Scams are becoming harder to spot.
Artificial intelligence can now help criminals create convincing emails, realistic-looking websites, and even fake voices that sound like someone you know. That makes it more important than ever to pause before responding to an unexpected message.
Fortunately, you do not need to be a technology expert to protect yourself. A few simple habits can make a big difference.
Phishing is when a scammer pretends to be a person or organization you trust in order to steal money, passwords, account information, or other personal information.
A phishing attempt may appear to come from your bank, financial advisor, Social Security, Medicare, a delivery company, a familiar business, or even a family member.
Be especially careful when a message creates urgency.
Common examples include:
Scammers want you to react quickly. Take time to confirm what is happening before you respond.
A familiar name or logo does not guarantee that a message is legitimate.
Look carefully at the full email address. Scammers often use addresses that are only slightly different from the real one.
For example, a fake address may add an extra word, letter, number, or dash.
If you receive a message about an account problem, payment, password, or financial issue, avoid using the link in the message.
Instead, open your browser and visit the company's website yourself, or call the organization using a phone number you already know.
Legitimate organizations should not unexpectedly ask you to provide a password or read a one-time verification code over the phone.
If someone asks for this information, end the conversation and contact the organization directly.
One of the biggest warning signs of fraud is an unexpected request to transfer money.
Be cautious if someone asks you to:
Before moving money, independently verify the request with your financial institution or advisor.
AI has made phone scams more convincing because criminals can imitate a person's voice.
You may receive a call that sounds like a child, grandchild, spouse, or friend claiming to be in an emergency.
If this happens, hang up and call that person directly using the phone number already saved in your contacts.
A familiar voice alone is no longer enough to confirm someone's identity.
When you receive an unexpected email, text, or phone call involving money, personal information, or urgency, pause before taking action.
Ask yourself:
Was I expecting this?
Can I verify it another way?
Am I being pressured to act quickly?
Taking an extra minute to check can prevent a costly mistake.
If you ever receive a communication that appears to be from Wela Financial Advisory and something does not look right, do not hesitate to contact us directly at 210-530-9599
We are always happy to help you confirm whether a communication is legitimate.
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Brent Forrest & Associates, LLC. dba Wela Financial Advisory (Wela) is a registered investment adviser. The information presented is for educational purposes only. It should not be considered specific investment advice, does not take into consideration your specific situation, and does not intend to make an offer or solicitation for the sale or purchase of any securities or investment strategies. Investments involve risk and are not guaranteed. Be sure to consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. This article and images may have been enhanced by utilizing artificial intelligence (AI). Wela may discuss and display, charts, graphs, formulas which are not intended to be used by themselves to determine which securities to buy or sell, or when to buy or sell them. Such charts and graphs offer limited information and should not be used on their own to make investment decisions.
