Local financial advisor talks tips on protecting against identity theft

MILWAUKEE (CBS 58) -- Identity theft has escalated, costing Americans over $12 billion last year due to cybercrime and traditional tactics.

Local financial professional Tony Drake from Drake & Associates joined us on Wednesday, April 24 to share his advice on safeguarding personal information.

Drake emphasized the importance of securing online activities and responsibly handling sensitive documents, pointing out that some people often overlook the risk of identity theft, particularly among older adults approaching retirement, who are frequently targeted by scammers.

He provided a breakdown of preventive measures using the "SHRED" acronym, including strengthening passwords, handling personal ID information carefully, reading credit reports annually, emptying pockets of unnecessary items and securing private information at home.