Tag: Cybersecurity

Cybersecurity: 7 Steps to Hackproof Your Life

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In the first blog post, we covered the most common forms of cybersecurity attacks to watch for, from deepfake technology, which uses realistic video and audio to deceive, to medical insurance identity theft, where criminals impersonate victims to obtain procedures or prescriptions. Cyberattacks are an everyday reality, but there are measures you can take to protect your family, personal information, and finances. Let’s explore seven key steps to help hackproof your life and guard against fraudsters. You can also learn more about this topic in this video:

#1 Freeze Your Credit

To guard against credit identity theft, you can freeze your credit, a free and small hurdle to protect your financial life. Locking your credit file until you need to apply for a loan or new card is good practice in helping to prevent unauthorized requests, so cybercriminals won’t be able to apply for credit in your name.

You’ll need to implement a credit freeze with each of the three credit bureaus, which you can do on their websites:

#2 Enable Two-Step Multi-Factor Authentication (MFA) or Passkeys

These days, a simple password isn’t enough. If a hacker gains access to one account, their chances of accessing other information are higher. Multi-factor authentication (MFA) adds an extra layer of security before you access your accounts. For example, a passcode text to your phone or verification email can better deter criminals who don’t have access to your accounts or devices. You typically must enable the optional feature on accounts that offer it. You can also select from a range of authenticator apps to secure your accounts online.

Or, even better, you can implement passkeys on your accounts. This newer security feature offers an even higher level of protection than a traditional password with MFA. Passkeys allow you to use your device’s built-in biometrics — your face or fingerprint that you use to unlock the device — to log into sites or apps.

#3 Use a Password Manager

Even with what we know about cybersecurity, most of us may still not use the strongest passwords or update them often enough. A password manager, a tool provided on your device or desktop computer, provides highly complex, unique password suggestions that are harder to guess than simple, default passwords based on a last name or birthday. The best part is that the password manager remembers these complex strings of characters for you.

#4 Avoid Public Wi-Fi for Financial Transactions

While public Wi-Fi at the airport or hotel is convenient, it’s safer to avoid it, especially for financial transactions. Public networks are less secure, making it easier for fraudsters to intercept critical data. However, if you need to be online in public, consider using a password-protected hotspot on a personal device or a VPN (virtual private network), which scrambles your internet activity and hides it from scammers.

#5 Secure Your Personal and Business Wi-Fi

Similarly, how secure are your Wi-Fi routers at home or at your business? Create a strong, unique password instead of using the default password provided with your device, and update it if you suspect a breach. It’s also recommended to encrypt your router, regularly update your router’s software, and disable WPS, which makes adding new devices to your network easier. If you’re uncomfortable or unsure how to set up these protections, a professional can help you secure your devices and offer additional security tips.

#6 Dedicate an Email for Financial Transactions

Creating a unique email account solely for your finances may sound extreme. However, it can make it easier to spot irregular activity, phishing emails, or other suspicious behavior that might otherwise get buried in your primary inbox. Be sure to choose a reputable email provider, create a strong, unique password, and enable two-step MFA to strengthen your security.

#7 Avoid Clicking Suspicious Links

Scams like phishing emails and spoofing, in which the true sender’s information is disguised, often include links and require “urgent” action on your part. Sometimes, you can spot fakes by scrutinizing the email address and message for discrepancies and typos. For example, it can be easy to overlook an email from advlsor@bankone that should actually be advisor@bankone (the “i” in advisor has been replaced with a lowercase “l”). Illegitimate links may direct you to a fake website to capture login credentials or bank account information, or expose your device to malware. Unfortunately, we don’t know what every link is designed to do. A good rule of thumb is to avoid clicking links you receive in an email or text; instead, contact the sender or visit the official website directly to verify the message is legitimate. 

#8 Bonus Tip: Rethink What You’re Sharing on Social Media

While social media is part of most people’s everyday lives, posting about your vacation, kids, or even your birthday may be providing scammers with more information than you think. Criminals may piece together details to guess passwords, use your likeness to create deepfake content, or learn when your home and devices are most vulnerable, such as when you’re traveling. Information you post online is incredibly hard to remove, even when you’ve “deleted” it, so rethinking when and what you post is critical.

Build a Stronger Defense Online

While it’s nearly impossible to be completely secure online, there are ways to protect your online life better and avoid being the lowest-hanging fruit.

If you’d like more guidance on protecting your personal and financial information, please contact us, and we’ll be happy to discuss best practices.

Cybersecurity Risks to Watch for 

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Suspicious emails, calls from unknown numbers, and convincing AI videos have become a common reality in today’s digital age. Fraudsters and hackers have also become more sophisticated, using advanced technology to access your personal and financial data. Protecting your information is crucial to help avoid costly losses and identity theft. In the first part of this two-part series, we’ll cover the common forms of identity theft you should be aware of to identify and avoid cyber threats. In this in-depth video, listen as Brown Financial Advisory President Scott McLeod shares what to watch out for and how to prevent being a victim:

Don’t Be Fooled — You Have (Probably) Already Been Hacked!

In today’s age, it’s almost impossible to avoid scammers accessing your sensitive personal information online. With major hacks over the past 10 years alone, billions of people’s data — including Social Security numbers, credit card and bank account information, driver’s licenses, passwords, and more — is circulating on the dark web. On this hidden online platform, data, drugs, and more are exchanged. While you may not have experienced lost funds or credit theft directly, major hacks at companies such as Yahoo, Capital One, and Equifax mean your data is likely already being bought and sold for nefarious purposes. The fallout from a hack can lead to significant stress and financial loss as you trace the criminals, try to recoup lost funds (if ever), and rebuild damaged credit. The thought of a cyberattack is scary, but it’s part of our modern world. However, by getting informed and taking proactive steps, you can better protect yourself from being an easy target for hackers. Let’s review the common forms of identity theft to watch out for.

What are the Risks? Common Forms of Identity Theft

While emerging technology is making hacks easier and more prevalent, knowing the common threats and what to spot can help you avoid becoming low-hanging fruit for cybercriminals. 

Credit Card Theft

Credit card theft is a very common form of identity theft. If you’ve ever had to replace a card for suspicious activity or unauthorized purchases, you’ve probably already been a target. Credit card theft can occur when your card is stolen, through a data breach, or via a phishing scam. Phishing is when sensitive information is gained through illegitimate emails, links, or other communications that appear to be coming from a real company, bank, or other organization you trust. These messages often seem urgent and demand immediate action to “resolve,” which can lead you to unintentionally share sensitive information with a scammer. Credit card theft is inconvenient but generally is a low-level risk. You can typically address a hack through your credit card company, which can cancel your current card, reissue a new one, and help you recoup your funds.

Social Security Identity Theft

A far more severe threat is Social Security identity theft, in which scammers can use your Social Security number as a key identifier for financial or governmental services. A cybercriminal may use your Social Security number to apply for credit or even gain employment. They may also use your Social Security number to file fraudulent tax returns and claim your refund, also known as tax identity theft. Addressing this type of hack is much more in-depth, requiring you to file a police report, freeze and monitor your credit, and ensure your work history and taxes are accurate, which could take months or years to manage and correct.

Medical or Medicare Identity Theft

Medical identity theft is when perpetrators use your medical or Medicare details to receive medical procedures, benefits, or prescriptions. As a result, billing and medical records could be falsified, impacting your future medical care, insurance coverage, and debt you’re responsible for. Mixing your medical history with information a scammer provides could be dangerous to you in the future. If you think you’ve been a victim of medical identity theft, you should contact your insurer and verify your files and charges are accurate.

Account Takeover

Scammers may also use malware, phishing, or data breaches to take over your email, social media accounts, or bank accounts entirely. A hacked social media account can range from inconvenient to stressful, especially if the scammer contacts your friends and family impersonating you or makes demands for money. However, an email or financial account can be extremely difficult to address and untangle. Often, when fraudsters access credentials on one account, they gain access to multiple accounts by quickly changing your passwords and recovery devices, forwarding your emails to their accounts, and possibly finding other sensitive details for their use.

Ransomware

Malware is another tool scammers use to lock your accounts and essentially hold them hostage until you pay a ransom. Many individuals and business owners have fallen victim to ransomware, becoming unable to access their accounts, files, systems, and networks unless they meet financial demands, sometimes in the millions of dollars. Contact law enforcement for next steps in managing a ransomware threat, as paying immediately does not guarantee you’ll recover your data.

Deepfake Technology

Perhaps one of the most insidious threats is deepfake technology, in which scammers can create fake, yet convincing, audio or video impersonating someone else using AI and other tools. The technology often recreates a voice or image gathered from social media or other public platforms. This could be a phone call or even a video chat in which a scammer may appear as an authority, family member, or someone else you trust, requesting a financial transfer or claiming they’re in dire need, for example. As technology evolves and AI becomes more sophisticated, it’s even harder for the untrained eye to spot fakes. Treat red flags like uncharacteristic urgency, strange requests, or even lighting and voice discrepancies as suspicious, and approach them with caution.

Detecting CyberThreats

The scope of digital threats today can feel overwhelming and scary, but protecting your and your family’s information is a priority. It’s critical to stay vigilant and proactive so scammers can’t easily access your data. 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. 

If you’re concerned about your financial information or other sensitive data, stay tuned for the second part of this series, where we’ll share seven actionable strategies to hackproof your life. We also encourage you to contact our team, as well as your other service providers, to verify your information, ensure accuracy, and strengthen your security.

Disclosure:

Hack-Proof! 7 Cybersecurity Steps to Protect Yourself, Your Family, and Your Business 

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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.