By Amy Betts, Chief Compliance Officer
As summer approaches, many clients are traveling, spending more time online, and making financial decisions in less controlled environments. Unfortunately, this is also a time when fraud attempts and cybersecurity risks increase.
At BEAM, protecting your information and accounts is a top priority. Whether you’re heading overseas, visiting family, or enjoying a well-earned vacation, a little financial preparation may help you travel with greater confidence and peace of mind. Below are important reminders to help safeguard your financial well-being this summer.
Staying Safe from Fraud While Traveling
We continue to see an increase in fraudulent emails, texts, and phone calls designed to appear legitimate; often mimicking financial institutions, advisors, or service providers.
What to watch for:
- Messages that create urgency or pressure you to act quickly
- Links prompting you to log into financial or personal accounts
- Communications that appear familiar but contain subtle inconsistencies
Best practice: Always verify requests independently using known contact information (i.e., phone number on back of your credit card, your saved financial institution website) before taking any action or sharing sensitive information. If you’re looking for a second opinion, we’re happy to verify any suspicious communications that appear to reference your accounts or otherwise.
Take Extra Precautions While Traveling
Travel can introduce additional risks, particularly when accessing accounts from unfamiliar devices or networks.
We recommend:
- Limiting financial transactions on public or unsecured Wi-Fi
- Enabling multi-factor authentication on all financial accounts
- Keeping devices updated with the latest security patches
A few proactive steps can significantly reduce exposure while you are away from your normal routine.
Protecting Your Devices & Accounts
Cybersecurity risks often stem from compromised devices or outdated credentials.
To help protect yourself:
- Regularly scan devices for malware or unauthorized software
- Update passwords and avoid reusing credentials across accounts
- Remove applications or programs you do not recognize or no longer use
Maintaining strong digital hygiene is one of the most effective ways to safeguard your financial information.
Watch for Unusual Account Activity
Fraud and financial exploitation can often be identified through changes in behavior or unexpected account requests.
Examples may include:
- Requests to transfer or withdraw funds outside of normal patterns
- New third parties seeking access or involvement in your accounts
- Sudden or unexplained changes in investment activity
If something appears inconsistent with your expectations, we encourage you to pause and confirm before proceeding.
Consider Adding a Trusted Contact
Establishing a trusted contact provides an added layer of protection for your accounts.
A trusted contact:
- Serves as a point of contact if we are unable to reach you
- May be contacted if there are questions about unusual activity
- Does not have authority to transact or make changes to your accounts
This is a simple but effective safeguard that can assist in protecting your financial well-being.
When to Contact Us
Please reach out if:
- You receive a communication that appears suspicious
- You anticipate account activity while traveling internationally
- You notice anything unusual or unexpected related to your accounts
Before You Leave: A Quick Security Checklist
Before traveling, take a few moments to review these simple steps to help protect your accounts and personal information:
- Enable multi-factor authentication on financial and email accounts
- Update passwords for key financial, banking, and investment accounts
- Notify your financial institutions if you expect international travel or unusual account activity
- Save important contact information offline, including advisor, custodian, and financial institution phone numbers
- Ensure your devices are updated with the latest security and software patches
After You Return
When you return home, take a few moments to confirm that everything remains secure:
- Review recent account activity and confirm all transactions are accurate
- Check for any unfamiliar logins, alerts, or password-reset notifications
- Verify that your financial accounts and email accounts are functioning normally
- Report any suspicious activity or unauthorized transactions promptly
While risks continue to evolve, a few simple precautions can go a long way toward helping protect your accounts and personal information.
If you’re traveling and notice unusual account activity or receive a communication that seems suspicious, please don’t hesitate to reach out. One of the benefits of working with our team is having a trusted resource to contact when something doesn’t seem right. We’re always happy to answer questions and provide guidance when something feels out of the ordinary.
By Amy Betts, Chief Compliance Officer
