5 Ways to Protect Your Loved Ones From Fraud

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Physical distancing and enhanced cleaning aren’t the only things to be aware of during these times. Protecting the ones closest to you from fraud—especially during COVID-19—is very important.

Here is a list of five things to do to help protect those you cherish most, according to myFICO.

Be mindful of scams

COVID-19 has brought its own challenges and criminals will use this advantage to target elders to exploit information. This could be via text message, email, or even traditional mail. Give information to your loved one and help them identify anything that might look suspicious.

RELATED: Watch Out for These COVID-19 Scams

Keep an eye on the credit report

Pay attention to the transactions in your accounts and keep an eye on your credit report. Possibly look into activating alerts for spending. For example, getting an alert when you’ve spent $500 in the month.

Make Sure to register with the National Do Not Call Registry

Registering on DoNotCall.gov will help to keep unwanted calls at bay. You can register your home and mobile phone for free.

Be prepared with a Power of Attorney

Looking into establishing a Power of Attorney is a great step towards being proactive. This is a legal document that authorizes the individual to act on another’s behalf in many things, including business, financial affairs, etc.

Check-in on loved ones

Schedule check-ins with loved ones and look at their finances regularly. Help them by keeping a close eye on their financial goals and know where their financial accounts are held. 

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