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In the wake of the expanding investigation of the massive Equifax data breach, the Consumer Financial Protection Bureau followed up on previous suggestions to safeguard yourself by issuing a new list of 10 ways you can protect your financial information.
- Check your credit report. You are entitled to one free credit report every 12 months from Equifax, Experian, and TransUnion. You can request yours from annualcreditreport.com.
- Put a security freeze on your credit reports. This will prevent others – and you – from opening a new account until it is lifted.
- Set up a fraud alert, which will require a financial institution to confirm your identify before opening a new account, issuing another card, or raising a credit limit.
- Scrutinize your bank and credit card statements, with an eye towards charges you did not make or authorize.
- Watch out for unexpected bills from unknown creditors. They could reveal someone else has misappropriated your information and opened up an account in your name.
- Shred documents with sensitive personal financial information. Safeguard hard copies of data you need and shred them when you’re done.
- Change the passwords for all your financial accounts. It would be a good idea to do the same with all your online e-commerce websites and mobile apps.
- File your taxes as soon as possible. An identity thief can use your Social Security number to claim a refund. And don’t ignore any official letters from the IRS.
- If you are active-duty military, you are entitled to additional safeguards. The CFPB has more information on its website.
- If you are the parent or guardian of a minor and suspect your child’s information has been compromised, the Federal Trade Commission has a list of protective measures to take.