Fraud Risks Rise with Market Volatility—Here's How to Stay Safe
Periods of market volatility often bring an uptick in fraudulent activity, as bad actors attempt to exploit uncertainty. Your security is our top priority—and now is an important time to stay especially vigilant.
If you receive an email from a Compass team member requesting any action or providing instructions—and we have not recently discussed it with you—please call our office at 678-619-2364 before taking any steps.
What is Email Spoofing?
One of the most common tactics we’re seeing is email spoofing. These are fraudulent email messages that appear to come from a trusted source but are, in fact, cleverly disguised attempts to gain access to your personal or financial information.
· These emails may look legitimate, but they are not.
· If you ever receive a communication that seems unusual or unexpected, we strongly encourage you to confirm its authenticity with us by phone.
· It's a good practice to review the email address. Fraudsters often impersonate names to make their messages appear legitimate, but the actual email address is different.
Money Movement Requests
· While we maintain strict internal protocols to verbally confirm all such activity, we ask that you call us before initiating any transaction by email.
· This added layer of caution significantly reduces the risk of unauthorized activity.
We also encourage you to remain on heightened alert within your own Schwab accounts, as we have seen an increase in attempted fraud across the broader industry. For additional guidance, please review our video on Simple and Effective Tips to Protect Your Accounts from Fraud.
Have questions or want to speak with our team directly? Contact us.
Robert Amato, CFP®, CIMA®
Principal
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Compass Wealth Management is a Registered Investment Advisor. Advisory services are only offered to clients or prospective clients where Compass Wealth Management and its representatives are properly licensed or exempt from licensure. This article is solely for informational purposes and is not intended to be relied on as a forecast, research, or investment advice, and is not a recommendation, offer, or solicitation to buy or sell any securities or to adopt any investment strategy. The opinions expressed may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and nonproprietary sources deemed by Compass Wealth Management to be reliable, are not necessarily all-inclusive, and are not guaranteed as to accuracy. Past performance is no guarantee of future results. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this material is at the sole discretion of the reader. Investments involve risks.