facebook twitter instagram linkedin google youtube vimeo tumblr yelp rss email podcast blog search brokercheck brokercheck
%POST_TITLE% Thumbnail

Data Security: What Simple Steps Can I Take To Protect From Cyber Attacks

Insights

The world is digital and is becoming more interconnected every day.  Technology has made our lives infinitely more productive and convenient.  And while this digital transformation has been happening since the turn of the century, with the advent of new technologies (e.g. cryptocurrencies and artificial intelligence) the changes are accelerating.

There is no sense in being alarmist, or fearful about the dangers of a digital marketplace, it is a fact of life and one we must face head on.  Just like in earlier times, when we would protect our wallets and purses from pick-pockets and muggers, we need to protect our digital assets from cyber thieves who want to relieve us of our valuables.

Below are some real actionable steps to take to make yourself like a “prickly porcupine” in the online world, in other words, be “prey” that is less appetizing to an online predator.

1. Fortify Your Digital Fortress with Strong Passwords and a Password Manager

  • Create Strong, Unique Passwords: Avoid using easily guessable information like birthdates or pet names. Instead, craft complex passwords with a mix of upper and lowercase letters, numbers, and symbols. Aim for a minimum of 12 characters and consider using a passphrase that's easy for you to remember but difficult for others to guess.  Song lyrics, poems, personal memories, are all good options here (e.g. “Happy Days Are Here Again” becomes “H@ppy D@y5 Ar3 H3r3 @g@!n”)
  • Embrace a Password Manager: A password manager securely stores and manages your passwords, eliminating the need to remember them all. Consider reputable options like BitWarden, Dashlane, or 1Password. These tools can also generate strong passwords for you and autofill them on websites, saving you time and effort. Remember to use a strong master password for your password manager and enable two-factor authentication for an added layer of security.
  • Enable Two-Factor Authentication (2FA): Whenever possible, enable 2FA on all of your accounts. This adds an extra layer of security by requiring a second form of verification, such as a code sent to your phone, or an Authenticator app like Authy, in addition to your password. This makes it significantly harder for hackers to gain access even if they have your password.

2. Implement Safe Data Transmission Practices

  • Leverage Secure File Sharing Platforms:  For sharing large or sensitive files, use secure file-sharing platforms (such as RightCapital) that offer encryption and password protection. Avoid sending sensitive information via email attachments unless you're using a secure email service.
  • Use Encryption for Sensitive Information: When transmitting personal or financial information electronically, use encryption to protect it from unauthorized access. Look for websites that use HTTPS (the "s" stands for secure) and avoid sending sensitive information over public Wi-Fi networks. If you need to send sensitive information by email, consider using a service that offers end-to-end encryption.
  • Secure Your Home Wi-Fi Network: Use a strong password for your home Wi-Fi network and enable encryption. Consider changing your router's default password and updating its firmware regularly.

3. Stay Vigilant Against Phishing and Smishing Scams

  • Be Wary of Suspicious Emails and Text Messages:  Don’t be lazy here, this is the most common way to be compromised.  Scammers often use deceptive emails and text messages (smishing) to trick you into revealing personal information or clicking on malicious links. Be cautious of messages that create a sense of urgency, offer unexpected rewards, or contain grammatical errors and misspellings. Scrutinize the sender's email address and phone number carefully. Hover over links to check their destination before clicking.
  • Verify the Sender's Identity:  If you receive an email or text message from an unknown or suspicious source, don't click on any links or attachments. If you’re not sure, contact the company or organization directly using their official contact information to verify the message's legitimacy.
  • Don't Share Personal Information Over the Phone:  Legitimate companies and organizations will never ask you to share sensitive information like your Social Security number or bank account details over the phone. If you receive such a call, hang up and contact the company directly to confirm the request. Be especially cautious of callers who threaten legal action or demand immediate payment.

4. Additional Tips

  • Keep Your Software Up to Date: Regularly update your operating system, web browsers, and other software to patch security vulnerabilities. Enable automatic updates whenever possible.
  • Use Antivirus and Anti-Malware Software: Install reputable antivirus and anti-malware software on your devices and keep it up to date. Run regular scans to detect and remove threats.
  • Be Cautious on Public Wi-Fi: Avoid accessing sensitive information or conducting financial transactions on public Wi-Fi networks, as they may not be secure. Consider purchasing a personal VPN service for added protection.
  • Lock Your Devices: Use a strong password or PIN to lock your devices and enable automatic lock after a short period of inactivity. This prevents unauthorized access if your device is lost or stolen.
  • Be Mindful of What You Share Online: Think twice before posting personal information or financial details on social media or other online platforms.  Even things like pictures of yourself, your family members or videos or recording of your voice can be used in elaborate ways to scam you. Bad actors can use this information to target you.
  • Review Your Privacy Settings: Regularly check the privacy settings on your social media accounts and other online platforms to control who can see your information. Limit the amount of personal information that is publicly visible.
  • Regularly Monitor Your Financial Accounts: Keep a close eye on your bank and credit card statements for any suspicious activity. Set up alerts to notify you of unusual transactions. Check your accounts at least once a week and report any discrepancies immediately.

No solution is foolproof, and the reality is that almost one million cyber crimes are reported each year to the FBI in the USA, and this doesn’t include unreported incidents bringing the estimated number of incidents much higher.  However, the ubiquity and convenience of digital life has been a great benefit to society in many ways.  So while there are dangers inherent in digital commerce, there is no sense in living in fear.  Take proactive steps to protect yourself and your family and stay vigilant in your efforts to make yourself an unappetizing “prickly porcupine” for those online predators.