Ways WE can protect ourselves from Identity Theft and Scams

Everyone is susceptible to Identity Theft and Fraud, regardless of age. However, some age groups are more susceptible in certain ways than other groups. For example:

• Millennials have high instances of ID Theft, especially related to online accounts and are frequently targeted by apartment/rental scams.
• Gen-Xers have high rates of credit card fraud and ID Theft and are commonly impacted by employment/loan scams and phishing attempts.
• Baby Boomers have high rates of tax-related ID Theft and fraud and are often targeted by work-from-home and investment “opportunity” scams.

What’s the Point?
We are all susceptible and can have “blind spots” and let our guard down where ID thieves and scammers can take advantage of us. For example:

• When is the last time you read your bank or credit card statement? Are there unknown charges from a skimmer (someone who copied your ccinfo) at a restaurant or gas station.
• Are there miniscule charges that hit your statement each month that you don’t notice? Sophisticated syndicates get your info and bleed small value charges from many unsuspecting consumers.
• Have you set up notifications on your financial accounts that inform you when charges are made? If not, you should.
• If available, have you locked your financial accounts or locked your credit reporting agency files so money cannot be transferred and credit
  institutions cannot issue loans? You should and if you do lock your credit report file, be sure to unlock it with the credit reporting agencies prior to legitimately applying for a loan. Don’t forget to re-lock it if you unlock it.
• Have you set up two-factor authentication (2Fa) on all your financial accounts? If not, now’s the time.
• Do you periodically change your password on all your financial accounts? You should be doing so every six months or as often as you feel comfortable.
• Do you keep your login and passwords in a digital file on your phone or computer? If so, print it out and delete it immediately. If you have malware on your device, malicious actors can find that file and download it.
• Do you use your browser password manager? It is better and safer to use a reputable third-party password manager.

In today’s world, where nearly everybody’s information is “out there” in one form or another, it comes down to us taking the initiative to protect ourselves from bad actors who want to separate us from our hard-earned assets.

In the end, IT IS OUR RESPONSIBILITY.

Our Advice
Be diligent and cautious when using the digital tools. They are important, necessary, and useful in our everyday activities. Whatever your financial need, we’re here to help.