Below, we walk through the most common ways criminals try to compromise your accounts, followed by a practical checklist you and your family can use to stay protected.
How Criminals Steal Your Information
Understanding how attacks happen is the first step toward preventing them. Here are three of the most common tactics.
Malware
Malware is malicious software that quietly gives criminals access to your devices, where they can collect sensitive details like Social Security numbers, account numbers, and passwords.
How it works: Malware typically sneaks onto your computer when you click an unfamiliar link or open an infected email attachment. Once installed, it can capture information and passwords stored in your web browser.
Phishing
Phishing remains one of the most popular tools in a cybercriminal's kit. It relies on fake emails, texts, or websites designed to trick you into handing over information or granting access you never intended to give.
How it works: Attackers pose as a trusted organization—often one you actually do business with, like your bank, credit card company, or brokerage. They lure you into clicking a link or opening an attachment, which may send you to a counterfeit website built to look legitimate, or quietly install malware to harvest your login details.
Credential Replay
Many people reuse the same password across multiple websites. It's convenient, but it creates a serious vulnerability.
How it works: Once a criminal obtains the password from one compromised account, they'll try that same password on your other accounts. The more often you reuse a password, the more opportunities there are for it to be exposed and the more damage a single breach can cause.
Your Investor Protection Checklist
Use the checklist below to take meaningful action. Review each category and apply the steps that fit your situation.
Manage Your Devices
- Install up-to-date antivirus and antispyware programs on every device, and set them to run automatically rather than relying on occasional manual scans.
- Access sensitive data only through a trusted device and a secure internet connection. Avoid public connections unless you're using a Virtual Private Network (VPN).
- If you have children, consider giving them a separate computer for games and other online activities.
- Keep operating systems and software current across all your devices: PCs, laptops, tablets, and smartphones. Many updates exist specifically to close newly discovered security gaps.
- Never install pirated software; it frequently hides security exploits.
- Back up your data regularly to protect against ransomware attacks.
Protect All Passwords
- Avoid storing passwords in email folders or unencrypted files. A reputable password manager can generate and securely store complex passwords for you.
- Reset your passwords regularly, including those for email and mobile phone accounts. Don't reuse a single password across multiple financial relationships or websites.
- Enable multi-factor authentication everywhere you can, especially for financial and email accounts.
Surf the Web Safely
- Be cautious connecting through unsecured or unfamiliar wireless networks, such as those at hotels or coffee shops. These networks often lack protection and are highly susceptible to attack. Never use them to access confidential information without a secure VPN connection.
Protect Your Information on Social Media
- Limit how much personal information you share on social networking sites.
- Never post your Social Security number—not even the last four digits.
- Consider keeping your birth date, home address, and home phone number private.
- Think twice before announcing major life events like births, children's birthdays, or the loss of a loved one. These details may seem harmless, but fraudsters use them to answer identity-verification questions. Never underestimate the public information criminals can piece together about you.
Protect Your Email Accounts
- Delete emails containing detailed financial information once you no longer need them, and regularly ask yourself whether personal or financial data needs to live in your inbox at all.
- Use secure data storage to archive critical documents.
- Review unsolicited emails carefully. Never click links in unexpected emails or pop-up ads—particularly those warning that your computer is infected and demanding immediate action.
- Choose a unique password and turn on multi-factor authentication.
- Always review emails carefully before clicking any links or attachments.
Safeguard Your Financial Accounts
- Consider placing a security freeze with the three major credit bureaus to prevent new accounts from being opened in your name:
- Equifax: 800-685-1111
- Experian: 888-397-3742
- TransUnion: 888-909-8872
- Lock down your personal credit reports and consider enrolling in an identity theft protection service.
- Review credit card and financial statements as soon as they're available. If anything looks suspicious, contact the institution immediately.
- Never send account numbers or personally identifiable information over email, chat, or any other unsecured channel.
- Scrutinize any unsolicited email requesting personal information. Rather than clicking a link, type the website's address directly into your browser.
- If you receive an unexpected call from someone claiming to be your financial institution, don't share personal information or read back any codes sent to your devices or email.
We're Here to Help
Cybersecurity can feel overwhelming, but you don't have to navigate it alone. If you have questions about protecting your accounts or your family's financial information, reach out to your Beaird Harris advisor.
Clint Dunn
