How Are You Protecting Yourself from Cyberattacks?

Written by: Dave Clarke, Director of Operations & Chief Compliance Officer

As the days grow shorter, we at the Bouchey Financial Group want to bring your attention to the very important issue of Cybersecurity. Since the pandemic began, the FBI has reported a 300% increase in reported cybercrimes (TheHill, 2020). To help protect and educate the public, we have selected September as our Cybersecurity Prevention and Awareness Month.  Over the course of this month, we will be releasing accessible materials regarding the importance of Cybersecurity in the form of blogs, downloadable tips, a webinar and more. We encourage you to read these five tips on proactive ways you can protect your wealth and information. If you have any questions, please feel free to contact us to discuss this topic further.

 

1. Safeguard your Financial Accounts
   • Proactively enroll in an identity theft protection service or periodically check your credit report with free resources like AnnualCreditReport.com.
   • Review all your credit card and financial statements as soon as they arrive or become available online. If any transaction looks suspicious, immediately contact the financial institution where the account is held.
   • If you see any unauthorized activity, promptly contact your financial advisor and other financial institutions. We also suggest you submit a complaint with the Federal Trade Commission (FTC) by calling 1-877-ID-THEFT (1-877-438-4338) or online at https://www.ftccomplaintassistant.gov/.
   • Never send account information or personally identifiable information over email, chat, or any other unsecured channel.
   • Suspiciously review any unsolicited email requesting personal information. Further never respond to an information request by clicking a link in an email. Instead, type the websites’ URL into the browser yourself.

 

2. Manage Your Devices
   • Keep technology updated. Install the most up-to-date antivirus and antispyware programs on all devices (PCs, laptops, tablets, smartphones) and update these software programs as they become available. These programs are most effective when users set them to run regularly rather than just running periodic scans, which may not provide maximum protection to your device.
   • Access sensitive data only through a secure location or device; never access confidential personal data via a public computer, such as in a hotel or cybercafé.
   • Keep software patched. Many updates are made to resolve recently identified security risks.
   • Do not install pirated software. It often contains security exploits.
   • Frequently back up your data in case of ransomware attacks.

 

3. Password Protection
   • Consistently change passwords and avoid using common passwords across a range of financial relationships.
   • Consider using a password manager program or 2-factor authentication. These programs help maintain complicated passwords and provide an additional layer of protection.
   • Never use your social security number in any part of your login activity.
   • Avoid storing passwords in email folders.

 

4. Surf the Web Safely
   • Do not connect to the internet via unsecured or unknown wireless networks. Examples are public locations like hotels or cybercafés. These networks may lack virus protections, are highly susceptible to attacks, and should never be used to access confidential personal data.

 

5. Protect your email accounts

• • Delete any emails that include detailed financial information beyond the time it’s needed. In addition, continuously assess whether you even need to store any personal and financial information in an email account.
  • Use secure data storage programs to archive critical data and documents.
  • Review unsolicited emails carefully. Never click links in unsolicited emails or in pop-up ads, especially those warning that your computer is infected with a virus requesting that you take immediate action.
  • Contemplate establishing separate email accounts for personal correspondence and financial transactions.

 

Helpful Links

Federal Trade Commission (FTC): https://www.ftccomplaintassistant.gov/

Free Credit Report:  AnnualCreditReport.com

 

Sources

TheHill. (2020, April 16). FBI sees spike in cyber crime reports During coronavirus pandemic. TheHill. https://thehill.com/policy/cybersecurity/493198-fbi-sees-spike-in-cyber-crime-reports-during-coronavirus-pandemic.