It seems there’s a new acronym, term or hashtag trending every day and
understanding it all can get very… #Confusing!!!
This article is going to serve as a living dictionary for security and fraud
terms so you have one quick and easy place to refer to.
– Devices used to collect and communicate personal
information captured in real-time. Examples include fitness bands, GPS-enabled
cameras, digital glasses, smart watches and medical devices.
– Instead of only swiping your credit card during a
transaction like in the past, the new cards (with an embedded chip) require you
to insert your card into the reader slot for processing. Next, you are prompted
to either enter a 4-digit PIN or provide a signature. Chip cards should not be
RFID cards which offer a contactless way to pay by credit card.
– Unless you are using
high-security checks, thieves can wash your checks in chemicals then
re-write the “Pay To” and “Amount” lines to their benefit.
– A type of identity theft when thieves steal the identities of the recently
– Restricts access to apply for available credit unless you
contact the credit bureaus and provide a password. This makes it nearly
impossible for thieves to establish new credit under your good name. You can
also apply a freeze to your
children’s credit, too.
– Emails that appear to be from someone you know or businesses you trust that
ask you to take immediate action. For example, “Please send me money ASAP” or
“Please click here to verify your account information.”
– Thieves access your computer and completely lock it down until you pay a fee
for the code to unlock your computer.
– The use of one electronic device to supply Internet connectivity to another
device. For example, using a smartphone to connect a laptop to the Internet.
– To login to an account, you need to complete Step 1
(entering a password that you know) and then Step 2 (entering a secret code
that you have for a limited time.) Two-factor authentication is also called
two-step login, multi-factor authentication, two-step verification, 2FA or a
– The trend of connecting traditionally non-digital items
(“things” like: refrigerators, thermostats, etc.) to the Internet so that you
can monitor and control them remotely.