Consumers love loyalty programs. There’s nothing better than being able to claim a freebie or a discount thanks to the points you collected through previous purchases. From gift cards and merchandise to air travel, consumers can earn all sorts of rewards through these programs.
The only downside to these loyalty systems is the lack of security features that protect users’ hard-earned points. Cybercriminals across the globe have proven on multiple occasions how easy it is to hack loyalty accounts and steal reward points.
Why Are Loyalty Programs Vulnerable?
According to NBC News, there are 3.3 billion people involved in loyalty programs across the US. Their accounts hold a total of 48 billion dollars in points and air miles. With such a large number in the game, it’s no wonder why hackers are frequently targeting loyalty programs.
“It’s a huge problem and getting bigger,” said Bratt Johnson, a digital security consultant and also a former cyber-thief who turned his life around after six years in prison. “Rewards points are a goldmine for crooks. They’re easy to access, very easy to use or transfer, and victims rarely check their accounts, so criminals flock to this type of crime without fear of consequences."
Even though they are called rewards, these points are nothing but another digital currency. Similarly to Bitcoin, reward points can be exchanged for goods and services just like cash. Since this is a liquid currency, hackers can use it to buy gift cards or merchandise, which they can later resell online.
Whichever route they go for, hackers can make some quick and easy money through reward systems. The main reason why these programs are often targeted is that their accounts lack proper security. Most loyalty program accounts are protected by only an email address and a password.
This makes it tremendously easy for hackers to tap into endless resources of gift cards and points that can be exchanged for different goods. If you are a member of a loyalty program, check out the tips below to protect your rewards from cybersecurity threats!
Protect The Points You Earned
The best way to secure your hard-earned air miles and reward points is to use a strong password paired with your best email address. Don’t reuse old passwords or simple words that could be guessed easily. Consider using a password management tool to get the best out of password security.
If the loyalty program you’re in offers two-factor authentication, make sure to take advantage of this security feature. It might seem like a hassle to go through one extra step each time you are logging in but this can make a significant difference in the security of your account.
Lastly, consider using a virtual private network or VPN each time you’re logging into the account. It is recommended to use a VPN regularly to browse the internet anonymously and hide your data and devices from potential security threats. For more tips on how to maintain good security measures, look into the NIST cybersecurity framework.
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