Protect Yourself From Identity Theft
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Identity theft is the illegal use of a person’s Social Security number, credit card or other personal information to commit a crime. According to a report from Javelin Strategy & Research, identity fraud cost 40 million Americans a combined $43 billion in 2022. While this figure was $9 billion less than 2021, financial service providers and consumers should be as vigilant as ever about protecting personal identifying information. Although financial institutions are doing what they can to protect our personal information from those who wish to fraudulently use it, we can also take steps to protect ourselves. The first tip is to never give your bank account and Social Security numbers to people over the phone. Many scammers claim to be from your bank or a government entity and tell the person they are trying to protect them, when in fact they are doing the opposite. Remember the Social Security office or your bank is not going to call you and ask for your number. Another way to preve...