During prohibition, alcohol was very lucrative for crooks. Today, cybercrime has taken its place. You cannot turn the news on without hearing of someone having their identity stolen or email hacked. As information continues to move at the speed of light through different social media and electronic channels, this is only going to become a bigger and more expensive problem for everyone.
Our firm, as well as our investment custodian, Charles Schwab, has worked hard to stay ahead of the onslaught of fraud attempts. We want to share with you some of the precautions implemented to protect our clients.
Schwab is also doing their part and in an expeditious manner. As a matter of fact, the morning I wrote this, we received an “alert” someone may have obtained a client’s username and password to log into their account. To protect the client, Schwab restricted the online account access and will actively monitor that client account for suspicious activity. This allows us to notify the client immediately and suggest they run a virus check on their computer.
Remember the old slogan “help take a bite out of crime”? Don’t be a victim of the evolution of crime, and take the necessary steps to protect your information. We will stay vigilant as well.
- Written by Bonnie Struck, Worley Erhart-Graves Financial Advisors