As a professional fiduciary, your daily routine in today’s day and age probably looks a lot different than it used to. You’re likely doing most of your workload online, which can involve the sensitive data, bank access, and personal identities of your clients. 

Meanwhile, there’s a whole world of digital bad actors waiting to exploit any potential security openings. Luckily, staying safe online isn’t impossible, and can be bolstered through consistent steps. Here’s how to help protect yourself and your clients in a way that fits into your workday.

1. Password protection and login information

It used to be that a simple creative password was enough to keep accounts safe, but unfortunately, that is no longer the case, and we have to assume passwords will eventually be cracked or leaked.

• Ditch sticky notes: It’s best to use an enterprise password manager, like 1Password or Dashlane, for all your password needs. These services provide a digital vault that remembers everything for you, so you only have to remember one master key instead of an endless amount of passwords for every service.
• Enable two-factor authentication: Two-factor authentication (2FA) can be a vital safety step because even if a hacker steals your password, they still cannot access your account without a second verification step, typically a code from an authenticator app, a hardware key, or even a SMS message to your cell phone.

2. Be aware of fake, yet realistic AI scams

We’ve entered the era of AI-powered scams and it’s now possible for a scammer to use a short clip of your client’s voice to call you and make a request. It sounds like them, and may feel like them, but it’s not. This type of scam is more advanced than ever, and it’s crucial to always keep it in mind.

• The human test: As a fiduciary, you could establish a verbal safe word or a question with your clients if they ever call with an unusual request. You can keep this information in a secure, access-controlled location.
• Trust your gut: If a request feels rushed, overly emotional, or just plain "off," it’s important to take a pause and investigate it further. Scammers often rely on creating a sense of panic or urgency hoping that professionals may skip the usual checks and balances.

It’s also helpful to learn about other common scams your clients may face to help safeguard them from fraud.

3. Thoroughly vet all digital tools you use

As a fiduciary, you likely rely on third-party software for tasks like bookkeeping and document storage — giving outside vendors access to sensitive client and business data.

A helpful practice is to ask providers whether they have a SOC 2 report (an independent examination of how they protect customer data) once a year. Whether or not you read it cover-to-cover, it confirms they’ve been independently audited.

Here are some other ways fiduciaries use digital tools in their practices and how to evaluate the right tools for you.

4. Create habits to integrate into your daily routine

You don’t need to be a tech expert to keep data safe as a fiduciary, you simply want to be consistent. By establishing some key habits into your daily routine, you can help ensure that you’re always keeping an eye on protecting yourself and your clients.

• Don't assume your data is backed up: Cloud tools generally handle backups for you, but coverage varies and some require you to export your own copies. Ask your providers directly: how do you back up my data, how long do you keep it, and what's my recovery time if something goes wrong? For files stored locally, use a cloud backup service so nothing critical lives only on one device.
• Be wary of public WiFi: If you’re working outside the office from a coffee shop or while travelling, avoid using any free WiFi options for client business. Instead, use your cellphone's mobile hotspot feature instead, as public WiFi is not protected.
• Always download software updates: When your computer or cellphone asks to update, you should do so as soon as you can. Often, these updates include new security fixes that are crucial to securing your data. It’s also helpful to set your devices to auto-update so you’re always running the latest software with the most protections.
• Practice a clean digital routine: At the end of the day, it’s helpful to close all your browser tabs and sign out of any sensitive portals. Leaving a dozen client accounts logged in on a laptop is like leaving your car running with the keys in the ignition, it would only take one quick physical or remote access for someone to potentially gain access to sensitive data.

To help further protect your clients from fraud, here are some actions you can take.

5. Clear policies and paper trails

It’s vital to keep everything well documented. If a breach occurs or sensitive data is at risk, regulators, courts, and your insurance company will likely question if you acted with reasonable care. Having a paper trail and clear security policies can help prove that you took your digital responsibilities as seriously as your financial ones.

• Written security policy: Turns good intentions into enforceable rules for sensitive tasks such as account access and transfers, eliminating ambiguity for your team and clients.
• Training logs: Provides tangible proof that people who handle sensitive data are regularly trained to spot the latest AI-generated phishing or social engineering scams.
• Incident response plan: Acts as your emergency plan, ensuring you can handle the panic of a breach and notify the right experts to contain damage immediately.
• Security patch records: Proves you’ve consistently kept the digital security of any software you use up to date.

While staying on top of digital security can feel overwhelming, it’s ultimately just another essential part of a fiduciary’s duty. You aren’t just protecting data points or bank balances, you’re helping safeguard the real people who count on you each and every day.

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How True Link Can Help You

True Link helps families and professionals manage and help protect the spending of people with complex needs — such as those living with disabilities, aging, or in recovery  — while empowering them with more independence. Our True Link Visa® Prepaid Card and online platform helps make it easier to send money digitally, set spending limits, track purchases, organize receipts, and get real-time alerts.

Learn more at https://www.truelinkfinancial.com/prepaid-card

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‍This article is not intended to provide investment, tax, or legal advice. Before making decisions involving investing, legal, tax or accounting concerns, you should consult appropriate professionals regarding your specific situation.

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