How to Stay Safe Online

There has been a growing and concerning number of issues relating to financial scams, particularly those involving email hacking and fraudulent communications.

There has been a significant increase recently in the number of financial scams that are targeting individuals. These scams are often orchestrated by highly skilled hackers who gain unauthorised access to email accounts which enables them to exploit the trust and familiarity between the victims and their contacts.

The first step involves hackers infiltrating an email account, often through phishing attacks or exploiting weak passwords. Once they gain access, they will monitor the email exchanges, gathering information about ongoing transactions, personal relationships, and financial matters.

Once armed with this information, the hackers create fake email addresses that copy or closely resemble those of the victim’s contacts. They then send out emails from these counterfeit addresses, often mimicking the writing style and tone of the genuine sender. Initially, these emails may not ask for money directly; instead, they aim to build trust by engaging in friendly conversations or sharing seemingly relevant information. Once the hackers have established trust, they send out urgent requests for money transfers, payment of invoices, or sharing of sensitive information. Because the emails appear to come from trusted sources and the relationship has been established, recipients are more likely to comply without suspicion, leading to substantial financial losses.

To protect yourself and your contacts from falling victim to such scams, here are some precautionary measures:

• Use Strong, Unique Passwords and enable two factor authentication (2FA) where possible.
• Always double-check the sender’s email address for any anomalies and verify urgent requests through a secondary communication method, such as a phone call.
• Avoid clicking on links or downloading attachments from unknown or suspicious emails. Even if the email appears to be from a known contact, it’s wise to confirm its authenticity before proceeding.
• Regularly review your email account for any unauthorised access or unusual activity. Most email providers offer security features that can alert you to potential breaches.
• Stay informed about the latest scam tactics and share this knowledge with colleagues, friends, and family to raise awareness and foster a community of vigilance.

At Smith & Pinching, we prioritise the security and trust of our clients above all else. As part of our commitment to safeguarding your financial information, please be aware that we will never request money or sensitive personal information via email.  Any such communication should be considered suspicious and reported to us immediately.  We employ robust security measures and conduct all financial transactions through secure, verified channels to ensure your safety and peace of mind.  If you ever receive an email purporting to be from Smith & Pinching that asks for money or confidential details, please do not respond and contact our office directly on 01603 789966 for verification.

In conclusion, while technological advancements have greatly benefited our daily lives, they have also opened up new avenues for malicious activities. By staying vigilant and adopting robust security practices, we can protect ourselves and our communities from the devastating impact of financial scams.

Should you have any questions or need further information, please do not hesitate to contact us.