From listening to music to ordering groceries to working from home, almost all aspects of our daily lives are connected to the internet in some way. But our always-connected nature can come with risks.
According to the FBI’s “2022 Internet Crime Report,” the bureau’s Internet Crime Complaint Center received 800,944 complaints in 2022, which was a 5% decrease from 2021. However, the potential total loss grew from $6.9 billion in 2021 to more than $10.2 billion in 2022.
Here are some ways to help protect your family online:
Have you ever received a call, text or email regarding suspicious activity detected on your account or suspended online access? It could be a scammer trying to convince you to share sensitive information that would enable them to access your accounts.
Increasingly, criminals are able to impersonate financial institutions, large companies and even government agencies by spoofing caller ID or email addresses so they appear to be legitimate. When you receive a suspicious or unexpected communication, do not respond or click any email links. Instead, contact the company directly using a phone number on its website. Learn more about how to spot common scams at wellsfargo.com/security.
Protecting your credit file from unauthorized activity and fraud is essential to protecting your identity and finances. Consider placing a credit freeze on your credit file as well as children’s and elderly family members’ credit files.
Credit freezes must be implemented and lifted separately at each credit bureau (Equifax, Experian and TransUnion) for yourself and each individual you’re acting behalf of. Upon the completion of a credit freeze, you will be provided a PIN code that can be used to lift a freeze. Store this code in a safe location should you need access to it in the future.
Regularly review your credit file to identify and report errors or potentially suspicious activity to the credit bureau it’s found at. The three major U.S. credit bureaus are required to provide one free credit report annually upon request via annualcreditreport.com
Cyber criminals and fraudsters scour social media profiles for clues to security questions, passwords and other information that could help them impersonate potential victims online.
Consider setting your social media profiles to private — and encourage your family members to do the same. Also, restrict your social media contacts to people you know personally. Finally, watch what information you disclose. Revealing too much personal information in your social profiles or posts can put you at greater risk of identity theft, especially if your bank or other companies use that information to verify your identity.
Ensure your home’s wireless network is protected with a strong, unique password. Consider using a unique phrase with a mix of letters, numbers and special characters. Additionally, avoid using any part of your name or home address, information shared on social media, or anything else someone could easily guess.
When you are configuring your router, be sure to change the default login information and choose WPA2 or WPA3 encryption standards to best secure your network.
Cybercriminals change their tactics frequently, so try to stay on top of the latest threats. Keep your devices and apps updated with the latest security patches and be sure to review the resources provided by your bank, investment firm and other financial providers to understand ways to help protect your family and yourself online. Sign up to receive scam alerts from the Federal Trade Commission by visiting ftc.gov and selecting “Get Consumer Alerts.”
This article was written by/for Wells Fargo Advisors and provided courtesy of Jamie Seim, CFP, Senior Vice President – Investment Officer in Ponte Vedra Beach at 904-273-7917.
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