San Diego Office

2221 Camino Del Rio South,

Suite 307
San Diego, CA 92108
8 Ways To Protect Yourself From Fraud

8 Ways To Protect Yourself From Fraud

August 01, 2023

At Trax Wealth Management, your security and peace of mind are of utmost importance to us. In light of recent incidents involving fraud and scams, we want to provide you with essential tips to protect yourself from such threats. By implementing these precautionary measures, you can significantly reduce the risk of falling victim to fraudulent activities. Here are eight effective ways to safeguard yourself:

1. Guard your online information. Be sure to continually maintain the security software of your electronic devices.

Ensure that your devices, including smartphones, tablets, and computers, have up-todate security software installed. Regularly update your operating system and applications to benefit from the latest security patches.

2. Monitor your accounts.

It is recommended to log into your financial account daily through online banking or a mobile banking app that enables you to keep an eye on your balances and account activity and ensures that you catch unauthorized transactions quickly.

3. Business Email and SMS Compromise.

Do not click on an email or SMS link unless you know the email or text is from a valid and trusted source. Just like email on your computer, links to fraudulent sites can be disguised in what appear to be valid sources, exposing you to identity theft or fraudulent purchases.

4. Enable Two-Factor Authentication (2FA):

Wherever possible, enable two-factor authentication for your online accounts. This additional layer of security requires you to provide a second form of verification, such as a unique code sent to your mobile device, along with your password. It adds an extra level of protection, even if your password is compromised.

5. Check your credit report.

Review your credit reports for any suspicious activity, such as accounts you didn't open. Credit reporting websites also allow you to set up alerts to notify you of any changes to your business credit score.

6. Think twice about sharing your information.

Be cautious of calls or emails that request sensitive information. Never give out confidential information unless you know it's a trusted and verified source. Avoid sharing sensitive information, such as your Social Security number, bank account details, or passwords, via email, text message, or social media. Legitimate organizations will never request such information through these channels.

7. Report suspicious activity.

If you think you're a victim of actual or attempted financial fraud, contact your financial institution as soon as possible. The sooner they are made aware, the better the chances are that your hard-earned funds can be recovered.

8. Educate Yourself and Spread Awareness:

Share this knowledge with your family, friends, and colleagues. By educating others about fraud prevention, you contribute to a safer online environment for everyone. Encourage them to implement these security measures and emphasize the importance of staying vigilant.

At Trax Wealth Management, we employ robust security measures to protect your data and privacy. However, taking proactive steps to protect yourself is equally vital. If you ever suspect any fraudulent activity related to our services, please don't hesitate to contact our service team immediately.