The Bottom Line
Small business is important to Central Oregon, and to Mid Oregon. Find tips and resources for business, and information about Mid Oregon’s commercial services and business members.
Is Social Media Scamming You?
June 17, 2016, Stickley on Security
Cyber criminals will use whatever they can think of to try to get your online banking credentials or other information they can sell on the dark web. Here are five ways they use social media scams to do it and how you can avoid giving up your information, in no particular order.
Commenting To Legitimate Articles
- They use the comments to news articles and popular posts on Facebook by adding their own posts with a conveniently clickable link included. Those who click the link may be taking to fake websites or presented a form for which the user is supposed to enter information. Often the links are accompanied by catchy headlines (click bait) themselves.
- They create fake customer service accounts on Twitter, Facebook, LinkedIn, or other social media that pretend to help customer. For example, they may see a Twitter user complaining about not being able to reach a representative. They reply to that user with a post that includes a link to another site where the user is led to believe he or she will get assistance. Unfortunately, the link really is phony and asks for login credentials and/or other sensitive information.
Create Accounts With Sound-A-Like Names
- They create social media accounts using names that sound like legitimate companies, such as Netflix and offer discounts. When users click links included in these, they are asked for account information or other details that can be sold.
- They use fake online surveys and polls to trick users into inputting information that can be later sold or used for fraud. An example is setting up a realistic news story and asking what users think. A link is included, naturally, but it goes to a fake site where personal information is requested. Often the “surveys” promise a chance to win a fabulous prize.
Request Your Personal Information
- They pretend to offer live streaming of big events, such as the Olympics or other popular sporting events. Often they attach a link to a posted story about the event that is on Facebook. However, when the included links are clicked, a request for personal information appears claiming the video cannot play until they are entered.
Avoid these scams by not clicking links or putting information into any form that appears as a result of clicking links. If you need to reach your financial institution or other organization for any kind of support, contact them directly using information from their website that you have previously bookmarked. Alternately, type the name of the site into the browser manually.
Be Suspicious
View any comment posted in social media that claims to help you or offer you something sensational with suspicion. If you want to stream an event, go to the website of a well-known and trusted source to get there, such as the major sports broadcasting companies, media outlets, or television networks.
Use apps that are downloaded from the official app stores for your devices. These are typically put under additional scrutiny for security before being allowed into the app stores. Sideloading,downloading apps from places other than the app stores is not recommended because it introduces additional risk of executing malware on your devices.
As always, make sure all internet-connected devices have anti-malware installed and it is kept updated. Also, keep all your software and operating systems updated with the latest critical and security patches. While these actions don’t guarantee malware won’t be installed or a vulnerability won’t be exploited, they reduce your risk significantly and it’s worth the relatively small effort versus dealing with malware.
© Copyright 2016 Stickley on Security
Security and Fraud Center Powered by Stickley on Security
Jim Stickley has stolen credit cards, hacked Social Security numbers, robbed banks, and created fake ATMs. He is an identity thief, but he is no criminal. Fortunately for all victims involved, Stickley is a cyber security expert with over 20 years in the industry who was hired to perform these attacks by corporations testing their security. His job is to find security flaws before the real criminals find them and warn people and organizations about what they can do to protect themselves.
Teach Your Kids to Pump Up Their Savings
Good Financial Start
Getting financially fit isn’t easy. But when children learn how to pump up their savings they’ll have one of the most difficult aspects of finance mastered by the time they’re teens—being consistent savers.
Here are a few ideas to help your kids and grandkids get money fit:
* Have young children—preschool age—sort different types of money into piles by color and size.
* Play store. Help them use a pretend cash register.
* At the grocery store, let children of all ages help you shop. Teach them how to comparison shop—for example, show them that for every $4.85 box of cereal, there may be similar brands on sale for half as much.
* As children get older, let them know what things cost. Share sales receipts and bills that you receive for items or services you’ve purchased for them.
* If you decide to pay your children an allowance, include them in the decision. Discuss allowance amounts and what they should use their allowance for. The amount is your call, but allow their input. One idea is to have children set aside part of their allowance for spending, part for saving, and part for sharing. Explain what you’ll pay for and what they should be responsible for. For example, when you’re at the movies, maybe you agree to pay for the movie ticket, but the Milk Duds are on them.
* As they reach high-school age, clarify what you will pay for and what your teens are responsible for. For example, they may want the newest cellphone that comes with a really high price tag. Establish your spending limit. If they still want the more expensive version, have them make up the difference. Often, once the responsibility of paying for items is on them, the “latest and greatest” aren’t as important.
Children’s Financial Resources
Savings Calculator: How much will your child save over time
Learn about Mid Oregon Savings Accounts
When to Start Saving for College– Smart About Money Calculator
Millennials Serious About Ditching Debt
Millennials are making wiping out debt a top priority, according to a USA Today/Bank of America Money Habit survey. Millennials are serious about ditching debt.
College Grads Somewhat Satisfied
Among those surveyed, two-thirds of millennials said they have made getting out of debt a top priority. This ranks just above having minimal financial stress, spending less than they earn and having an emergency savings fund.
The study showed a significant difference in responses from college-educated millennials versus those without a degree. Almost 60% of respondents with degrees said they were somewhat satisfied with their current financial situation, while only 40% of non-college grads felt confident about their status.
Other findings:
• On average, 64% of those polled have savings–57% without a college degree and 85% with a degree. Even college grads strapped with student loan debt have more confidence than those who didn’t go to college or didn’t graduate;
• Across the board, 51% are concerned that they won’t have enough money to achieve financial wellness;
• Among millennials with savings, 43% have less than $5,000 put away; and
• One-third of those with savings have a 401(k): About half of millennials ages 26-34 participate in an employer-sponsored 401(k) plan, while only 14% of millennials younger than 26 participate in a plan.
Worried But Satisfied
Even though most young adults said that at times they worry about their financial situation, most generally are satisfied with their situation. They are wary about taking on more debt and are hesitant to purchase items they can’t afford.
No matter your debt situation, we’d love to touch base with you. Stop by or call today at (541) 382-1795 or visit online at www.midoregon.com.