This is Why You're More Vulnerable to Identity Theft Than You Realize

NEW YORK (MainStreet)—When it comes to doing banking and business online, all your data is sensitive data. Even something as simple as checking your balance online transmits account numbers, routing numbers, balances and other critical information. It only takes one insecure account or login to compromise your data, no matter how secure the rest of it is. With 12.6 million identity thefts in 2012 alone, this is hardly an academic enterprise. We spoke to data experts about what threats are out there and how you can avoid becoming another statistic.

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QR Codes: The Indecipherable Threat

"People need to realize that QR codes are links that lead you back to something unknown," says Lynn Price, a security strategist with an emphasis on finance at IBM. "You need to be rather suspicious of it, even thought it's a cool technology." What this means is that merely by taking a picture of the code, you can potentially be compromising your smartphone. Depending on what apps you're using, this could be exposing you to a vast intrusion into your personal financial data.

Gregg Smith, CEO of KoolSpan agrees. "QR codes are extremely vulnerable," says Smith. "Those QR codes are everywhere. If you walk down the street in New York, you'll see a ton of them." Simply taking a picture of one can riddle your phone with malware.

Social Media: Full of Traps

The 2010s are the era when social media has really taken hold. No longer the domain of early adopters, everyone and his grandmother is on Facebook these days. Christie Alderman, vice president of new products and services at Chubb Personal Insurance, however, urges a heavy degree of skepticism and a small dose of healthy paranoia when it comes to using social networks.

"People in general are not critical enough of what motivates someone to offer free products online," she says. "Are they collecting your data for marketing purposes or something more nefarious?"