Global View Investment Blog

Protecting Your Assets from Fraud

Scammers attempting to commit wire fraud are on the rise. Attempts are widespread and becoming more sophisticated than ever making it increasingly difficult to detect when requests from clients are legitimate. At Global View, we are doing everything possible to protect and prevent criminals from gaining access to your accounts. There are also some techniques you can practice on your own to reduce the odds of a criminal gaining access to your account.

First, and most importantly, NEVER send confidential information about yourself or family via email. This includes information like, past signatures sent and financial advisor contact information. When an email account is hacked, fraudsters can search past emails providing access to any personal data that has been sent or received through the email account. Scammers can use advisor contact information to ask for account balances, or for funds to be distributed. They can also use past signatures to sign forms that advisors may request to distribute funds. By refraining from sending this information, you can prevent potential hackers from accessing this data.

Secondly, unless you know and trust the sender, do not open links sent by email as they may lead to phishing sites. Phishing is when someone searches for personal information such as User names, Passwords, and account information through a falsified website or webpage. Hackers use these phishing techniques to gain personal data and account information.  This may give the scam artist access to accounts online and request transfers on their own.

Lastly, keep all antivirus and malware software up to date and perform consistent scans. Viruses, Worms and Trojans can cause problems by accessing data on your computer. These can allow remote access to your computer, send spam, log your keystrokes, erase data and even wipe out your computer.

Below is a video and article explaining how criminals gain access to investors’ email accounts and attempt to steal funds.  This actually happens more often than you might think: http://usatoday30.usatoday.com/tech/news/story/2012-08-26/wire-transfer-fraud/57335540/1

Internet Safety Tips

• Never share your personal information such as account numbers, social security numbers, dates of birth, usernames, or passwords in an email. Remember if the email account is later hacked, the hacker will have access to all past emails.

• Any scanned documents you send via email containing such information should be password protected. Faxing is much safer.

• Do not reply to any e-mail asking for personal information.

• Scan all attachments with anti-virus software program before downloading.

• Unless you know and trust the sender, do not open links sent by email as they may lead to phishing sites. Phishing sites often look legitimate but are designed to collect your personal information.

• Use Anti-virus and anti-spyware software to protect your computer against new viruses.

Global View Safety Procedures

Will verbally confirm any non-recurring move money requests. 

• Will never ask you for sensitive information via e-mail. If you ever receive such a request please call us! 

• Increase client awareness on criminal strategies to access personal information.

For more online safety tips from our custodians see links below:

http://www.schwab.com/public/schwab/nn/legal_compliance/schwabsafe/protect_your_account

http://www.schwab.com/public/schwab/nn/legal_compliance/schwabsafe/safeguard_your_information

https://www.tdameritrade.com/security/online-safety-tips.page

Amanda Baize

Written by Amanda Baize

Amanda Baize is a Paraplanner with Global View. As an accountant, she provides in-house support for clients and develops tax strategies with our advisors. She also assists with financial planning, portfolio accounting, performance monitoring, and client reviews.

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