GONE PHISHING: PROTECTING AGAINST ONLINE ATTACKS
Provided by MidAmerica Financial Resources
Identity theft is a serious problem that affects millions of people around the world. In the United States, more than 14 million people were victims of online theft in 2018, and nearly a quarter of those suffered unrecoverable expenses.
So, what is identity theft and how can you reduce the chance that you’ll fall victim?
Identity theft occurs when a thief obtains your personal information — account numbers, Social Security number, personal ID and password, banking information — and uses that information to commit fraud. They can use that information in a number of ways. They can take out credit cards in your name, obtain loans in your name, or steal money directly from your bank accounts.
Your information can be stolen both offline and online, and attacks are growing very sophisticated, making them difficult to identify and prevent.
Cyberattacks, for instance, are in the news nearly every day. During a cyberattack, a criminal can steal your personal information in two primary ways: via social engineering or phishing. That’s phishing with a P-H.
Social engineering happens when a thief tricks online users into performing an online action that gives them access to your system and its data. A common trick is sending someone a text message that appears to be from a person they know. The message includes a link that when clicked, releases malware that allows the criminal to then take over your computer and access your contacts. With your contact details and those of your friends, they can then impersonate others and solicit account information and other personal data.
A phishing attack happens when a cybercriminal lures a victim to a website that appears to be legitimate, but in fact is a front that tricks the victim into entering their personal information.
During a cyberattack, criminals can infect your system with malicious code, infected search engine results, and infected documents that you download from a social networking site. These attacks aren’t limited to computers and can attack smartphones, too. This occurs when you download a malicious app that when installed, provides the criminal with access to your phone and its information. They can even sometimes control the device remotely.
So, how can you prevent these attacks?
First, never provide credit card information or other personal identifying information online or over the phone unless you initiate the communication with a trusted contact.
Second, look over your financial statements regularly and notify your bank if you find anything fraudulent.
Monitor all of your online accounts, too, and report anything out of the ordinary to your bank, credit card company, or even law enforcement.
Review your credit report at least once each year, and notify the credit bureau if you find any questionable entries. If you ever find that your identity has been compromised, ask the credit bureau to enter that information into your credit report.
Finally, look carefully at any email or text message that asks you to update your personal information, activate an account, or enter your personal information. Be careful, too, when downloading any attachment or file from the Internet.
MidAmerica Financial Resources may be reached at 618.548.4777 or greg.malan@lpl.com www.mid-america.us
Securities and advisory services offered through LPL Financial, a Registered Investment Adviser, Member FINRA/SIPC.
MidAmerica Financial Resources and Malan Financial Group are separate and unrelated companies to LPL.
This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principal.
This material was prepared by LPL Financial, LLC
