The affluent are 43% more likely to experience identity theft and are more likely to be targeted by fraudsters and scam artists. The primary scams are phishing (impersonating on online contact to evoke a response), ransomware (installing malware on your device or system to be removed for ransom), funds transfer fraud (causing you to unknowingly send money to a false account), and account takeovers (capturing usernames and passwords to access your accounts).
Some of the ways to protect your business and personal assets from such scams include:
- Security. Protecting your network, using strong passwords, requiring multifactor identification, and installing all updates and anti-malware.
- Caution/Slowdown. Scammers like a rush, so stop to check sources, follow-up on financial transactions, use duplicate communications, and only deal with reputable persons or entities.
- Verify. Don’t rely on or respond to unsolicited or unfamiliar communication sources, check the source and sender’s address, call to confirm, or respond to the source’s legitimate address.
- Avoid Imposters. Confirm that text, e-mail, phone and social media communications are from who you think and confirm the sender before responding to avoid imposters.
- Divide. Separate business e-mail addresses, phone numbers and social media accounts from personal or shopping accounts to create a firewall.
- Report. Don’t be afraid to admit or delay admitting you may have been duped, as quick action may limit your loss or enable a recovery.
- Seek Help. Get professional help if you are not sure about a situation or whether you have adequate protection.
The attorneys at Brooks, Tarulis & Tibble, LLC have assisted clients targeted by fraudsters and assisting with recovering. Please call if you have any questions or issues.