What to know and how to protect yourself from Scam | Cybersecurity

This post will describe some of the typical techniques fraudsters employ as well as some tips for enhancing account security.

1. Phishing
2. Engineering, social
3. How fraudsters get your data

Phishing

Phishing is a kind of cybersecurity attack that involves sending a false message with the goal of collecting personal information.

One of the most typical methods that hackers get people's sensitive information is by phishing. Phishing is the practice of sending an email or text message pretending to be a legitimate organization with the intention of seducing recipients into disclosing personal information, such as passwords and banking and credit card information.

Then, accounts can be accessed using this information, which opens the door to financial crime and identity theft.

How can you help?

When in doubt, ask yourself these 4 questions to identify suspicious emails that need to be reported:

Is there a sense of urgency in the message?

Be wary of statements like "check your credentials/account details immediately," "send your account details to," "you have won," "obtain your prize by," and similar ones.

Avoid being duped by threats like "...reply immediately, or your account may be closed/deleted."

Are there any questionable links or attachments in the email?

DO NOT open or download attachments, or click on URLs that appear strange or unfamiliar.

Most fraudulent emails frequently have spelling and punctuation mistakes in their correspondence.

Is the email address of the sender accurate?

Always check the credibility of the sender because fraudsters using phishing attacks frequently pose as reputable organizations.

Phishing emails frequently contain similar text, logos, or email addresses.

Does the sender ask for your personal information or to confirm your credentials?

Most banks won't ever ask you for your log-in information, personal information, or to send money via email, phone, or any other method.

Using social engineering

Social engineering is the practice of psychologically tricking people into disclosing their personal information.

Another technique fraudsters employ to get information from victims is social engineering. Social engineering uses psychological trickery to persuade people to divulge private information or commit security violations.

The basic tactic used by fraudsters to get their way around your common sense is to convey a false feeling of urgency in their communications.

Using social engineering, criminals can deceive victims into moving a big sum of money to accounts they control in order to commit payment fraud. Once the transfer order has been sent, real-time payments are almost irrevocable, thus fraud victims cannot cancel them.

Such attacks are distinguished by the offenders' use of social engineering and their impersonation of reliable organizations.

Payment fraud frequently takes the following forms:

You can receive a call from a scammer pretending to be from the organization you trust, telling you to transfer money right away to another, "protected" account since you have been the victim of fraud.

Your school, bank, or accountant's email account might send you an invoice with a recognizable logo and formatting that asks you to transfer money to an unidentified account.

You can get "personal" communications from fraudsters posing as your relatives or friends asking for instant assistance in exchange for money.

How can you help?

Similar to phishing, the best way to protect yourself against social engineering is to be watchful with any online communications you have.

Never divulge private information, including login credentials or personal information.

Deal with unfamiliar and unverified calls asking information with caution. If you do receive calls of this sort, use the utmost prudence. You should be more wary of a caller the more pressure they exert.

How to prevent scammers from accessing your info

Fraudsters can attack through a variety of channels, putting your identity at danger if any of your used entry points are not completely secure.

Accessing your data typically involves:

Notices of security threats

Fraudsters frequently demand particular log-in details such a username, password, and personal contact information.

Avoid responding to the alert by clicking any links or entering your credentials or personal information.

Phone scams

Typically, con artists pose as representatives of organisations you might trust.

Some of the warning signals of scam calls include:

• Signs that there is an issue with your profile or account
• A request for personal data to safeguard your account
• To transfer money to a "protected" account, please.
• Hanging up is the best defence against a scam call. Call the institution directly at the number listed on their official website if you want to be sure your account is secure.
• If a person claiming to be from a bank ever asks you for this information, get in touch with the bank via their official website.

On social media

Scams on social media are getting more and more common as we disclose more of our personal lives online.

Fraudsters can steal your sensitive personal information and use it to perpetrate identity fraud by looking at your publicly accessible material and/or becoming friends with you.

This is why it's crucial to take precautions to keep your social media accounts secure at all times.

These precautions include making sure each account has a special set of login credentials, logging out of the account when you're finished using it, and regularly checking account settings and the audience you are sharing with.

Malware

Malware is software that is intended to infect consumer devices in an effort to steal personal data.

Malware is used by hackers to access other platforms by impersonating you by scanning through the data on your device.

Always lock your devices, log off of platforms, and close browser windows while not in use.

Avoid downloading anything unfamiliar and clicking on suspicious links because doing so could result in the installation of malware on your system.

Ransomware is another sort of malware to be on the lookout for.

With this software, scammers are able to assault, lock, and encrypt the victim's files before demanding a payment to unlock them.

Happy Investing! 😉