The digital tools we rely on every day have made managing our finances more convenient, but they have also introduced new cybersecurity risks. Cybercriminals are using increasingly sophisticated tactics to steal personal details, access financial accounts, and impersonate people and organizations you trust.
At Oppenheimer, safeguarding the information and assets you entrust to us is a top priority. We maintain a comprehensive, multi-layered cybersecurity program that incorporates recognized industry standards, continuous monitoring, vulnerability assessments, rigorous testing, employee education, and fraud-prevention measures. We regularly evaluate and enhance these practices to address emerging risks and help keep our systems and client information secure.
While these protections are an important part of our commitment, your awareness and vigilance provide another essential layer of security. Developing good cybersecurity habits and knowing what to look for can help reduce your exposure to fraud and protect your financial well-being.
Recognizing Financial Fraud:
Some scams are designed specifically to interfere with financial transactions or gain access to investment and banking accounts. Criminals may impersonate a financial professional, a family member, or a business contact to make a request appear legitimate.
Be particularly aware of the following scenarios:
- Fraudulent transfer requests: Messages or calls requesting wire transfers, changes to payment instructions, or urgent movement of funds. Cyber criminals may pose as someone you know or trust to encourage you to act quickly.
- Impersonation scams: Individuals posing as financial professionals, representatives of financial institutions, or other trusted contacts to obtain account details or authorize transactions.
- Account access attempts: Requests for login credentials, verification codes, or other information that could allow someone to access your financial accounts.
- False account communications: Emails, texts, or phone calls claiming there is an issue with an account or transaction and directing you to provide information or take immediate action.
Even when a message appears familiar or legitimate, take time to confirm its source before sharing information or authorizing financial activity. The following practices can help you recognize suspicious activity and make informed decisions when handling financial requests.
Verify Requests Involving Money or Account Changes:
Before acting on instructions involving wire transfers, payments, or changes to account information, independently confirm the request. Use a phone number or contact method you already have on file rather than relying on details provided in an unexpected message. If a request seems unusual or urgent, take the time to verify it before proceeding.
Be Careful with Personal and Account Information:
Never share passwords, authentication codes, Social Security numbers, or other confidential details in response to unsolicited communications. Be cautious of anyone asking you to provide account access or disclose information to complete a transaction. Oppenheimer will not ask you to share your password or authentication codes in response to an unsolicited request.
Review Account Activity Regularly:
Review account statements, balances, and transaction histories for unfamiliar activity. Account alerts can also help you stay informed about certain transactions or changes. If something does not look right, report it promptly so the appropriate steps can be taken.
Contact Your Oppenheimer Financial Professional:
If you receive a communication about your Oppenheimer account or financial activity that seems unexpected, do not respond until you have confirmed its legitimacy. Contact your Oppenheimer Financial Professional using a trusted method to discuss any concerns.
A Continued Commitment to Protecting Your Wealth:
Protecting your financial information and assets requires ongoing attention. By taking care to verify financial requests, monitor account activity, and recognize potential warning signs, you can help reduce your exposure to fraud.
If you have questions about a communication or request involving your Oppenheimer accounts, reach out to your Financial Professional. We remain committed to helping safeguard the information and assets you entrust to us.
DISCLOSURE
Oppenheimer & Co. Inc. does not provide legal or tax advice but will work with your other financial professionals to address your needs. This material is derived from sources believed to be reliable and can change without notice or with IRS code changes. Oppenheimer & Co. Inc. Transacts Business on all Principal US Exchanges and is a Member of SIPC 9237522.1