“Dear Sir,
I write to you today about a large sum of money. I am a prince who needs help moving my money out of my country. If you provide me your bank account……...”
9 Ways to Protect Yourself
1. Never, ever use the same password twice. Create unique, strong passwords for every site you use. Passwords should consist of UPPERCASE, lowercase, your favorite #, $, %, ! and various numbers. If you need to, use a password manager app to keep and safely store all of your passwords. And change them regularly.
2. Don’t ever click a link or download anything from an unknown source. Once you click, you could have just opened the “front door” to your device.
3. Search and check your email “Sent” file of messages. If your account has been hacked, you will see so here. Search your sent box using “#” or “account” to help find any fraudulent messages. As well you can delete any information you don’t want easily accessible for a hacker. If hacked (spoofed) read this.
4. Never provide personal information to someone who contacts you first via phone, text or email. This contact may seem innocent but don’t trust unless you have confirmed it is legitimate. Call them back on a number you know is the actual organization’s number. Two common examples; “Microsoft” calling to help fix a “virus” they have found on your computer and know that the IRS doesn’t call people, they usually bill you first.
5. Use your credit card not your debit card. I know the many good reasons to use a debit card, such as you only spend what you have in your bank account. However, if your debit card is compromised, bank account meet thief; thief meet bank account…all your money will be gone. Credit cards provide fraud monitoring for irregular card activity and will cover theft expenses.
6. Check your credit card transactions closely and review you credit reports regularly. How else will you quickly catch a new account opened under your name? Use AnnualCreditReport.com to request your credit report. Also you may want to consider investment in identity theft protection.
7. Limit your social media sharing. Perusing a person’s social sites can reveal a lot, such as a pet’s name, an anniversary, birthdate or say your mother’s maiden name, etc. If on vacation, maybe post that great beach picture after you return. Posting while on family vacation provides an open invite for cat burglary activities at your home.
8. Stop using public WiFi. Or at least limit it to non-personal information searches. Enough said.
9. Use a password on your phone. And make sure your phone locks after a few minutes of inactivity. If phone is lost or stolen, this will keep your information safe. Plus if you have little ones, passwords help.
Foley and Foley Wealth Strategies seeks to educate and assist our clients in all areas related to their wealth and finances. If you have a good tip on this topic, please share with us at luke.fields@raymondjames.com.
Be safe and secure,
Luke Fields, CFP®