1) Enable Multi-Factor Authentication (MFA)
Multi-factor authentication is much stronger than passwords alone. The extra protection comes from requiring more than one form of verification to access your accounts. Typically, this involves entering both a password and a one-time passcode from an authenticator app on your phone or sent to you by text or email. Enable MFA wherever possible, especially for high-value targets like your email account and online financial accounts. The small amount of inconvenience of typing in an extra code is very worth the security it provides.
2) Call A Known Good Number First
Email scams, fraudulent websites, and phone scams have long been widespread. Now they are realistic and sophisticated. Nearly everyone knows someone who has fallen prey to a scam. The bottom line is this: never open unsolicited emails or answer a call from a caller whose phone number you don’t recognize. Let the call go to voicemail. Verify the authenticity of emails and phone calls that seem important by calling a known good phone number that is not provided in the email or by the caller (for example, use the number printed on your most recent monthly or quarterly statement). If the request seems urgent, and you can’t figure out how to independently verify whether an email or call is authentic, contact a trusted, knowledgeable family member, friend, or advisor for advice. These individuals try and play on our emotions to make you make mistakes or take action that you wouldn’t normally. Remember to take a second, read carefully, breathe, and ask for help.
3) Verify Your Devices and Apps Are Being Updated
Cybercriminals have always exploited vulnerabilities in outdated software. That is why regularly updating—or even better automating updates for—your operating system, web browser, browser plugins, and apps, has always been a bedrock cybersecurity practice, ranking right up there with using strong passwords and backing up your data. Verify that your phone, computer, and other devices are updating. If you don’t know how to do this, ask for help from a younger relative or IT professional. Of course, if you find that one or more of your devices are no longer able to install updates, it is time to replace them.
4) Encrypt Your Sensitive Information and Request That Others Do Too
Encrypting your digital communications, phone, laptop, and sensitive data protects them by making them unreadable to unauthorized parties. Without encryption, your sensitive information may as well be written on postcards – open and visible for anyone to see. The extra trouble of encrypting sensitive communications and attachments is worth it. It ensures that even if a cybercriminal steals or intercepts your data, they won’t be able to decipher it.
5) Audit the Basics
Are you using strong, unique passwords? If not, start by implementing MFA immediately, then implement a system for managing your passwords better, such as a reputable password manager. Weak passwords are like locking your doors with twisty ties. Are your devices and apps receiving the latest updates? Exploiting vulnerabilities in outdated software is child’s play for hackers and cybercriminals; automate updates where possible and replace devices and software that can no longer be updated. Are you backing up your phone and computer data regularly? This seems like a low priority until you lose your phone, or your computer is hijacked by ransomware, and the backup is the only thing left. If you don’t know how to check these things, get help from a tech-savvy relative, friend, or IT professional. It sounds like a daunting task these days, but with Cloud options available to everyone it’s never been easier.
By beefing up your security in these five ways, you can transform yourself from an easy target to a hard target. They will significantly enhance your cybersecurity and protection against scams. Remember, security is an ongoing process that requires vigilance and proactive measures. Stay informed about the latest trends and best practices to stay one step ahead of criminals. Your digital assets and personal information are invaluable—invest in their protection today.
Registration with the SEC should not be construed as an endorsement or an indicator of investment skill, acumen, or experience. Investments in securities are not insured, protected, or guaranteed and may result in loss of income and/or principal. Nothing in this communication is intended to be or should be construed as individualized investment advice. All content is of a general nature and solely for educational, informational, and illustrative purposes.
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