Protecting Your Digital Wealth: Cybersecurity at Home

Cybersecurity is always top of mind for the Peak Asset Management Team and our technology vendors. We set and rigorously follow data protection policies designed to minimize the risk of breaches and safeguard both our data and our clients’ information. With advancements in technology and computing power, hackers and fraudsters are continually increasing the scale, diversity, and trickiness of their attacks. It’s more important than ever to stay informed and take simple steps to protect yourself.

If you are ever concerned that you’ve been targeted, or feel uneasy about the safety of an email, phone call, or text message, you can always reach out to your advisory team at Peak for help. You can also be proactive about your data security and make yourself a difficult target. Here are some key considerations for maintaining cybersecurity at home:

1. Strengthen Your Passwords

• Use unique, complex passwords for each of your accounts. A password manager can make this more practical.
• Enable multi-factor authentication (MFA), a second step verification like a text message or face ID, on your accounts.
• Choose highly specific security questions, avoid questions with answers easily found online like your dog’s name or the street you live on.
• Turn on new login notifications for your accounts.

2. Secure Your Wi-Fi Network and Smart Devices

• Always change default passwords on your router, smart home accessories, and any other wi-fi connected devices.
• Ask your internet provider to enable encryption on your router. Encryption scrambles your data so it’s not readable if someone gains access.
• Avoid public wi-fi networks when possible and never check the box to allow other devices on a public network to access yours.

3. Keep Your Devices Updated

• Regularly update your operating systems, browsers, and apps.
• Enable automatic updates when possible.

4. Protect Your Smart Devices

• Use access security features like PINs, Face ID, or fingerprint scanners.
• Only download apps from your device’s official app store.
• Review app permissions and limit access to personal or location data.
• Keep your devices and apps up to date (you can enable automatic updates). Updates often patch known weak spots in software.

5. Be Aware of Phishing & Social Engineering Risks

• AI can craft highly convincing phishing messages that often have a very urgent tone. Be skeptical of any requests for immediate action and hover over links to review them before clicking.
• Fraudsters are using AI to generate fake voice and video messages from people you know. If you receive a call from someone you know on a number you don’t recognize, hang up and call that person on a known number.
• Always verify urgent requests for money or personal info by contacting the person or business directly using a known number. 
• When receiving an email prompting you to log into one of your accounts, go directly to the login webpage rather than navigating via the email link.
• Be skeptical of login attempt notifications and, if it wasn’t you, update your password.

Try as we might, sometimes data gets compromised anyway. If you think you’ve been exposed you can take the following steps to re-secure your network and accounts, and hopefully prevent any further damage: 

1. If you know the source of the breach, remove access to connected apps and payment methods.
2. Update passwords and security questions; ensure multi-factor authentication is enabled.
3. Notify your bank, Peak Asset Management, and other financial institutions.
4. Contact a credit bureau to place a fraud alert or freeze your credit.
5. Report the breach at identitytheft.gov.

Cybersecurity can often feel complicated and overwhelming, but by taking a few simple precautions, you can protect your personal information and feel more confident online. And remember, you’re not alone, your team at Peak Asset Management is always here to help. If you ever feel unsure or have questions, don’t hesitate to reach out. Together, we can stay one step ahead of cyber threats.