ID Theft: Who Are You Going To Call?
Financial Services Professionals must help their clients protect and monitor their credit. This is a best practice. Only then can they help Clients build and protect their wealth. A bad credit or a bad credit report could hamper wealth building efforts. A bad credit score attracts higher interest and loans rates. This cause the client to pay more for the use of credit. A bad credit history could prevent you from being promoted as you are perceived as a bad risk.
Protect Client Data...Keep The Bad Guys Away!
The trust you earn from clients is the best compliment they can give you. Protecting clients’ privacy and safeguarding their personal and financial information had better be your highest priority. Any “Client Centric” information you receive or handle must be held in the strictest confidence. This would include:
- Information collected such as name, mailing address, telephone number, e-mail address and fax number; and to identify who the client is, including Social Security number; employer name and address.
- Information used to assess investment experience or risk tolerance such as annual income, net worth, and credit reports to assess your financial position.
- If your client used your company (ies) internet website(s), you are responsible for protecting that information also. This includes demographic information including gender, birth date, education and occupation.
- If you share client information with any third party without prior approval, you may be in violating the client privacy. So watch what you share with partnerships and alliances through joint marketing and affiliate agreements.
- Always password protect areas of your computer that handles client data. If you way from your desk please shut your computer off. Also please use login passwords to prevent some one from using you computers while you are away.
- Financial Services Professionals should be fully aware of the double-sided sword of email. Email & Instant Messaging
It is imperative that you notify your compliance department and compliance officer at once if your laptop or desktop computer is stolen. Please be advise that you really need to know your company(ies) compliance requirement and best practices and know them well. Lets keep our clients safe. We spend tremendous time and energy helping our client build and manage their wealth. We must also do our part in keeping the bad guys away! Also file a complaint and notification with the
Federal Trade Commission.
Learn About ID Theft, Get Resources and ID Theft Protection
Federal Agencies That Can Help:
National White Collar Crime Center - NW3C
Other Helpful Sources To Keep Us Safe