Protecting Your Financial Identity

National Financial Literacy Month is recognized each April to highlight the importance of financial literacy and teach Americans how to establish and maintain healthy financial habits. In honor of National Financial Literacy Month, here are some tips on how to protect your personal and financial information against fraud:

• Don’t provide your Social Security Number or bank account information to anyone who contacts you online or over the phone.
• Enroll in online banking and online statements to eliminate the likelihood of paper statements being stolen.
• Shred paper statements and pre-approved credit card offers before throwing them away.
• Don’t mail bills from your own mailbox with the flag up, rather go directly to the post office to mail bills if possible.
• Monitor your financial accounts regularly for fraudulent transactions. Alert your financial institution immediately if you believe you are a victim of fraud.
• Order a free copy of your credit report from one of the three credit reporting agencies every four months at annualcreditreport.com, and check the report for accuracy.
• Make sure that your computer’s operating system and software is up-to-date.
• Don’t reveal sensitive or personal information on social networking sites. Things like your pet’s name or high school mascot are examples of information that a company may use to verify your identity or to recover a forgotten password.
• Protect your PINs and passwords and do not share them with anyone. Use a combination of letters, numbers and special characters for your passwords and change them often.
• Sign up for text or email alerts from your bank for certain types of transactions, such as online purchases or transactions of more than $200.
• Before you donate, sell, or trade in your mobile device, be sure to wipe it clean using the manufacturer’s recommended technique.
• Use the passcode lock on your smartphone and other mobile devices. This will make it more difficult for thieves to access your information if your device is lost or stolen.
• Report any suspected fraud to your financial institution immediately.

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