October is cybersecurity month and it is always a good idea to review best practices and stay up-to-date with current trends and schemes. Below we share cybersecurity tips and reminders for your online activity in an effort to mitigate vulnerabilities and avoid security threats.
As always, if you have any questions, please contact your client relationship manager.
1. Unsolicited phone calls – A primary red flag for cybercrime is when an individual receives an unsolicited call from a scammer pretending to be an associate of a legitimate business or organization asks for sensitive information such as that person’s log in information and password, etc. Remember, your bank, custodian or other financial institution will never contact you and ask for these details. If you receive a phone call that you think is fraudulent, hang up and call the main number for the organization and explain your experience.
2. Urgency and fear tactics – Bad actors can be convincing and when they increase the fear and threats they can manipulate individuals into releasing sensitive information, linking bank accounts and/or transferring money remotely. If you feel you are being targeted, pause and look at the facts as you know them and then reach out to your financial client relationship manager or a law enforcement agency if necessary.
3. Strong passwords – Create unique passwords with different combinations of letters, numbers and upper- and lower-case letters and special characters. Avoid using common and easily guessed information such as your child’s name or your birthdate. Additionally, steer away from reusing the same password for multiple websites as that increases the probability it will be hacked.
4. Update devices and software – When you receive a notice from your operating system, your web browser or the applications you use regarding a planned update, be sure to accept the update and participate. These revisions and upgrades often address security patches, software glitches and other vulnerabilities. It is important to keep your systems current which will reduce unintended access to fraudulent users.
5. Two-factor authentication – Two-factor authentication is the method of requiring two separate forms of identification to verify a user’s identity. For example, if you are logging on to your bank account from your laptop, you will then receive a text message from the bank that verifies you are in fact your self and then properly logs you in. Two-factor authentication is a simple way to protect your information and thwart bad actors from accessing data. We recommend using two-factor authentication whenever possible, particularly for financial accounts, health records, government agencies and other sensitive information.
6. Stay alert and use your best judgment – The most advanced tool we have to fight cybercrime is our existence as humans and our inherent intuition. Perhaps the email you received shows a company logo that looks outdated or fuzzy. Maybe the sender of the email has an email address that looks similar to an official address but appears to have a misspelling. Or, maybe the phone call you received tipped you off because of the terse manner of the agent speaking or the short timeline they gave you to provide information. Whatever the clues, be aware and proceed with due caution. As the adage goes, when in doubt, don’t act. Reach out to your financial advisor, call your banking institution or contact another trusted person that may help you understand if the request is legitimate, or recognize the intended criminal activity and shut it down.
If you have any questions or concerns, we recommend you reach out to your client relationship manager or email us at info@vcmi.net.
