Historically, scams have been around since the dawn of civilization. They often took place in person, with con artists usually working in pairs or groups, targeting people in crowded public areas like restaurants or pubs.
With technological advances, scammers adapted and began using postal systems and phones, expanding their reach. As the internet evolved, it provided a new arena for scams. This article sheds light on some of the most common online scams and how you can protect yourself from them.
5 Scams to Be Aware of:
To safeguard your money, it’s crucial to be informed about the types of scams that exist. Here are the main ones:
- Vishing:
A favorite among scammers, vishing involves fraudsters calling you, posing as bank officials or service providers. They often claim that you owe them money and may even threaten legal action if you don’t pay. Remember: legitimate banks or service providers will never threaten arrest or ask for personal details over the phone. - Smishing:
Similar to vishing but done via SMS. Scammers send text messages posing as trusted institutions, asking for sensitive information or directing you to fraudulent websites. - Phishing:
Conducted primarily through email, scammers send seemingly legitimate emails with links leading to fake websites that ask for your banking information. To protect yourself:
- Check the sender’s email address for inconsistencies.
- Look out for spelling errors or unusual logos.
- Always visit bank websites directly by typing their URL into your browser.
- Credit Card Scams:
Several credit card scams exist, such as:
- Card cloning: Data is copied from one card and transferred to another, especially prevalent with non-chip cards.
- Data verification: Scammers pose as bank or credit card representatives and extract information from the cardholder.
- Double charging: A vendor claims a transaction error and charges the buyer twice.
- Fake online purchases: Scammers set up fake online stores or duplicate genuine ones to gather user data.
- WhatsApp Scams:
With the popularity of WhatsApp and its in-app payment features, scams have emerged. Criminals often clone devices and pose as the owner, requesting money from contacts. They may also ask users to send a verification code, giving them full access to the device.
Protecting Yourself from Scams:
Being aware of scam warning signs is the first step to safety. Additionally:
- Always research companies and websites before making any purchase.
- Opt for credit card payments as they offer better security compared to debit cards or bank transfers.
- Avoid downloading attachments or clicking links from unknown sources.
- Keep personal security details private.
- Take online security measures, such as two-factor authentication, and use strong, unique passwords managed by reputable password managers.
By staying informed and practicing safe habits online, you can better protect yourself from potential scams.
