Key Points

• Cyber threats are on the rise during the COVID-19 pandemic.

• There are simple steps that you can take to safeguard your personal information online: increase password length and uniqueness; utilize a password management system; practice safe email habits; and take advantage of electronic approvals and two factor authentications whenever possible.

• Capstone is committed to safeguarding client personal information by offering clients access to secure client portals; password-protecting any sensitive documents that are sent by email; and utilizing electronic approvals and workflows whenever possible when moving funds or setting up new accounts.

According to the Cybersecurity and Infrastructure Security Agency (CISA), the current pandemic has led to an increase in cyber threat activity, specifically with several Covid-19 related scams. In addition, many businesses have switched to remote work environments, which has heightened the cyber vulnerability of many Americans due to the increased use of less-secure virtual private networks or VPN’s.¹ This combination of factors has intensified the need for individuals to be more diligent with their digital footprint.

How to safeguard your online presence

Due to the increased risk, below are recommended steps to take to safeguard your online presence and decrease your chances of falling victim to a cyber security breach:

1. Password Length: Current data indicates a safe password should now be at least 12 characters in length. Hackers have software tools that allow them to test out potential passwords at an alarmingly fast speed. By switching to longer unique passwords that are a sentence with spaces or a phrase, you can significantly reduce your risk of having an online account login compromised.²

   • Password example: “Capstone is the best 123*” instead of “Capstone123”

2. Password Management System: In today’s digital world, basically everything requires a login with a password: bank accounts, email, grocery delivery, streaming services, entertainment apps, and home utilities just to name a few. Given the quantity of logins one must manage, keeping each password unique and secure is a seemingly impossible feat. The use of a password management system can help ease the burden and safeguard your information, and thankfully reduce the amount of times you must hit the “forgot password” link. The technology publication Wired.com vetted and recommended the following options³:

   1Password, Bitwarden, Dashlane, KeePassXC, NordPass, LastPass, RememberBear, Enpass, or Keeper Password Manager

3. Safe Email Habits & File Sharing: Email is the number one way that hackers infiltrate and gain personal information from individuals. Even with proper password habits, email is vulnerable because of the amount of information that flows in and out. Extra precautions need to be used with sensitive personal information such as social security numbers, bank account numbers, and other financial information. These items should always be sent by a secure method when communicating via email:

   There are a variety of ways to accomplish this, such as utilizing a secure portal to share information with the recipient, password protecting documents, and taking advantage of DocuSign or other electronic approval and signatures options whenever possible.

   Most financial institutions will have processes in place to assist in this area and can help as needed.

4. Two Factor Authentication: This requires a second form of identity verification after the initial username and password are entered. Two-factor authentication can be achieved with a phone number, PIN, security questions, or even bio-authentication like facial recognition or fingerprint – this method is commonly used with newer smart phones like iPhones and Android devices.

What steps is Capstone taking to protect client information?

Capstone is committed to protecting your personal information and identity. We offer all clients access to a secure client portal to share documents both ways with your service team. If email is being utilized to share information, we use password protection to secure any document that includes sensitive data. Finally, to safeguard our clients’ personal information, our Client Service Specialists make use of electronic approvals and workflows whenever possible when moving funds or setting up new accounts.

It is safe to assume that cyber threats will continue to increase long after the pandemic ends. However, your risk and exposure do not need to increase along with it. With a conscious effort and a responsible financial partner, you can tangibly decrease cyber vulnerability while increasing your peace of mind.

Sources

¹ https://us-cert.cisa.gov/ncas/alerts/aa20-099a

² https://www.stopthinkconnect.org/resources/preview/tip-sheet-basic-tips-and-advice

³ https://www.wired.com/story/best-password-managers/