Vigilance against scammers has heightened as security firms notice an increase in fraudulent investment solicitation and hacking during global unrest. Scammers reach out via email, text, or phone posing as representatives of a well-known company or government agency. These unscrupulous promoters use current global and economic challenges to convince investors to give access to their personal computers or mobile devices and make recommendations of transferring retirement funds to “better” investment opportunities.
Using the following tips can help increase your awareness and can help reduce focus of the ever-watchful eye of scammers from targeting you.
- Be a hall monitor: Be sure to monitor your accounts (brokerage, banking, and credit) to spot potential fraudulent or suspicious activity. Contact your financial advisor, banking institution or credit issuer IMMEDIATELY if you notice questionable transactions or charges.
- Secure Your Locker: Don’t allow access to your personal device(s) or share confidential information with anyone who makes unsolicited contact with you. Make sure to set up multilayer account access and keep your passwords updated and protected.
- Do your homework: Ask for the solicitor’s name, firm, and contact information. Investigate both the background of the person and firm offering investment advice and opportunities. Report the scam to the Federal Trade Commission (FTC) online or by phone 877-382-4357
Visit TIAA and FIDELITY for additional information and ways to secure your investment accounts. For additional information on scams, visit Federal Trade Commission – SCAM Alerts.
