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How To Protect Yourself From A Scam? : Know All Facts!

How To Protect Yourself From A Scam?: Know All Facts! >> The write-up shares details about online frauds and scams and tips to avoid those scams.

Thousands of online users are targeted by online scammers daily, making it challenging for Worldwide consumers to keep up with scammers. They are opting for new techniques and methods to scam people and stay ahead of the authorities. But you don’t have to panic as there are some easy ways available to keep yourself protected from online frauds and scams. 

It has been estimated that over $1 million was lost from online frauds and scams initiated via the web. The rapid growth of online scams and increased sophistication continue to become challenging things for consumers. 

If you are also a victim of online fraudulent activity, please don’t panic as you can use the following guide on How To Protect Yourself From A Scam to stay protected and safe.   

What is Online Scam?

Internet or online scam is a process where fraudsters and scammers use online software and websites to steal information, money and identity of innocent consumers Worldwide

Thousands and millions of dollars are lost every year because of online scams. Internet scams are not limited to a particular race, people or age as it affects people from all backgrounds. Youngsters are 25% more likely to become victims of online scams than consumers above 40 years and above. 

However, people over 40 years are more likely to lose the higher amount of money when they fall prey to online frauds and scams. 

How are Online Scams Performed?

The online fraudsters and scammers opt for new techniques and methods to deceive, con and defraud the consumers. 

  • Phishing – Also called as Spoofing, it is the type of online fraud where fake websites and emails trick people and extract their financial and personal information. The victims usually believe that they share details with legit businesses, but in reality, they are scammers who steal their passwords, identity, account and financial details. 
  • Data Breaching – Data breaching is online fraud where financial and personal data is leaked or accessed by unauthorized third parties. Scammers use the stolen data to perform misdeeds, like hacking financial accounts and taking out loans in the victim’s name. 
  • Online Shopping Frauds – As the name suggests, it is conducted online while shopping for any product where victims purchase products online from a fake website. After ordering, they never receive any product, and when a complaint is filed with the retailer, they get no responses, and no refund is provided. It is referred to as an online shopping scam.         

How To Protect Yourself From A Scam and Stay Safe?

Using your 6th sense and “trust and verify” concept effectively helps you stay safe from online scams and frauds. Below are some helpful tips that can help you stay safe from online frauds and scams. 

  • Keep Changing Pass-codes – It is a smart move to keep changing your email password and never use the same passcode for your accounts and email. Try to keep your password strong by creating a combination of capital letters, special characters and numbers. 
  • Try to Shop Online on Encrypted Websites – The encrypted websites use “https” rather than “http,” and when you attempt to launch the encrypted website, you will see a lock icon in the browser that proves that the website is encrypted. It is not the indicator for a secure website, but browsing such a website is always safe. 
  • Never Use Email Signatures – You must avoid sharing your banking instructions, account numbers, passwords, and other information via emails. You must use a protected and encrypted file-sharing application instead of email to share documents, files, or signatures. You may share your account number via a call to a legitimate organization. 
  • Confirmation of Wire Transactions Verbally – Never send money to strangers online. If you need to wire the money for an online transaction, call the authorized person to confirm if he/she has requested the transaction. If the wire transfer is for a family member, call them to ensure the request is genuine. 
  • Never Click any Suspicious Links or Attachments – Scammers send emails containing suspicious third-party links and attachments. Clicking those links or opening the attachment means downloading viruses in the system. Never click on such suspicious links or open attachments from unknown sources. As you click on those links, you are redirected to fake websites where you will be asked to share your information. It may also inject malware into the system to steal your personal information. 
  • Keep the Two-Factor Authentication On – It is the robust security feature where two types of authentication are needed, like your password, and then a special code or OTP send to your mobile at the time of login. It adds extra security and protection to your account when the password gets stolen by scammers.           

These are some of the tips and you may use these tips to stay protected from online fraud.       

How to Report an Online Scam?

Regardless of your location or country, you can report the online frauds to authorities if you fall prey to these online scams and frauds. The methods for reporting the scams vary depending upon the country and origin of the scam. 

  • Phishing Frauds – The fake message or scam text you received needs to be forwarded to the authorities in your country that specialize in investigating unsolicited emails. You also have to report the scam to the nearest trade commission of your state.
  • Online Scams – Every country has Internet Crime Complaint Cell where victims may report online frauds or scams. The experts will investigate the scam and let you know the progress. 
  • Online Shopping Scams – Victims may report the online shopping scam at the consumer court in their state. Every country has a consumer court where these frauds must be reported immediately. 

Wrapping It All

As mentioned, online scams can victimize people of all backgrounds, and these frauds cost millions of dollars per year. So, you must stay protected and keep others alert about these scams. 

Use the tips mentioned above on How To Protect Yourself From A Scam and stay safe always from such scams and frauds.

Do you have any tips to add to this guide for the readers? Please share it in the comments section below.