6 Tips for Protecting Your Financial Security and Preventing Fraud

Written By Naazma Garcia
Feb 24, 2022

Each year millions of Americans fall victim to financial fraud and identity theft. In 2020 alone the Federal Trade Commission (FTC) received more than 2.1 million fraud reports from consumers, with impostor scams cited as the most common.   

 Identity theft can be a stressful experience and have a significant impact on your credit and finances. Follow these best practices to protect your financial security and personal details from identity thieves and hackers. 

Track your credit report

 An effective way to spot suspicious activity is to track your credit report. Identity thieves can use personal information to take out credit card debt and loans in your name. The faster you act, the easier it will be to clean up before it gets out of hand.  

 You’re entitled to one free credit report every 12 months from each of the three major credit bureaus. Plus, you can sign up for free credit-monitoring services to alert you of real-time activity on your credit report, including purchases made on an existing account. 

Shred personal documentation

 Documentation including bank statements, credit card statements, and paper bills can expose sensitive information such as your social security number and account details. To reduce the risk of fraud, it’s important to destroy all documents when you finish using them.  

 Watch out for phishing scams 

 Phishing scams target consumers with a phone call, email, or text message that appears to be from a trusted source such as a bank or credit card company. They aim to trick consumers into handing over personal identifying information that can be used to open a new account in the consumer’s name or carry out e-commerce transactions.  

 If you receive an email that asks you to click on a link, download an attachment, or give personal information, avoid responding to the email. Instead, go over to the official website of the company in question and get in touch with customer support to verify the email first.  

Create secure passwords 

 Each account you use should have a unique password with a random sequence of characters, numbers, and letters. Avoid using birthdays, locations, and names as these are easily guessable. 

Data breaches happen all the time and if hackers get hold of login credentials for one website, they may attempt to use it for another. It’s important to change your passwords regularly. If this becomes difficult to track, consider using a password management tool to securely store your information.  

 Use two-factor authentication  

 Two-factor authentication creates a second layer of defense to access an account. Login requires a password and a one-time code sent to your phone number or email. 

 Many banks and credit card companies allow you to activate two-factor authentication at no extra cost. 

 Limit personal information on social media 

 Public social media profiles make personal information such as names, birthdays, and where you live easily accessible. Avoid oversharing, as criminals can use this information to steal your identity. 

Americor is a debt relief company that assists clients through financial hardship and debt settlement. For further advice, get in touch today! 

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We provide debt resolution services. Our clients who make all monthly program payments save approximately 40 – 50% of their enrolled debt (average of 43%) upon successful program completion, before program fees. Fees are based on a percentage of your enrolled debt at the time of starting the program and range from 15%-25% of your enrolled debt. Programs range from 20-48 months. Clients must save at least 25% of each debt due to an enrolled creditor before a bona fide settlement offer will be made. On average, clients receive their first settlement within 4-7 months of enrollment and approximately every 3-6 months thereafter from when the prior debt was settled. Not all Clients complete the program. Estimates are based on prior results and may not match your results. We cannot guarantee that your debts will be resolved for a specific amount or percentage or within a specific timeframe. We do not assume your debts, make monthly payments to creditors or provide tax, bankruptcy, accounting, legal advice or credit repair services. Our program is not available in all states; fees may vary by state. Some programs may be offered through The Law Firm of Higbee & Associates d/b/a Advantage Law. The use of debt resolution services will likely adversely affect your credit. You may be subject to collections or lawsuits by creditors or collectors. Your outstanding debt may increase from the accrual of fees and interest. Any amount of debt forgiven by your creditors may be subject to income tax. Clients may withdraw from the program at any time without penalty and receive all funds from their dedicated account, other than funds earned by the company or fees paid to third-party service providers, as may be applicable. Read and understand all program materials prior to enrolling. Certain types of debts are not eligible for enrollment. Some creditors are not eligible for enrollment because they do not negotiate with debt relief companies. To determine the offers you may be eligible for, Americor conducts a “soft credit pull.” This credit pull does not impact your credit score, creditworthiness, or ability to obtain credit from other sources. The soft pull is not a tradeline entry, it does not report against your score and will only take a few minutes.

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