Have you ever been a victim of fraud or identity theft, where some of your personal documents were stolen and the data used fraudulently? Today, with online shopping and social media being a way of life, you cannot afford to be complacent about protecting your financial information. In today’s ‘virtual’ world, we are much more vulnerable than ever and must be more vigilant in safeguarding our finances. Here are some tips to minimize the risk or damage of this happening to you.
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Are your sensitive documents kept securely,
Where are your certificates and other important documents? Are they lying around in unlocked drawers or are they locked away securely in a fireproof safe? Apart from securing the physical documents, scan and secure them electronically.
It is not enough to just casually discard old financial statements; they can become prime target for thieves. Invest in a paper shredder; a personal one for home use is not very expensive and with this you can effectively destroy documents rather than simply tearing them up.
Secure your devices
Are your smartphone, laptop or other devices password protected? If your password or PIN is compromised, this could lead to devastating losses should someone gain access to your financial information. Do not share your passwords or PINs with anyone. If you think you might forget them and absolutely need to write them down, then store them securely and change them periodically using different passwords for different accounts or devices. Set strong passwords; be creative with your choice and avoid easy-to-guess passwords such as birthdays and names of family members.
In addition, secure your devices with a firewall and security software packages that have anti-virus and anti-spam features. If you are technologically challenged, get an IT specialist or a tech savvy friend that you trust to help you download and install this.
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What’s in your wallet or handbag? Sensitive documents should be kept securely in a bank deposit or a home safe, particularly those with your name and address on them. Make a photocopy of your current cards, driver’s license, and any important documents; these copies will come in handy if you need to cancel quickly or need to order replacements. Have your bank emergency numbers handy so that you can make those calls if you need to.
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Beware of scams
Your bank and other legitimate companies will never request for sensitive information such as bank details, passwords and PINs by telephone or email; these are usually fraudsters attempting to defraud you. Contact your bank directly and report such incidents.
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Do you use public computers?
Avoid using public computers for sensitive transactions as your information could be compromised. If you do use a public computer, be sure to clear your history before you log out completely, otherwise other users can intercept your information. Free wireless internet hotspots are often not at all secure. Use secure websites for your online shopping. The address will usually start with ‘https’ and there should be a key or closed padlock in the status bar. Shop only with trusted retailers.
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What are you sharing on social media?
Do you share personal information on social media, such as your address or telephone number?  It seems so natural to put seemingly innocent information about yourself and your family out there but it makes it possible for fraudsters to authenticate your identity. Geo-tagged photos inform people of exactly where you are; this could expose you and your family to crime.
Even if you put all these measures in place, there is no guarantee that your financial information will be completely secure. However, by protecting yourself, you limit access to sensitive information and protect your personal finances from fraud.
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For more personal finance tips, follow Money Matters With Nimi on Twitter: @MMWITHNIMI and Facebook: MoneyMattersWithNimi

IS YOUR INFORMATION SECURE?

It is hard to imagine that the regal-looking, Zimbabwe-born Margaret Hirsch, dressed in a power suit and elegantly going about her business, was a shorthand typist 40 years ago.
“I knew when I got fired for being pregnant, I would never work for another boss again and I never have. I had only two assets to my name: my brain and my hands,” says Hirsch.
At about the same time, her husband Allan, who was a refrigeration mechanic, saw an opportunity in selling discounted appliances, and together they started Hirsch’s. Thus began their home appliance empire in South Africa.
Today, this multiple award-winner is the Chief Operations Executive and co-founder, with her husband, of Hirsch’s, the appliance, electronic and airconditioning retail giant – from where many a South African has purchased his first fridge or oven.
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There are 12 Hirsch’s branches in the country’s KwaZulu-Natal, Gauteng and Western Cape provinces, and five concept stores. Hirsch also runs international businesses and charities like the Johannesburg School for the Blind and three nursery schools in Durban for underprivileged children.
Hirsch says Hirsch’s was built on a philosophy rather than a strategy. Helping others, by giving them the opportunity to be the best they can be and becoming self-sufficient, has paid off as Hirsch has exceeded their R1 billion ($92 million) target in 2012 after starting the business with only R900 ($354).
“It is the people of Hirsch’s that has made my journey worthwhile. Every staff member of Hirsch’s has a story. To see how each one of them has developed, and become the person they are destined to be is one of the most gratifying rewards in my life,” she says, in her Meadowdale store in Johannesburg.
The reins of the company are now in the hands of Hirsch’s son, Richard, who is Managing Director. Hirsch counts it as the highlight of her career when her son and daughter Luci joined the business.
This gives Hirsch more time to spend with her four grandsons in Durban, who she visits every week. It is really important to her that her entire family is involved in the business.
Hirsch, who has been married 43 years, says that in order to stay happily married for so long, you must be sure you really love. And she says it has not been difficult working with her husband as they both have clearly-defined roles.
“Allan is responsible for the buying and marketing and I am responsible for the sales and the staff. We very rarely disagree, and we give each other our required space.”
Hirsch is still integrally involved with all aspects of the business despite her busy schedule. A regular speaker at events, she is best-known for women’s empowerment drives and community upliftment projects.
Her drive to empower women stems from her early childhood memories after her father’s death, when she was witness to her mother’s struggles and experienced being poor. She knew then that one day she would have everything she wanted; she dreamed and envisioned herself being wealthy  and empowered.
The Girls With Dignity project that’s close to her heart came about when Hirsch investigated why girls were not attending school. Hirsch and her team realized school girls were absent during their menstrual cycle. Lack of money to buy sanitary pads made it impossible for these girls to attend school when they had their periods.
“Sue Barnes of Durban developed a re-usable sanitary pad and along with various others, I am distributing these to girls throughout Africa. School attendance has improved vastly, as have the marks and pass rates of these girls,” says Hirsch.
Early in her career, despite the struggle to make ends meet in the business and the challenges, she never gave up. Her resolve just grew stronger with each obstacle. The couple once lost R5 million (about $2 million) in one afternoon after being done in by a businessman, but this could not deter them. The few ventures that did not do as well as expected were shut down and they moved on.
The tipping point for Hirsch’s came with the introduction of microwave ovens, and her training at Panasonic in Japan. This led to the setting up of the first independent microwave cooking school in South Africa by Hirsch; and its effect on the business was enormous.
Hirsch is now working on a television show Look up! that aims to give South Africans hope. She realized early in life that as a person’s self-esteem lifted, his or her ability to earn increased too, and that is what she offers her employees.
She has authored many books, including a recipe book for vegetarians and a compilation cookbook from the cooking school days.
She holidays in Zanzibar to relax, enjoys a good lentil lasagne and cherishes time with her family. She also enjoys photography, especially on their family farm in KwaZulu-Natal Midlands. But retire she never will.
“I love what I do. For me, it’s not work, it’s a way of life. I really enjoy helping staff to improve their lives and customers to choose the right appliances and furniture for their homes and am always available to help any time of the day or night,” she says.
Hirsch’s life did not start as a fairytale, but she is proof you can have a fairytale ending if you are passionate about what you do, do it better than everyone else, give more than is expected and be the change you want to see in the world.

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IS YOUR INFORMATION SECURE?

The Typist Who Became The Appliance-Selling Queen