Protecting Yourself from Scams After the Equifax Hack

By Modern Wealth Management

September 18, 2017

By now you have probably heard about the Equifax data breach (if not, you can read more about it here) and if the fact that millions of people’s personal information was linked to heaven knows who isn’t bad enough, here is even more concerning news. Scams relating to this breach are now out in full force as well.

The newest scam involves someone calling you and identifying themselves as an employee of Equifax with an accompanying offer of free credit checks, credit freezes amongst other things. Simply “verify your account information” and you’ll be all set. The only problem is upon doing this is, you’ve now upped the chance of your information being used fraudulently. The truth is, Equifax will not be calling the 140 million plus customers offering free credit protection services.

Another popular scam involves tax-payers tax refunds (for those of you lucky enough to get a tax refund). This is not a newly thought of scam, thieves have been doing this for decades. They get your name, address, and your social security number and file a fake tax return and have your refund given to the thief rather than you. The best way to protect yourself if your information has been leaked is to file your 2017 tax return as soon as you can.

For more information on how these scams happen and how to help protect yourself, you’ll want to read the Federal Trade Commission’s latest article here.

As always, if you have any questions regarding your retirement accounts, please do not hesitate contacting your Modern Wealth Management Advisor Team at 913-393-1000 at the Lenexa office or 816-554-3736 for the Lee’s Summit office. Or schedule a complimentary consultation below.

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The views expressed represent the opinion of Modern Wealth Management an SEC Registered Investment Advisor. Information provided is for illustrative purposes only and does not constitute investment, tax, or legal advice. Modern Wealth Management does not accept any liability for the use of the information discussed. Consult with a qualified financial, legal, or tax professional prior to taking any action.