Electronic Fraud | Moneta

Blog

We are concerned with the increase in online fraud and are alerting you to two different ways you may be at risk.

Phishing: This is an email that appears to come from a reliable source — often Schwab, Fidelity or your bank. The criminal’s goal is to lure you into clicking on links in the message that either install “spyware” so fraudsters can count keystrokes to capture your passwords or trick you into entering actual account numbers and passwords. Do not click on any of the links in these messages; delete them immediately. Many of these emails look legitimate, but careful examination and close reading often show misspellings and conflicting information. Reputable companies would never email asking you for personal account information.

Email Hacking: The second type of fraud, email hacking, occurs when online crime fraudsters illegally gain access to client emails and, using your email account, contact Moneta requesting a wire fund transfer to a third party. The email to Moneta Group looks as if you are requesting the wired funds, when in fact the hacker is requesting the wired funds and sending the money to an account at a bank over which they have control. These emails sometimes arrive at Moneta Group with an authorization attached to the email bearing your signature. So if we or the custodian of your assets (Schwab, Fidelity or other custodian) call you to verify your legitimate fund transfer requests, it is for your  protection. Moneta is vigilant about protecting you from online fraud, but hackers are clever and not easily deterred. Please beware of online fraud and consider some simple ways to protect yourself. 

  • Never email social security numbers, account numbers or any other personal information unless using a secure portal, like Moneta Group’s secure email system.
  • Create passwords that are difficult to crack. For more information on how to do this, see an article on this topic in this message and on our website, www.monetagroup.com.