Protecting Your Identity - Why Identity Theft and Fraud Matter

Understanding the Risks and Taking Action

Protecting Your Identity: Understanding the Risks and Taking Action

Identity theft and fraud are more than just headlines—they’re real threats that can disrupt your financial life and peace of mind. As your financial guide, I want to help you understand how these risks show up, what warning signs to watch for, and, most importantly, what you can do right now to protect yourself and your family.

Downloadable Checklist - Am I at Risk of Having my Identity Stolen?

Why Identity Theft and Fraud Matter

Our lives are more digital than ever. From online banking to social media and shopping, we’re constantly sharing information—sometimes more than we realize. Cybercriminals know this, and they’re always looking for ways to exploit our habits and lapses in security. The result? A growing number of people fall victim to scams, data breaches, and identity theft each year.

But here’s the good news: with a few practical steps and a bit of vigilance, you can dramatically reduce your risk.

How Does Identity Theft Happen?

Identity theft and fraud often start with small, seemingly harmless actions:

Reusing passwords across multiple websites makes it easy for hackers to access more than one account if a single site is compromised.
Using weak or predictable passwords (like your pet’s name or “123456”) makes accounts easy to crack.
Clicking on suspicious links or attachments in emails opens the door to phishing scams, where criminals trick you into revealing sensitive information.
Oversharing on social media gives scammers clues to security questions or personal details they can use to impersonate you.
Downloading unvetted apps or failing to update your software can let malicious programs access your data.

Even if you’re careful, your information can be exposed through third-party data breaches—think of all the companies that have your data on file.

Common Scams to Watch Out For

Fraudsters are creative. Here are some of the most common scams targeting individuals and families today:

Government Impersonation Scams: Calls or emails from people claiming to be from the IRS, Social Security, or Medicare, asking for personal information or payment.
Romance Scams: Someone you’ve only met online asks for money, often with a compelling story.
Grandparent Scams: A caller pretends to be a grandchild in trouble, urgently requesting funds.
Sweepstakes and Lottery Scams: You’re told you’ve won a prize but must pay a fee to claim it.
Phishing Emails: Messages that look legitimate but are designed to steal your login credentials or install malware.

What Can You Do Right Now?

You don’t have to be a cybersecurity expert to protect yourself. Here are simple, actionable steps you can take today:

Use Strong, Unique Passwords: Don’t reuse passwords. Consider a password manager to keep track.
Enable Two-Factor Authentication: This adds an extra layer of security to your accounts.
Be Skeptical of Unsolicited Contacts: Don’t click on links or download attachments from unknown sources. If you receive a suspicious call or email, verify it by contacting the organization directly using a trusted number.
Limit Social Media Sharing: Make your accounts private and think twice before posting personal details.
Keep Your Devices Updated: Regularly update your operating system, browser, and antivirus software.
Monitor Your Credit: Check your credit reports for unfamiliar accounts. Consider freezing your credit if you suspect a breach.
Educate Your Family: Talk to children and older relatives about online risks and common scams.
Consider Identity Theft Protection: Services can help monitor your credit and alert you to suspicious activity.

Who Can Help? Key Resources and Links

If you suspect your identity has been stolen or you’ve been scammed, act quickly:

Federal Trade Commission (FTC): File a report and get a recovery plan at IdentityTheft.gov or call 1-877-438-4338. Learn more about the FTC’s consumer protection at ftc.gov.
Credit Bureaus: Place fraud alerts or freeze your credit with the three major bureaus:
Credit Unions: Many credit unions offer fraud protection and monitoring tools. Learn more at:
Identity Theft Protection & Credit Monitoring Services: Consider these options:

Your Next Step

At Sterling Edge Financial, we believe that informed decisions are the foundation of financial confidence. If you’re unsure about your current level of risk or want to review additional ways to protect your finances, let’s talk. We’re here to help you navigate these challenges with processes, ideas and courses of action to protect your finances.

Stay vigilant. Stay informed. And remember, you don’t have to do it alone.

Looking to learn more?
Contact us for a no-pressure conversation about your finances and financial questions.

https://www.sterlingedgefinancial.com/

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This content is being provided for informational purposes only and should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Diversification and asset allocation strategies do not assure profit or protect against loss. Indices mentioned are unmanaged and cannot be invested into directly. Past performance is no guarantee of future results. Investing involves risk. Depending on the types of investments, there may be varying degrees of risk. Investors should be prepared to bear loss, including total loss of principal.

Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer member FINRA/SIPC. Advisory services through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and Sterling Edge Financial LLC. are not affiliated.

Disclosure:

Past performance is no guarantee of future results. The information provided herein is for educational and illustrative purposes only and should not be interpreted as investment advice, a recommendation, or a forecast of future performance. Investing involves risk, including the potential loss of principal. No strategy can ensure success or protect against loss in all market conditions. Clients should consider their individual objectives, risk tolerance, and financial situation before making investment decisions. Please consult with a qualified financial professional before acting on any information contained in this material.