Retiree News

Consider the worst has happened to you. An intruder has accessed your most sensitive financial accounts, putting your online security at risk and possessing the keys to everything you’ve worked for over time. Who could be capable of such a crime?

You might imagine a shady hacker somewhere in a college apartment, using advanced equipment to bypass firewalls and other security measures your institutions may have in place.

But often, it’s someone much closer with easy access to personal information.

For those concerned about falling victim to identity theft and fraud, the most important step you can take is to secure your online accounts immediately to ensure only you have access.

VRS has layers of security in place to help detect if someone other than you is accessing your account. Yet, if the intruder already knows your most sensitive personal information it can be difficult to determine bad actors with certainty. Think about who might have access to medical records or other personal information.

Consumers lost more than $5.8 billion to fraud in 2021, an increase of more than 70% over the previous year, according to the Federal Trade Commission. Out of more than 2.8 million consumer reports, imposter fraud was the most reported category with more than $2.3 billion in losses.

VRS is committed to protecting the security and privacy of your retirement account information, and there are several steps you should take now to better secure your information and avoid common fraud pitfalls.

Keep your contact information current with VRS to ensure we reach only you.

If you change your address, phone number, email or bank account information, update all your VRS accounts immediately to reflect the change.

Create strong and unique passphrases for your VRS account(s).

Avoid using short, stand-alone passwords that could be easily guessed. Instead, create a unique strong passphrase for each account. Passphrases use a combination of upper- and lowercase characters, symbols and numbers. Change your passphrase every 90 days to further your protection.

Use antivirus and antispyware software.

Choose software from a reputable source and update it regularly. Running scans of your computer can help detect compromising activity.

Do not click suspicious links or download unrequested attachments from emails. If you are uncertain of the sender’s identity, always err on the side of caution.

Avoid sharing too much personal information on social media sites. Do not use the names of family members or loved ones in your passwords, especially if that information could be easily garnered by viewing your social media profiles.

Stay prepared and in touch.

If you suspect you’ve been a victim of identity theft, contact VRS immediately and update passwords on all of your accounts.