Protecting Yourself in a Digital World

In today’s world, cybersecurity is no longer just a technology issue, it’s a personal financial concern. Every day, individuals are targeted by increasingly sophisticated fraud schemes designed to capture sensitive information and exploit vulnerabilities. As investors, being aware of these risks and taking proactive steps is one of the most important ways to protect your financial well-being.

One of the most common areas for fraud is Medicare. Scammers regularly pose as government representatives, often through phone calls or emails, claiming they need to “verify” information or offer additional benefits. In reality, their goal is to obtain your Medicare ID or Social Security number, which can be used for identity theft. It is important to remember that Medicare will never call you unexpectedly to request personal details. If you receive such a call, it’s best to hang up and contact Medicare directly using the number on your card.

Credit cards remain another prime target. Criminals can steal numbers in a data breach, through phishing attempts, or even by installing skimming devices on legitimate machines. Once they have access, unauthorized charges can accumulate quickly. Reviewing your statements regularly and setting up alerts for unusual activity are simple but powerful ways to minimize damage.

Even outside of direct fraud attempts, our daily online activity leaves behind a digital footprint. Every purchase, login, or interaction creates a trail of information that, if pieced together, can provide cybercriminals with what they need to impersonate you. Protecting your digital footprint starts with strong habits: using unique passwords for each account, enabling multi-factor authentication wherever possible, and staying cautious about what you share online.

Another growing area of concern is check fraud, which has been on the rise nationwide. Schwab recommends several best practices to reduce risk, including avoiding mailing checks whenever possible and instead using ACH, wires, or bill-pay services for payments. If you do write checks, review copies online through your bank, follow up with payees to confirm receipt, and use pens with indelible black ink so amounts cannot be altered. Just as importantly, never leave blank spaces in the payee or amount lines, as these gaps can easily be exploited by fraudsters.

Beyond personal vigilance, the way you move money within your investment accounts also matters. Schwab emphasizes that authorization methods carry different levels of risk. Traditional paper documents and “wet” signatures are the least secure, as they can be lost, intercepted, or forged, and they significantly slow down the process. Digital tools like DocuSign improve efficiency but are still vulnerable if not handled carefully. The most secure option, according to Schwab, is using digital money-movement platforms that keep clients directly involved from start to finish. Not only do these methods provide stronger safeguards against fraud but they also allow for faster, smoother transactions.

The bottom line is that cybersecurity is an integral part of financial planning. Protecting your wealth isn’t only about making wise investment decisions, it’s about keeping your personal and financial information safe. By staying vigilant against Medicare and credit card scams, watching for check fraud, being mindful of your digital footprint, and using the most secure channels for account activity, you can greatly reduce your risk.

At Apella, we take cybersecurity seriously and have implemented several measures to help protect our clients. Instead of email attachments, we provide a secure document upload tool for sharing files that may contain sensitive information. For all money-movement requests, our advisory team completes verbal confirmation to ensure accuracy and safeguard against fraud. We also prioritize the use of DocuSign and other digital paperwork services, which include multi-factor authentication to verify your identity. Together, these steps create an added layer of security and peace of mind as you manage your financial life with us.

Sources:

Avoiding cybersecurity and fraud risks in a digital world.

John Padzik Advisor Services Fraud Prevention Charles Schwab & Co., Inc.

Page Adlington Technology Consulting Charles Schwab & Co., Inc.

Disclosure:

Apella Capital, LLC (“Apella”), DBA Apella Wealth is an investment advisory firm registered with the Securities and Exchange Commission. The firm only transacts business in states where it is properly registered or excluded or exempt from registration requirements. Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission. Apella Wealth provides this communication as a matter of general information. Any data or statistics quoted are from sources believed to be reliable but cannot be guaranteed or warranted.