Finance & Investment

The hidden costs of sharing personal information – and how to avoid them

Have you ever stopped to think about what happens when you share your personal information online? In today’s world, you can easily hand over your name, email, phone number, and other details without a second thought. But sharing too much can lead to big problems such as identity theft, stolen credit card information, and fraud. These questions…

Have you ever stopped to think about what happens when you share your personal information online?

In today’s world, you can easily hand over your name, email, phone number, and other details without a second thought. But sharing too much can lead to big problems such as identity theft, stolen credit card information, and fraud.

These issues aren’t just money matters, they can also cause stress, frustration, and long-term risks to your privacy. Millions of people fall for scams every year, and the methods used by hackers are becoming increasingly difficult to detect. From fake emails to identity theft, these threats can catch even the most cautious among us off guard.

I see scams all the time and sometimes they look so real that even I wonder if it’s real or fake!

Just last week, while I was waiting for an email from my insurance agent, I received a very similar looking and sounding email from a scammer claiming to be my agent. The email subject was even similar to what my agent and I were talking about. I almost got scammed because I wasn’t paying attention.

A friend of mine once lost his family savings to a phishing scam. They received an email from someone pretending to be a mortgage lender. Everything looked legitimate, even the sender’s name. But it was a scam and they ended up losing $25,000.

Fortunately, there are tools and strategies that can help protect your personal information and reduce these risks. Let’s look at the dangers of oversharing and the steps you can take to protect your information.

The real dangers of sharing personal information

First, let’s talk about the real dangers of sharing personal information.

1. Identity theft

Identity theft occurs when someone steals your personal information and impersonates you.

Thieves can use your name, Social Security number, or other details to open credit cards, loans, or even commit crimes. This can cost you a lot of money and time to fix.

Did you know that millions of people experience identity theft every year? The Federal Trade Commission (FTC) said many victims spent more than $1,000 of their own money to resolve the problem. That doesn’t include all the time it takes to repair your credit report and argue with your bank.

This is a very vexing problem.

2. Credit card information stolen

Your credit card information can be stolen in a variety of ways. Hackers may obtain information through data breaches, stolen devices in stores, or even fake websites. Once they have your card details, they can make purchases in your name. While banks often pick up fraudulent charges, it can take weeks to resolve any issues. At the same time, your bill may be delayed and you may face fees.

Globally, credit card fraud costs billions of dollars every year. Even if you receive reimbursement, the stress and inconvenience are real. You may need to get a new card, update your automatic payments account, and monitor your statements closely.

3. Phishing scams

Phishing scams can come in the form of fake emails or messages that appear to be from a trusted company. They are designed to trick you into sharing personal details such as passwords or account numbers.

These scams are getting harder to detect.

Clicking on a fraudulent link can allow hackers to access sensitive information. My friend’s story is a sad reminder that even the smallest mistakes can have serious consequences.

4. Phone number scams

Your phone number may look harmless, but scammers can use it to cause serious harm. With just your phone number, they can:

  • Access your online account – Many websites use your phone number to recover accounts. Scammers can trick mobile operators into transferring your number to their SIM card (a process called SIM swapping). This allows them to hijack your accounts, including email, banking, and social media.
  • Phishing and Phishing – Scammers may call or text you pretending to be from a legitimate company. They can use these interactions to steal sensitive information, causing you to lose money or gain unauthorized access to your account.

These scams are getting harder to spot because they look so real.

To protect yourself, it’s important to limit where you share your phone number and use tools like Surfshark’s Backup Numbers, which gives you a virtual number for safer online interactions.

costs beyond money

The financial implications of sharing information are bad enough, but there are other hidden costs:

1. Stress and Anxiety

Imagine finding out that someone has stolen your identity or emptied your bank account. It can be stressful! It can take months of phone calls, emails and paperwork to get everything sorted out.

2. Loss of trust

Once your information has been stolen, it can be difficult to trust websites, apps, or even emails. You may be hesitant to shop online or sign up for a service. This can make everyday tasks more difficult.

3. Ongoing risks

Even if you resolve the issue, your information may still be there. Hackers can sell your data and use it again. This means you must remain vigilant and continuously monitor your account.

How to protect yourself

The best way to avoid these problems is to take steps to protect your information. Here are some simple tips:

1. Develop good Internet habits

– Use strong passwords: Make sure passwords for each account are long and unique. Don’t reuse old passwords, as these can sometimes be found on the dark web.

– Turn on two-factor authentication: This adds an extra layer of security. Even if someone steals your password, they won’t be able to get into your account without a second verification step, such as a code sent to your phone via text message.

– Be careful what you share: Think twice before sharing personal details, especially on social media.

– Don’t click on suspicious links: If an email or message looks suspicious, don’t click on it. Instead, visit the website directly.

– Call the person directly to confirm the Telegram message: don’t rely solely on email. I always call and talk to real people I know. You don’t just want to call the person listed in the email in case the email is fake. Instead, find the phone number of the person you’re dealing with and call them—it only takes a moment and can save you from a scam.

– Use the Identity Theft Notification Tool to get alerts when your real or family information appears online (Surfshark has alerts you can find here)

2. Use privacy tools

Surfshark’s tools make protecting your personal information easier. Here’s how:

- Alternate ID: This tool gives you a new identity for online use. It includes a pseudonym, email address, and other details so you don't have to share your real information. This is great for signing up for a website or newsletter without worrying about spam or data leakage.

– Alternate ID: This tool gives you a new identity for online use. It includes a pseudonym, email address, and other details so you don’t have to share your real information. This is great for signing up for a website or newsletter without worrying about spam or data leakage. You can learn more about Surfshark alternative IDs here.

- Alternate number: This is a virtual phone number that you can use in place of your real phone number. It's perfect for online shopping or any time you need to provide your phone number. You can still receive calls and text messages, but your real number remains private. You can even sign up with this number to get a discount so your real phone number doesn't get spam. Backup numbers minimize data sharing, robocalls, SMS phishing, and more.

– Alternate number: This is a virtual phone number that you can use in place of your real phone number. It’s perfect for online shopping or any time you need to provide your phone number. You can still receive calls and text messages, but your real number remains private. You can even sign up with this number to get a discount so your real phone number doesn’t get spam. Backup numbers minimize data sharing, robocalls, SMS phishing, and more. You can learn more about Surfshark alternative numbers here.

Surfshark also sells VPNs for encrypting Internet connections, CleanWeb for blocking ads and trackers, and data breach monitoring.

It is an all-in-one solution for privacy and security.

What I like about Surfshark is how user-friendly it is. You don’t need to be tech-savvy to use it, and if you have questions, their customer support is always there for you.

Please click here to learn more about Surfshark.

Why privacy saves money

Protecting your information not only keeps you safe, it also saves you money. Here’s how:

1. Avoid costly repairs

The cost of recovering from identity theft or fraud can be very expensive. You may need to hire an attorney, pay for credit monitoring, or pay fraud charges until your bank provides you with reimbursement.

2. No hidden fees

When your account is compromised, you may miss a bill payment because your bank freezes your account. This can result in late fees or even higher interest rates. Keeping your information secure can help you avoid these costs.

3. Long-term benefits

The peace of mind that comes from having your information protected is priceless. You can shop, browse, and sign up for services without worrying about scams or violations. Plus, by preventing problems now, you can save time and money in the future.

What you can do now to protect your personal information

Your personal information is valuable (and important!), and protecting it is easier than you think. Don’t wait until it’s too late.

I still remember the stress I felt the first time I received a suspicious email claiming to be from my bank, which prompted me to take protecting my personal information even more seriously.

By controlling your personal information, you also control your financial future. Stay safe, stay private, and have peace of mind that your information is safe.

Please click here to learn more about Surfshark.

What steps are you taking to protect your personal information online? Let me know in the comments!



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