“My computer got hacked and they got into my bank account. I’m calling to let you know.”
That was a call from one of my clients. The hackers took $4,000 from her checking account and had opened several new accounts in her name. She realized something was wrong when strange emails began appearing in her inbox. Acting quickly, she called each vendor to report the fraudulent accounts and have them closed.
We publish at least one cybersecurity blog each quarter, highlighting common scams and ways to protect yourself. In this post, I’m sharing one client’s experience and the steps you can take to protect your accounts from hackers.
Is Your Home Router Leaving You Exposed?
Your internet router is the gateway to everything you do online at home. If a hacker gains access, they can intercept data from connected devices or even take control of them. Strengthening router security is one of the simplest ways to protect your accounts from hackers and safeguard your personal information.
Here are a few steps to increase the security of your router:
- Change default login information – Change the router’s default admin username and password. Default logins are one of the easiest ways for hackers to get in.
- Update the router’s software (firmware) – Regularly check for and install updates on your router. These updates fix security weaknesses.
- Rename your Wi‑Fi network (SSID) – Change the network name to something that does not reveal personal information or the router brand or model.
- Use strong Wi‑Fi security (encryption) – Use WPA2 or WPA3 security for your Wi‑Fi network, and avoid older WEP security. Make sure a strong option is turned on.
Don’t Skip Antivirus Protection
The primary purpose of antivirus software is to protect your computer and other devices from harmful programs such as viruses, ransomware, and spyware. It works in the background by detecting, blocking, and removing threats, and by scanning files to help prevent data loss, system damage, and unauthorized access.
My client did not have antivirus software installed on her laptop. While many new computers come with some security tools, it is important to make sure you have antivirus protection in place. This is usually an additional purchase or subscription, and it needs to be kept up to date to stay effective.
Better Password Habits, Safer Accounts
My client had passwords scattered in different places on her computer. Like many of us, she was a creature of habit and used the same password for multiple websites. Once the hackers figured out some of her passwords, they were able to get into several of her accounts.
Do not store your passwords on your computer. Instead, keep them offline, such as a written list stored in a safe place, or consider using a password manager. A password manager stores passwords in one secure place and helps you create strong, unique passwords for each website. There are many password managers available today; when choosing one, look for: ease of use, the level of security provided, the cost, compatibility across devices, and whether you can securely share access with your family.
Many banks and financial institutions also use multi‑factor authentication, often sending a code by text to your phone after you log in with your password. This extra step adds another layer of protection and helps protect your accounts from hackers.
After this experience my client chose to purchase a YubiKey, a hardware authentication device that replaces password‑only logins or SMS codes with secure, physical, touch‑based verification.
How it works:
- Registration – You link the YubiKey to your online accounts in security settings.
- Authentication – When logging in, the service sends a challenge to the browser.
- Physical touch – You touch the YubiKey to prove you are physically present, triggering it to sign the challenge with a private key stored on the device.
The Cost of Cleaning Up a Hack
When the hack was discovered, my client spent a great deal of time and energy correcting the problem. She opened new bank accounts, updated her direct deposits and automatic payments, and contacted every vendor where fraudulent accounts had been opened. She sent certified letters requesting that those accounts be closed and kept copies in a binder in case any charges or bills appeared later.
She contacted the Boise Police, the FBI, and the FTC, as well as all three credit bureaus. Her credit file and accounts were tagged as hacked, and that status will remain in place for one year.
Our office contacted the investment company where she holds her accounts, and her accounts were flagged so employees must use extra caution when servicing them. Any distribution instructions now require a signature guarantee, and all activity must go directly through an employee at the fund company. We plan to keep these extra protections in place for at least a year.
Protect Your Accounts Before It’s Too Late
While reading this, did you have an “aha” moment? Or find yourself thinking, “I should do that”?
Now is the time to tighten your security before something happens. Be sure you take steps now to protect your accounts from hackers – they go where access is easier, so make it hard for them.
If you are concerned about your online security or not sure where to start, call Boise Retirement Coach and let us review your protections with you. If you are already a client, make a note to bring this up at your next review meeting so we can walk through your accounts and security steps together. An ounce of protection is worth a pound of cure.
Connect with Boise Retirement Coach
Curious about making informed decisions in your financial or retirement planning with confidence?
Subscribe to our email community for helpful updates, practical tips, and new blog posts – delivered straight to your inbox.
Want to learn more about how we guide families in the beautiful Treasure Valley toward lasting financial security?
Read about us to see how we can help you prepare for retirement, plan your legacy, and develop thoughtful investment strategies.
Ready for the next step in your retirement journey or have questions you’d like answered directly?
Call us at (208) 343-7777 – whether you’re exploring your financial future, seeking a personalized plan, or would like to schedule a complimentary consultation, we’re ready to help right away.
Disclaimer
Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Boise Retirement Coach and Cambridge are not affiliated.
