Protecting Yourself and Your Children From Identity Theft: Steps You Can Take Today

Freezing your credit is one of the most effective ways to prevent unauthorized access to your financial information. It prevents lenders from accessing your credit reports, making it nearly impossible for identity thieves to open accounts in your name.

We strongly recommend you freeze your credit with all three major credit bureaus:

Credit Freezing Links

• Equifax: Security Freeze or 888-Equifax (888.378.4329)
• Experian: Freeze Your Credit File for Free or 888.397.3742
• TransUnion: Credit Freeze or 800.916.8800

While freezing one bureau may suffice in some cases, it is safer to freeze all three, as not all financial institutions check with all bureaus before issuing credit.

For children, freezing their credit is equally important. Although the process can be more time-consuming, it is crucial to do so before they become teenagers and gain access to devices. Identity thieves often target minors because their credit histories are clean and unchecked for extended periods.

Resources Regarding Child Identity Theft

• Equifax: Freezing Your Child’s Credit
• Experian: Child Identity Theft Protection
• TransUnion: Child Identity Theft

If you believe your personal information has been compromised, taking immediate action can help mitigate the damage. Here are some steps to follow:

Personal Email Accounts

• Make sure you have two-factor authentication enabled.
• Change your password immediately on the affected email account.
• Consider closing the compromised account and opening a new one with a different provider (such as Gmail).

Computers and Devices

• Perform a full system scan on all devices (computers, phones, tablets, etc.) that may have been accessed through the compromised email.

Bank and Investment Accounts

• Change your passwords for any online banking or investment accounts.
• If you have switched email addresses, consider updating your login credentials with your new email.
• Notify your financial institution or investment provider of the potential identity theft and request restricted access to your accounts.
• If necessary, close and reopen your accounts under new account numbers to prevent further fraudulent access.

Investment Accounts With Forum

• Contact your Forum advisor immediately if you suspect identity theft or fraud.
• Your advisor will inform the account custodian and take steps to update your accounts, including determining whether it is necessary to change your account numbers.
• A Forum team member will assist you with updating your Client Portal access and securing your investment accounts.

As another option to freezing your credit, consider placing fraud alerts on your credit reports. Fraud alerts notify creditors to take additional steps to verify your identity before opening accounts in your name. Unlike credit freezes, fraud alerts allow creditors to access your credit report while offering additional protection. They generally remain active for one year and can be renewed.

Taking extra steps to secure your personal information can further reduce the risk of identity theft.

Here are some additional precautions to consider:

• Change your email address and password for all accounts tied to a compromised email address.
• File a police report if you are a victim of identity theft.
• Consider subscribing to identity protection services that offer credit monitoring and identity theft protection, such as LifeLock, Identity Guard or Privacy Guard.
• Use resources like the Federal Trade Commission’s Identity Theft Hotline at 877-ID-THEFT (877.438.4338) or the website (https://identitytheft.gov) to report and recover from identity theft.
• Contact the Social Security Administration’s Fraud Hotline at 800.269.0271 for further assistance.

Fraudsters often try to trick victims into divulging personal information through phishing scams. Be cautious of any emails, texts or phone calls from unfamiliar sources, especially those asking for sensitive information. Any request for immediate action or pressure to share details should be considered suspicious.

In today’s digital world, protecting your personal information is more important than ever. Freezing your credit, monitoring your accounts and staying alert to scams can significantly reduce the risk of identity theft. Taking these preventative measures now will help you avoid the headaches and financial risks associated with fraud in the future.

If you have any concerns or need assistance with your investment accounts, don’t hesitate to reach out to your Forum advisor. We’re here to help you stay protected and informed.