Everything has a price – including your digital identity
How do you protect against hackers working day and night to get your data? And how much does identity theft protection cost, to keep your private information from their prying eyes?
THOUGHT LEADERSHIP
Cost of Protecting Your Identity Online
Identity theft protection costs less than you think.
Ways to protect your digital identity
Adding additional protection
Good password habits
Multifactor authentication
Here’s what your digital identity is worth to hackers
Hackers can get a pretty-penny selling your data on the dark web.¹
- US $1: Social security number.
- US $10: Login for subscription services like Netflix.
- US $110: Credit or debit card info.
- US $200: Login for payment services like PayPal or Venmo.
- US $1,000 Healthcare records.
- US $2,000 Passport number.
Despite the value of personal data, people aren’t protecting their digital identity.
- only 50% of people feel that their data is safe online², but most don’t do anything about it.
- only 55% would change their password if their account was hacked.³
People are prioritizing fun over security and protecting their digital identity.
When asked what motivates them to try new technology:
- 62% said if it provides entertainment.
- 21% said if it provides safety and security.⁵
People are using cost as an excuse.
39% of consumers say that their biggest challenge with using technology is cost. But spending on apps is growing year over year. So, is cost really the problem?
- US $83B + was spent on apps in 2019, growing 17%.
- US $61.7B of that was spent on mobile games, up 12.8% from 2018.
- US $3.9B was spent on Entertainment apps.⁴
Cost doesn’t need to be an excuse.
Sources:
- Here's How Much Your Personal Information Is Selling for on the Dark Web
- LastPass survey data
- Psychology of Passwords Neglect is Helping Hackers Win
- SensorTower.com
- LastPass survey data
5 free ways to protect your digital identity
Protect your passwords
Create unique and strong passwords for every account and let a free password manager remember and fill them in for you on all your devices.
Set up credit monitoring
Free credit monitoring services through your bank or credit card can alert you when your credit score changes.
Turn on multi-factor authentication
Many of your most sensitive accounts like email and banking will offer MFA for free – making it harder for hackers to get access.
Don’t overshare
Hackers use public information from social media accounts to trick you into trusting them through fraudulent emails and phone calls.
Ensure security on all devices
Keep your system software up to date, run antivirus software, and use a password manager that autofills secure passwords on all your devices.
The identity theft protection cost is less than the cost of not protecting your digital identity
LastPass remembers all your passwords across every device!
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