Straight Talk from Al Jacobs

 

BE CAREFUL WITH WHOM YOU DEAL

 

An email from Bank of America arrived on my computer today … at least it said it was from the Bank of America. As for an addressee, it simply indicated “Recipients.” The subject: “Important notification.” The topic appeared to be one of urgency for the first two words in large font were “Security Alert.”

 

The several short paragraphs were clear and to the point: “Dear Customer: As part of our efforts to create a safe environment for Bank of America customers, we regularly carry out a number of security requirements ….During our recent security checks, we were unable to verify your information on your account … In order to protect the information of our customers, your system has temporarily placed restrictions on your account … you can validate your information by following the link below.” Immediately below was the link: “Activate my Account”

 

Three things did not ring true: A vague addressee, the lack of any way to verify the sender and the threat of restrictions being applied to my account. For these reasons I took the following actions: (1) I did not activate the link (2) I made a print of the email (3) I took the printed email to my BOA branch office to verify its authenticity.

 

A BOA supervisor confirmed my suspicions: The source was not BOA; my account was in no way compromised, though the activation link might have caused serious problems if I had clicked onto it.

 

For those of you not particularly aware of the nastiness going on, there are now more computer hackers breaking into computer systems in order to steal, change or destroy information, often by installing dangerous malware without our knowledge or consent. Although modern technology is a magnificent boon in a variety of ways, the downsize risks are formidable. The good news is there are simple steps you can take to greatly reduce the chances of these bad things happening to you. Briefly, you’ll be wise to keep all your applications and your operating system patched and updated, put a PIN, passcode or pattern lock on your phone, don't install 'off-road' Android apps, don't jailbreak your iPhone or iPad, install antivirus software everywhere you can, remove apps you don't use and use limited-user accounts.  But above all, have nothing to do with anyone soliciting you by email, phone or fax. They mean you no good.

 

 

Al Jacobs, a professional investor for nearly a half-

century, issues weekly financial articles in which he

shares his financial knowledge and experience.

You may view them on http://www.roadwaytoprosperity.com