It’s Tax Identity Theft Awareness Week!

‘Tis the season for tax returns, rebate checks, and unfortunately… identity theft. This is a common time of the year for scammers to steal the identity of innocent consumers, using it to file fraudulent tax returns and take rebate checks.

In order to help protect consumers and bring this problem into the spotlight, the United States Federal Trade Commission hosts their annual Tax Identity Theft Awareness Week. This year, the observation will run from Monday, January 30th through Friday, February 3rd.

To help the cause, the financial consultants at American Investment Planners, LLC have put together this short list of tips to help you keep your identity safe:

• Get an Identity Protection PIN from the IRS.
• Check your financial statements every month – keep an eye out for unfamiliar charges.
• Monitor your credit reports on a regular basis.
• Don’t release any information to callers claiming to be with the IRS.
• Know the warning signs of identity theft.
• If you suspect you have been a victim of identity theft, file a report with the FTC.

Want to learn more about Tax Identity Theft Awareness Week? All week long, the FTC, IRS, Department of Veterans Affairs, AARP Fraud Watch Network, and others will go online to discuss tax identity theft, IRS impostor scams, cybersecurity, and identity theft recovery. Here is a schedule of their events:

• Monday, January 30th: Identity theft for tax professionals webinar at 2 P.M.
• Tuesday, January 31st: General tax identity theft Twitter chat at 3 P.M.
• Wednesday, February 1st: Tax identity theft for service members and veterans Twitter chat at 11 A.M.
• Wednesday, February 1st: Tax identity theft for services members and veterans webinar at 1 P.M.
• Wednesday, February 1st: Protecting sensitive business and customer information webinar at 4 P.M.
• Thursday, February 2nd: Tax identity theft recovery steps webinar at 2 P.M.

American Investment Planners, LLC offers professional financial planning services to individuals and families across the country. Whether you need help filing your taxes or deciding how to spend your rebate, our financial advisors are here to help.

To schedule an appointment with one of our consultants, please call (516) 932-5130 or email info@americaninvestmentplanners.com.

5 Items You Should NEVER Keep In Your Wallet

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

No one ever wants their wallet to be stolen or lost, but since anything is possible at any moment, the least we should all do is be smart about what we carry with us - losing a few dollars is one thing, but losing confidential information is another (did you know that more than 40% of identity fraud cases are a result of stolen/lost wallets and purses?).

The next time you have a minute to spare, go through your wallet and take these items out immediately if you're currently carrying them:

1. Your social security card. Never, ever, ever carry your social security card with you in your wallet - if an identity thief gets a hold of this, they can basically get a hold of everything. 
2. Your birth certificate. Your birth certificate is just as important as your social security card and contains vital information that only you should have your hands on. That said, unless you're traveling or heading somewhere that requires you to present your birth certificate as proof of identity, you'll want to leave this home.
3. Blank checks. Some people prefer to write checks instead of using cash or credit cards and that's okay, but that doesn't mean you should carry a ton of blank checks with you all the time. If someone steals or finds these, they can easily start taking money out of your account.
4. Additional credit cards. Having more than one credit card is normal for most people, however, you shouldn't have all of them on you at once. Not only does this give identity thieves more of your money to work with, but it makes the process of canceling credit cards and closing accounts harder for you if something should happen.
5. Passwords. And bank account numbers, and pin numbers. If you need to write these down to help yourself remember, store that piece of paper in a safe place at home. Then, in situations where you know you'll need that information (such as if you're about to head the ATM), review it before you leave the house and don't bring it with you.

Remember, the more accessible your information is, the easier it becomes for identity thieves to utilize, so you must always be cautious and make sure you're doing everything you can to keep yourself protected!

American Investment Planners LLC is an independent financial planning firm that offers services such as retirement planning, estate planning, portfolio and asset management, and taxes and accounting. To learn more, please call (516) 932-5130 or email info@americaninvestmentplanners.com.

Tips for Staying Safe When Banking on Mobile

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

Long gone are the days when cell phones were just used for calling and texting - now, they're used for social media, as a GPS, for travel, for music, and so much more! With apps available for nearly everything you can imagine, something else many people use their mobile phones for is online banking.

Now, although developers work to make their apps secure, anyone who uses mobile technology for the purpose of making financial transactions or monitoring financial accounts still needs to be cautious of what they're doing and when/where they're doing it. This, of course, is for the purpose of protecting oneself from identity theft. Here are a few things to remember:

1. Avoid public Wi-Fi. If you're going to be logging into an app that stores your personal financial information, make sure you're on a secure network. Using public Wi-Fi in places such as hotels and coffee shops puts your information at greater risk of being intercepted.
2. Use your bank's app. Rather than log into your bank's website via your mobile browser, download the app that they've developed for mobile banking purposes. Sources say that using the app can protect your financial data since mobile browsers tend to be less secure.
3. Turn off automatic logins. Storing passwords on your mobile applications makes things easier for you, yes, but it also makes it easier for people to access your information if your phone is ever lost or stolen. That said, always make sure that your settings are set to require a password when opening up mobile banking applications (and all other apps, for that matter).

Should you find that you take all of the right steps and your information still winds up in the wrong hands, here are some immediate actions you should take.

American Investment Planners LLC is an independent financial planning firm that offers services such as retirement planning, estate planning, portfolio and asset management, and taxes and accounting. To learn more, please call (516) 932-5130 or email info@americaninvestmentplanners.com.

How to Properly Get Rid of Financial Documents

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

When you receive junk mail or have paperwork that you no longer need, what do you usually do with it? If you answered "throw it out," you're likely not alone - tossing old papers or unwanted mail into the trash is common practice for most people. However, the same doesn't apply to financial documents or anything else that has confidential information on it. 

As your trusted financial planner, we want to share with you the best way to get rid of any paperwork that you don't want others to get a hold of - the answer is: shred it. From tax information to bank statements, canceled checks, mortgage paperwork, paychecks and more, anything that has your personal information on it belongs in the shredder. While yes, some documents may seem safe to throw in the trash, the fact of the matter is that anything you don't want people to get their hands on should be shredded. Let us remind you of why:

A common identity theft attack is known as dumpster diving, and the act is carried out exactly as it sounds - thieves literally go through trash cans and dumpsters in search of documents with people's personal information on them. Often these thieves will look for documents such as credit card bills, utility bills and bank statements, which is why it's so important to avoid throwing these in the trash (you should even shred things like personalized credit card offers). 

While you may feel confident that no one is going through your personal trash can, you don't know where your garbage actually winds up, which is why you should avoid the trash can altogether when it comes to your personal information.

Even if you've thrown out sensitive information like this in the past, what we ask is that from here on out, you start shredding everything that can give an identity thief clues about who you are! If you have any further questions about how to dispose of financial documents or would like more information about identity theft and how you can protect yourself, please call (516) 932-5130 or email info@americaninvestmentplanners.com today.

Immediate Steps to Take if Your Identity Has Been Stolen

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

Finding out that your personal information has been stolen can be pretty surprising and overwhelming, and in a state of shock, it's not unusual to freeze up and forget what you should do next. But since identity theft is an issue that needs to be addressed immediately, it's important that you know how to act so that you stop your attacker before things get out of hand.

Below, learn five crucial steps to take if you suspect that your identity has been stolen:

1. Contact your bank and/or creditors.
Ultimately, you must contact any financial institution that you have ties to. If it's your credit card that has been affected by the attack, contact that specific creditor to have your account frozen or shut down completely. Similarly, if it's your bank account that has been compromised, contact the bank for information about unauthorized withdrawals and what steps can be taken next to prevent future suspicious acts, such as closing the account altogether.

2. Request that a fraud alert be placed on your credit report.
There are three credit reporting companies that have information about your credit history - Equifax, Experian and TransUnion. To place a fraud alert on your credit report, contact one of these companies with your request - they should let the other two companies know on your behalf, but confirm that they will relay the message just in case. This is extremely important to do because it can make it much more difficult for your attacker to open additional accounts using your name. Note: it does not cost anything to put a fraud alert on your credit report, and it will last for 90 days.

3. Review your credit reports.
By placing a request for a fraud alert, you are entitled to receive a free copy of your credit report from each of the three credit reporting companies. Once you have it, check it over for any remarks that look unusual, such as hard inquires you did not authorize or accounts that you did not open. Should you notice any of these, your next step is to reach out to the appropriate company/organization based on the information you see.

4. Freeze your credit reports.
When the credit reporting companies place a credit freeze on your file, it means that creditors cannot pull your credit report. This is helpful because, similar to what we mentioned in point #2, it prevents your attacker from opening any accounts in your name that require a credit pull. 

5. Make an identity theft report.
To file an identity theft report, the first step is to submit the theft to the FTC. The copy that you print out for yourself will serve as your Identity Theft Affidavit. Next, contact your local police department to file a police report - make sure to bring your Identity Theft Affidavit with you, and don't forget to ask the police for a copy of your report. Your final identity theft report is complete once you attach your Identity Theft Affidavit to the police report you obtained/filed.

For more information about the steps to take after learning you are a victim of identity theft, check out this guideline from the Federal Trade Commission.

American Investment Planners LLC is an independent financial planning firm that offers services such as retirement planning, estate planning, portfolio and asset management, and taxes and accounting. To learn more, please call (516) 932-5130 or email info@americaninvestmentplanners.com.

How to Protect Yourself From Identity Theft

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

Imagine how it would feel to find out that someone has stolen your personal information - credit card numbers, bank account numbers, social security numbers, even passwords - and is using it for their own personal gain? Identity theft is a serious issue for a number of reasons, but one of the major reasons you need to protect yourself is because having your identity stolen can hurt you financially. For example, someone could rack up your credit card bills, leaving you financially responsible and potentially damaging your credit at the same time.

We're certainly not trying to scare you, but we do want to stress as much as possible how important it is to be careful with your information. That said, here are some ways that you can work on protecting yourself from identity theft:

Update your passwords regularly.
And while you're at it, make sure that you aren't using the same password for multiple websites and accounts. Someone trying to guess your password will start with the obvious such as your name, your birthday, your pet's name, or your parents' name, so stay away from using these. Safe passwords are those that are strong and hard to figure out - include a mix of numbers, letters (lowercase AND capital) and special characters.

Keep your information to yourself.
Never post personal information about yourself online for everyone to access - especially not on social media. At the same time, you should also never share passwords with anyone, even if you're confident that they won't tell. 

Don't open suspicious communications.
Sending emails is one way that hackers try to get your information, so if you notice something suspicious in your inbox, don't open it and delete it. If you do open an email that looks safe at first, but then the contents make you think twice, don't click on any links or respond with information if asked for it.

Make sure your documents are secure.
With technology so readily available, many people choose to store important information on their computers. However, this should only be done when using a secured network, and if this is something you do, you should also have the right firewall and anti-spyware software installed. 

Check your credit report.
If you are not receiving a copy of your credit report once a year, you need to start now. This is because requesting a copy of your report gives you the opportunity to look over it for any potential errors or marks that seem suspicious. If something does seem wrong, this is your chance to correct it and let institutions know that someone is using your information.

Last, but certainly not least, shred all confidential documents. If you plan to discard any paperwork that has your personal information on it (even information as basic as your name and birthday), it must be shredded to prevent anyone from accessing it - remember, identity thieves will look in trash cans for information.

To learn more about how you can protect yourself from identity theft, feel free to give us a call at (516) 932-5130 or send an email to info@americaninvestmentplanners.com. Our advisors would be happy to work with you on keeping your information secure!

Warning Signs That Your Identity Has Been Stolen

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

Would you be able to tell if your identity has been compromised? Considering just how damaging an identity theft attack can be to your current personal and financial situations, being able to recognize if your identity has been stolen is key.

To help you out with this, below we're sharing some of the most common warning signs that suggest someone has taken off with your identity:

1. Your bank account is/was compromised. If you notice a withdrawal that you know you didn't make, or if there are remarks on your bank statement that you can't explain, someone is likely using your account. Since you'll want to report unusual findings on bank statements immediately, it's important that you check in on actions taken (checks cashed, withdrawals, payments made, etc) regularly.
2. Your credit report has errors on it. When we say errors here, we are referring to remarks that you know don't apply to you - for example, a credit check or an added account that you know you did not authorize. The good news here is that you can request a copy of your credit report once per year or use websites like Credit Karma to keep an eye on things.
3. Suspicious charges are applied to your credit card. Suspicious transactions on your credit card are an obvious sign that someone has specifically stolen your credit card information. If this happens on one of your credit cards, check your other credit card's activity to see if your information was taken for all of your current accounts. Should you notice transactions being posted that you did not make, contact your credit card company immediately to dispute the charge.
4. You're being held responsible for unusual debts. Receiving phone calls or notices from debt collectors about debts that are not yours are also surefire signs that someone has used your personal information to make purchases, take out a loan or perform a similar act.
5. You aren't receiving your mail. Unless you have signed up to go paperless or are in another program where you won't receive paper bills, statements and notices, you should be receiving documents like these in the mail for any applicable accounts - credit cards, bank accounts, etc. If you suddenly stop receiving these out of the blue, chances are someone has messed with your information. 

Should you ever experience any of the above, the most important thing to do is to notify the appropriate person/institution right away - for example, if it's your credit card that has suspicious transactions, get in touch with the company immediately to let them know of your concern. Communication in situations like this is critical, and you always want to be sure that you reach out to someone about your concerns sooner rather than later.

For more information about identity theft, be sure to check out our other blog posts and connect with us on Facebook, Twitter, LinkedIn and Google+. More information is also available by contacting our advisors at (516) 932-5130 or via email at info@americaninvestmentplanners.com.