9 Best Practices for Identity Management

Personal and sensitive information is constantly exchanged online in today’s digital age, so identity management has become a vital aspect of cybersecurity, even to the point that a national holiday was made to remind people to protect their online identities. From individuals safeguarding their personal data to companies protecting their clients’ information, the need for robust identity management practices has never been more apparent.

In this blog, we’ll delve into the importance of identity management and explore nine best practices for protecting your online identity from theft or phishing scams.

What Is Identity Management?

Before we delve into identity management, let’s first define identity theft: this is when a cyber criminal gains access to your personally identifiable information (PII), often for financial gain, like opening up a credit card. PII can include your name, address, date of birth, phone number, Social Security Number, email address, login credentials and more.

Identity management refers to the processes and technologies used to verify, manage and secure digital identities. These identities can include usernames, passwords, biometric data and other personal information that individuals or companies use to authenticate themselves and access various systems or services. Over 100,000 identity theft and personal breaches occur every year.

For individuals, identity management involves protecting personal information like Social Security Numbers, financial data and login credentials. For companies, identity management extends to securing authorized access to corporate networks and systems, protecting customer and corporate data and ensuring regulatory compliance.

Best Practices for Identity Management

By implementing these nine best practices, individuals and companies can strengthen their identity management processes and reduce the risk of identity theft, data breaches and other security incidents.

• Strong passwords: Encourage the use of strong, complex passwords for every account – never reuse passwords. Each password should be at least 19 characters and include a combination of upper and lowercase letters, numbers and special characters. Avoid simple passwords like “password” or “123456,” and don’t use information in your password that is easily guessable, like your birthday or address. Use a reputable password manager to generate and store your passwords, and never share your passwords with anyone.
• Shred sensitive documents: Properly dispose of sensitive documents (financial statements, documents with your SSN, medical records, old photos and IDs) by shredding them before discarding; the tiny bits make it harder to piece them together. This prevents dumpster diving or other forms of physical theft of sensitive information. Whatever hard copies of sensitive documents you keep should be kept in a safe space, like a locked file cabinet or safe.
• Update software: Keep operating systems and software, like antivirus and antimalware, up to date with the latest security patches. These updates often include fixes for vulnerabilities that cyber criminals could exploit to gain unauthorized access to your systems or data. If you think you’ll forget to manually update, set up automatic updates.
• Backup data regularly: Regularly backup important data and systems to prevent data loss due to accidental deletion, hardware failure, disasters or cyber attacks. Store backups securely and test restoration procedures periodically to ensure they work as intended.
• Implement multi-factor authentication (MFA): MFA adds an extra layer of security by requiring users to provide multiple forms of verification before accessing an account or system. This typically involves a combination of something the user knows (a password), something they have (a token) or something they are (biometric data).
• Encrypt: Encryption converts data into unreadable text without the appropriate decryption key, making it difficult for unauthorized parties to access or decipher the data. You can also ensure websites use encryption; look for the lock on the left-hand side of your browser’s address bar or that the website starts with “https” and not “http”.
• Only use secure Wi-Fi or VPN: Public Wi-Fi is an easy way for cyber criminals to hack into your account and steal your personal information. Never use public Wi-Fi when accessing accounts with personal information, like bank accounts. You should also establish a virtual private network (VPN), which creates a private network so your online actions are virtually untraceable. You can also use incognito mode or private browsing for public web surfing.
• Set up alerts and review finances: To fight financial theft, set up bank alerts that let you know when any suspicious activity occurs to your account. You should also regularly review your credit and debit card statements to identify any unexplained charges.
• Watch what you share: The internet is a great way to connect with others, but it can be dangerous if you share too much. Be careful what PII you share online, including pictures of your new credit card or boarding pass. You should especially avoid sharing information that could be answers to your security questions, like your mother’s maiden name or your high school mascot. You can also limit who can view your posts by setting stringent privacy settings.

Benefits of Identity Management

Utilizing identity management comes with several benefits.

First, it can help protect against cyber attacks, including phishing, malware, ransomware and insider threats. Limiting access and verifying identities through a zero-trust mindset guarantees that no unauthorized users can access sensitive data.

Identity management can also strengthen your cybersecurity posture, which helps stay compliant with relevant data protection regulations like GDPR, HIPAA and PCI DSS. Compliance helps ensure that personal and sensitive data is handled and protected appropriately, which can increase customer trust.

Thriveon and Identity Management

Thriveon understands how important it is for individuals and businesses alike to protect their online identities against cyber criminals. That’s why we offer robust managed IT and cybersecurity services that can help protect against these online threats while maintaining compliance.

Schedule a meeting with us today for more information.