Vigilance is your strongest defense against potential threats in online trading. By staying informed and proactive, you safeguard your investments and contribute to a safer digital trading environment for everyone. Pure’s Senior Financial Advisor, David Cook, CFP®, AIF®, highlights common online attacks that could jeopardize your financial future and offers practical strategies to protect yourself from these risks.
Transcript
In today’s digital age, online trading has revolutionized how we invest, but with great convenience comes great risk. Welcome to the world where cybersecurity isn’t just about protecting your data, it’s about safeguarding your financial future.
Cybercriminals are constantly evolving, targeting online trading platforms which hold a treasure trove of sensitive financial information. So, here’s what you need to know:
Phishing Attacks: What are they? Think twice before clicking. Fraudsters create convincing fakes to steal your login details.
Malware and Ransomware: Malicious software can lock you out of your own accounts, then demanding ransom for you to access.
Man-in-the-Middle Attacks: Hackers can intercept your trading transactions, especially when doing so on unsecured networks.
Brokerage Hacks: Even the most vigilant of traders can be at risk if their brokerage accounts get compromised or the brokerage company itself.
Insider Threats: Sometimes, threats come from within, with rogue employees posing the risks.
So, how do you shield yourself from these threats?
Strong Authentication: You should always use two-factor or multi-factor authentication on your trading accounts.
Be Alert: Always verify authenticity of any emails that you get and also the authenticity of the websites that you use.
Secure Your Devices: Keep your software updated and use antivirus protection.
Monitor Regularly: It’s very important that you keep an eye on your account for any look for suspicious activity and monitor as often as you possibly can.
Use Secure Networks: Avoid using public Wi-Fi for trading, especially if you’re using personal information. Use VPNs for encryption.
Stay Informed: Educate yourself on the latest security threats out there.
Choose Wisely: Opt for reputable brokers known for their security measures and know what those security measures are.
Privacy Matters: Keep personal details off of social media.
Have a Plan: Know what to do if you’re attacked, from changing passwords to notifying the authorities.
In the realm of online trading, vigilance is your best defense. By staying informed and being proactive, not only safeguarding your investments but also contributing to a safer digital trading environment. Remember, in the digital marketplace, your security is your responsibility. Protect it, because in the end, it’s your financial future at stake.
Here at Pure Financial, we take security of your information very seriously and are committed to following recognized security standards and best practices to ensure your information remains secure. Now if you have questions or concerns, contact Pure for a free financial assessment.
Subscribe to our YouTube channel.
IMPORTANT DISCLOSURES:
• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, LLC, a Registered Investment Advisor.
• Pure Financial Advisors LLC does not offer tax or legal advice. Consult with your tax advisor or attorney regarding specific situations.
• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.
• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.
• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.
• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
CFP® – The CERTIFIED FINANCIAL PLANNER™ certification is by the Certified Financial Planner Board of Standards, Inc. To attain the right to use the CFP® designation, an individual must satisfactorily fulfill education, experience and ethics requirements as well as pass a comprehensive exam. Thirty hours of continuing education is required every two years to maintain the designation.
AIF® – Accredited Investment Fiduciary designation is administered by the Center for Fiduciary Studies fi360. To receive the AIF Designation, an individual must meet prerequisite criteria, complete a training program, and pass a comprehensive examination. Six hours of continuing education is required annually to maintain the designation.
