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Cyber Nightmares and How To Prevent Them
Terry Herr, CFP®
AT&T announced today (7/12/2024) that a hacker obtained nearly ALL of AT&T’s customers call and text records. Companies such as AT&T, the federal government, banks and other financial institutions take cybersecurity very seriously. In spite of their best efforts, they can still get hacked. Trillions of dollars are at stake!
Have you taken any efforts to address your personal Cybersecurity?
When was the last time you did a cybersecurity audit?
Artificial intelligence is making attempts to steal your information and assets even easier. We recently had a client who was subjected to an AI generated phone call from their “son” who claimed he was in a car accident. His AI “voice clone” claimed he was arrested for hitting a pregnant woman, who was in unknown condition at the hospital. This was a sophisticated effort which included a call with a local “prosecutor”. The “local prosecutor” said a few things that didn’t sound quite right, which sent their radar up. They still had to take the call seriously until they were able to reach their son. Fortunately, they discovered the fraud within an hour, but I am sure it was amongst the longest hours in their lives.
We’ve published several articles and resources on cybersecurity over the last few years, but I’ve listed three of the most impactful ones below. The steps are simple and easy to follow. I think the two most important tasks are:
- Set up a separate “financial only” email address. Use this address for only financial websites such as banks, credit cards, loans, etc. Then never click a link in the email address. Anything a financial institution sends is likely available by logging directly into their website, without using the link contained in an email.
- Use multi-factor authentication(MFA), ALWAYS! According to Microsoft, “MFA leads to a 99.22% reductions in the risk of compromise”
Here are some articles worth reviewing:
- Watch out for these latest Information-Stealing Scams
- If the Federal Government Can Be Hacked, You Can Too. How can you stay protected?
- CyberSecurity Awareness
- How to protect your online purchases?
- How Do You Safely Store Your Passwords Online?
This content is developed from sources believed to be providing accurate information. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.