The internet has revolutionized our lives, offering unparalleled convenience through online shopping, banking, and entertainment. However, with this convenience comes significant risk: our personal data is more vulnerable than ever. Many experts believe it’s not a question of if, but when, your data will end up on the dark web. In this blog post, we'll explore the dark web, the risks it poses, and how you can protect your identity.
Understanding the Dark Web
The dark web is a part of the internet that isn’t accessible through standard search engines and requires specialized browsers to access. This hidden section has become a haven for cybercriminals, who buy and sell stolen personal data. Privacy Affairs’ Dark Web Price Index 2023 reports that a hacked credit card with the security code sells for merely $30 USD, while online banking logins for accounts with at least $2,000 USD go for as little as $60 USD.
How Your Data Ends Up on the Dark Web
Your data can be compromised in various ways. While companies are required by law to notify you if your information is stolen in a data breach, this is not the only risk. Simple actions, like using unsecured Wi-Fi to log into your banking app, can leave you exposed to hackers.
Knowing If Your Data Has Been Compromised
To find out if your data is on the dark web, consider using a dark web monitoring service. For instance, Equifax Complete™ products offer a WebScan feature that looks for the personal information you provide and alerts you if it’s found.
Steps to Take If Your Data Is Compromised
If your data appears on the dark web, removing it can be nearly impossible. Nevertheless, you can take several steps to protect your identity and financial future:
- Contact the Authorities
Report any suspected data theft or fraud to the Canadian Anti-Fraud Centre, your local police department, and the national credit reporting agencies (Equifax and TransUnion).
- Change Your Passwords
Immediately update the passwords for all your online accounts, prioritizing those with sensitive information.
- Enable Two-Factor Authentication
For added security, enable two-factor authentication on all your accounts.
- Monitor Your Credit Reports and Bank Statements
Regularly check your credit reports for any suspicious activity, such as new credit cards, credit inquiries, or unfamiliar phone numbers. Also, review your bank and credit card statements to ensure all transactions are legitimate.
- Run Antivirus Scans
Use antivirus and anti-malware software to identify and isolate potential threats, preventing future compromises.
- Set Up an Email Alias
An email alias is a secondary address for signing up for new online accounts, newsletters, or discounts. Emails sent to this alias can be routed to your main inbox, protecting your primary email account from breaches.
- Consider Identity Theft Protection Services
Identity theft protection services can monitor your credit reports and alert you to suspicious activity. Equifax Complete™ products, for example, monitor your Equifax credit score and report, notifying you of significant changes. If you fall victim to identity theft or fraud, Identity Restoration Specialists can assist in recovering your identity.
Banking Alerts
Another easy way to add protection to your online banking experience is with banking alerts. You can be notified by email or text message when online activity occurs on your accounts including:
- Someone has changed your digital banking password.
- Someone has attempted to access your account.
- Someone has added a new bill payment vendor or Interac e-Transfer® recipient to your profile.
- Your account balance is running low.
To access our banking alerts, simply:
- Log into online banking or our mobile app.
- Choose Profile > Manage Alerts
- Select the alerts you'd like to receive and how you'd like to receive them
You Can Protect Yourself
While the dark web poses a significant threat to your personal information, you can take proactive steps to protect yourself. By staying vigilant, using monitoring services, and implementing strong security practices, you can safeguard your identity and financial future. Remember, it’s not just about reacting to breaches—it's about preventing them wherever possible. Stay informed, stay secure, and take control of your online safety.