Identity Theft & Security
Fueled by the explosive
growth of online information, identity theft is on the rise. In fact,
law enforcement agencies are reporting that this type of criminal
activity is becoming increasingly organized and sophisticated.
Much
of this private information is readily available in the public domain.
Other information may be simply stolen from an unsecured mailbox, or
obtained through fraudulent means such as “phishing,” in which false
account notices are emailed with links to phony versions of well-known
websites (such as banks or shopping sites).
Still other thefts
involve tricking computer users to unwittingly download viruses or
spyware by pretending to offer free software that will improve their
computer’s security. Once installed, these programs secretly transmit
data (such as usernames and passwords) to the thieves, who are often
overseas.
The ease and speed with which identify theft can be
accomplished, the losses that result, and the complexity and time
required to stop the activity, are costly and nerve-wracking. Actual
losses are seldom recoverable; furthermore, they are greatly
exacerbated by the huge ongoing stress and hassle.
At Truepoint Capital, we take security very seriously and use a variety of measures to protect client personal information and accounts.
We
restrict access to private records to Truepoint Capital employees who
need the information in order to provide advisory services. We employ
extensive data protection controls to maintain physical, electronic and
procedural safeguards to protect personal information at all times. We
maintain a secure office to ensure that non-public information is not
placed at risk. Additionally, we will be implementing electronic
delivery of our quarterly investment report in the next few months,
thereby eliminating the possibility of mail fraud and the need to
maintain or shred paper documents.
While Truepoint, as well as
other institutions, can help ensure the security of non-public data,
you play a vital role in preventing and reporting unauthorized account
activity. Here are some important steps that you must take:
- Frequently
check your account and actively monitor your transaction history
including promptly reviewing correspondence, notices and account
statements, or confirmations from us or your custodian.
- Use a
cross-cut type, paper shredder to shred all personal documents before
throwing them away, including the pre-approved junk mail you receive.
Where available, register for electronic notification of statement
delivery, thereby eliminating the physical mail.
- Take
precautions to safeguard your account information, including your PIN
and password. Select complex passwords including alpha and numeric
combinations, lower and upper case letters.
- Secure your computer with routine maintenance, including the use of anti-virus software and personal firewalls.
- Never
respond to “phishing.” Neither your custodian nor Truepoint will
contact you via email requesting your social security number or
birthdate. If you ever have a question about the authenticity of an
inquiry, please contact us directly.
Protect yourself
from identity theft by safely managing your personal information. We
welcome the opportunity to share more of Truepoint Capital's commitment
to privacy and information security to individual inquiries. To
schedule a complimentary initial consultation, please contact Lisa
Reynolds at (513) 792-6648 or l.reynolds@truepointcapital.com.
Truepoint Capital is an independent wealth management and
multi-family office firm based in Cincinnati. Our specialists provide
integrated broad-based services to high net worth individuals and
families across the country.
