Jan 4, 2017 3 min read

There were a record number of cyber security breaches in 2016.

Experts expect a major increase in 2017. It was recently reported that Yahoo had a second major attack. The first one exposed the records of 500 million people while the second breach was 1 billion. If you have a Yahoo account, you should immediately change your password. Do not open emails that you do not recognize.

The IRS was also hacked and the records of 700,000 taxpayers were compromised. A lot of personal information was stolen. Hackers also gained access to the Department of Homeland Security and the FBI. Thirty thousand employees had their names, phone numbers and email address stolen.

In 2016, over 7 million people were exposed to ransomware. This is expected to jump 25 percent in 2017. Ransomware locks your computer and demands that you pay a ransom to get it unlocked. Institutions such as schools, hospitals and companies are especially vulnerable. An employee visiting some unauthorized site could be the gateway for the infection. A new kind of ransomware allows you to choose to pay the ransom or infect two other computers.

Another growing trend in cyberattacks is known as Internet of Things (IoT). This can include toys, appliances and other household items connected to the internet. If you have these devices, make sure you change the preset password that comes with your purchase and that you follow through with any patches issued by the manufacturer.

Several popular toys including My Friend Cayla and I-Que Robot have been vulnerable. They allow sharing information with a third party. Baby monitors and the camera built into your laptop have also been problematic. Sony IP camera owners should also be aware that over 80 models have allowed attacks. Make sure you download the patch.

Netgear routers have been vulnerable lately. Be especially careful if you own model numbers R8000, R7000 or R6400 routers. It is suggested that you immediately disconnect them. When Netgear was first told about this problem, they did not react. They have now issued a patch after the story was published.

LexisNexis Risk Solutions reports another area of increased criminal activities is using information about deceased individuals. Their identities can still be found in public documents. They create zombie identities and commit fraudulent acts. Report your deceased loved ones to the IRS, Social Security Administration, credit bureaus, banks and insurance companies.

Several popular software programs need to have patches installed. Adobe discovered 17 flaws this month in Flash. Google issued patches to fix 50 problems. Microsoft News patch deals with over 40 vulnerabilities. Make sure you are running good anti-virus software and have setting to automatically download patches for your main software.

You are the first line defense to protecting your identity. Use strong passwords and be careful which emails you open. Often viruses are sent as attachments. Vigilance on your part can prevent a lot of problems.

Your Financial Future is written by certified financial planner Gary W. Boatman, MBA and CFP, who also wrote the book, “Your Financial Compass: Safe Passage Through The Turbulent Waters of Taxes, Income Planning and Market Volatility.”