Tips for Preventing Fraud

Cybercrime and fraud are serious threats and constant vigilance is key. While Providence Wealth Planning plays an important role in helping protect your assets, you can also take action to protect yourself and help secure your information. This checklist summarizes common cyber fraud tactics, along with tips and best practices. Many suggestions may be things you’re doing now, while others may be new. We also cover actions to take if you suspect that your personal information has been compromised. If you have questions, we’re here to help.

What you can do

  • Be aware of suspicious phone calls, emails, and texts asking you to send money or disclose personal information. If a service rep calls you, hang up and call back using a known phone number.
  • Never share sensitive information or conduct business via email, as accounts are often compromised.
  • Beware of phishing and malicious links. Urgent-sounding, legitimate-looking emails are intended to tempt you to accidentally disclose personal information or install malware.
  • Don’t open links or attachments from unknown sources. Enter the web address in your browser.
  • Check your email and account statements regularly for suspicious activity.
  • Never enter confidential information in public areas. Assume someone is always watching.

Exercise caution when moving money

  • When dealing with your investment accounts, call our office so we can help you directly.
  • When working with your bank or other financial accounts, review and verbally confirm all disbursement request details thoroughly before providing your approval, especially when sending funds to another country. Never trust wire instructions received via email.

Adhere to strong password principles

  • Don’t use personal information as part of your login ID or password and don’t share login credentials
  • Create a unique, complex password for each website, Change it every six months. Consider using a password manager to simplify this process.

Maintain updated technology

  • Keep your web browser, operating system, antivirus, and anti-spyware updated, and activate the firewall.
  • Do not use free/found USB devices. They may be infected with malware.
  • Check security settings on your applications and web browser. Make sure they’re strong.
  • Turn off Bluetooth when it’s not needed.
  • Dispose of old hardware safely by performing a factory reset or removing and destroying all storage data devices.

Use caution on websites and social media

  • Do not visit websites you don’t know, (e.g., advertised on pop-up ads and banners).
  • Log out completely to terminate access when exiting all websites.
  • Don’t use public computers or free Wi-Fi. Use a personal Wi-Fi hotspot or a Virtual Private Network (VPN).
  • Hover over questionable links to reveal the URL before clicking. Secure websites start with “https,” not “http.”
  • Be cautious when accepting “friend” requests on social media, liking posts, or following links.
  • Limit sharing information on social media sites. Assume fraudsters can see everything, even if you have safeguards.
  • Consider what you’re disclosing before sharing or posting your résumé.

 How we can work together to protect your information and assets

Safe practices for communicating with our firm

  • Keep us informed regarding changes to your personal information and financial status
  • Expect us to call you to verbally confirm electronic requests to move money, trade, or change account information.
  • Expect us to ask for personal information to verify your identity if there are suspicious activities regarding your accounts and our communication
  • Help us by identifying trusted contacts or family members in case we have concerns about financial manipulation

Steps we take to stay vigilant

  • Regular training and audits of our computer systems in accordance with our branch office security policy.

What to do if you suspect a breach

  • Call our office immediately 951-465-6409 so that we can alert the broker dealer and custodians to watch for suspicious activity.

Learn more

 Consider Freezing Your Credit

  1. If you are not going to be making any utilizations of your credit, consider freezing your credit with all of the major branches
  2. To place a freeze on your credit reports, you need to call the credit reporting companies. There are three main ones. Equifax, Experian and TransUnion — and one smaller one, Innovis.

Keep in mind, credit freezes take time and cost money. To change the status, generally if can take upwards of 5 business days to process. A credit freeze CAN be lifted, however, that lift will cost money, and generally takes 3-5 business days to process. Keep this in mind if you are moving, buying a car, or applying for a new credit card

Here are the numbers to call:

  • Equifax — 1-800-349-9960
  • Experian — 1‑888‑397‑3742
  • TransUnion — 1-888-909-8872
  • Innovis — 1-800-540-2505

Additional information on credit freezes:

If you would like to know more about credit freezes with each of the major branches, please use the links below to gain a better understanding of each of their procedures.

Bob Chitrathorn is a Registered Representative with, and securities are offered through, LPL Financial. Member FINRA/SIPC. Investment advice offered through Strategic Wealth Advisors Group (SWAG), a registered investment advisor. Providence Wealth Planning and SWAG are separate entities from LPL Financial.

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