Best Cybersecurity Practices to Guard Your Finances

On this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Chief Compliance Officer Menachem Striks to discuss cybersecurity measures you should take to protect yourself and your money.

Here are some key takeaways from their conversation:

-          Menachem advises listeners to create complex, unique passwords (15 to 20 characters) for their accounts. Try not to use the same password for multiple accounts, as if one account is compromised, others can be jeopardized, too.

-          Password managers can help generate and store complex passwords. Apple’s new iOS 18 update includes a built-in password manager. 

-          Menachem suggests enabling two-factor authentication for accounts with sensitive information.

-          Be cautious with emails and phone calls to avoid phishing scams. Trust your gut instinct if you sense something is off. 

o    Make sure email addresses are legitimate before replying and limit how much you pick up phone calls from unknown numbers. If you do, try answering calls with a simple "hello" or staying silent initially to determine if the call is genuine. 

-          Stay aware of new phishing techniques and scams, especially as AI continues to develop. 

-          Morton consistently runs tests to ensure our internal network is secure and conducts comprehensive research on vendors we work with who have access to client information. We also train employees through phishing tests and are always staying on top of developments in the cybersecurity space.