Don't Let Clients Become Identity Theft Victims
VanderPal, Geoffrey,D.B.A., C.F.P. (2015). Don't let clients become identity theft victims. Journal of Financial Planning, 28(5), 24-25.
3 Pages Posted: 28 Apr 2017
Date Written: May 1, 2015
As a trusted financial planner, part of your role is to protect client assets and safeguard their privacy. This is an opportunity for you to advise clients on protecting their personal privacy, preventing identity theft, and suggesting proven strategies to greatly reduce their risks. The primary types of identity theft are: financial identity theft, driver's license identity theft, Social Security and IRS identity theft, medical identity theft, child identity theft, and synthetic identity theft. Meanwhile, the greatest tool in preventing information from being stolen and used illegally is the security freeze. Additionally, your clients should never use their home address because that information is sold to marketing lists and becomes public information. Avoid being hacked by using a two-factor authentication, which involves using a username and password plus a secondary level of security, such as security codes sent via text. Also, always use a Virtual Private Network service when using public WiFi.
Keywords: Identity Theft, Fraud, Financial Fraud
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