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Defending Cybersecurity Threats in Your Financial Life

Feb 19, 2020

This episode of The Confident Wealth Practice Podcast with Bill Bush and Pete Bush address the problems and issues associated with cybersecurity and how to protect yourself. Learn more about the financial scams that are targeting your credit cards and digital banking accounts. The cybersecurity defenses discussed in this episode can help you build up a stronger wall of protection from becoming a victim.

 

 

Episode Highlights:

 

  • 01:36 – Bill Bush and Pete Bush introduce the topic of cybersecurity.
  • 02:03 – Pete Bush talks about having a credit card compromised.
  • 02:35 – Bill Bush talks about having his email password compromised.
  • 04:07 – Pete and Bill discuss a new cell phone scam to be on the lookout for.
  • 04:52 – Storing your credit card numbers on websites makes you more exposed

             for fraud.

  • 05:24 – Create unique passwords.
  • 05:57 – Keep your security software current.
  • 07:30 – Pay attention to your accounts and your updates.
  • 08:02 – Set up alerts for account activity.
  • 09:14 – Check your credit card reports for suspicious activity.
  • 10:24 – Get into a daily habit of checking your cash-flow accounts.
  • 11:45 – Watch out for skimming devices that often happen at gas station pumps.
  • 12:38 – Use cash for small purchases.
  • 13:13 – Look into identity protection.
  • 14:42 – Notify your credit card company when something is wrong and

             consider a credit freeze.

.

 

3 Key Points:

  1. Beware of a new scam where people are taking other people’s cell phone numbers, porting them to a different phone and when the two-factor authorization comes in it goes to their phone instead of the victim’s phone.
  2. The best defense is to have a good offense and take proactive steps to limit your exposure to fraud.
  3. Check your financial cash-flow accounts daily.

 

Tweetable Quotes:

  • “Your information is still out there and there are bad people waking up everyday trying to figure out how to take it.” – Pete Bush.
  • “Make sure you have multiple passwords and one for every different account.” – Bill Bush.
  • “The more you shop online, the more your family is out there with cards stored on sites and things like that, you are just more exposed.” – Pete Bush.

 

 

Resources Mentioned: