Identity Theft: How to Protect Yourself and Take Action if You’re Targeted
Common Sense Financial Podcast
Navigating the Challenges of Identity Theft
This chapter recounts a personal experience with identity theft, highlighting the emotional turmoil and logistical challenges faced by the victim. It underscores the frustrating disconnect between the victim's dire situation and the inadequate support from financial institutions and law enforcement.
In this episode, Brian Skrobonja shares tips and insights on how to help protect yourself against identity theft.
He sheds light on the best identity theft tools in the market, what to consider when someone steals your identity, and ways to minimize the risk of your data ending up in the dark web.
- Brian starts the conversation by sharing what he learned as a victim of identity theft and how you can be more prepared if you find yourself in a similar situation.
- The reality is that identity theft continues to be a growing problem and millions of people each year find themselves having to deal with these thieves.
- So this shouldn't be viewed as something that happens to other people. It happens to a lot of people and can happen to you too.
- An important step to help protect yourself against identity theft is to assume it will happen to you at some point and try to be prepared to defend yourself when it does happen.
- Brian explains that we are on our own when it comes to protecting our identity--the police and credit companies are usually of little help.
- According to Brian, one super helpful thing you can do right now is visit credit reporting websites such as Experience or TransUnion.
- These companies can perform searches that go deep into the web and find where your information is posted.
- Your identity is you, and your credit is one of the most valuable assets you have--it's worth taking steps to protect yourself.
- Brian reveals why passwords are by far the most important element for identity protection.
- Passwords are like keys. They are to help keep something of value behind a door. They don't prevent a criminal from getting access, but it makes it more difficult.
- Using strong, complex passwords is one of the simplest ways to protect your accounts. Ideally, every account you have should have a unique password that you can change periodically.
- Brian talks about the two factor authentication. Yes, it can be a little irritating at times, but it’s an excellent tool that adds another layer of security that goes just beyond your password.
- Always shred documents with sensitive information to prevent dumpster diving thieves from getting a hold of crucial details.
- Brian explains what phishing scams are and how they work.
- These scams often involve fake emails or messages that appear to be from legitimate companies asking you to click on a link or provide sensitive information.
- For Brian, even with the best precautions, identity theft can still happen. But being aware of these things can help you not be a victim as easily.
- Once you've identified fraudulent activity, report it immediately. Begin by contacting your bank or credit card issuer to let them know about the suspicion's transactions.
- Brian shares when and how to freeze your credit account.
- Identity theft can be a frustrating experience. And although there's no proven way to prevent it entirely, you don't have to make it easy. It is a risk we all face, but let's not be the low-hanging fruit the thieves are all looking for.
Mentioned in this episode:
Common Sense Financial Podcast on YouTube
Common Sense Financial Podcast on Spotify
This information is being provided as a courtesy and is based solely on the hosts personal experience and is not to be considered professional recommendations or an exhaustive list of steps to prevent identity theft. Nothing can entirely prevent your identity from being stolen or used.
Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS.
Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS.
Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure.
The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training.
This material contains forward looking statements. Forward looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Actual future results and trends may differ materially from what is forecast.
Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier. This show is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation.
This content is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation.
Skrobonja Financial Group, LLC, Skrobonja Insurance Services, LLC, Skrobonja Wealth Management, LLC are not permitted to offer and no statement made during this presentation shall constitute tax or legal advice. Our firms are not affiliated with or endorsed by the U.S. Government or any governmental agency.
The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Skrobonja Financial Group, LLC, Skrobonja Insurance Services, LLC, Skrobonja Wealth Management, LLC.
The AI-powered Podcast Player
