Lock down your credit

FRESNO, Calif. (KFSN) -- After the Equifax breach, your finances could be vulnerable for years. Fortunately, Consumer Reports says you can take additional steps right now, to help lock down your money.

First, set-up and activate two-factor authentication on any of your financial accounts that offer it. Including mobile banking, credit cards, and a home equity line of credit.

"It's an important, extra-layer of protection. So it's your password, plus a code, that's texted to your cell phone, that only you have ... or it's your password plus, say, a scan of your fingerprint," said Consumer Reports Money Editor, Margot Gilman.

Next, secure your mutual funds, investment firms are not required to restore assets stolen by hackers.

Two big investment firms, Fidelity and Vanguard, do have reimbursement policies in online hacking cases. But you should check the coverage details with your own investment manager.

"If your investment company doesn't explicitly say that it reimburses stolen funds, consider moving your money elsewhere," said Gilman.

Finally, do not forget the simple move of placing a fraud alert with the three major credit bureaus.

It is free and provides a first-step warning to potential lenders not to open accounts in your name, without taking extra steps to verify it is actually you applying for the credit.
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