Protecting your personal information—and therefore your financial accounts and titles to real assets—doesn’t have to be complicated or expensive. This post highlights five no-cost tools you can use to strengthen your personal security stay informed, in control and one step ahead.
Each of them adds a layer of defense around your financial and personal information, reducing your risk of becoming a victim of fraud and unauthorized account access.
Create a Property Fraud Alert
While relatively rare compared to other forms of identity theft, title theft—also known as deed theft or real estate property fraud—is a concern shared by many property owners. According to the National Association of Realtors, “Title fraud, or deed theft, occurs when someone illegally transfers the title or deed of a property without the owner’s knowledge. Fraudsters often use forged documents or fake IDs to record documents with the county recorder, transferring the property to themselves, or falsely represent themselves as the owner to list and sell a property.”
Although there are paid services that advertise protection against this risk, many counties across the United States now offer free property fraud alert notification services.
In Wisconsin, the Register of Deeds Association has compiled a list of counties that offer a property fraud alert or land notification system (see: Links to Wisconsin County Register of Deeds office Property Fraud Alert). After enrolling in your county’s program, the system will notify you of any newly recorded documents so you can review them and confirm they are legitimate and not part of a fraudulent attempt. If you own property in multiple counties, you must enroll separately in each county’s program.
- Establish a Credit Freeze
Establishing a credit freeze is a no-cost way to help protect yourself against identity theft and fraud without impacting your credit score. When your credit is frozen, you prevent anyone from opening a new line of credit in your name, even if they have access to your Social Security number or other personal information.
There are three major credit bureaus, and a freeze must be established with each bureau separately. This can be done online, by phone, or by mail:
Minors can also be victims of identity theft. While the specific requirements vary by bureau, Experian, Equifax, and TransUnion all offer processes that allow parents or legal guardians to place a credit freeze on a child’s credit file.
Once a credit freeze is in place, you may temporarily lift it if you need to have your credit checked, for example, when applying for a new credit card or financing a vehicle. Be sure to ask your lender which credit bureau(s) they use before lifting the freeze.
- List a Trusted Contact With Your Financial Institution
Establishing a trusted contact on your investment accounts is a free and effective way to help you and your financial institution protect your accounts from potential fraud. The individual you name as your trusted contact does not have the same authority as someone designated under a Power of Attorney. Instead, a trusted contact serves as a point of contact if you are unreachable and there is concern about possible fraudulent activity involving your accounts.
A trusted contact cannot act on your behalf or initiate transactions. Rather, they are someone your financial institution may contact to help confirm information such as your current contact details, the contact information for your designated Power of Attorney (if applicable), and general information regarding your health status or whereabouts. This should be someone you trust to communicate appropriately with your financial institution if needed.
- Use Multifactor Authentication
Multifactor authentication, also known as two‑factor authentication, is a free security measure that requires two or more forms of verification to confirm your identity before accessing an online account and should be used whenever it is available. Typically, when multifactor authentication is enabled, you first sign in using your username and password and are then prompted to complete a second step of verification, such as entering a one‑time code sent by text or email, or using a biometric method like Face ID.
This added layer of security helps protect your account even if your password has been stolen or compromised.
- Use a Password Manager
A password manager is a software tool that helps you generate strong, unique passwords and securely store and manage them across all the systems you use. With most password managers, you only need to remember one strong master password to access your saved passwords. It is also advisable to regularly update your passwords rather than keeping the same ones year after year.
Make sure your master password is strong. Consider using a long phrase that includes a combination of letters, numbers, and symbols. For example, a password like W!sc0ns!n!sTh3Da1ryStat3# is based on an easy‑to‑remember phrase (“Wisconsin is the dairy state”) while incorporating uppercase and lowercase letters, numbers, and symbols.
By memorizing one strong password and using a password manager, you can avoid the temptation to use the same one or two passwords across multiple accounts because they are easier to remember.
Start Today
There's no question that security requires effort, but free, easy-to-use tools reduce the toll. Pick one of those tools I mentioned and start today. Taking a few proactive steps now can reduce your risk, increase your peace of mind and put you more firmly in control of your security tomorrow.
