RL082 – How can you protect your personal information online?
Today on the Retirement Lifestyle Show, Roshan Loungani, Erik Olson, and Adrian Nicholson talk about cyber fraud and how criminals are now targeting gaming, leisure, and travel industries. They explain tactics used by criminals to target individuals, the pros and cons of using password managers, and how to protect yourself from potential attacks.
[03:30] Cyber fraud in a Post-Pandemic World
[08:50] Tips on How to Protect Yourself from Cybercriminals
[11:54] Credit Freeze and Fraud Alerts
[16:20] The Pros and Cons of Using Password Managers
[20:40] Cybercriminals Targeting Cryptocurrencies
[25:20] Are You Protecting Your Aging Parents from Online Fraud
Links and Resources
For more links and the full show notes keep scrolling down!
Roshan Loungani can be reached at email@example.com or at 202-536-4468.
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Adrian Nicholson can be reached at email@example.com or at 703-915-8905.
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Full Show Notes:
Cyber Fraud in a Post-Pandemic World
The pandemic might have forced people to adopt a virtual way of living and doing business, but it also opened pathways for cybercriminals to up their game. Now that most businesses and consumers have shifted their businesses online, a new wave of fraud has emerged, targeting most payment platforms in the country. The unprecedented changes in e-commerce have skyrocketed the number of criminals looking to exploit weaknesses in e-commerce sites. Although cybercriminals can target all major industries globally, the interesting part is that more of these attacks have shifted from financial services to the gaming, travel, and leisure industries. According to an article by CNBC, gaming, travel, and leisure industries in the US reported a 261.9% spike for gaming and 136.6% for travel and leisure for the number of reported cyberattacks.
As earlier mentioned, every industry can be targeted. And although you might feel like you can’t be attacked, nobody’s immune to these attacks. So, it always pays to have an extra layer of security for your online transactions. Remember, nearly 80% of successful fraud involve defrauding humans rather than criminals exploiting weaknesses in computer code.
Are You Protecting Your Aging Parents and Children from Online Fraud?
Although cybercrime affects people of all ages and backgrounds, children and the elderly are frequently at risk for most cyberattacks. This is because children and older adults make attractive targets. After all, they’re less likely to monitor their credit actively and are typically more trusting. For your kids, you could enact two-factor verifications for all online transactions. For your parent’s case, it might be harder to monitor how they transact online but always make sure the communication lines are open. Ask them to contact you in case they get asked about their private information.
Links and Resources
All opinions expressed by podcast hosts and guests are solely their own. While based on information that they believe is reliable, neither Arete Wealth nor its affiliates warrant its completeness or accuracy, nor do their opinions reflect the opinion of Arete Wealth. This podcast is for general informational purposes only, and should not be regarded as specific advice or recommendations for any individual. Before making any decisions, consult a professional.