By Jared Johnson, Shareholder & Wealth Manager

At Echo Wealth Management, your security is our priority. As cybersecurity threats evolve in sophistication and reach, we want to ensure our clients are not only aware of potential risks but also equipped with trusted resources and clear steps for protection. In collaboration with Schwab, we offer this guide to help you stay informed, vigilant, and prepared.

Schwab Cybersecurity Resources: What You Need to Know
Schwab offers robust systems and guidance to safeguard your accounts and data. Their dedicated client resources include:

• Fraud Prevention Center: Schwab’s online hub includes advice on recognizing scams, fraud alerts, and what to do if you think your account has been compromised.
• Security Guarantee: Schwab covers 100% of any losses in your Schwab accounts due to unauthorized activity, if you've complied with account security requirements.
• Two-Factor Authentication: This added layer of protection helps prevent unauthorized access.
• Client Support: If you suspect any fraudulent activity, Schwab encourages immediate contact via your service team.

Multi-Factor Authentication: A Critical Layer of Security

One of the most effective tools to safeguard your online accounts is multi-factor authentication (MFA). We urge all clients to ensure MFA is enabled on any account that supports it, including:

• Financial institutions (Schwab, banking apps, credit cards)
• Email providers
• Social media platforms
• Online retailers and marketplaces

MFA provides an extra step—such as a one-time code sent to your phone or generated by an authenticator app—that verifies your identity beyond just a password. This significantly reduces the risk of unauthorized access even if your login credentials are compromised.

Tip: Avoid SMS-based MFA where possible. Use authenticator apps like Google Authenticator, Authy, or built-in tools from Apple or Microsoft for added security.

How to Freeze Your Credit in 3 Easy Steps

Freezing your credit prevents unauthorized access to your credit file, reducing the risk of new fraudulent accounts being opened in your name. Here's how to do it:

1. Contact Each of the Three Major Credit Bureaus:
   • Equifax: equifax.com or 1-800-349-9960
   • Experian: experian.com or 1‑888‑397‑3742
   • TransUnion: transunion.com or 1‑888‑909‑8872
2. Provide Required Information: Be ready to verify your identity with your Social Security number, date of birth, and proof of address.
3. Keep Your PIN or Password Safe: You will need this if you choose to lift or remove the freeze in the future.

Freezing your credit is free and does not affect your credit score. Consider doing this for your children as well.

If You Suspect Compromise: Act Immediately

If you believe your personal information may have been compromised, follow these critical steps:

1. Notify Schwab and Echo Wealth Management Immediately: We’ll work with you to assess the situation and protect your accounts.
2. Change All Passwords: Focus especially on financial and email accounts. Use strong, unique passwords and enable two-factor authentication.
3. Check Your Credit Reports: Visit annualcreditreport.com to request your free credit reports from all three bureaus and monitor for unauthorized activity.
4. Report the Incident: File a report with:
   • FTC: identitytheft.gov
   • Your local police department
   • The company or institution where the fraud occurred
5. Consider a Fraud Alert: This notifies creditors to take extra steps in verifying your identity before extending credit.

Common Scams to Watch Out For
Based on Schwab’s latest guidance, here are prevalent scams and what you can do to avoid them:

• Romance and Sweetheart Scams: Be wary of online relationships with individuals you've never met. Never send money to someone you haven't met in person.
• Government Impersonation: The IRS or SSA will never call demanding immediate payment or ask for personal info via phone.
• Tech Support Scams: Never give remote access to your computer to unsolicited callers.
• Business Email Compromise: Always verify fund transfer requests by phone using known numbers.
• Real Estate Wire Fraud: Double-check wiring instructions with your title company via known contacts before sending funds.

If something feels off, stop and consult your EWM advisor or Schwab service team.

Let’s Work Together to Stay Secure
Cybersecurity is a shared responsibility. By staying informed and taking proactive steps, you can significantly reduce your exposure to online threats.

Please don’t hesitate to contact your EWM advisor if you have questions or concerns about your cybersecurity strategy. Together with Schwab’s resources and our personalized support, we’ll help ensure your assets and information stay protected.

Echo Wealth Management
Secure Today. Ready for Tomorrow.