By Nino Pavan, J.D., CFP®
As President and CERTIFIED FINANCIAL PLANNER™ professional at Financial Designs, my top priority is helping clients pursue their goals while managing and preserving their wealth. I always aim to help my clients with financial education, meticulous planning, and clear guidance for their family and their future.
With the increasing prevalence of cyber attacks, the job of safeguarding your wealth is becoming more expansive, into areas we previously hadn’t thought about. We believe it’s more important than ever to take steps to shield yourself and your financial assets—particularly in the online realm.
Today I want to share a few practical tips and best practices for protecting yourself from cyber attacks. By following these steps, you can reduce your risk and help keep your personal and financial information safe.
Password Manager
Having a password manager helps to securely store and organize all your passwords, allowing you to create strong and unique passwords for each of your accounts. This reduces the risk of having your accounts compromised due to weak or reused passwords. Additionally, a password manager helps streamline the login process and eliminate the need to remember multiple passwords. Sites like LastPass and 1Password are two options to consider.
VPN
Using a VPN enhances online privacy by encrypting your internet traffic and masking your IP address. This helps to protect sensitive personal and financial information, such as login credentials and online banking transactions, from being intercepted by cybercriminals. A VPN should be used all the time on your iPhone, iPads, laptops, and other devices. Some good options for a VPN service include ExpressVPN and NordVPN.
Encryption
Encrypting storage devices, such as laptops and external hard drives, helps protect the confidentiality and integrity of stored data. If the device is lost or stolen, encrypted data will be unreadable without the proper decryption key, reducing the risk of sensitive information falling into the wrong hands. Apple computers have FireVault installed on them which encrypts the information on the Mac. To enable FireVault follow these easy steps.
Firewalls
Using a firewall helps increase overall network security and reduce the risk of data breaches and cyber threats. Essentially, they help prevent unauthorized applications, programs, and services from accepting incoming connections.
Anti-Malware
Anti-malware programs help protect against a range of threats, including viruses, worms, Trojans, spyware, and other forms of malware that can cause harm to your computer or steal sensitive information. Regular use of anti-malware programs helps prevent system slowdowns, crashes, and other issues caused by malware infections, providing a critical layer of security for any computer or device. Some options for anti-malware protection include Malwarebytes and Avast.
Update Software
Regularly updating software programs ensures that security vulnerabilities and bugs are fixed, protecting the software and any sensitive data it may handle. To increase your computer’s performance and lower the risk of attacks, keep your operating systems, software, and anti-malware programs updated.
Update Hardware
Using modern hardware can also help provide the best security advancements against cyber threats. Hardware includes routers, Wi-Fi, computers, phones, laptops, etc.
Cyber Hygiene
Cyber hygiene refers to basic practices and habits to maintain the security and privacy of personal and sensitive information when using technology. To protect yourself, be more cautious about clicking on links that come to your email, which can be “phishing” attempts to get you to click on a fake link so the hacker can obtain your username and password.
Public Wi-Fi and Cell Signals
Using public Wi-Fi networks can be risky because they often lack encryption and proper security measures, leaving sensitive information vulnerable to interception and theft by cybercriminals. Cell signals can also be spoofed by creating a fake cell tower, allowing an attacker to intercept voice and data communications, steal sensitive information, and even manipulate GPS data. To lower these risks, if you need to use public Wi-Fi, be sure to use a VPN.
Choosing the Right Devices
Next time you’re in the market to buy a new laptop, cell phone, or tablet, take the time to learn about the security and protection features your new device offers. Generally, Apple products tend to be more secure than others. However, the biggest weak spot in terms of security is human error! Many hacks rely on people making careless mistakes and revealing usernames, passwords, or other access to personal information.
Defend Your Wealth
They say the best defense is a good offense. We know you might not be familiar with all the topics discussed above. But because it’s essential to safeguard your personal information and financial accounts, we recommend being proactive—get in the know so you can better protect yourself from cyber attacks.
Do you need help understanding how? The Financial Designs team is ready to help. We are committed to safeguarding your wealth and empowering you to pursue your long-term objectives with confidence, no matter what life throws your way. Reach out at fdc@fdcadvisors.com to get started today.
About Nino
Nino Pavan is President and a CERTIFIED FINANCIAL PLANNER™ professional at Financial Designs, a retirement planning firm in Claremont, California, with the mission of enabling individuals and families to financially prepare for and confidently enjoy their retirement years through goal-centered planning. With more than 30 years in the financial services industry, Nino is thankful for the opportunity to serve his clients by making the retirement process a stress-free one; he worries about their money so they don’t have to!
Nino holds a law degree from the University of Southern California, a Bachelor of Science in Telecommunications Management from DeVry Institute of Technology and has been a contributing advisor to Kiplinger. In addition to being a CERTIFIED FINANCIAL PLANNER™ professional and Investment Advisor Representative, Nino has passed the Series 7, 24, and 63 securities exams and holds life and disability insurance licenses. He also conducts retirement and estate planning workshops for employees of major California companies. Outside of the office, Nino enjoys sports (regular and fantasy), traveling (specifically tropical destinations), walking, pickleball, church activities, and spending time with his wife Sherry and their two children, Derek and Sara. To learn more about Nino, connect with him on LinkedIn.
