Protect Your Money and Identity

Understanding how to protect your money and identity is an essential component of financial wellness. Developing habits that safeguard your assets and personal information helps prevent fraud, theft, and costly errors. Learning these skills gives you confidence to navigate financial decisions and build a secure future.

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Key Ideas

• Watch out for companies that charge you for scholarship applications, help with student loans, or to file the FAFSA. Free help is available from FAME.
• Shred financial documents before discarding, including credit card offers that you receive in the mail. Take advantage of paperless billing.
• Secure and password-protect your smartphone and computer and install antivirus software. Always use strong, unique passwords, and do not click on links in unsolicited/unknown email messages.
• Hold your mail at the post office when you’re away.
• Use caution when shopping or banking online and when sharing information on social media.
• Monitor your financial information, including your bank statements and credit report, and act quickly if you suspect identity theft.

Activities

Learn more about how to protect your identity:

• Federal Trade Commission (FTC)
  Think of the FTC as a kind of referee for the marketplace. It’s an independent part of the U.S. government that helps make sure businesses play fair and that your rights as a consumer are protected.
• Consumer Financial Protection Bureau (CFPB)
  The CFPB is an independent U.S. government agency established to ensure banks, lenders, and other financial companies treat you fairly.
• Maine Bureau of Consumer Credit Protection (BCCP)
  The Maine BCCP oversees the consumer finance industry in Maine. The Bureau protects consumers by conducting compliance examinations, issuing licenses, responding to consumer complaints, and providing consumer education and outreach.
  • Identity Theft
  • Scams