
However, digital assets can readily expand to further include:
And as far as your estate is concerned, you can also consider:
That’s quite the list, and it’s not entirely comprehensive, either.
The process of lining up your digital assets begins just like any other aspect of estate planning. List all the digital assets and accounts you own.
From there, you can see what you have and what you’d like to distribute—and what you can distribute. In fact, when it comes to digital, there are some things you can’t pass along. Let’s take a closer look.
Generally speaking, digital assets that you own can be passed along. “Own” is the operative word here. Many digital things we have are in fact licensed to us, which aren’t transferrable. More on that next, yet examples of things you can likely transfer include:
Check with your legal counsel to ensure you’re following the letter of the law in your region. Also look into any licensing agreements you might have for items like internet domain names and airline miles that you have. Sometimes you can transfer these. In other cases, you can’t. Your legal counsel can help determine if they are in fact transferrable.
Transfer is an important topic. As mentioned above, some accounts you hold are licensed to you and you alone. So, they will not transfer. Two of the biggest examples are social media and email accounts. This can have serious repercussions if you don’t leave specific instructions as to how those accounts should be handled after your passing.
For example, do you want your social media profiles to remain online as a memorial or do you want them simply shut down? Note that different social media platforms have different policies for handling the accounts of users who have passed away. For example, Facebook allows for creating memorialized accounts that allow friends and families to continue sharing memories. Policies vary, so check with your social media platforms of choice for specifics.
Likewise, will your executor need access to your email account to handle the estate’s affairs? And what about access to online accounts for paying bills and then ultimately closing those accounts? In all, these are points of discussion to have with an experienced estate attorney who knows the law in your region.
Other things to be aware of are that subscriptions to streaming accounts are likely non-transferrable as well. Often, eBooks and digital publications you own are only licensed to you as the sole owner and can’t be transferred. Check the agreements linked with items like these and have a talk with your attorney about them to determine what can and can’t be done with them.
Another aspect of your digital legacy is your voice. If you’re a blogger or a participant in an online community, you might wish for a fiduciary or family member to leave a farewell post. Additionally, in the case of a blog, you might want to set up some means for your work to stay online or get archived in some manner. Again, you can work with your attorney to leave specific instructions.
You can’t pass assets along if an executor can’t get access to them. A real-life example shows why digital executorship is so vital. Consider the story of the woman who lost family photos after her husband passed away. He kept them in an online storage account to which she had no access. And sadly, the company wouldn’t grant her access after his passing.
This is often the case with many online accounts and services. Legally speaking, the deceased might own the storage account and the media kept within it, yet the cloud storage company owns the servers on which that media is stored. Access by someone other than the deceased might constitute a breach of their privacy policy or user agreements.
One way you can avoid heartbreak like this is to discuss giving your executor access to your accounts. You can consider creating a list of accounts, usernames, and passwords in a sealed letter with instructions that outline your wishes. A sealed letter is important: a will is a public record after you pass away. A separate, sealed letter is not, which makes it a safe place to pass along account information. Again, you can discuss an option such as this with your attorney.
One thing you can do today that can protect your digital assets for the long haul is to use comprehensive security protection. Far more than just antivirus, comprehensive security can store precious and important files securely with encryption, arm all your online accounts with strong passwords, and protect your identity as well. Features like these will help you see to it that your digital legacy is secure.
When the idea of a digital estate plan comes up, a light might go on in your head. “Of course, that makes a lot of sense.” It’s easy to take our digital possessions somewhat for granted, perhaps in a way that we don’t with our physical possessions. Yet as you can see, there’s a good chance that you indeed have a digital legacy to pass along. By getting organized now, you can see to it that your wishes are followed. This checklist can help you get started.
The post How To Protect Your Digital Estate appeared first on McAfee Blog.
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