There’s no denying we are living in the digital age. With increasingly sophisticated and insidious cyber threats, it is more important than ever to understand what you’re up against and to take steps to protect yourself. Here are four crucial things every retiree should know about financial data security—and how working with an advisor can help safeguard your wealth.
1. Phishing Scams Are on the Rise – Phishing scams involve fraudsters posing as trusted sources, like banks or government agencies, to trick you into sharing sensitive information. Tip: Be wary of unsolicited messages asking for personal or financial details. Resist the urge to click the link or respond directly and always verify the sender before responding. Your advisor can help you identify these scams and provide tips to stay vigilant. In fact, if you suspect you’ve received a phishing message, ask your advisor if the message is legitimate.
2. Cyber Attacks Target Individuals Too – Hackers don’t just go after big companies; they often target individuals for their personal financial data. Tip: Regularly update your passwords and enable two-factor authentication on important accounts. Your advisor can help ensure your financial accounts are secured with the latest technology. And remember, sometimes hackers can find an open backdoor to your financial accounts if you have any of them linked to online sources like Facebook, Instagram or TikTok marketplaces. Be sure to enable two-factor authentication on all of your digital properties.
3. Identity Theft Can Derail Your Retirement Plans – Identity theft is more than an inconvenience—it can wreak havoc on your finances if your personal information is compromised. Tip: Monitor your credit reports for any suspicious activity and consider using credit freezes if necessary. Your advisor can guide you on credit monitoring services and proactive steps to protect your identity.
4. Protecting Your Retirement Accounts is Critical – Retirement accounts are prime targets for hackers, especially as cyber criminals become more sophisticated. Tip: Use secure, encrypted methods when accessing your accounts online and avoid sharing account details via email. Once again, your advisor can help you implement these security measures.
There is no better time than now to stay informed. If you have questions about your financial data security, please don’t hesitate to call us at 800.493.6226!
