Author: Charles Jorgensen CFP, JBL Wealth Management

In 2024 we published an article highlighting the growing risks of cybercrime and the importance of protecting personal and financial information. Two years on, that warning is even more relevant – and unfortunately more urgent.

Cybercrime has not only increased in volume, it has evolved in sophistication. The widespread availability of artificial intelligence tools has significantly raised the capabilities of bad actors, making scams more convincing, more targeted, and harder to detect than ever before.

What Has Changed Since 2024?

The core threats remain – phishing, fraud, identity theft and ransomware – but the way these attacks are executed has changed materially:

  • AI-driven phishing emails, SMSs and WhatsApp messages are now well written, personalised, and often indistinguishable from legitimate communication.
  • Voice cloning and deepfakes are increasingly used to impersonate executives, family members, or trusted advisers in so-called “urgent payment” scams.
  • Credential harvesting has become more automated, with attackers using AI to test stolen passwords across multiple platforms in seconds.
  • Social engineering has become more precise, with criminals mining social media, data breaches and public information to tailor attacks to specific individuals.

In short: fewer obvious spelling mistakes, fewer “red flags”, and far more pressure-based and emotionally manipulative tactics.

Why This Matters for Investors

The financial consequences of cybercrime are obvious, but the secondary effects are just as damaging:

  • Loss of privacy and identity
  • Compromised email and financial accounts
  • Long recovery periods and administrative burdens
  • Erosion of trust – particularly where family members or advisers are impersonated

As financial advisers, we continue to see that the most successful attacks are not technical – they are psychological.

Practical Steps to Protect Yourself in 2026

Many of the fundamentals we highlighted in 2024 still apply, but they now need to be treated as non-negotiable rather than “best practice”.

  1. Lock Down Your Digital Identity
  • Use unique passwords for every service, managed via a reputable password manager.
  • Enable two-factor authentication (2FA) on all email, banking, investment and cloud accounts – preferably using an authenticator app rather than SMS.
  • Protect your email account above all else. Email remains the master key used to reset most other passwords.
  1. Assume Messages Can Be Fake – Even Familiar Ones
  • Treat any unexpected request involving money or sensitive information with caution, even if it appears to come from someone you know.
  • Be especially wary of messages that create urgency: “please act now”, “confidential”, or “I’m in a meeting, can’t talk”.
  • Verify requests through a second channel – call the person on a known number or speak face-to-face.
  1. Be Careful What You Share Online
  • Limit personal details on social media, including birthdays, travel plans, family relationships and work roles.
  • Remember: attackers often build convincing scams using small, seemingly harmless pieces of public information.
  1. Secure Your Devices and Networks
  • Keep operating systems, browsers and apps fully up to date.
  • Avoid public Wi-Fi for any financial or sensitive activity.
  • Use reputable antivirus and security software on all devices.
  • Ensure important data is backed up securely and offline where possible.
  1. Protect Physical Information Too
  • Shred all documents containing personal or financial information before disposal.
  • Be cautious when sharing copies of ID documents – understand why they are needed and how they will be stored.

A Word on AI and Personal Information

While AI tools can be useful, we strongly caution against sharing detailed personal or financial information with public AI platforms. Information entered into these systems may be stored, reused or compromised in ways that are not always clear. As a rule of thumb: if you wouldn’t publish it online, don’t share it with an AI chatbot.

Our Ongoing Commitment

At JBL Wealth Management we continue to invest in secure systems and processes, including encrypted email for the transmission of sensitive documents. While this may occasionally feel less convenient, the risks of compromised personal information far outweigh the inconvenience.

If you are ever uncertain about a communication that appears to come from us, we encourage you to contact our offices directly to verify it.

In Closing

Cybercrime is no longer a fringe risk – it is a part of everyday life in a digital world. The tools available to criminals have improved, but so too have the defences available to individuals who stay informed and disciplined.

Security is not a once-off action. It is an ongoing habit.

Let’s not just talk about security – let’s actively practise it.

 

The information contained in this document is for information purposes only and should not be construed as financial, legal, tax, investment or other advice as defined and contemplated in the Financial Advisory and Intermediary Services Act, Act 37 of 2002. It does not constitute an offer to sell, or the solicitation of an offer to buy any product (the “Information”).