Caution: Increasing Email Fraud
In this age of technology, people have to be even more careful to protect themselves from fraud. As a national firm, we have the resources and support in place to help ensure you and your accounts are protected. There has been some recent news around cases of email fraud attempts targeting clients’ personal computers and their accounts. Therefore, I wanted to inform you about what to look for and ways to protect your personal information.
A Scenario to Watch Out For:
A fraudster gains access to a client’s personal computer, obtaining information through their email account and searching contact lists or emails in their “sent” folder. The fraudster then sends an email to the client’s advisor (using the client’s personal email account) with instructions to wire funds to a third-party account, often overseas.
The level of detail in the email is designed to lure the advisor to believe in the authenticity of the request. The instructions may also be accompanied by a false letter of authorization, which is also sent from the client’s email account. In some cases, the fraudulent email stresses the urgency of the requested transfer, pressuring the release of funds before verifying the authenticity of the instructions.
To ensure this doesn’t happen to you, we have measures in place to protect you:
• We will not accept trading instructions over email
Your privacy and protection is very important to us. Given the reality of what these fraudsters are capable of, we are careful to look for:
• Rushed or explanations that are out of the ordinary for the request
To protect yourself, you need to be aware of how unscrupulous people may get your personal information:
• Removing mail from your mailbox or fraudulently redirecting your mail
As important as it is to protect yourself, it’s just as important to not panic. We have processes in place that can help ensure that this type of situation does not happen to you. As well, by keeping yourself well-informed, you will know how to protect your personal information.
We are here to help. Please contact us if you have any questions.