E CS 25

Risk Management

There are various strategies to help protect personal assets and wealth.

Content Statement

25. Steps can be taken to safeguard one’s personal financial information and reduce the risk of loss.

Content Elaborations

Identity theft is one of the most rapidly growing white collar crimes in America. Safeguarding one’s personal information and one’s financial information are responsibilities of each individual.

This would include:

  • Safeguarding Internet passwords and financial account numbers;
  • Shredding information that includes personal financial data;
  • Keeping accurate records in secure locations of all account numbers;
  • Regularly monitoring all financial accounts for external intrusions;
  • Regularly checking one’s credit report for any irregularities;
  • Limiting any specific financial information requested online or over the phone;
  • Safeguarding social security numbers as well as credit card and banking account information; and
  • Regularly backing up data in financial software.

Expectations for Learning

Create strategies for protecting one’s personal financial information.