by David Quisenberry, GCIH, CSSLP
Chief Technology Officer
Chief Information Security Officer
We participate in information sharing and threat awareness through membership in the FS-ISAC, a 25-year-old nonprofit with 5,000 financial sector members. This membership includes daily threat bulletins, participation in working groups around key areas such as AI security and fraud, and two main conferences annually for best practices and learning. The information and techniques discussed are protected under a non-disclosure agreement and provide immense value for an organization our size.
We partner with Schwab to conduct NIST Cyber Security Framework audits, engage in peer cyber security round table discussions and brought the head of Schwab’s Fraud Response team to our offices for an in-person training for our portfolio managers and client relationship associates on current fraud and scam techniques.
Here are a few scams to be mindful of:
Romance Scams: Fraudsters engage in fake romantic relationships to build emotional trust; these scams rely on emotional manipulation and fabricated identities. The scammer invents emergencies or opportunities that require money, gift cards or account access.
Relationship Scams: Scammers pose as friends, mentors, business contacts, service providers, or charitable helpers to establish a sense of familiarity or authority. After gaining trust, they ask for money, personal information or access to financial accounts. These schemes exploit social trust, not romance.
Fake Fraud Calls: Criminals impersonate banks, government agencies or fraud departments. They claim there’s suspicious activity on the victim’s account and pressure them to “verify” personal details or move money to a “safe account.” The attackers leverage a sense of urgency and cognitive dissonance driven
by fear.
We also conduct regular periodic tests of our defenses. These include both configuration reviews as well as adversarial simulations. Professional hackers test the way we handle client information, verify identities and expose ourselves through our web presence to make sure we are doing so securely.This matters because you entrust us with more than just the investment of your capital. The safety of your information and the resilience of our ability to serve you is paramount.
As threats evolve and bad actors keep attacking, know we are doing our best to keep you safe.