Investing

’Tis the season to shop, travel and boost your cyber safety


The holiday season can be hectic, and with travel, family and festivities, it can be easy to let cyber safety take a back seat. However, it’s important to always keep security top of mind: Fraudsters take advantage of an increase in online shopping and traveling, and a decrease in attention, to target potential victims. According to the U.S. Federal Trade Commission, people reported losing $1.48 billion to fraud in 2018, an increase of 38% over 2017. “The top reports in 2018 were imposter scams, debt collection, and identity theft.” 1 Irrespective of where you are in the world, be on the alert for suspicious emails, calls or activity, especially if the sender requests personal or financial information or requests to remote in to your computer.

Ensuring cyber safety in the following key areas can help secure your personal information and help protect you against fraud:

  • Be wary of suspicious emails, text messages and social media posts from people or companies you don’t know. Fraudsters take advantage of the holiday season to increase their phishing attempts, so it’s important to keep in mind that messages can include malware links or lead to online surveys that collect personal information.
  • Avoid charity scams. During year-end giving, charities solicit donations from existing and potential donors. Always validate any change in payment instructions by calling the recipient on a known number, especially if the change is made at the last minute. Refer to Charity Navigator, America's largest independent charity evaluator, for guidelines to help protect against online scams, and ensure your donations are reaching the causes you wish to support.
  • Be careful before downloading apps for well-known retailers, financial firms and products. Check app logos and descriptions for misspellings, missing letters or poor grammar, and look for other red flags, such as poor reviews, newly launched apps or links to apps from other retailers.
  • Be careful with gift cards, Scammers are now using the same tactics they use to steal credit card information to steal gift card balances

  • Create strong and unique passwords across shopping and financial websites, and enable multifactor authentication wherever offered. Consider a password management tool to help manage the passwords you have across online accounts.
  • Do not click on ads, email or pop-up links, and type verified shopping and financial websites into the address bar instead of clicking on links from other sources.
  • Make purchases only from reputable, secure sites (i.e., those with an https:// URL prefix); log out of websites and close the browser window after you complete a purchase.

  • Treat transactions on payment apps as you would cash. Only send money to people you know and trust, and confirm the recipient’s username/contact information prior to completing the transaction.
  • Set up online alerts on your financial accounts, and regularly monitor your credit and debit cards and bank statements for suspicious activity.
  • Check your statements and credit reports. Remain vigilant and inquire about any suspicious activity to catch any attempt at identity theft before it escalates.
  • Watch out for “skimming” devices on credit card readers, and opt to use the chip reader instead of the magnetic stripe for in-store purchases. A telltale sign that a skimmer has been attached to an ATM is that the card reader is loose; ensure you shield the keypad when entering your PIN or ZIP code.

  • Keep your plans private. Do not post your intended travel plans, itinerary or location updates on social media prior to or during your trip. Create a social media agreement with family members to ensure they do the same, especially with children and teenagers traveling with you.
  • Use trusted travel and vacation home rental services, and only message and send funds through the site’s payment and messaging tools. Don’t fall for deals that seem too good to be true; domains are inexpensive and easy for fraudsters to procure in order to create fake travel sites that capture your information—and money.
  • Avoid using public WiFi at hotels, airports, cafés and on planes, as they are more likely to be compromised or spoofed.
  • Consider installing and using a “virtual private network” (VPN)—on all mobile devices and computers before connecting to any WiFi network. A VPN creates an encrypted connection between your smartphones and computers and the VPN server.

Remember, J.P. Morgan will never:

  • Ask you to log in to the same computer with more than one user’s credentials
  • Ask you to repeatedly submit login credentials
  • Contact you about online problems, such as logging in, if you haven’t contacted us first

For more of our insights, please visit our Cybersecurity site by clicking here.

1 Federal Trade Commission Consumer Information: “The top frauds of 2018.”

 

 

 

 

Important Information

This article is provided for educational and informational purposes only and is not intended, nor should it be relied upon, to address every aspect of the subject discussed herein. The information provided in this article is intended to help clients protect themselves from cyber fraud. It does not provide a comprehensive listing of all types of cyber fraud activities and it does not identify all types of cybersecurity best practices. You, your company or organization is responsible for determining how to best protect itself against cyber fraud activities and for selecting the cybersecurity best practices that are most appropriate to your needs. Any reproduction, retransmission, dissemination or other unauthorized use of this article or the information contained herein by any person or entity is strictly prohibited. The listed merchants are in no way affiliated with JPMorgan Chase Bank, N.A., nor are the listed merchants considered as sponsors or co-sponsors of this article. The use of any third-party trademarks or brand names is for informational purposes only and does not imply an endorsement of their products or services.


Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck

 

This website is for informational purposes only, and not an offer, recommendation or solicitation of any product, strategy service or transaction. Any views, strategies or products discussed on this site may not be appropriate or suitable for all individuals and are subject to risks. Prior to making any investment or financial decisions, an investor should seek individualized advice from a personal financial, legal, tax and other professional advisors that take into account all of the particular facts and circumstances of an investor's own situation. 

This website provides information about the brokerage and investment advisory services provided by J.P. Morgan Securities LLC (“JPMS”). When JPMS acts as a broker-dealer, a client's relationship with us and our duties to the client will be different in some important ways than a client's relationship with us and our duties to the client when we are acting as an investment advisor. A client should carefully read the agreements and disclosures received (including our Form ADV disclosure brochure, if and when applicable) in connection with our provision of services for important information about the capacity in which we will be acting.

INVESTMENT AND INSURANCE PRODUCTS ARE: • NOT FDIC INSURED • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY • NOT A DEPOSIT OR OTHER OBLIGATION OF, OR GUARANTEED BY, JPMORGAN CHASE BANK, N.A. OR ANY OF ITS AFFILIATES • SUBJECT TO INVESTMENT RISKS, INCLUDING POSSIBLE LOSS OF THE PRINCIPAL AMOUNT INVESTED
Equal Housing Opportunity logo

J.P. Morgan Chase Bank N.A., Member FDIC Not a commitment to lend. All extensions of credit are subject to credit approval 

“J.P. Morgan Securities” is a brand name for a wealth management business conducted by JPMorgan Chase & Co. (“JPMC”) and its subsidiaries worldwide. JPMorgan Chase Bank, N.A. and its affiliates (collectively “JPMCB”) offer investment products, which may include bank managed accounts and custody, as part of its trust and fiduciary services. Other investment products and services, such as brokerage and advisory accounts, are offered through J.P. Morgan Securities LLC (“JPMS”), a member of FINRA and SIPC. Annuities are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. JPMCB, JPMS and CIA are affiliated companies under the common control of JPMorgan Chase & Co. Products not available in all states.

Please read additional Important Information in conjunction with these pages.