Treasury Notes

 National Consumer Protection Week: Keeping Your Data Secure

By: Dan Watson
3/5/2015

Enhancing our nation’s cybersecurity is a top priority for the U.S. Department of the Treasury and our partners throughout the federal government.
 
On a day-to-day basis, Treasury works with the financial sector to encourage financial institutions to adopt proven cybersecurity best practices, coordinate cyber threat information sharing, and support cyber incident response and recovery. We’re also making payments to and from the Federal government more secure with new payment technologies.
 
Cybersecurity is a shared responsibility and everyone has a role to play. This week is National Consumer Protection Week and you can find a variety of resources on how to be a well-informed consumer at www.ncpw.gov. To mark this important week, we’ve compiled helpful information from our federal partners about how to secure your personal and financial information.
 
Start with Online Security Basics
 
While cybersecurity can seem overwhelming, there are simple steps you can take to better protect yourself online. Stop Think Connect, a partnership between the Department of Homeland Security, non-profits and the private sector, is a great resource for tips and advice for basic online safety. For example:
 
  • Set strong passwords, change them regularly and don’t share them with anyone. Consider two-factor authentication to make your online accounts even more secure.
  •  Keep your operating system, browser and other critical software optimized by regularly installing updates.
  •  Use privacy settings and limit the amount of personal information you post online.
  •  Be cautious about offers online—if it sounds too good to be true, it probably is.
 You can find many more tips from Stop Think Connect here.
 
Stay Smart about Scams and Protect your Identity
 
Through common scams like “phishing,” cyber thieves can try to steal your account information. The Federal Trade Commission’s (FTC) Scam Alert page will keep you informed about the latest scams on the Internet. You can sign up to get Scam Alerts in your inbox and they also have guidance on how to avoid and report scams when donating to charities. If you believe someone has stolen and is using your personal information, the FTC’s www.identitytheft.gov outlines what steps you should take right away.
 
Know What to do if You’re Hacked
 
Reports of major companies suffering cyber intrusions are happening more and more. Customers often wonder what they need to do if, for example, they hear that the data of a retailer they frequently visit has been breached. The Consumer Financial Protection Bureau (CFPB) has four steps you should take if you think your credit or debit card data has been breached:
 
·         Monitor your accounts for unauthorized charges or debits.
·         Report a suspicious charge or debit immediately.
·         Submit a complaint to the CFPB if you have an issue with your bank or card provider’s response.
·         Know when to ignore anyone contacting you to “verify” your account information by phone or email.
 
Get more details and other advice from the CFPB here.
 
While there’s no silver bullet for cybersecurity, following these steps will help you to better protect yourself in our interconnected world. We encourage you to take the time to check out these helpful resources and then take the next step and talk to your friends, family and colleagues about staying safe online and protecting your personal and financial data.
 
Dan Watson is a Spokesperson for Domestic Finance at the U.S. Treasury Department
Posted in:  Consumer Protection
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