These Common Practices Can Cause Big Trouble for Gen-Y

Millennials are said to make up one of the largest generations in history. They've grown up in a time of rapid technological and economic change. Although credit savvy and more cautious when it comes to making major financial decisions, Millennials are reportedly more susceptible to identity theft and bank fraud. Share these tips with the Gen-Yers in your life if they practice any of these 5 dangerous actions.


1.       Millennials Love To Share… Sensitive Info That Is. Millennials are often quick to share their personal information via text, email, and social media. It goes without saying that keeping personal info (i.e.  Social Security, Credit Card numbers) to yourself is probably the best way to avoid bank fraud. It's ok to be stingy with what information you share!

2.       Debit Or Credit? Millennials tend to use debit cards more than the harder to obtain credit card. Although this can keep you from running into credit card debt, it can also give a thief instant access to the funds in your bank account. Using a credit card for major purchases may not be such a bad idea. Just be diligent in paying off your balances and checking your bank accounts daily.

3.       For The Love Of Wi-Fi. Millennials expect, even demand, the availability of free Wi-Fi in many of the places they frequent. But public Wi-Fi can be a hotspot for fraud and identity theft. It's best to avoid accessing your banking or social media accounts while you are logged into a public network. Consider adding virus protection software on your smartphone for extra security.

4.       iShoppers Beware! Due to advancing technology and fast internet connections, more and more Millennials are making purchases from their smartphones and tablets. Although this provides a quick and convenient way to access goods and services, it also presents a major opportunity for fraud. Just to be safe, make purchases from your desktop. If you still have one!

5.       Sharing Is Caring It's true. Millennials love to share. They share everything from video streaming passwords to their debit cards and personal info. Unfortunately, this puts Gen-Y at greater risk to be taken advantage of, especially by the people they trust. Yes, that includes your family and friends. So, be careful with whom you share your personal information.

To read the full article, Visit gobankingrates.com

Do you suspect that you've been a victim of identity theft or financial fraud? Contact us immediately so that we can offer assistance. Additionally, we offer IDENTITY THEFT SHIELD to help you with the financial implications should you become a victim of fraud.

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