June is National Safety Month… a perfect time to safeguard your finances from hackers.
Cybercriminals are constantly devising new methods to exploit vulnerabilities and steal your hard-earned money. Vigilance and a healthy dose of skepticism are your best defenses in the fight against cybercrime.
Let’s explore common cyber threats and effective strategies we can use together to protect you, your family, and your nest egg.
Phishing: The Bait and Switch
Phishing emails and texts are pervasive threats. These messages often appear to be from legitimate sources like your bank, credit card company, or even us. They create a sense of urgency to click on a link or download an attachment that infects your device with malware or directs you to a fake website designed to steal your login credentials.
How to defend yourself:
| Be cautious with links and attachments: Never click on suspicious links or download attachments from unsolicited emails or texts, even if they appear to be from our team. Contact us directly to verify the communication. | |
| Scrutinize website addresses: Look for typos or inconsistencies in URLs. Legitimate websites typically use “https://” and have a security lock symbol in the address bar. | |
| Open communication: Keep us informed about any changes to your personal information, such as your phone number, email address, or physical address. |
Malware: The Hidden Thief
Malware, or malicious software, can be downloaded unknowingly when clicking on infected links or opening attachments. This software can steal your financial information by capturing keystrokes or monitoring your online activity.
Stay a step ahead:
| Antivirus and anti-malware software: Maintain updated antivirus and anti-malware software to detect and remove threats on your devices. | |
| Beware of free downloads: Be cautious when downloading software from unknown sources. Stick to reputable vendors for your applications. |
Unsecured Networks: A Free Buffet for Hackers
Public Wi-Fi networks can be hotbeds for cybercrime. Hackers can easily intercept data transmitted on unsecured networks, including your login credentials and financial information.
Public Wi-Fi security tips:
| Avoid sensitive transactions: Refrain from accessing your bank accounts, making online purchases, or entering any personal information while using public Wi-Fi. | |
| Consider a VPN: For added security, consider using a Virtual Private Network (VPN) that encrypts your data while on public Wi-Fi. |
Strong Passwords and Multi-Factor Authentication:
Your Digital Bodyguards
Weak passwords are like leaving your front door open or your car unlocked. Hackers can easily crack simple passwords.
Fortify your accounts:
| Sophisticated Passwords: Use strong, unique passwords for each online account. Consider using a password manager to generate and store complex passwords securely. | |
| Multi-factor authentication (MFA): MFA adds an extra layer of security by requiring a second verification factor, like a code sent to your phone, before accessing your account. | |
| Confirm everything: We’ll call you to confirm any email requests regarding moving money, trading securities, or changing account information. Never approve such requests through email alone. Consider establishing a verbal password, or a secret phrase only we know, to further verify your identity during phone calls. |
Be Vigilant: Monitor Your Accounts Regularly
Early detection can minimize damage. Regularly monitor your bank statements, credit card reports, and online accounts for any suspicious activity.
Stay informed:
| Financial institution updates: Sign up for alerts from your financial institutions to receive notifications about suspicious activity on your accounts. | |
| Stay current on scams: Educate yourself about the latest cyber threats and scams. Reputable government agencies like the Federal Trade Commission provide valuable resources. |
By following the tips above, you can significantly reduce your risk of financial fraud. If you are overwhelmed by cybersecurity or perhaps have fallen victim in the past, simply reply to this email with your questions. We’re always here to support you.
Make financial safety a priority this National Safety Month and beyond.
