Protecting Your Financial Information and Accounts | Ben Rosbach & Miranda Osti

By Ben Rosbach & Miranda Osti

As financial services become increasingly digital, protecting personal and financial information has become an important part of sound financial management. Financial fraud continues to evolve, and some schemes are becoming more sophisticated through the use of technology, including artificial intelligence.

While these developments are worth being aware of, there are several straightforward steps investors can take to strengthen the security of their financial accounts and personal information.

Understanding Today's Financial Fraud

Financial fraud can take many forms, including fraudulent emails, identity theft, unauthorized account access, and attempts to transfer assets without the account owner's knowledge.

The Federal Trade Commission reported approximately $15.9 billion in consumer fraud losses in 2025, while investment-related scams accounted for approximately $7.9 billion of reported losses. These figures underscore the importance of maintaining good security practices and remaining attentive to unusual requests involving financial accounts.

Technology has also made it possible for fraudulent communications to appear increasingly convincing. For example, artificial intelligence can be used to create realistic emails, text messages, voice recordings, and other communications.

The purpose of discussing these risks is not to create unnecessary concern. Rather, awareness and a few basic precautions can help reduce the likelihood of becoming a victim of fraud.

An Example: Unauthorized Account Transfers

One area that has received increased attention within the financial services industry is fraudulent investment-account transfers.

The Automated Customer Account Transfer Service, commonly known as ACATS, is a legitimate system that allows investors to transfer investment accounts between financial institutions. It is an important part of the financial system and makes legitimate account transfers more efficient.

As with other financial systems, however, criminals may attempt to misuse the process by obtaining personal information and impersonating an account owner.

For example, an individual may first have their email account or other personal information compromised. A fraudster could potentially use that information to establish an account elsewhere and then attempt to initiate a transfer of assets.

This type of activity is one reason that maintaining strong security practices across all financial and email accounts is important.

How We Help Protect Client Accounts

Protecting assets and personal information is an important part of our ongoing responsibility to our clients. We maintain a range of administrative, technical, and operational safeguards designed to help protect client accounts and sensitive information from fraud, unauthorized access, and cybersecurity threats.

As part of our procedures, we verbally confirm all ad-hoc requests to move money before they are processed, including requests to send funds to a bank account. This additional verification provides an important opportunity to confirm that the request is authorized and consistent with the client's instructions. We do not rely solely on email instructions for these transactions.

Our cybersecurity practices also include ongoing employee cybersecurity and fraud-awareness training, email security and monitoring, multi-factor authentication and access controls, encryption on firm-issued laptops, and appropriate safeguards for client and firm information. All employees are subject to background screening.

In addition, our systems and technology environment are actively monitored for potential threats, suspicious activity, and security events. Our team and technology partners use monitoring and security controls designed to help identify unusual activity and potential threats so that appropriate steps can be taken when necessary. We regularly review and update our security practices as the cybersecurity landscape continues to evolve.

We also encourage clients to contact us whenever they have questions about an unexpected email, phone call, transfer request, change in account information, or other activity involving their financial accounts. If something does not look or feel right, please pause and contact us before taking action. There is never a need to hesitate to contact us, taking a few minutes to independently verify a request can be an important step in helping protect your assets and personal information.

While no security measures can eliminate every potential threat, we remain committed to maintaining prudent safeguards and continuously improving our practices to help protect our clients, their assets, and their confidential information.

Steps You Can Take

There are several practical measures you can take to further strengthen the security of your financial information.

Protect your email account

Your email account can contain personal information and may be used to access other accounts. Use a strong, unique password and enable multi-factor authentication whenever available.

When receiving an unexpected email or text message asking you to sign in, consider navigating directly to the company's website rather than using a link contained in the message.

Review your account-security settings

Many financial institutions and custodians offer additional security features, including transfer restrictions, multi-factor authentication, and account alerts.

Review the security options available through your financial institutions and consider enabling those that are appropriate for your circumstances.

Enable account alerts

Account alerts can provide timely notice of important activity, such as transfers, withdrawals, changes to account information, or other significant transactions.

Review these notifications regularly and contact the appropriate institution if something appears unfamiliar.

Consider a credit freeze

A credit freeze is available at no cost through the three major credit bureaus (Equifax, Experian, and Transunion) and can help prevent unauthorized individuals from opening new credit accounts in your name.

You may temporarily lift a freeze when you need to apply for credit.

Consider adding a trusted contact

A trusted contact is someone your financial institution may contact if it has concerns regarding your account or circumstances, including potential financial exploitation.

A trusted contact does not receive authority to transact in your account simply by being designated as a trusted contact. Instead, the person serves as an additional point of contact when appropriate.

If you would like to review or add a trusted contact to your accounts, please let us know.

Take time to verify unexpected requests

One of the simplest precautions is to avoid making financial decisions in response to an unexpected request without first verifying the information.

If you receive a message or phone call requesting money, account information, passwords, or other sensitive information, consider contacting the organization directly using a phone number or website you already know to be legitimate.

If a request appears unusual, we are also happy to help you determine whether additional verification may be appropriate.

If You Have a Security Concern

If you believe your financial information or an account may have been compromised, contact the relevant financial institution as soon as possible.

Depending on the circumstances, you may also want to change affected passwords, review recent account activity, enable additional security features, or consider placing a fraud alert or credit freeze on your credit files.

The Federal Trade Commission's IdentityTheft.gov provides resources for individuals who believe they may have experienced identity theft. The FBI's Internet Crime Complaint Center (IC3) also accepts reports involving internet-related fraud.

Please contact us as well. Even when an account is held outside our firm, we can help you think through the appropriate next steps and determine whether there are additional areas of your financial plan that should be reviewed.

A Practical Approach to Account Security

Financial security is an ongoing process, and no single measure can eliminate every potential risk. However, maintaining good digital-security practices, reviewing account activity regularly, and taking time to verify unusual requests can provide meaningful protection.

Most importantly, you do not have to navigate these situations alone.

If you receive a communication that raises questions or are uncertain about a request involving your financial accounts, please reach out to us before taking action. We are always happy to help you verify the appropriate next step.

A thoughtful and measured approach to account security can help protect the financial assets and information you have worked hard to build.

Gerber Kawasaki Wealth & Investment Management is an investment advisor located in California. Gerber Kawasaki Wealth & Investment Management is registered with the Securities and Exchange Commission (SEC). Registration of an investment advisor does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission. Gerber Kawasaki only transacts business in states in which it is properly registered or is excluded or exempted from registration. A copy of Gerber Kawasaki Wealth & Investment Management 's current written disclosure brochure filed with the SEC which discusses, among other things, Gerber Kawasaki Wealth & Investment Management's business practices, services and fees, is available through the SEC's website at: http://www.adviserinfo.sec.gov .