Protect Your Most Precious Asset…Your Identity

Identity theft and all types of financial scams are on the rise. So much so that our government has declared the last week of January Identity Theft Awareness Week to highlight the dangers and suggest ways to protect yourself.

Anyone can be a victim of identity theft and the many forms that it takes. With the right information, the thieves can open a credit card or utility account in your name, or use your information to get a loan, a job, or medical care. They could even file taxes in your name to get your refund.

There's no foolproof way to prevent identity theft, but there are things you can do to greatly reduce the chances you’ll be a target, be able to spot warning signs, and take quick action to minimize your risk.

Safeguard your Social Security number

Your Social Security number is the key to all your personal data. You shouldn’t share it unless absolutely necessary. Memorize your number and don’t carry your card with you. Secure or shred any papers that contain your number.

Freeze your credit

All three major credit bureaus — Equifax, Experian, and TransUnion, can restrict access to your records so new credit files cannot be opened. It’s free to freeze your credit and unfreeze it when you want to open an account. A credit freeze provides you with the best protection.

Use strong passwords

Use a password manager to create and store complex, unique passwords for your accounts. There are many good password managers available for a nominal charge. Don’t reuse passwords. Adding an authenticator app can reduce your risk, too.

Don’t rely on security questions to keep your accounts safe. Scammers can easily find things like your pet's name or local high school mascot by checking your social media accounts. It's worth thinking carefully about what you disclose on social media so you don't give away key data or clues about how you answer security questions.

Don’t fall for phishing and spoofing

Scammers can make phone calls to both your cell and your landline that appear to come from a government agency or business, and emails that look legitimate can be attempts to steal your information. Verify they’re legitimate by initiating a call or sending a return email. And don’t open attachments unless you are confident of the sender.

Monitor your financial statements

The highest percentage of fraud and theft involves credit cards. Review your statements each month. Question any charges you don’t recognize. Be just as diligent with all your financial statements including your mortgage, investments, and medical bills.

At One Financial Services, we believe information is a powerful way to help our clients grow and protect their assets. Our team is here to help guide you to a safe and secure future.