Cyber Security Threats

Cybercrimes are on the rise. Cyber criminals are taking advantage of the ever-increasing amount of data that is available online to help them carry out criminal activity. They will impersonate, even manipulate phone numbers that they are calling from to appear as though they are legitimate. Fraudsters will send emails and text messages designed to trick the recipient into thinking they need to “click on the link” to verify information. They will tell victims that there has been fraud on the account and that it can be stopped by clicking on a link. Beware of emails or phone calls that offer a refund on an item, or an account. Cyber criminals try to gain trust and then make potential victims feel like there is urgency to act. They are devious and creative, and increasingly more people are falling victim to these crimes.

Cyber Smart

You can be cybersmart by taking a few precautions. Use two-factor, also called dual-factor, or multi-factor authentication, which requires a unique code each time you access your accounts. Be suspicious when you are asked to provide any verifying information, such as your full Social Security number, a security code for a one-time password, your username, your password, your full account number, answers to security questions over the phone. You can hang up and call back using the number you have for that institution. Be cautious when sharing information on social media sites, such as where you grew up, or the high school you attended, or your birthdate. Cybercriminals can piece together information from these sites and have a better chance at gaining access to your data. Upgrade your technology. Old software, operating systems, and browsers are at higher risks. Regularly change your passwords. Do not click on links or attachments in emails or text messages if you are unsure of the sender. Check the sender’s email address to see if it is an accurate domain.

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CHARLES SCHWAB Multi-factor Authentication

Multi-factor Authentication is one of the best ways to help protect your accounts. This security feature enables a prompt on your phone when there is an attempt to log into your account and requires that you enter a unique security code. We recommend that you set up “Two-step Verification” on your Schwab Online Account. Simply log in, select Service / Security Center. Select the radio button for “Always at login”. This will prompt you to select the phone number that you want the text to come to. You will get a security code and need to enter it to verify. That’s it!

The information contained in this material is based on sources believed to be true and reliable; however, its accuracy is not guaranteed. This material should not be construed as a recommendation to buy or sell specific securities. Views are based on market conditions, economic data, and other information at the time of publication and are subject to change.