Historical Trends of Seasonality in the Market During the Calendar Year
11/20/23
Important Documents To Keep Safe and How To Do It
12/18/23
Authored by Erin Goss, Chief Operating Officer, and Antone Lamerato, Operations Manager
Working alongside our clients to ensure their financial well-being often goes beyond classic financial planning and investment management topics. Cybersecurity is one example, and is of particular concern, given the prevalence of activity and information that is conducted or shared online today relative to face-to-face exchanges. It is important for our clients to know that there are criminal efforts organized specifically to look for vulnerabilities in how individuals operate online. Only you can change your habits to minimize your risks of being compromised.
What is Cybersecurity? Cybersecurity is the practice of safeguarding networks, devices, and data from unauthorized access or criminal exploitation, with a focus on maintaining the confidentiality, integrity, and availability of information. Neglecting to implement proper cybersecurity leaves your sensitive data open to cybercriminals. Cybercriminals steal sensitive information like credit card numbers, bank information, and social security numbers to commit financial fraud or to steal your identity. Phishing is one of the most prevalent and effective cybercrimes that target individuals.
What is Phishing? Phishing is a cybercrime where you are contacted by e-mail, telephone, or text message by someone posing as a legitimate entity. The person attempts to deceive you to provide sensitive data such as personally identifiable information, banking or credit card details, and passwords, often by playing on the emotions of fear and greed. “Click here to update your financial account information before you lose access!” is an example of plausible phishing communication.
Common Phishing Red Flags: It takes a keen eye to recognize potential phishing threats, but there are some tell-tale signs. Some common red flags are:
- Communications that create strong emotion in the recipient that were unexpected (fear, sadness, or greed are common)
- A sender with an unfamiliar e-mail or phone number
- E-mails sent at odd hours of the day
- Being copied (cc’d) on a message and not personally knowing the other people in the message
- Hyperlinks in the message taking you to an unrelated website
- Hover over a link (without clicking!) to view the actual destination
- E-mail attachments that seem out of context
- Spelling or grammatical errors in the message
What To Do to Protect Yourself: It’s important to trust your gut before taking any action requested by an unexpected communication. Take the time to fully evaluate the legitimacy of a call, text, or e-mail before proceeding. Study the communication thoroughly. Does something seem off? If it does, it probably is a phishing attack that would be best deleted. If a communication is unexpected, but appears to come from a recognized source, contact the sender verbally using a phone number you independently sourced, to verify the legitimacy of the request before acting.
Click here to read part 2 of our series on cybersecurity, ‘Fortify Your Online Presence’.
Click here to read part 3 of our series on cybersecurity, ‘My Identity Was Stolen – Now What?’.
Expressions of opinion are as of this date and are subject to change without notice. Any information provided is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation to buy, hold, or sell any security. There are limitations associated with the use of any method of securities analysis. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Every investor's situation is unique, and you should consider your investment goals, risk tolerance, and time horizon before making any investment. Prior to making an investment decision, please consult with your financial advisor about your individual situation. Past performance does not guarantee future results. Investing involves risk, and you may incur a profit or loss regardless of strategy selected. There is no guarantee that any statements, opinions, or forecasts provided herein will prove to be correct. Dividends are not guaranteed and must be approved by the company Board of Directors. Indices are included for informational purposes only; investors cannot invest directly in any index. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors of Blue Chip Partners, Inc. we are not qualified to render advice on tax or legal matters. You should discuss any tax or legal matters with the appropriate professional.
