Without a doubt technology has made all of our lives easier. However, this increased use of technology gives hackers and thieves new ways to steal your personal information—without even breaking into your home! The good news is that custodians have steps in place to secure your information. And you can take additional steps to decrease the possibility you’ll become a victim.
What protection do you already have?
Custodians of assets take protecting your information very seriously. Schwab and Fidelity, two custodians Bedel Financial uses, take it a step further. If you are a victim of identity theft, they have their own security guarantees. Schwab will cover 100 percent of losses in any of your Schwab accounts due to unauthorized activity. Similarly, Fidelity will reimburse your losses from unauthorized activity in covered accounts, as long as they occur through no fault of your own.
Bedel Financial has additional security measures.. We use sophisticated electronic barriers on all of our computer systems to help prevent unauthorized access. Those barriers include three levels of firewall protection, along with anti-virus and spyware filtering that’s updated multiple times daily. We also provide a client vault (My BFC Keeper) for all clients who wish to participate. My BFC Keeper is fully encrypted and allows clients to securely share information. All communications go through a secure channel that’s encrypted with keys embedded in the private certificate.
How to protect yourself
Here are some simple steps you can take to help protect yourself and your investment accounts:
Be stingy when providing personal information.
If you receive an email requesting personal information, be cognizant of who it is coming from and why they might request such information. Some emails pretend to be from your financial institution and ask you for specific account details. Don’t share your private information through an unsecure source. If you receive an email like this, contact your financial institution to authenticate the email.
Be mindful of any unknown links or attachments in an email.
They could contain viruses to help them steal information.
Be conscious of information you input or share on public computers.
Hackers can install software on public computers that can steal or save the information you enter. Avoid inputting anything you don’t want the public to know.
Keep a close eye on your financial accounts.
Check them frequently to help identify fraudulent transactions. The earlier you spot it, the more easily it can be resolved.
Change your passwords often.
Although it’s a pain to remember all your passwords, it’s the easiest way to prevent someone from getting into your accounts.
Summary
Anytime your information becomes vulnerable, problems can occur. We urge you to take these steps, as well as others, to protect yourself and your investment accounts from fraud.
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