A recent survey found that over half of all mobile phone users own a smartphone. The survey conducted by TNS Mobile Life found 52% of mobile users own a smartphone device, which is an increase of 24 per cent from 2010.
But unfortunately fraudsters are also aware of this. People should be wary about the possible risks to the security of their personal information when they are using their smartphone.
The fact that people are using these devices to log in to social networking, use email, download applications and access bank accounts means they also need to be careful they are not opening the door to identity theft. This could leave them hugely out of pocket, and potentially ruin their credit rating.
Security firm Earthwave Managed Services guest blogged on CSO this week, and warned readers about emerging identity theft risks with smartphones.
“The smartphones of today don’t just make calls and take pictures. They serve as handheld PC’s and can potentially provide a thief with enough information about your online presence so that further theft of finances and identity can occur,” the firm says.
Earthwave says the same types of malicious malware and viruses that are present on home computers are being directed to smart phones, but there is a gap in adequate security in this area. Here’s how they say people’s personal information can be compromised:
“The malware could be injected using a PDF document, an image on a website, an e-mail or even embedded in webpage code. While the PC and notebook fall victim to the same attacks, the smartphone is even more vulnerable due to sluggish software development and user naivety…
“The hype surrounding the app-race gives attackers another means of entry – App Stores. Cyber criminals can code apps which include malware with the aim of gaining anonymous and complete access to the data residing on the phone,” the firm says.
Earthwave says people should adhere to the same security practices as those applied to their notebook to prevent smartphone identity theft. They suggest four security measures to take:
1. Install firmware updates that resolve security issues.
2. Always use strong passwords and stay vigilant with your email and web browsing.
3. Always be extremely careful what information you provide on social networking sites
4. Configure websites containing personal or financial information to be encrypted for the entire session, if the site provides this functionality.
Identity theft can be devastating for the victim, and many times they face an uphill battle with their credit rating following it. If the crime is sophisticated – as could be the case with malware-generated identity theft, the virtual stealing of someone’s good name can go undetected for a significant time.
Often it is not until the victim applies for credit somewhere and is refused that they realise their personal information has been stolen and identity fraud has been committed against them. People may have credit applications as a minimum and possibly defaults, mortgages and mobile phones attributed to them incorrectly.
Once any account remains unpaid past 60 days, the debt may be listed by the creditor as a default on a person’s credit file. Under current Australian legislation, defaults remain listed on the victim’s credit file for a 5 year period.
What is not widely known is how difficult recovery from identity theft can be. Unfortunately there is no guarantee defaults can be removed from a person’s credit file. The onus is on the identity theft victim to prove to creditors they didn’t initiate the debts. But for the victim who is virtually robbed of their financial freedom, it is a point worth fighting for.
For more information on identity theft, or for help with credit repair following identity theft, visit the MyCRA Credit Repairs website.
