Resources to protect your identity and financial security

 

We all know the importance of protecting our identity and financial security – especially in today’s digital age. Here are some steps and resources to help safeguard you.

  1. Educate yourself about identity theft. The Federal Trade Commission (FTC) website https://www.ftc.gov/ is a great source for staying informed about the latest scams. And, should you become a victim, report identity theft at identitytheft.gov. This is the federal government’s one-stop resource to help people report and recover from identity theft.
  2. Consider reputable Identity Theft protection services for added monitoring and assistance.
  3. Beware of phishing scams. Be cautious of unsolicited emails, phone calls or text messages requesting personal or sensitive information. Check the validity before sharing.
  4. Enable two-factor authentication by adding an extra layer of security to your accounts. twofactorauth.org
  5. Use strong and unique passwords. Be sure to securely store them.
  6. Use PINs or passwords to lock your devices - computers, tablets and phones.
  7. Update your software and devices regularly. Keep them up-to-date to patch any security vulnerabilities.
  8. Shred documents with sensitive information. This includes personal and financial information.
  9. Use secure Wi-Fi connection whenever possible. If using public Wi-Fi, use a VPN (virtual private network) to encrypt your internet connection.
  10. Secure your social media accounts. Ensure strict privacy settings are set. Be cautious of accepting unknown friend requests and oversharing personal details.
  11. Do online shopping from reputable websites with secure checkout processes. Avoid saving payment information on websites.
  12. Monitor your credit and review for errors. You can get one free report per year from each of the three major credit bureaus – Equifax, Experian, and TransUnion – at www.annualcreditreport.com
  13. Regularly review your statements for unauthorized charges/transactions.

 

When Buying or Selling a property, there are additional measures you can take to protect your financial security.

For Buyers:

  1. If wiring money for earnest deposit or closing costs, verify the correct wiring instructions with the title company. Consider options other than wiring money.
  2. Limit new credit applications. Avoid applying for new credit and opening new credit accounts shortly before or during the home buying process. This can lower your credit score and for some, may disqualify you for a loan.
  3. Use secure methods of communications when sharing personal and financial information with parties involved in the home-buying process. Always verify the source when sharing information via electronic means.

For Sellers

  1. Take extra caution during potential buyer showings. Remove financial and personal information from the home or keep them in a secured/locked place. These items include your bank statements, tax returns, mortgage statements, all documents with account numbers, social security numbers, birthdates, etc.
  2. Use secure methods of communication when sharing personal and financial information with parties involved in the home-buying process. Always verify the source when sharing information via electronic means.
  3. If receiving proceeds through a wire transfer, verify correct financial institution and account number. Consider other options for receiving funds.

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