Cybersecurity- How to Protect Yourself

By Lexington Wealth Management on January 18, 2024

Cyber threats are a leading risk to both individuals and businesses in our digital world. For this month’s insight, we wanted to provide education on good digital practices and highlight the value of strong cybersecurity awareness. Here are some helpful ways to be alert when managing your email and web account(s).

• Passwords:
  • Use a strong password. Passphrases are now recommended; they are more memorable for yourself and more difficult to compromise.
  • It is known that your email password is the most important password to protect. It is a gateway to all of your other information that cybercriminals can access.
  • Try to avoid reusing passwords.
  • If possible, use a two-factor authentication.

We now live in a world where we are attached to our cell phones. We need to be just as cautious on our cell phones and tablets as we are on our computers. We receive emails and texts all day. It is especially important that we read all correspondence very carefully before clicking on any links and attachments within your email and TEXT! Malware and Phishing attacks can compromise your contact records, phone conversations, find your location, and manipulate text messages.

Remember to be suspicious of emails and texts that ask you to update your information – passwords, accounts etc. and that sound too good to be true or have urgency, typos, etc. Think before you click on any attachments and links. Always hover over links to see their true destination and sender details for inconsistencies.

If you are questioning why, you received an email, before clicking on the links/attachments, call that person to verify that it is a legitimate email. Do not click on any links. Go directly to the trusted HTTPS site to verify that the email is legitimate.

Pay close attention to file extensions on any attachments. If a file extension looks unusual do not open!

Pop-up windows are also a gateway for cybercriminals. Do not click on anything in or on pop-ups. To close out the pop-up, close out your device. Do not download applications from pop-ups. Obtain add-ins and downloads from a reputable source.

If you have been compromised within your company devices, immediately contact your IT department and they will work with you on steps to take.

If you have been personally compromised:

• Call your Advisor so they can watch for any suspicious activities on your investment accounts.
• If you feel your social security # has been compromised call Social Security Administration’s fraud hotline at 800-269-0271
• Contact the Federal Trade Commission (FTC), either at www.identitytheft.gov, by calling 1-877-IDTHEFT (TTY 1-866-653-4261), or by visiting www.ftc.gov. Click on Report Identity Theft to access the Identity Theft Recovery Steps. This one-stop resource for victims of identity theft will guide you through each step of the recovery process, from reporting the crime to creating a personal recovery plan and putting your plan to action.
• Visit the IRS website https://www.irs.gov/uac/taxpayer-guide-to-identity-theft if you’re the victim of tax fraud. You’ll be able to access the Taxpayer Guide to Identity Theft, which provides education on tax-related identity theft, tips to reduce your risk, and steps for victims to take.
• Report your stolen money and/or identity to one of the three main credit bureaus. Provide the credit bureau with your police report number and ask them to place a fraud alert on your account to prevent additional fraudulent activity. Once the fraud alert is activated, the two other credit bureaus will receive automatic notification and the fraud alert on your credit report will be in place for seven years with all three credit bureaus. (Without your police report number, the alert will only be in place for 90 days.)
  • Equifax – 1-800-525-6285
  • Experian – 1-888-397-3742
  • TransUnion – 1-800-680-7289

• Put a freeze on your credit report with each of the main credit bureaus to prevent the unauthorized opening of accounts. Executing a freeze with one credit bureau will NOT automatically update the others. You can easily unfreeze your credit report when needed. Contact the credit bureaus using this contact information for freezes.

Visit these sites for more information and best practices:

• StaySafeOnline.org: Review the STOP. THINK. CONNECT™ cybersecurity educational campaign.
• OnGuardOnline.gov: Focused on online security for kids, it includes a blog on current cyber trends.
• FDIC Consumer Assistance & Information, https://www.fdic.gov/consumers/assistance/index.html.
• FBI Scams and Safety provides additional tips, https://www.fbi.gov/scams-and-safety.

Lexington Wealth Management is registered with HighTower Securities, LLC, member FINRA and SIPC, and with HighTower Advisors, LLC, a registered investment advisor with the SEC. Securities are offered through HighTower Securities, LLC; advisory services are offered through HighTower Advisors, LLC. This is not an offer to buy or sell securities. No investment process is free of risk, and there is no guarantee that the investment process or the investment opportunities referenced herein will be profitable. Past performance is not indicative of current or future performance and is not a guarantee. The investment opportunities referenced herein may not be suitable for all investors. All data and information referenced herein are from sources believed to be reliable. Any opinions, news, research, analyses, prices, or other information contained in this research is provided as general market commentary, it does not constitute investment advice. The team and HighTower shall not in any way be liable for claims and make no expressed or implied representations or warranties as to the accuracy or completeness of the data and other information, or for statements or errors contained in or omissions from the obtained data and information referenced herein. The data and information are provided as of the date referenced. Such data and information are subject to change without notice. This document was created for informational purposes only; the opinions expressed are solely those of the team and do not represent those of HighTower Advisors, LLC, or any of its affiliates.