7 Strategies To Guard Your IRA Against Scams

Scam artists are always on the prowl for ways to steal your money and many of the scams they use target people with IRA account. Fortunately, there are several steps you can take to protect yourself from these con artists and their fake checks. Just follow these tips:

As per SoFi experts,“IRA is a broader term of a number of different types of retirement accounts – each with their own function and purpose.”

Protect your financial accounts with strong passwords

Strong passwords are the first line of defense for your IRA. It’s important to use different passwords for each of your financial accounts, and also create a password manager that will help you remember them.

Shred all your sensitive financial documents before throwing them in the trash

  • Never give out your Social Security number over the phone or Internet unless you initiated the call and are sure of who you’re dealing with.
  • Update sentence with anchor: Use caution when giving out personal details on websites, whether it’s for a bank account or anything else. If you find yourself in a situation where you have become unprotected from scams, consulting with a trusted legal team like Townsville Law Firm Connolly Suthers is important.

Keep your financial accounts private

The easiest way to protect yourself from scammers is to not give them any information. The more you know about your financial accounts, the easier it is for someone else to take advantage of that knowledge. Don’t share your account numbers or passwords with anyone.

It’s also important not to leave sensitive documents lying around in public places like coffee shops and parks. This help limits the chances of someone stealing your information.

Never respond to an unsolicited email, phone call or text message about your financial accounts

Don’t respond to unsolicited emails, phone calls or text messages about your financial accounts. You should never respond to an email, text or phone call offering you any kind of investment opportunity that you did not solicit yourself.

Use online security software and update it regularly

Online security software helps protect your computer from viruses, malware, and spyware. It may also help prevent identity theft by keeping your personal information safe and private.

In addition to installing anti-virus software on your computer, you should also install other types of online security software such as a firewall, email encryption programs, password managers, and more.

Don’t believe everything you read on social media sites

The internet is a wonderful tool that allows you to communicate with friends and family from all over the world, but it’s also a great place for scammers to get unsuspecting people to hand over their hard-earned money.

Many of the most common types of scams are usually spread through social media and if you’re not careful, these scams can be very convincing. That’s why it’s so important for you to learn how to spot them before they can take root in your life.

Know how to spot fake checks

It’s important to know how to spot fake checks. If you get a check for more than the amount you are owed, or from someone you don’t know well, it’s best not to deposit it. There are many different kinds of scams that involve fake checks and cashier’s checks. If the check looks like it was issued by a bank but uses an address that doesn’t match up with one on record, this can be another sign of fraud.

So, as you can see, there are many ways to protect yourself against scams. If you follow these tips, it will be much easier for you to tell the difference between fake and real checks and avoid falling victim to an online scam.