Combating Cyber Crime
Submitted by Watters Financial Services, LLC on November 20th, 2015- IRS fraudulent calls
- Tax Returns filed and refunds taken by scammers
- Impersonation of the client at a bank to withdraw funds.
- Phishing attacks to a firm requesting client funds (This actually happened again to one of our clients yesterday)
- Fraudulent credit cards issued in the client’s name
- Clients have a secret password that they use whenever requesting funds.
- Clients are set up for electronic fund transfers from TD Ameritrade Institutional to their personal checking account.
- WFS calls clients to verify their identity whenever funds are requested via email.
- WFS encourages clients to change their passwords on key financial websites every 3 months.
- WFS uses an encryption software Citrix ShareFile®, when sending and receiving sensitive data and attachments by email.
- WFS has a picture of clients on file.
- WFS encourages clients to switch to email providers other than AOL.
- WFS uses Orion® as an online portal that allows clients to access their performance securely from anywhere in the world.
- Client data and paper documents are shredded after the appropriate holding period.