8 Dangerous Online Scams To Avoid

Falling victim to online scams can negatively impact your mental and emotional health. They’re financially crippling and can drive you into debt issues. Some scam victims feel ashamed and embarrassed, usually blaming themselves. This can have a lasting impact on their internet confidence.

Understanding the common online frauds helps you identify them with ease and find ways to stay safe from them, safeguarding your personal and company data and finances.

Discussed below are eight common online scams.

1. Dating And Romance

Also known as catfishing, Dating and romance scams usually happen via online dating sites and may also utilize email or social media to contact you. Scammers typically create fake online dating profiles meant to lure victims in. They can also use fictional names or take on false identities of trusted persons like aid workers, military personnel, or other professionals.

Catfishing scammers usually express their intense emotional connection with you within a short span. They may even recommend that you take the relationship away from the site to a more private space, including instant messaging, email, or phone.

They can do whatever it takes to gain your trust and interest, like sending you gifts or showering you with loving words. Upon earning your trust and lowering your guard, they ask for gifts, money or credit card, or banking details.

Dating and romance scammers can also be risky for your safety as they may be part of a criminal network. Their dating site profile and that on their Facebook are usually inconsistent.

When looking for a potential love interest on a dating website, consider looking into their criminal record to ensure your safety.

2. Phishing

Phishing is a cyberattack that uses disguised emails as a weapon. They use social engineering strategies to trick email recipients into trusting that they need the message.

A phishing email can trick you into giving out sensitive information, including a user name and password that the attackers use to breach an account or system. It might come as a request from the bank or someone in the company to download an attachment or click a link.

The scammer sends an email including a link that, once clicked, leads to a website that seems legit. If you enter your details, they access and use them to access your accounts. Phishing emails can also get you to infect your computer with malware.

Learn to spot these emails and always be careful about the links you click to stay safe from phishing.

3. Identity Theft

Identity theft occurs when someone uses your personal or financial data, including your social security number, credit card, bank account, and medical insurance, without your consent. Your stolen information can be used to commit crimes, apply for new credit cards in your name, rob your tax refund, shop with your credit card, etc.

To protect yourself against identity theft, keep Medicare, Social Security cards, and financial records in a secure place. If you want to get rid of the documents, get them shredded or block out the account details using a permanent marker.

Use strong passwords and multi-factor authentication when logging into your online accounts to protect them from hackers.

4. Online Shopping Scams

Online shopping scams usually involve scammers passing themselves off as legit e-retailers. For example, they might fake ads on a genuine retail website or a fake website.

Online shopping scammers use the latest tech to create fake sites that seem like genuine e-commerce stores. Their domain names resemble authentic retailers, and their layouts and designs are sophisticated. Most of these websites sell luxurious items at meager prices. Their mode of payment could be a preloaded money card, wire transfer, or money order.

Online shopping scammers can also build fake online stores through social media platforms. A legitimate retailer website should have a returns and refunds policy and secure payment service and shouldn’t ask you for an upfront payment, helping you avoid online shopping scams.

In addition, it could be a scammer if a retailer doesn’t provide enough information about their terms and conditions of use, privacy, contact information, or dispute resolution.

5. False Billing

A false billing scam asks you or your company to clear fake invoices for advertising, domain name renewals, directory listings, or office supplies you never ordered. For example, it could be a scam if you get a phone call or an invoice from a publication or directory you don’t know confirming your advertisement or entry.

To safeguard yourself or your business from false billing scams, don’t agree to business proposals on the phone and get everything in writing.

Always confirm whether goods or services were ordered and delivered before honoring any invoice. Consider limiting the number of people authorized to make orders or invoice payments.

If your vendor’s bank account details change, confirm it with them. Maintain written authorization records for your directory entries and advertising and confirm with them each time you get a call or invoice to pay.

6. Hacking

Hacking happens when scammers use technology to break into your mobile device, computer, or network, gaining access to your data. Hackers exploit security weaknesses, including easy-to-guess and reused passwords, unsecured Bluetooth and Wi-Fi connections, and outdated antivirus software.

Some hacking methods include malware that misleads you into installing software scammers use to track what you’re doing while accessing your files. Ransomware seeks payment to unlock files or computers.

You may also experience payment redirection scams where scammers pose as your regular vendor and tell you that their banking details have changed. Your device could be hacked if you’re unable to log into it, have moved or deleted files, have money missing from your bank accounts with no explanation, etc.

Use antivirus software and a firewall to ensure your computer security, avoid using public Wi-Fi and ensure your passwords are hard to guess.

7. Investment Scams

Investment fraud happens when you’re tricked into investing your money in something that doesn’t exist. For example, scammers might convince you to invest in stocks, notes, bonds, currency, commodities, or real estate. These fraudsters seem friendly, charming, and intelligent.

The most common investment scams include cryptocurrency, romance baiting, celebrity endorsements, Ponzi schemes, investment seminars, and superannuation.

To identify an investment scam, look out for low risks and high ROI promises, people contacting you out of the blue, people you’ve never met offering you investment advice, convincing promotional materials and websites, or asking you to deposit funds into various accounts for every transaction.

To avoid investment fraud, get professional investment advice, research, and consider avoiding unsolicited advice or approaches from strangers purporting to help you in your investment journey.

8. Remote Access Scams

Remote access scams, also called technical support scams, involve fraudsters contacting you over the phone pretending to be from a computer or telecommunications company. They can even purport to be from technical support providers.

These scammers will tell you that your computer has a virus or has been sending error messages, and they need remote access to the device to fix the issue. They can even ask you to buy a service or software you don’t need to solve the problem.

To safeguard yourself:

1. Never give remote access to your device to any unsolicited caller.
2. Avoid sharing your online account or credit card details unless the caller is from a trusted source.
3. Consider hanging up on people who call regarding your computer and requesting remote access.

Endnote

Online scams can leave you mentally, financially, and emotionally broken. Familiarize yourself with the common scams and find ways to protect yourself from online fraud.

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