Protecting Your Financial Information: A Guide for UBC Faculty and Staff

Cybercriminals actively target individuals involved in financial transactions, making proactive measures to protect sensitive data essential, especially for UBC faculty and staff entrusted with managing university funds. 

This guide outlines key strategies to fortify your financial security: 

Recognizing and Reporting Phishing Emails 

Phishing scams are a prevalent tactic where cybercriminals pose as legitimate organizations to steal sensitive information. They often employ deceptive email addresses, urgent language, and suspicious links or attachments to trick recipients. Be wary of emails requesting personal or financial details, as reputable institutions will not solicit such information through email. 

Here's how to identify a potential phishing attempt: 

• Scrutinize the Sender's Email Address: Look for subtle variations or misspellings masquerading as official domains. 

• Inspect the Content: Be cautious of inconsistencies, unusual formatting, or urgent requests. 

• Avoid Suspicious Links and Attachments: Don't click on dubious links or open attachments from unknown senders. Instead, forward them as attachments to security@ubc.ca. 

• Verify Requests for Sensitive Information: If an email requests personal or financial information, verify its legitimacy through official channels. 

Reporting suspicious emails to security@ubc.ca plays a crucial role in: 

• Protecting Data: Safeguarding personal and institutional data, including login credentials, financial information, and intellectual property. 

• Preventing Further Compromise: Mitigating potential threats, such as ransomware attacks or data breaches, before they escalate. 

• Educating the Community: Enhancing awareness and empowering individuals to identify and prevent future phishing attempts. 

Securing Your Online Banking 

While online banking offers convenience, it also presents security risks. Hackers can exploit vulnerabilities to gain access to your sensitive information through methods like phishing attacks and malware. Here's how to fortify your online banking security: 

• Use Strong Passphrases: Create a unique and complex passphrase for your online banking account. 

• Enable Multi-Factor Authentication: Add an extra layer of security by enabling multi-factor authentication on your account. 

• Secure Your Devices: Lock your devices with a PIN and install a robust firewall and anti-virus software. 

• Keep Software Updated: Regularly update your device and software to patch known security vulnerabilities. 

• Use Secure Networks: Avoid using public Wi-Fi for online banking transactions. 

• Access Legitimate Sources: Only access your bank's website or download their app from official sources.

Important Dos and Don'ts for Online Banking

Do:	Don't
Use strong, unique passphrases	Share your online banking credentials with anyone.
Enable multi-factor authentication	Store your credentials in password managers, browser "remember me" options, or device notes.
Secure your devices	Use personal information in your passphrases or security questions.
Keep software updated	Use public computers for online banking.
Use secure networks	Click on unverified links in emails or text messages.

Cybercriminals often target individuals involved in financial transactions on behalf of the university. They may use compromised accounts to initiate fraudulent purchases, issue fake purchase orders, and redirect emails to steal funds.

Here are steps to secure UBC's financial transactions: 

• Supplier Verification: Request suppliers to verify purchase orders exceeding a certain value with you before processing. 

• Purchase Order Review: Encourage suppliers to scrutinize purchase orders for missing elements. 

• Procurement Management System: Utilize a system to minimize manually generated purchase orders, reducing the risk of interception and manipulation. 

• Email Monitoring: Regularly check for unusual forwarding rules created in your email account. 

Additional Tips for Financial Security 

• Monitor Accounts Regularly: Review your bank statements and credit card activity for any unauthorized transactions. 

• Protect Security Questions: Avoid using common security questions or answers easily found online. 

• Use a Secure Password Manager: Employ an encrypted password manager to store and manage your passwords securely. 

• Be Vigilant Against Scams: Beware of unsolicited requests for financial information or decisions. 

• Shred Financial Documents: Shred any paper documents containing sensitive financial information before discarding them. 

• Secure Online Shopping: Look for the padlock icon and "HTTPS" in the web address bar before making online purchases. 

• Clear Shared Computers: Delete browsing history and cache after using a shared computer. 

Go Further… 

• Take precautionary steps to protect your CWL account when making financial transactions