At the end of the financial year (EOFY), we often require supporting documentation such as wallet screenshots or transaction records to complete your financials accurately.
One of our clients recently raised a very valid concern—he was uncomfortable sending wallet screenshots via email, especially after his partner’s email account had been hacked. This is a smart instinct.
Why email can be risky
Emails can be intercepted or accessed if accounts are compromised
Attachments may remain stored indefinitely in inboxes
Sensitive financial data can be exposed if proper precautions aren’t taken
Safer alternatives to email
If you need to share crypto-related documents, consider these more secure methods:
Secure file sharing platforms
Use password-protected cloud storage such as Dropbox or Google Drive. Share access via a secure link instead of sending files directly, and set expiry dates and permissions where possible.
Encrypted document portals
Where available, upload documents through a secure client portal designed for financial data handling.
Remove unnecessary sensitive details
Ensure screenshots do not expose private keys, recovery phrases, or more information than required.
Use strong account security
Enable two-factor authentication on email and cloud accounts, and avoid using public Wi-Fi when uploading sensitive data.
If you are unsure how to send documents securely, we are happy to guide you through safer options.
Choosing a Trusted Crypto Provider
Unfortunately, we have also seen cases where clients have been directly impacted by fraudulent or unreliable crypto providers.
One client recently reported being scammed by a provider, reinforcing how critical it is to do proper due diligence.
What to look for in a crypto provider
When selecting a platform or provider, consider the following:
Regulation and licensing
Check whether the provider is registered with AUSTRAC and complies with Australian financial regulations.
Reputation and track record
Look for established providers with a proven history and check independent reviews.
Transparency
Ensure fee structures are clear and that company information is readily available, with no hidden or overly complex terms.
Security features
Look for two-factor authentication, cold storage options, and any available insurance protections.
Red flags to watch out for
Be cautious if you notice:
Promises of guaranteed or unusually high returns
Pressure to act quickly or limited-time offers
Difficulty withdrawing funds
Poor or non-existent customer support
Requests for private keys or recovery phrases
If something feels off, it is worth pausing and investigating further.
Staying Vigilant in a Growing Market
Crypto can be a valuable part of a diversified SMSF strategy, but it also comes with unique risks. The key takeaway from recent client experiences is this: security and due diligence are just as important as investment performance.
By taking simple precautions when sharing information and being selective about who you trust with your assets, you can significantly reduce your exposure to fraud.
Need Help? If you have concerns about sending your EOFY crypto information securely, verifying a crypto provider, or managing crypto within your SMSF, our team is here to help.
Reach out to Freedom Financial Partners for guidance tailored to your situation. Email enquiries@freedomffs.com.au.