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Safeguarding Your Finances: Navigating Fraud Awareness Week

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The word FRAUD appears behind torn orange paper.Fraud Awareness Week takes place from November 12-18, 2023. This annual event provides an important opportunity assess your financial security and take measures to safeguard your assets. For business leaders, it’s a chance to review security policies with your employees, while individuals can use this time to conduct an annual checkup at both work and home. Here are practical steps to protect your finances in both business and personal settings.

For Businesses

  1. Proactive Measures: Instead of reacting to fraud incidents, establish proactive security measures. By doing so, you’ll be better prepared to handle any fraud incidents that might occur.
  2. Employee Training: Educate your employees about various types of fraud, including scams, credit card fraud, and identity theft. This empowers your staff to work together to prevent fraud.
  3. Improve Hiring Procedures: Internal fraud can be a significant threat. Strengthen your hiring procedures to minimize internal fraud risks by conducting thorough background checks with government agencies and previous employers.

For Personal Finances

  1. Secure Document Storage: Safeguard personal information such as financial documents, Social Security cards, Medicare details, and credit cards by storing them securely at home and at work. Avoid carrying them unless necessary during your travels.
  2. Confidential Information: Never share personal or financial information over the phone, by mail, or online unless you have initiated the contact and trust the recipient.
  3. Receipts and Statements Review: Regularly inspect your credit card receipts to ensure only the last four digits of your card number are displayed. If the number is printed in full, report it to the Office of the Attorney General.
  4. Online Purchases: Use a single credit card number for online purchases to better control and protect your account. Avoid using debit cards for online transactions.
  5. Keep Your Mailbox Empty: Minimize the time your mail or information stays in your physical mailbox to reduce the risk of theft.
  6. Strong Passwords: Strengthen online financial account security by using passwords that utilize a combination of numbers, letters and special characters. Change your passwords regularly to deter hackers.
  7. Document Shredding: Securely dispose of documents like receipts, credit offers, loan applications, insurance forms, bank statements, and other sensitive documents, as well as anything showing your name and address, like shipping tags, prescription labels, and magazines. Adopt a shred-all policy to ensure all personal information is properly destroyed. Comply with privacy laws and consider using a professional shredding company for added peace of mind.

Wiggins Shredding offers secure and compliant shredding services. We offer commercial shredding and residential shredding solutions, including one-time purge shredding and scheduled shredding pick-up services. Call us at 610-692-TEAR (8327) or complete the form on this page. We’re here to assist you during Fraud Awareness Week with all your shredding needs.

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