Photo Gallery: Gallery: Ten Ways to Protect Your Client Data from Hijackers

Feb. 7, 2013

Nothing Is Free

Avoid using public Wi-Fi whenever possible, warned financial services technology expert, Bill Winterberg. Using a smartphone’s cellular network—many of which have 4G service across the country—is more secure, he advised, saying that using a cellular network is going to make it more difficult for hackers to “snoop.”
Look Into VPN Options

VPNs, or virtual private networks, act like a tunnel through the Internet, remotely connecting your computer to a secure server. Using a VPN connection ensures that all Internet communication is encrypted and protected against unwanted probing.
Stay Logged On At Your Peril

Many people forget or, for convenience, choose not to log out before closing out of an app. But not logging out means that cyber crooks intent on accessing your unprotected Internet sessions could stay on longer, increasing the potential danger, Winterberg says. “You don’t want to be the low hanging fruit,” he says.
Keep Up-To-Date

Advisors should be updating their software and apps as often as possible, especially when those updates that include security improvements. According to Symantec’s 2011 Internet Security report, approximately 50 percent of attacks are aimed at small and medium-sized businesses with less than 2,500 employees.
Forewarned Is Forearmed

A security system is only as good as its weakest link, says John Sileo, founder of Silio.com and a speaker on privacy and data security. Advisors should train staff to use best data security practices and recognize potential threats such as spear phishing attacks—emails that may deliver malware software to your computer or mobile devices.
Triple Check

Even with staff training, advisors should have redundancies in place to keep cyber thieves from impersonating clients, says Adam Levin, former director of the New Jersey Division of Consumer Affairs and co-founder of Credit.com and Identity Theft 911. Although many clients use email—which Leven calls an “inherently unsecure conduit”—to regularly communicate their advisor, there should be a system in place to verify the identity of a client, including follow-up phone calls or in-person meetings.
Responsible Safeguards

Despite the online dangers, advisors should also protect against the everyday loss and theft possibilities. Envision a “scorched earth” policy when it comes to password protection, as in, no device is exempt, including personal phones and tablets. Approximately 81 percent of employees use at least one personal device such as a tablet or smartphone for business use, according to a 2012 Harris Interactive survey.
Solid Defenses

Not only should advisors use passwords, they also need to use passwords that are long—generally at least six to nine characters—without having personal details such as birthday, age or social security numbers worked in.
Think Disposable

At the end of the day, smartphones and to some extent, tablet devices, should be treated as throwaway devices. All information stored on the device needs to be backed up in case something should happen, including loss and theft.
Wipe It Clean

While the Find My iPhone app is designed for iPhone users, there are also similar Android versions on the market. Every data security interviewed for this article recommended that advisors have a version on their mobile devices.

As tablet ownership continues to grow—doubling since 2011—and more than half of U.S. consumers owning a smartphone, according to a 2013 Forrester Research report, advisors need to be more vigilant about data security now more than ever. Here are 10 easily implemented safeguards that could prevent advisors from becoming an easy target for cyber thieves.

Take a look at the full article.

Gallery: Ten Ways to Protect Your Client Data from Hijackers

Nothing Is Free

Look Into VPN Options

Stay Logged On At Your Peril

Keep Up-To-Date

Forewarned Is Forearmed

Triple Check

Responsible Safeguards

Solid Defenses

Think Disposable

Wipe It Clean

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Gallery: Ten Ways to Protect Your Client Data from Hijackers

Nothing Is Free

Look Into VPN Options

Stay Logged On At Your Peril

Keep Up-To-Date

Forewarned Is Forearmed

Triple Check

Responsible Safeguards

Solid Defenses

Think Disposable

Wipe It Clean

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