Protecting Your Wealth: How to Safeguard Against Fraud

Fraud is a growing concern, with sophisticated methods being used to target unsuspecting victims. Financial fraud can take many forms, including identity theft, phishing scams, and investment fraud. Below, read about the latest threats and taking proactive steps to protect yourself.

Identity Theft:

Identity theft typically falls into three categories: financial, medical, and online.

1. Financial Identity Theft: This involves using your personal information, such as social security numbers to access financial accounts. To help prevent this, monitor your credit card and bank statements for suspicious activity.
2. Medical Identity Theft: Thieves can use your health insurance information to receive medical services or file claims. Carefully review all medical and insurance statements. If you find unfamiliar charges, contact your health insurance provider immediately and report the issue to your medical providers.
3. Online Identity Theft: With the rise in social media use, online identity theft is becoming more common. Be cautious about sharing personal information online, such as travel plans or major purchases.

To learn more about helping to protect yourself from Identity Theft, click here.

Phishing Scams:

Phishing scams often involve deceptive emails or messages that appear to come from legitimate sources, tricking individuals into providing sensitive information such as passwords, credit card numbers, or personal details. The messages typically contain urgent requests or offers designed to trick recipients into clicking on malicious links or providing confidential information. To protect yourself from phishing scams, it's important to be cautious of unsolicited communications and avoid clicking on links or downloading attachments from unknown sources.

To learn more about how to spot a phishing scam, click here.

Investment Fraud:

Investment fraud occurs when scammers deceive people into investing in fake opportunities, promising high returns with little or no risk. These fraudsters often use tactics like pressure sales, misleading information, or complex jargon.

To learn more about Investment Fraud, click here.

Steps to Protect Yourself:

1. Regularly Monitor Financial Accounts: Review your bank and credit card statements regularly to catch any unauthorized transactions early. Setting up account alerts helps keep you informed of suspicious activity in real-time.
2. Use Strong, Unique Passwords: Ensure all online accounts are protected by strong, unique passwords. Regularly update these passwords and enable multi-factor authentication for added protection.

To learn more about protecting your personal financial information, click here.

Protecting yourself from fraud requires ongoing awareness and proactive measures. Our team at StackStone Wealth is here to help you navigate these challenges and help protect your financial future.