As technology evolves, so do the different types of eCrime. Hackers are tireless in their efforts to steal account details so they can make unauthorised purchases and funds transfers.

You might think ‘it will never happen to me’ but the reality is that it could. As criminals around the world become more cunning, more everyday Australians are at risk.

Because Elston retains client details, everyone who works here is aware of their obligation to protect your privacy at all times. Strict measures are in place to ensure that every transaction we make on your behalf is indeed authorised by you, and not by anyone else.

Recently when a client of ours was considering making a property purchase using his Self Managed Super Fund (SMSF) we discussed the opportunity with them. But when an email from the client, arrived with a request to transfer an amount of money from his bank account to a third party account for the purchase of the property, alarm bells sounded. We saw that the email contained no banking instructions. Elston policy involves requiring any request for transfer of funds to an external account to be verified with the client in writing and verbally over the phone. When we contacted the client about the email, they were horrified, as they had not made the request. They were very grateful that Elston had followed up with them personally, rather than simply believing the email on face value, as they stood to lose a lot of money to an eCriminal.

Elston’s Compliance Consultant Jenny Mulders, confirms that there are many measures in place to protect our clients. One such measure is that every funds transfer request to a third party over email is verified over the phone or in person. All regular payments to any account can only be made with a signature. All invoices from third party providers need to be approved by the client in writing, as well as the appropriate Elston representative.

Follow these tips for your online security:

1. Keep your pin safe and in a separate location.
2. Try avoiding using public email accounts like Hotmail and Gmail for your financial matters.
3. Use an email service provider that has a high level of security.
4. Create an email password that is not easy to guess.
5. Keep your computer safe with virus protection and firewalls.
6. Check your account statements for purchases or withdrawals you don’t recognise.
7. Don’t open emails from people you don’t know.
8. Don’t store usernames and passwords on your computer – or if you have to, ensure they are encrypted.

If you would like more information please call 1300 ELSTON or email info@elston.com.au and an adviser will be in touch.