As a response to the recent rise in online scams, Clearwater Management has enhanced their cybersecurity measures and announced that they are setting up a new online scam monitoring team. This specialized unit has been specifically created to target and tackle cybercrime – including online fraud – to enhance the cybersecurity of Clearwater Management and its clients.
No matter how strong your encryption level is, scammers are becoming more sophisticated in how they attempt to defraud their targets of financial and personal data assets. Wealth management companies and their clients are at particular risk, with Clearwater Management addressing the issue by establishing this specialist team to help identify, prevent, and reduce the impact of cybersecurity breaches. Specific areas that they are targeting include phishing scams, malicious software attacks, mobile fraud detection, and the illegal hacking of social media accounts.
Phishing emails and websites can cost your business time and money, as well as compromising valuable customer relationships built on trust. That’s why the Clearwater Management online scam monitoring team has a division focused on the detection of online phishing scams. Recognizing that these scams often target popular brands with a strong online following, as well as high net worth individuals and companies, is key in deterring this kind of cybercrime. Through the proactive monitoring of online phishing activity, the team aims to intercept any potential threats before they manage to wreak havoc on client systems and finances. The team may track listed scamming websites in real time so permutations will be readily identified.
Malware attacks can affect businesses and individuals in different ways. They are all harmful. Malware is not only responsible for huge financial losses, but also for creating negative publicity against respected brands, or instilling mistrust of company operations.
With the aim being to always remain a step ahead of evolving cybercriminal techniques, the Clearwater Management online scam monitoring team utilizes advanced malware security to reduce risk. The team has established leading protocols to tackle increasing incidences of identity and credential theft that occur when command servers used in the hijacking of infected systems are disrupted. They know the most effective way to deflect a malware attack is to stop malware perpetrators at the source. Which is why the primary aim of the team in defending clients against malware is to disable its functionality.
Mobile Fraud Detection
Cybercriminals are becoming more adept at navigating and abusing mobile apps, especially ones designed for accessing mobile accounts. Mobile malware and rogue mobile apps are on in the increase, resulting in fraudulent impersonation, data theft, the launch of botnet activity, unapproved surveillance, brand abuse, and the hijacking of devices to pay for unauthorized purchases or services. The aim of the online scam monitoring team is to quickly detect and intercept these kinds of illegal activities and effectively deal with the rise in fake mobile apps immediately. Unmonitored mobile fraud can result in potential or existing customers having a negative user experience, with potential consequential damage to the reputation of your brand. Financial losses can also occur through identity theft, with the attacker gaining user privileges to your accounts.
Most businesses and organizations today use social media as an integral part of their enterprise transactions and communications. This has led to a rise in social media fraud, with cybercriminals setting up fake or duplicate accounts to fraudulently gain trust, or for the practice of social engineering. Some of these fake accounts are set up to lead customers to a phishing site, direct them to a malware download site, acquire confidential communication lists of company followers to on-sell to a competitor, to convey false information to affect the share price of a company, or to “kidnap” the profile of a successful social media profile and demand a ransom for its retrieval by the legitimate owner. Brand protection is also imperative when you engage with clients and do business via social media. Constant monitoring of social media accounts by the team is a key part of providing the increased cybersecurity necessary for the safety of your social media profile and brand.
The online scam monitoring team has an unlimited scope to address all of these areas and any online cybersecurity threats. These can include the detection and investigation of instances of credit card fraud, cryptocurrency scams and cryptocurrency trading scams including bitcoin, forex, and binary options scams.
The dedicated team employs the latest high-tech solutions to aid the detection and avert possible damage by online scams, while focusing on delivering the highest levels of online personal data and wealth protection services possible.
On a more personal note, Clearwater Management would like to issue their clients and members of the global investment community with a reminder to never share passwords online or by phone.