How to Protect Your Personal Information

In today’s digital age, it’s important to take precautions in protecting your personal financial information. Knowing about threats you may encounter online—from your personal email account to social media—is a great first step. In each of these areas, you may run into scams specifically designed to steal your information or assets.

What is Cybercrime?

Cybercrime is any illegal activity carried out using a computer or the internet. Financial accounts may be susceptible to theft due to new technologies and scamming methods. They also continually evolve, making it difficult to recognize.

In 2023 alone, the FBI estimated $12.5 billion was lost to internet scams in the U.S.¹ Cybercrimes encompass a wide range of online activities that include but are not limited to:

1. Phishing: Fraudulent attempts to obtain sensitive information like usernames, passwords and credit card information by pretending to be a trustworthy contact.
2. Identity Theft: Stealing someone’s personal information to commit fraud, e.g., making unauthorized purchases.
3. Malware Attacks: Distribution of malicious software designed to disrupt or gain unauthorized access to computer systems.

How Can We Protect Our Accounts Against Cybercrime?

While financial institutions have an obligation to protect your assets, do your part by remaining vigilant. Here are some tips to help safeguard against fraudulent activities.

General Best Practices:

• Monitor your accounts regularly – Keep a close eye on your bank and credit card statements for any unusual and/or unauthorized activities.
• Be wary of unsolicited communications – They include emails, text messages or phone calls asking for any personal information or money.
• Use strong and unique passwords – Use passwords or passphrases that are a unique number of characters, numbers and symbols. Avoid using the same password across multiple accounts.

Tips to Protect Your Device:

• Avoid public Wi-Fi – It’s best to avoid public Wi-Fi for sensitive activities such as logging into your bank account or when utilizing a work computer.
• Keep your software up-to-date – Regularly update your operating system, applications and antivirus software to ensure you have the latest security protection enabled.

Tips for Safe Web Browsing

• Use secure internet connections – Look for “https://” in the URL, which indicates a secure connection.
• Adjust browser settings – Customize your browser settings to enhance privacy and security. For example, you can disable third party cookies and use private browsing modes. (Cookies are text files with small pieces of data, like a username and password, that are used to identify your computer as you use a network.)
• Be mindful of downloads – Only download files from trusted sources. Malicious software can be disguised as legitimate downloads.

Cybercrime is on the rise, and unfortunately no one is immune. People of all ages and income levels have been and continue to be affected. The first step in protecting yourself from becoming a victim is to be aware of the types of scams and the telltale signs that one may have targeted you. To help protect against financial fraud, consider adding a trusted contact to an investment account. A trusted contact can provide an extra layer of protection when something unexpected happens.

If you have questions on adding a trusted contact to an account, call a Jemma Financial Advisor at 855.662.2121 or click here.

1. FBI Internet Crime Report 2023. 2. World Economic Forum, Jan 2024. 3. IBM, Cost of a Data Breach Report 2024. 4. FBI Internet Crime Report 2023.