7 Secrets for Protecting Your Personal Information When Applying for a Co-op Board Package

Applying for a co-op board package can be an overwhelming experience, as you are required to provide a significant amount of personal information, including your financial records, employment history and personal references. This information is necessary for the co-op board to evaluate your eligibility for membership in their building. However, providing personal identifiable information (“PII”) can put you at risk of identity theft, fraud, and other cybercrimes. 

Here are some tips to safeguard your PII during the co-op board application process:

1. Limit the distribution of your PII. Only share your PII with trusted individuals or entities. Ask the co-op board if they have a privacy policy in place and how they will handle your personal information. Avoid providing your PII to individuals or entities that you are not familiar with, or whose credibility is uncertain.
2. Secure your documents. Keep your PII documents in a safe place, such as a locked cabinet, safe or password-protected digital folder, so that no one else has access to them.
3. Use encrypted communication. Utilize secure communication channels, such as encrypted email or secure online portals, to send your PII documents to the co-op board. Avoid sending sensitive information through unencrypted email or fax, which can be intercepted by cybercriminals.
4. Shred unnecessary documents. Destroy any unnecessary PII documents that you no longer need. Shredding these documents prevents them from being used for fraudulent activities.
5. Monitor your credit report. Regularly check that there are no fraudulent activities or errors in your report. You can obtain a free credit report from the three major credit bureaus: Equifax, Experian, and TransUnion.
6. Use strong passwords. Create strong and unique passwords for your online accounts and change them frequently. Avoid using easily guessable passwords, such as your name, birthdate or phone number.
7. Be aware of phishing scams. Cybercriminals impersonate legitimate organizations to obtain your PII in phishing scams. Always verify the identity of the sender and avoid clicking on suspicious links or downloading attachments from unknown sources.

Follow the tips above to safeguard your information and prevent identity theft, fraud and other cybercrimes. By taking these precautions, you can have peace of mind knowing that your personal information is secure.