4 real-world reasons to protect your personal information online

Investigating the actual consequences of being cavalier with your details online with insights from Cyber Security Industry Advisory Committee member, Bevan Slattery.

With trends like eCommerce and personalised advertising taking over the internet, people are becoming more indifferent than ever about the security of their personal details on the internet.

An average of 164 cybercrime reports are lodged to the Australian Cyber Security Commission (ACSC) every day, meaning that every ten minutes, someone is facing a threat to their online safety.

But what does it mean, exactly, to have your online safety threatened?

The consequences of handing over your credit card details, sharing your geolocation or recycling a common password are more imminent and hard-hitting than you probably think.

So here, with insights from serial entrepreneur and cyber security board member, Bevan Slattery, we reveal four real-world consequences that you face when you're not properly protecting your personal information online.

1. Your money can be stolen

With cybercrime to cost the world US$10.5 trillion annually by 2025, there is certainly a lot to lose when it comes to your personal finances being shared via the internet.

Online shopping has become easier and more accessible in recent years, making it convenient to simply type in your credit card details and click "buy" on any website.

But if that site is not secure, that transaction you've just made can put your banking details into the hands of criminals who can - and will - spend your money.

Sharing your location can also aid in all types of theft by letting a public audience know whether you're home or away.

"Sometimes, it's not so much about where you are, it's more about where you're not," says Slattery.

"If you're publicly sharing that you're holidaying overseas or that you're not at home, there have been many instances where people with this information have broken into houses and stolen goods because they knew no one was home," he says.

It was confirmed that social media sharing helped the criminal responsible for the infamous Kardashian robbery in 2016 to plan his heist, leveraging Kim's oversharing to steal valuable items, including jewellery and cash.

2. Your identity can be assumed

Identity theft is one of the most common - and most harmful - types of cyber crime that can result from reckless online actions, such as using the same old password for multiple accounts or thoughtlessly giving up your banking details which include your name, contact information and address.

"As soon as a hacker gets hold of the password to your email, for instance, they instantly gain access to so much of your personal information - including who you talk to, what you do, how you write, who your contacts are" Slattery says.

This makes it easy for cybercriminals to then impersonate you through your own social and messaging channels, or set up new accounts under your name which you have absolutely zero control over.

Even worse, these criminals can open a whole new bank account, get a credit card, apply for a passport or conduct illegal activity - and it's all under your name.

3. Your friends' and family's accounts can be compromised

The knock-on effects of having one of your accounts hacked impacts the people in your network, too.

"Hackers can spread viruses and malware to your contacts from your account," Slattery says, which they do through sending sketchy links or files that appear legitimate to the user on the other end.

Particularly for people who aren't as technologically savvy, say your mum or maybe your grandpa, they likely wouldn't think twice about opening up something that "you" sent them.

So, giving out your personal information online can have consequences for more people than just yourself, and can put your own family and friends in danger.

4. Your reputation can be damaged

Reputational harm can result from a range of careless online activities, and it can sometimes be very hard to recover from.

"With access to your social networking or messaging accounts, cybercriminals have the freedom to share things on your behalf that are incredibly insensitive, or they can reach out to people making inappropriate requests," Slattery says.

"This can be especially detrimental for businesses, but it can damage individuals' reputation just the same."

From having someone assume your identity and steal your money, to compromising your friends' and family's accounts and damaging your reputation, the consequences of being cavalier about your online security are very real.

There are many easy tips and tricks that you can take on to avoid these threats, which you can access and download free on the How-To page. In short, here are just a few measures we recommend:

• Opt to purchase securely through PayPal when shopping online

• Be mindful of who can see your location and when they can see it

• Use a unique password for all of your important online accounts and update them at least every six months

---

Contributor: Bevan Slattery, Board Member of the Cyber Security Industry Advisory Committee