As cybercriminals and technology become increasingly sophisticated in attacking and accessing sensitive information, it’s crucial to stay diligent in protecting yourself, your family, and your business from potential threats. Watch the full video to hear Scott explain how cyberattacks have evolved and what you can do to defend yourself:
Don’t Be Fooled — Much of Your Information is (Likely) Online
Over the past decade, numerous cyberattacks have compromised billions of personal records containing sensitive information, including Social Security numbers (SSNs), bank account logins, driver’s licenses, and more. With prominent corporations such as Yahoo!, Equifax, and National Public Data experiencing breaches, it’s likely at least some of your personal information has already been affected or is currently available for sale on the Dark Web. In an increasingly vulnerable environment, it’s important to take a proactive approach to hack-proof your information and finances.
What Are Common Cybersecurity Threats?
There are several strategies cybercriminals use to access your and your family’s personal information. Many of these crimes place the responsibility on the victim to repair the hack, which may involve significant time, money, and energy:
- Credit Card Fraud: Criminals steal your physical credit card or account information to make purchases or access additional data.
- SSN Theft: Hackers use an SSN to open a line of credit or loan, placing the responsibility of repayment on the victim.
- Medical Identity Theft: Criminals get medical care or prescription drugs in your name, potentially affecting insurance premiums or your ability to get coverage.
- Tax Identity Theft: Hackers may access your tax information to obtain your tax refund and other sensitive information.
- Account Takeover: Criminals obtain your password for an email or bank account to transfer your funds or secure additional information.
- Ransomware: Hackers may access an account or network through a weak point or a vulnerable person to lock a device and threaten to delete or share its contents unless a ransom is paid.
- Deepfake Technology: Criminals use audio or visual deepfake technology to impersonate someone, typically a family member or other trusted contact, to deceive a victim into turning over personal data or money.
How Can I Protect Myself from Cybersecurity Risks?
We encourage you to use this checklist to help ensure your online information is safer:
- Freeze Your Credit: Visit each of the three major credit bureaus to freeze your credit while you don’t need access, so hackers cannot apply for credit in your name. You have the flexibility to unfreeze at any time before a large purchase or when necessary.
- Use a Password Manager: These tools help generate and securely store strong passwords, making it more difficult for a hacker to guess your password and eliminating the need to remember complex passwords.
- Secure Your WiFi: Be sure to change the default password for your home or business’s WiFi, ensure encryption is correct, and update your passwords at least every 90 days.
- Add Multi-Factor Authentication: A two-step verification process on financial accounts adds an extra layer of protection to your bank information, funds, and investments.
- Avoid Clicking Suspicious Links: Rather than clicking links in a text or email, visit the company’s or bank’s official website or contact them to ensure links and requests are legitimate.
- Use a Unique Email for Financial Information: Keeping a separate email account for your financial data, distinct from your personal email, can help you better identify spam and fraudulent requests.
- Avoid Oversharing on Social Media: Take extra precautions when posting about your whereabouts, children, or other sensitive information online, as this can provide hackers with valuable insights into how to breach your data.
Safeguarding your finances and personal information through proactive action is an essential step in protecting yourself, your family, and your business from cyberattacks. For example, our True Life Planning Cycle helps our clients maintain a comprehensive view of their finances. By addressing various facets of your financial life, the process may help identify potential issues while providing complete solutions to support keeping your money and goals on track. Please contact us for additional strategies to protect your data or for guidance on the next steps to take following a breach.