Equifax Security Breach and Protecting Your Investments

 

By Joshua Gottfried
September 2017

 

In September, Equifax, one of three credit monitoring bureaus, reported a massive data breach that affected more than 143 million Americans. This was the second breach this year.  It seems this is a problem affecting companies more and more.

A few years ago, we received an email message asking for money from one of our clients. It seemed out of character, and, after calling the client, we realized that their email had been hacked. Over the years, this has happened a number of times. One of the benefits of doing business with GSWM is our ability to personally verify each of our clients when we interact with you. When requesting funds to be distributed from your accounts, even if the email was sent from the email that we have on file, it is our process to call you and verify that you requested the transfer.

In addition, over the past three years, we have linked your accounts with us to your bank account so that the distribution goes directly into your bank as a further safeguard.

Though we cannot protect against everything, our process includes two additional checks to help safeguard your monies.