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Cyber Security  - Phishing Thumbnail

Cyber Security - Phishing

In the ever-evolving landscape of cyber threats, safeguarding our digital identities has become paramount.   In recent years cybercrime has been on the rise and has become much more sophisticated, but we are dedicated to fighting it with your help.  We hope with education and action we can make a difference! 

There are many different types of cybercrimes, but one of the most common scams is Phishing.   This involves emails, text messages, or phone calls that appear to be from legitimate organizations, such as banks, government agencies, or well-known companies. The messages typically contain urgent requests for personal or financial information, such as login credentials, credit card numbers, or Social Security numbers. They can be very convincing!

What can you do to keep yourself safe?

Be skeptical: Approach all unsolicited emails, text messages, and phone calls with caution, especially those that request personal or sensitive information, urge immediate action, or contain suspicious links or attachments.

Don’t click on the links provided in suspicious emails or text messages.

  1. Manually type the known website's URL into your browser instead of clicking on links provided in emails or text messages.
  2. Look up phone numbers to financial institutions and call them directly.

Don’t give out sensitive information.  If you have a small red flag waving in the back of your mind, stop what you’re doing, and find someone you trust.  Don’t worry about being “rude” to the person on the other line.  If it’s legitimate, you’ll be able to come back and resolve the issue.

Call or text someone you trust.  Sometimes it doesn’t seem obvious you are being scammed, but if you have any doubt getting a second opinion can provide clarity.

Enable Multi Factor Authentication (MFA) everywhere possible

  1. ALL Financial Institutions. Schwab, like many, already requires it.
  2. Email
  3. Online shopping accounts, i.e. Amazon, Target, Paypal, Costco
  4. Social Media
  5. Cloud Storage Accounts
  6. Password Managers

Below are some common examples of phishing texts and email themes.  If you receive one of these, best practice is to delete it and ignore it.

1. Banking Scams: "Your account has been compromised. Click the link to verify your identity and secure your account."

2. Package Delivery Scams: "Your package delivery is delayed. Click the link to track your shipment and reschedule delivery."

3. Tax Scams: "IRS: You have an outstanding tax refund. Click the link to claim your refund now."

4. Social Media Scams: "Your Facebook account has been suspended. Click the link to regain access and avoid permanent closure."

5. Tech Support Scams: "Your device has been infected with a virus. Call this number to speak with a technician and resolve the issue."

6. Prize or Lottery Scams: "Congratulations! You've won a prize. Click the link to claim your reward."

7. Job Offer Scams: "You've been selected for a job opportunity. Click the link to submit your application and schedule an interview."

Together, we can make a difference in safeguarding our personal information and maintaining a safer cyber environment for everyone.

DISCLAIMER:  Past performance may not be  indicative  of  future  results.  Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this  newsletter (article), will be profitable, equal any corresponding indicated historical performance level(s),or be suitable for your portfolio. Due to various factors, including changing market conditions, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this (article) serves as the receipt of, or as a substitute for,  personalized  investment  advice  from  Elmwood Wealth Management. A copy of our current written disclosure statement  discussing  our  advisory  services  and  fees  is  available  for  review  upon  request.