Cyber Security

Cybersecurity, particularly security pertaining to our financial matters, continues to be top of mind. As a result of a recent inquiry, we have summarized some of the ways that both Schwab and Sanctuary work to protect our client’s accounts. We also learned that there are additional protections that Schwab does not share so they can keep them “under the radar.” In this age of artificial intelligence, it is good to know we have partners using their actual intelligence to evaluate and protect against ongoing threats. Here's how some of that protection is layered – particularly as it applies to opening new accounts or transferring funds: Authority over your accounts is deliberately limited. PrairieFire acts under a Limited Power of Attorney, which grants them trading and fee-debit authority only. It does not grant them authority to move assets to an account that isn't the clients. Any distribution to a third party [...]

In today’s digital landscape, phishing attacks have become a pervasive cybersecurity threat that can compromise both your financial well-being and personal identity. Outlined below are several tips that can be of great value to your family and friends: 5 Tips to Help You Recognize a Potential Phishing Attempt: Unusual Requests for Personal Information: If you receive an email from a bank asking you to click on a link and verify your account details, exercise caution. When in doubt, contact the company directly using the contact information provided on its official website. Generic Greetings: Be wary of emails that begin with generic salutations, such as “Dear valued member” or “Dear customer,” and request you to take immediate action or provide personal information. These could be phishing attempts. Fake Email Addresses: Pay attention to slight alterations in the company email address, such as “[email protected]” instead of “[email protected].” Some phishing emails may use a seemingly [...]

When there is a spike in global conflicts or disasters, there is also a spike in charitable giving. Charitably minded families want to help the innocent and unsuspecting people who are affected by these crises by giving to charities that pledge to aid these affected areas. However, the IRS warns taxpayers that scammers are taking advantage of these world issues by creating fake charities to make a quick buck. Scammers will use fake phone numbers or charity names that are very similar to the legitimate ones, luring people in who don’t know the difference. Thankfully, the IRS has an online tool called the Tax-Exempt Organization Search (TEOS) on their website which verifies the authenticity of the charity you wish to donate to. IRS TEOS TOOL. It also allows you to check the charity’s eligibility to receive tax-deductible charitable contributions. It is important to note that if you are someone who donated [...]