Hacking and cybercrime have been on the rise. I’m sure I’m not telling you something you don’t already know, but what you might not know, is that a growing trend among cyber criminals is specific targeting of high-net-worth individuals. In these attacks, hackers will identify a target and develop a victim profile based on public and private information with the goal of stealing assets from financial accounts.
How do you secure your financial accounts from cyber criminals? While there is no silver bullet solution to prevent every type of cyber-attack, there are many steps that can be taken to harden your cyber security.
Fidelity offers readers a primer on recent trends in cybercrime and measures they can take to protect their financial accounts. Below is an excerpt from the piece.
You’ve likely spent a good deal of time thinking about investment risk. But have you stopped to think about more personal security issues, such as the safety of your online financial transactions and information stored on your computers? While most people recognize that online fraud or cybercrime is a potential threat, few know how or why they may be at risk. Cybercrime can take many forms, and understanding who the enemies are and how they commit crimes, may allow you to better defend yourself.
How to keep your online accounts safe
Fidelity is a global leader in security and risk mitigation, and we know that high-net-worth individuals are especially attractive targets for cyberattacks. This article is intended to be educational and help you improve your defenses against the most common threats to your online security.
The “Bad Guy”
Economic cybercriminals pose the greatest online risk to your family’s personal financial data and assets. Make no mistake, many of these thieves are highly skilled and sophisticated. They may be individuals or coordinated groups that use technology to steal. For most of us, cybercrime can best be described as an extension of traditional criminal activity focused on personal financial data and monetary theft.
How do cybercriminals operate?
In some cases, cybercriminals cast a wide net with “phishing” scams, among others, and hope the sheer quantity of potential victims will yield sufficient economic benefit.
Be sure to read the entire article here.
Jeremy Jones, CFA
Latest posts by Jeremy Jones, CFA (see all)
- The Retail Robot War Has a New Front: Groceries - July 22, 2019
- Are you Part of the Herd Inflating the Indexing Bubble? - July 19, 2019
- Man vs. Machines: Can Humans Win a New Stock Market War? - July 18, 2019