Tips for Preventing Fraud

Tips for preventing fraud

Cybercrime and fraud are serious threats and constant vigilance is key. While Versant Capital Management plays an important role in helping protect your assets, you can also take action to protect yourself and help secure your information. This checklist summarizes common cyber fraud tactics, along with tips and best practices. Many suggestions may be things you’re doing now, while others may be new. We also cover actions to take if you suspect that your personal information has been compromised. If you have questions, we’re here to help.

Cyber criminals exploit our increasing reliance on technology. Methods used to compromise a victim’s identity or login credentials – such as malware, phishing, and social engineering – are increasingly sophisticated and difficult to spot. A fraudster’s goal is to obtain information to access to your account and assets or sell your information for this purpose. Fortunately, criminals often take the path of least resistance. Following best practices and applying caution when sharing information or executing transactions makes a big difference.

How we can work together to protect your information and assets

Safe practices for communicating with Versant Capital Management

  • Keep us informed regarding changes to your personal information.
  • Expect us to call you to confirm email requests to move money, trade, or change account information.
  • Establish a verbal password with our firm to confirm your identity, or request a video chat.


What you can do

  • Be aware of suspicious phone calls, emails, and texts asking you to send money or disclose personal information. If a service rep calls you, hang up and call back using a known phone number.
  • Be cautious when sharing sensitive information or conducting business via email, as accounts are often compromised.
  • Beware of phishing and malicious links. Urgent-sounding, legitimate-looking emails are intended to tempt you to accidentally disclose personal information or install malware.
  • Don’t open links or attachments from unknown sources. Enter the web address in your browser.
  • Check your email and account statements regularly for suspicious activity.
  • Never enter confidential information in public areas. Assume someone is always watching.


Exercise caution when moving money

Leverage our electronic authorization tool to verify requests. Featuring built-in safeguards, this is the fastest and most secure way to move money.

  • Review and verbally confirm all disbursement request details thoroughly before providing your approval, especially when sending funds to another country. Never trust wire instructions received via email.


Adhere to strong password principles

  • Don’t use personal information as part of your login ID or password and don’t share login credentials
  • Create a unique, complex password for each website, Change it every six months. Consider using a password manager to simplify this process.


Maintain updated technology

  • Keep your web browser, operating system, antivirus, and anti-spyware updated.
  • Do not use free/found USB devices. They may be infected with malware.
  • Turn off Bluetooth when it’s not needed.
  • Dispose of old hardware safely by performing a factory reset or removing and destroying all storage data devices.


Use caution on websites and social media

  • Do not visit websites you don’t know, (e.g., advertised on pop-up ads and banners).
  • Log out completely to terminate access when exiting all websites.
  • Hover over questionable links to reveal the URL before clicking. Secure websites start with “https,” not “http.”
  • Be cautious when accepting “friend” requests on social media, liking posts, or following links.
  • Limit sharing information on social media sites. Assume fraudsters can see everything, even if you have safeguards.
  • Consider what you’re disclosing before sharing or posting your résumé.


What to do if you suspect a breach

  • Call Versant Capital Management immediately at 602-635-3760 so that we can watch for suspicious activity and collaborate with you on other steps to take.


Learn more

Visit these sites for more information and best practices:

Disclaimer: The opinions in the website articles are for general information only. Neither Versant Capital Management, Inc. (VCM) nor any of its affiliates or employees makes any warranty, express or implied, or assumes any liability or responsibility for the accuracy, completeness, regulatory compliance, or usefulness of any information, tools, resources or process described, or represents that its use would fully protect against cybersecurity incidents, including but not limited to system breaches, compromise of firm security and/or improper access to confidential information. The articles contain links to content that is available on third-party websites. Please note that VCM does not endorse these sites or the products and services you might find there.