In the context of the recent cyberattack on Optus, this mission has never been more important to our team at Wealth Architects.

Up to 9.8 million Australian residents could have had their data stolen as a result of the breach, with 2.8 million people severely impacted, according to Optus. The exposed records revealed 14,900 valid Medicare numbers and 10,000 users with highly sensitive personal information like passport numbers.

And when we consider the broader statistics in this space, it is a reality that businesses and individuals alike ensure we incorporate strong cybersecurity habits into our daily routines and processes.

This is particularly true for financial organisations – such as Wealth Architects – and for people who engage with them.

According to Verizon, 10 per cent of all cyber-attacks are financial in nature, whilst Accenture reports that in 2018, the financial services industry incurred the most cybercrime expenses with $18.3 million.

At Wealth Architects, we ensure that all of our systems and users are using Two-Factor Authentication to help ensure our systems cannot be accessed by would-be hackers, as well as only dealing with the most secure and trusted institutions, who themselves have very stringent security.

So, what can you do to protect yourself from the cybercrime threat better?

With the rise in cyber attacks, it’s more important than ever to take steps to protect your wealth. Here are three practical tips to help you safeguard your finances against hackers and cybercriminals.

1. Use a Secure Password Manager

One of the best ways to protect your online accounts is to use a secure password manager. This will help you create strong, unique passwords for your different accounts and keep them all stored in one safe place. Many password managers also have additional features like two-factor authentication and fraud monitoring, which can further bolster your security.

2. Be Wary of Phishing Scams

Phishing scams are a common type of cyber attack where criminals pose as a legitimate company or individual to trick you into giving them sensitive information. Be on the lookout for red flags like unexpected requests for personal information or unforeseen attachments in emails. If something looks suspicious, don’t hesitate to contact the supposed sender directly to verify their identity before responding.

3. Keep Your Software Up-to-Date

One of the simplest things you can do to prevent hackers from gaining access to your devices is to ensure that your software is always up-to-date. This includes your operating system, web browser, plugins, and any other applications you have installed on your computer. Hackers are constantly finding new ways to exploit vulnerabilities in software, so it’s important to install updates as soon as they become available to patch any holes that could be used.

By following these three simple tips, you can help protect yourself from becoming a victim of a cyber attack.

If you were implicated in the Optus breach, you should head HERE for the latest from Optus.

Remember to use a secure password manager, be wary of phishing scams, and keep your software up-to-date.

These precautions will go a long way in safeguarding your finances against hackers and cybercriminals.

And remember, when dealing with Wealth Architects, we will never ask you to send personal information via email or text!

If you’re looking for a financial adviser who thinks about the whole picture – including cybersecurity – why not reach out and have a chat with us today?

We take your security and your financial future incredibly seriously.

Contact us to find out more about how we can help you achieve your financial goals.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.