6 Ways to Protect Your Identity Online

Aug 6

Ready to amp up your online security? Protecting your online identity isn't just about privacy, it's about your financial wellbeing. In 2025 alone, global costs are projected to hit staggering $10.5 trillion, costing unsuspected victims over $330,000 per second. These figures are only expected to climb, reaching $12.5 trillion by 2031.1 Understanding and staying safe online is absolutely crucial.

1. Creating strong passwords and implementing two-factor authentication.

You should think of your password as your first line of defense. Sadly, statistics show that 30% of internet users have experienced a data breach due to a weak password.2 Aim for passwords that are long, random, and truly unique – think at least 16 characters.3

Additionally, two-factor authentication (2FA) adds a crucial layer of security. This requires you to verify your identity using two different methods, such as a password combined with a code sent to your phone or even a quick biometric scan. Enable 2FA on all your accounts whenever possible. It’s a game changer! 4

2. Outsmarting sneaky phishing scams!

Phishing scams are deceptive attempts by criminals to trick you into revealing sensitive information or granting them access to your accounts, often through suspicious emails or texts. Here’s how to stay one step ahead:

Don’t click on suspicious links or download attachments from someone you don’t know.
Utilize spam filters to help weed out junk mail.
Remember 2FA? It’s your secret weapon against phishing too! Even if scammers get your password, 2FA makes it much harder for them to access your accounts.5

3. Keep your software shipshape.

Think of software updates as vital security patches. Cybercriminals are always looking for weaknesses in outdated systems. So, make it a habit to regularly update your operating system, web browsers, and all security software (including firewalls and antivirus programs). Staying up to date helps you stay ahead of those pesky threats.

4. Turn off location sharing, especially on social media.

Most internet-enabled devices have a locationsharing feature. While they’re great for things like catching rideshares and having your groceries delivered, be sure you’re not advertising where you are, especially on social media. Location-sharing leaves you vulnerable to burglars actually troll habitually troll social media sites looking for posts about people taking vacations or going out of town. Once they know the house will be empty, it’s an open invitation. So, routinely check your device and app settings and make sure location sharing is turned off when you don’t absolutely need it.

5. Make a habit of logging out (Seriously!)

It's so tempting to hit that "keep me signed in" button, right? But the more you do, the more opportunities hackers have to "sniff" the cookies your device uses to recognize you and grab your credentials. Make sure you:

Visit the websites and apps you use most often.
Look for a "security" tab or section, then "find devices" or "manage devices."
Remove your credentials as needed from the list of where you're currently logged in.
Be safe: close your apps and lock your device when you step away.

6. Develop a personal contingency plan.

Even with the strongest defenses, breaches can occur. It's always wise to prepare for the worst-case scenario. If you suspect your identity has been compromised:

Immediately report it to the Federal Trade Commission (FTC). They’re there to help!
Have a recovery plan in place. This includes tracking your progress, notifying credit bureaus, and corresponding with businesses and debt collectors as needed. 6

Stay Safe!

Protecting your online identity is an ongoing process, not a one-time task. By implementing these practical strategies, they can help significantly reduce your risk of becoming a cybercrime victim.

Investing involves risk, including the potential loss of principal. The information provided is for general educational and informational purposes only and is not intended to serve as specific financial, investment, or tax advice. Individual circumstances vary, and you should consult with a qualified financial or tax professional before making any financial decisions.