Protecting Your Finances After Online Shopping Season: What to Do If You Spot a Scam
After a busy online shopping season, many people take a closer look at their bank and credit card statements — and sometimes notice activity they don’t recognize. Unfortunately, increased online shopping also brings increased risk of scams, phishing attempts, and identity theft.
While prevention is always the goal, knowing how to respond if something feels off can make a meaningful difference.
The team at Portfolio Advisors Inc. recently shared guidance on ABC30’s Watching Your Wallet to help individuals take practical steps to protect their credit and financial security. Here are key actions to consider if you suspect fraud.
Act Quickly if You Notice Suspicious Activity
If you believe you’ve been targeted by a scam, time matters.
One of the first steps is contacting the major credit bureaus to report the situation. They can place alerts on your file and guide you through additional protective measures. Acting promptly can help limit further unauthorized activity.
Secure Your Accounts and Devices
Many scams begin with compromised passwords or unsafe links. If there’s any concern about fraud, it’s wise to strengthen your digital security right away.
Consider:
- Updating passwords across financial and personal accounts
- Using strong, unique passwords for each login
- Enabling multi-factor authentication when available
- Running malware and virus scans on your devices
These steps help protect sensitive information and reduce future risk.
Consider a Credit Freeze
A credit freeze is one of the most effective ways to guard against identity theft.
Freezing your credit restricts access to your credit report, making it far more difficult for someone to open new accounts in your name. The good news:
- A credit freeze does not affect your credit score
- You can temporarily unfreeze your credit when applying for a loan or credit card
- The process is typically quick and manageable
For many people, this added layer of protection offers real peace of mind.
Proactive Habits Go a Long Way
Even small precautions can reduce your exposure to scams.
Helpful habits include:
- Being cautious of “too good to be true” deals
- Shopping only on trusted, secure websites
- Monitoring accounts regularly
- Avoiding public Wi-Fi for financial transactions
Consistency with these habits can significantly strengthen your financial security.
Financial Security Is Part of Financial Planning
Financial planning isn’t just about growing wealth — it’s also about protecting it. Safeguarding your credit, accounts, and personal data helps preserve the progress you’ve worked hard to build.
If you have questions about protecting your financial life or want guidance on strengthening your safeguards, our team is always here to help.
Portfolio Advisors Inc. is grateful to ABC30 and Vanessa Vasconcelos for spotlighting this important conversation in their Watching Your Wallet segment and helping educate couples throughout the Central Valley about building strong, transparent financial habits.
For more financial tips and planning resources, visit our Knowledge Center.
