Cyber scams are nothing new—they’re increasing in frequency. Our global community’s mass increase in digital solutions creates an environment that is ripe for bad people to do bad things. Even the U.S. Health and Human Services Department was the target of a cyberattack on its computer system.

Every day, con artists are looking for the best “marks.” As individuals, we should be prepared for heightened activity for scams, and if you think you’re not worth being the target of online predators—think again! Your identity, financial data, and what’s in your email is all valuable. Cyber criminals cast as wide a net as possible to get to anyone they can. They’re counting on you thinking you’re not a target.

So how can you reduce the chances of falling for the scams? Let’s start with the basics.

4 Easy Ways to Protect Your Identity Online

There are four easy and common-sense ways to begin protecting yourself online.

1. Turn on Multifactor Authentication

Implement multifactor authentication on your accounts and make it 99% less likely you’ll get hacked. Whether it’s called Two Factor Authentication, Multifactor Authentication, Two Step Factor Authentication, MFA, or 2FA, they all mean the same thing: opting-into an extra step when trusted websites and applications ask you to confirm you’re really who you say you are.

Instead of asking you for a password—which can be reused, more easily cracked, or stolen—they can verify it’s you by asking for two forms of information:

• Something you know, like a PIN or your sister’s middle name, along with
• Something you have, like an authentication application or a confirmation text on your phone, or
• Something you are, like a fingerprint or FaceID 

That second step is a lot harder for a hacker to fake. So, prove it’s you with two steps. 

2. Update Your Software

Scammers exploit flaws and weak points in the system. Network defenders are working hard to fix them as soon as they can, but that means all of us need to be updating our software with their latest fixes. 

Update the operating system on your mobile phones, tablets, and laptops. And update your applications (especially the web browsers) on all your devices too. Even better: leverage automatic updates for all devices, applications and operating systems. 

3. Think Before You Click

Have you ever seen a link that looks a little off? It looks like something you’ve seen before, but it says you need to change or enter a password. Or maybe it asks you to verify personal information. It could be a text message or even a phone call. They may pretend to be your email service, your boss, your bank, a friend. The message may even claim it needs your information because you’ve been a victim of cybercrime. 

It’s likely a phishing scheme: a link or webpage that looks legitimate but is a trick designed by bad actors to have you reveal your passwords, social security number, credit card numbers, or other sensitive information. Once they have that information, they can use it on other sites. And they may try to get you to run malicious software, also known as malware. Do not respond, provide personal information or payment to these individuals. Their actions are crimes and should be reported.

Sadly, we are more likely to fall for phishing than we think. More than 90% of successful cyberattacks start with a phishing email. Generally speaking, businesses and government agencies do not reach out to you asking for sensitive information, so if you receive a call or email claiming to be from the Treasury Department, IRS or other government entity, you should be on high alert. If it’s a link you don’t recognize, trust your instincts, and think before you click.

4. Use Strong Passwords

Using a password that is easy is like locking your door but hanging the key on the doorknob. Anyone can get in. Generally, you want to make sure your password is: 

• At least 15 characters
• Never used as a password across other apps or websites
• Randomly generated (usually by a computer or password manager—they’re better than humans at being random)

You can use a password manager to store all your passwords, so you don’t have to remember them all. If you go this route, make sure your master password is strong and memorable, and secure your password manager account with MFA! 

Known Scams to Look Out For

The Federal Trade Commission (FTC) and FBI have identified a few different types of common scams that have been reported (and what you should do if you see them), including:

• Undelivered Goods: This is a scheme most often linked to internet auction fraud, but it also can be considered a form of business fraud in certain cases.
• Fake Charities: Scammers use major health events to set up donation sites for fake victims or use names that sound a lot like real charities.
• Fake Emails, Texts and Phishing: They try to get you to share your personal information to steal your money, your identity, or both. They also try to get you to click on a link that installs ransomware or other programs to lock you out of your data and gain access to your computer or network.
• Robocalls: Illegal robocalls pitch everything from car warranties to free hotel stays or cruises to get your information.
• Misinformation and rumors: Scammers (and sometimes well-meaning people) share information that hasn’t been verified and may be entirely false.

How to Report Scams and Fraud

If you do come across a scam, there are a few methods available to report them to authorities, including directly to the FTC or FBI so that the scammers can be tracked and stopped. If they claim to be from the Treasury Department, report it to OIGCounsel@oig.treas.gov, or if they claim to be from the Internal Revenue Service (IRS), report it to phishing@irs.gov. Be sure to include as many details as possible, such as:

• The exact date and time that you received the calls or emails
• The phone number of the caller
• The geographic location and time zone where you received the call or email
• A description of the communication

Not sure what you came across is a scam? Reach out to your financial advisor with a screenshot or details about the suspicious communication and they can help direct you to the appropriate action to take.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.