? Fraud alert! These identity scams are on the rise
In the last few weeks, we have noticed a surge in identity theft issues. Scammers have unfortunately taken advantage of the COVID-19 crisis and are growing bolder.
These are the top 3 identity issues we are seeing most right now:
- Phony Worker’s Comp or Unemployment claims
- Fake Small Business Administration (SBA) loans
- Email takeovers to gain access to financial accounts
Some of these can be very difficult to detect. However, we’re encouraging clients to stay extra vigilant with common sense steps:
- Review accounts & transactions regularly.
- Watch mail for unexpected items from the SBA, Dept. of Labor, Social Security Administration, or the IRS.
- Check credit reports via www.annualcreditreport.com.
- Set up Fraud Alerts or Credit Freezes.
Now is also a good time to review our full series on keeping your finances protected. Below are several articles with our best recommendations for preventing these types of scams – and how to recover if you’ve been affected.
As always, we’re here to help! If you’ve been targeted by a financial scam, reach out to your Wealth Advisors to come up with a personalized plan for your situation.
A Game Plan for Protecting Your Finances
Protect your finances by having an offensive strategy to make it difficult for scammers in the first place, and a defensive strategy to mitigate the impact of breaches. Check out our game plan for keeping your finances safe.
How to Freeze Your Credit
One of the best ways to lock down your identity is to freeze your credit at each of the four credit bureaus. This makes it more difficult for imposters to set up new accounts in your name. Follow our step-by-step instructions for placing Credit Freezes.
Best Practices for Password Management
The best way to prevent online hacks is robust password management. We suggest never re-using passwords and utilizing a password manager to keep accounts safer. Read our guide for managing passwords online.
Defending Seniors’ Finances
Seniors are among the most targeted groups for fraud. When working with an older parent or loved one, consider these 4 ideas for keeping seniors’ finances safe.< Back to Updates