Stay Safe This Scam Awareness Week & Protect Your Financial Information

28 Aug

Scam Awareness Week is here, and at Strategem Financial Services, we're committed to keeping your financial information safe and secure.

As scammers continue to evolve their tactics, it's more important than ever to stay vigilant and informed. In the world of financial services, protecting your personal details is crucial.

Here are some key tips to help you stay safe and avoid falling victim to scams:

✔️ Keep Personal Details Safe

Never send sensitive information, such as bank details or your Tax File Number (TFN), via email. Email is not a secure method of communication, and scammers can easily intercept your details if they're sent this way. Always use secure methods when sharing personal information.

✔️ Beware of Suspicious Text Messages

If you receive a text message with a link, do not click it—especially if it comes from an unknown sender. Scammers often use text messages (known as "smishing") to lure you into clicking harmful links that can compromise your financial security.

✔️ Be Cautious of Unknown Emails, Websites, and Links

Phishing emails and fraudulent websites are common tools used by scammers to trick you into providing personal information. Always be cautious when receiving emails from unknown senders or when visiting unfamiliar websites. Look out for signs of phishing, such as poor grammar, generic greetings, and suspicious-looking URLs.

✔️ Validate Before You Act

If you receive an email, text, or phone call that seems suspicious, don't rush to respond or act. Take the time to verify the legitimacy of the communication. Contact the company directly through a known and trusted method—never use contact details provided in the suspicious communication itself.

✔️ Call Us if You’re Unsure

If you ever receive communications that seem suspicious or ask for personal information, we encourage you to call us directly. Our team at Strategem is here to help you validate the legitimacy of the request and ensure your financial information remains secure.

Cybersecurity is a shared responsibility, and by staying vigilant, you can protect yourself from the growing threat of scams. For more tips on how to stay safe online, check out our previous blog on 10 Tips for Better Cyber Security or continue reading below.

10 Tips for Better Cyber Security

We live in a digital world where our business data and (crucially) our personal data is under constant attack. Hackers are always looking for new ways to break into your systems, databases, and sourcing personal information – and this has resulted in many significant data breaches in recent years.

When your security is breached, and your data is compromised, it’s a breach of trust. If you’re a business owner, this could be between you, your customers and your suppliers – one that can be hugely damaging for your brand reputation and consumer’s perception of the company.

So what can you do to enhance your cybersecurity and protect your valuable data?

1. Keep your Software Up to Date

One of the most important cyber security tips is patching outdated software, both operating systems, devices, and applications. This helps remove critical vulnerabilities that hackers use to access your devices.

2. Use Anti-Virus Protection Software and Firewall

Anti-virus (AV) protection software and firewall software is important in defending your data against malicious attacks. A Firewall, alone, helps screen out hackers, viruses and other suspicious activity occurring over the Internet, and decides what traffic is allowed to enter your device.

3. Use Strong Passwords

Passwords are incredibly important for keeping hackers out from gaining your data. A strong password should have at least one lowercase letter, one uppercase letter, one number, and four symbols, but not the following &%#@_.

4. Use Two-Factor Authentication

This method allows an additional layer of security to your information.

5. Learn more about the nature of suspicious of emails and phone calls

The number of scams has significantly increased following the pandemic. Remember to not open an email if you don’t know the sender. Be suspicious of links and emails with grammatical errors in them. Malicious links can also come from friends who have been infected.

6. Protect your sensitive Personal Identifiable information

Personal information like your name, date of birth, phone number, address, and Social Security Number can be used to learn further information about you. Review your private settings on all social media accounts.

7. Secure your mobile devices

Create a difficult mobile password, not your date of birth or Bank Pin. Make sure everything is updated, install apps from trusted sources only and regularly backup to iCloud or Enabling Backup & Sync.

8. Back up your data regularly

Keep three copies of your data in three different places, or at least on two different devices to avoid losing information if there is a crash.

9. Read the Terms and Conditions when signing up to accounts, websites, programs etc.

Most people often skip reading the Terms and Conditions of sites and sign up accounts. You may be allowing some websites, businesses and organisations to have access to your data as well as information on the device you use, without knowing it.

10. Review your Online Accounts regularly

It is important to check your Online Accounts regularly for suspicious activity. Be prepared to freeze any account if a security breach occurs.

If you want to reduce your security worries, it’s sensible to speak to a cyber security expert. They will be able to review your current systems, networks and security practices and advise you on the key actions that are needed to tighten up your security.

We are here to help

If you need further advice on this topic, please do not hesitate to contact our office on (03) 5445 4777 and one of our Accountants will be available to support you.

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