Wealth Planning

Protecting Your Family Online

Seven key practices to help answer the question, “How do I protect my family online?”
15 Feb 2023  |  5 min read
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Woman and child looking at laptop.

Cybersecurity is a critical part of our digital world, as the number of devices we use to stay connected has increased, and digital communication and social media usage have become a fundamental part of our daily lives. Thus, it is more important than ever to discuss internet safety with your kids and other young family members.

The seven steps below outline best practices for protecting your family from cyber threats, which are on the rise.

1. Start the Conversation Early

It is crucial to maintain a healthy dialogue with your children as their online behaviors change as they grow and as the digital landscape evolves. We encourage you to have regular family conversations and to spend time together online. Teach your children how to safely and responsibly use the computer and internet, starting with the tips below.

  • Do set expectations for appropriate use of the internet and social media, including time limits. Consider establishing a digital citizenship agreement 
  • Do teach responsible information sharing online: “Would I feel comfortable if my teachers, college admissions officers, or bosses saw this post?”
  • Do pay attention to your child’s social media usage (platforms and posts)
  • Do enable history browsing and parental controls to monitor usage
  • Don't ignore privacy settings on your family’s devices
  • Don’t give your children administrator access to their mobile devices. This will help prevent accidental purchases, mobile app downloads without your consent, and more

 

2. Practice Strong Password Hygiene

It is critical to teach your child to use unique, complex passwords — a great first step toward stopping bad actors.

  • Do utilize long, memorable, and hard-to-guess pass phrases, such as a favorite song lyric
  • Do use two-factor authentication. For younger children, the parent’s phone number should be used for greater control
  • Do consider a password application, such as LastPass, 1Password, or Dashlane, to help manage multiple passwords
  • Don’t reuse passwords
  • Don't record passwords on sticky notes or in notebooks, documents, or text messages
  • Don’t use easily guessed passwords, such as “password”, “user”, or “first name_last name”

 

3. Protect Personal Devices

Configure devices securely and use a difficult-to-guess passcode as a backup to a biometric security measure, such as a thumbprint or Face ID.

  • Do enable automatic screen locks and disable notification previews on a locked screen
  • Do enable phone location tracking services, including location sharing with family and Emergency SOS
  • Do enable automatic updates for devices with security patches and software updates
  • Don’t share PINs and passwords with your children
  • Don't use email for long-term storage of sensitive information
  • Don’t rely on a single point of storage—instead, enable cloud storage from a reputable service, such as Dropbox, iCloud, or Google Drive
A close-up of a person's hand holding a modern smartphone. The phone has a sleek design with a reflective surface, and the person is wearing a dark-colored long-sleeve shirt. The background is blurred
A close-up of a person's hand holding a modern smartphone. The phone has a sleek design with a reflective surface, and the person is wearing a dark-colored long-sleeve shirt. The background is blurred

4. Monitor Online Activity

If your children have smartphones or tablets, consider configuring their devices to control app usage, website access, and purchases. Some tablets allow you to create parent-controlled profiles that restrict your children to preapproved apps and to install parental control software. 

  • Do understand the apps and programs that your child is using by researching and learning about each one
  • Do set and enforce internet rules and regulations. Poor behavior could lead to rescinded college offers, termination of employment, or legal issues: “Anything you post could be permanent”
  • Do use parental control apps to monitor online activity
  • Don’t share personal information on public forums, such as your real name, addresses, phone numbers etc, when you're on vacation
  • Don't allow your child to use a tablet or device without setting up controls
  • Don’t ignore your child’s online habits and browser history

 

5. Teach Email or Text Message Red Flags

Educate your children to be suspicious of unexpected email or text messages, particularly those containing attachments or links.

  • Do identify common phishing email red flags, which include spelling and grammatical mistakes, aggressive subject lines, and fake website displays
  • Do look for misleading domain names in an email address or URL
  • Do avoid clicking a link from a suspicious source. Hover over a URL, as opposed to clicking, so that you can see the hyperlinked address
  • Don’t provide personal or financial information via email or text to a suspect bank or government agency
  • Don't open attachments from unknown sources
  • Don’t install a program or software you did not choose to download
A close-up of a computer screen displaying an email inbox with the spam folder highlighted. The spam folder contains 92 unread messages, and a cursor in the shape of a hand is hovering over it. The image shows pixelation, indicating a zoomed-in digital display
A close-up of a computer screen displaying an email inbox with the spam folder highlighted. The spam folder contains 92 unread messages, and a cursor in the shape of a hand is hovering over it. The image shows pixelation, indicating a zoomed-in digital display

6. Make Gaming Safe

Online gaming and social media can both show a dark side in the form of competitiveness and bullying. Make sure your children know what to do if they encounter harassment while playing games online or using social media platforms. Encourage your children to report suspicious messages to an adult. 

  • Do discuss inappropriate content, such as hate speech, violence, explicit material, or invitations to meet without parents present. Encourage your children to share anything that makes them feel uncomfortable
  • Do talk to your children about why cyberbullying is damaging and hurtful, and let them know you will be there for support
  • Do be diligent in observing behavioral or mood changes, and if harassment appears online, use privacy tools to block the individual concerned. You can also report the incident to ensure someone else isn’t harassed
  • Don’t delete all evidence of the incident so that there’s no record
  • Don't retaliate and respond to the bully, which reinforces bullying behavior
A close-up of a person holding a white and black gaming controller with both hands. The fingers are positioned on the buttons and thumbsticks, indicating gameplay. The background is blurred, and the person is wearing a white shirt
A close-up of a person holding a white and black gaming controller with both hands. The fingers are positioned on the buttons and thumbsticks, indicating gameplay. The background is blurred, and the person is wearing a white shirt

7. Avoid Public Wi-Fi

Public WiFi in airports, libraries, hotels, and coffee shops is an attractive resource for staying in touch when away from home. However, it is not encrypted like your home router’s wireless connection, which puts you at greater risk of being hacked. 
 

  • Do ensure that the connection of an unsecured public network requires a login or registration
  • Do turn off automatic connectivity on your smartphone or laptop so that you don’t unknowingly connect to unsecured networks
  • Do consider using a virtual private network (VPN) to ensure that your privacy is protected when using public WiFi
  • Don’t shop online when using public WiFi
  • Don't access personal bank accounts on unsecured public networks
  • Don’t leave your laptop, smartphone, or tablet unattended in a public space

 

Additional Resources

Although you might know the basics, educating your children is essential to keeping them safe. The more they know, the more they will be in a position to avoid common mistakes that internet and mobile users make.

Online threats change all the time, so it is important to follow the news and to stay alert to the newest dangers.

If you are looking for additional information, reach out to the Goldman Sachs Family Office team. In addition, here are several helpful resources:

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This material is intended for educational purposes only and is provided solely on the basis that it will not constitute investment advice and will not form a primary basis for any personal or plan’s investment decisions. While it is based on information believed to be reliable, no warranty is given as to its accuracy or completeness and it should not be relied upon as such. Information and opinions provided herein are as of the date of this material only and are subject to change without notice. Goldman Sachs is not a fiduciary with respect to any person or plan by reason of providing the material herein. Information and opinions expressed by individuals other than Goldman Sachs employees do not necessarily reflect the view of Goldman Sachs. Information and opinions are as of the date of the event and are subject to change without notice.

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