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Terry Savage: 10 Ways to Protect Yourself in the Digital Financial World
- On March 25, 2024, President Trump issued an executive order directing all federal agencies to discontinue the use of paper checks and fully adopt electronic payment methods by the end of September 2024.
- This update addresses the growing trend of secure digital filing, as the vast majority—over 95%—of tax submissions are completed online, even though many older adults still prefer receiving paper checks for safety reasons.
- Scammers increasingly use SIM card cloning to intercept two-factor authentication messages, targeting vulnerable individuals who may share codes and risk financial fraud.
- Financial adviser Terry Savage advises users to understand and safely manage digital tools like Venmo and PayPal, urging younger adults to help older generations adapt to this shift.
- The federal transition to digital payments aims to reduce fraud, inefficiencies, and costs, signaling that everyone must fully engage with secure digital financial practices.
17 Articles
17 Articles
Montana Standard
Terry Savage: 10 ways to protect yourself in the digital financial world
And, like it or not, you’ ll soon be forced to get used to it— especially since the IRS will soon no longer accept or pay out with paper checks! On March 25, President Trump signed an executive order mandating…
Federal government says paper checks have got to go. What to know
The federal government is phasing out paper checks in favor of electronic payments this fall, and financial experts both welcomed and cautioned the move. This story also appeared in Detroit Free Press The shift could have “serious unintended consequences” for people who rely on paper checks, said Jasmine Carson, executive director of empowerment and integration for the Wayne Metropolitan Community Action Agency, in a…
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