Be aware of these types of scams
As consumers and business rely more on Internet, criminals realize that it offers an excellent opportunity to commit fraudulent acts, such as the Monzo scam. Cyber criminals are always coming up with new methods to steal money, whether it’s through computer viruses, email fraud or financial fraud.
Online fraud can be incredibly dangerous and costly for ecommerce companies. But there are a few important things to keep in mind when it comes to preventing and reporting fraudulent activity.
Check overpayment scam
Businesses should be on the lookout for a new variant in the check overpayment fraud. This scam involves a buyer making a purchase through an online classified ad or online and then asking the seller to wire back the rest of the payment to another party. This request may seem strange, but it is possible to avoid being a victim of this scam by following certain safeguards and knowing the signs.
This type of fraud is particularly dangerous for digital merchants, who may never meet their customers face-to-face and are more likely to fall prey to this type of scam. The best way to safeguard your business is to educate employees on fraud types and how to recognize red flags.
To protect themselves from fraud companies should always insist that checks be deposited directly in the bank account of the company. Additionally, businesses should never forward any payments to a third party, whether by check or by credit card. It is also important to report fraud incidents to the local police and government authorities. This can help local authorities identify trends in these crimes and track down perpetrators.
Pre-approved loan scam
In a personal loan scam, fraudulent lenders try to trick borrowers into paying upfront charges that they do not intend to return. These fees can be for insurance, processing or even an applicaiton fee. Remember that reputable lenders do not charge fees for loans. If you receive a call from a lender who asks for a prepaid debit card or other type of payment, it is likely a scam.
It is important to be skeptical of any lender who says they can guarantee a loan regardless of your credit rating. Legitimate lenders always check the borrower’s credit history before offering a loan. If a lender promises you a loan without checking your credit, it’s likely a fraud.
Homeowners should also be on the lookout for fake loan modification packages. These packages include a letterhead that looks similar to a lender and may contain borrower’s information. The package may then ask for a reinstatement fee, trial payment, or another form of payment. These payments are made using cashier’s checks, wire transfers, GreenDot MoneyPak or other methods that are difficult to track. Homeowners should also consider filing a fraud report with their local law enforcement agency.
Many people have fallen victim to this scam and lost thousands of dollars in the process. Some of these scams have even cost families their homes. In addition, victims were left with bad credits and no way to repay their debt. If you think that you have been the victim of a loan scam, it is essential to file a complaint with your local law enforcement and agencies specializing in oversight.
Retail website scam
Online shopping is now a major part of our lives. However, this growth is not without its risks. Fraudsters are using more sophisticated methods to steal our personal information and money. As a consequence, we must be vigilant to avoid these scams.
Checking if the website you are visiting is legitimate is one way to protect yourself. Google can tell you much about the security and legitimacy of a site. For example, a genuine site should have a secure SSL certificate. A website map is also recommended. Scammers will be more likely to create fake sites with a secure URL. It’s worth doing some research before you make a purchase.
Social media sites are used by many fraudsters to target consumers. They post ads that appear to be from real brands, but are actually fake online stores. The fraudsters steal the credit card numbers of unaware consumers and buy the goods on their behalf. Usually, the goods stolen are cheap knockoffs which don’t even resemble the real thing.
Other types of fraud on the internet include lottery scams and phishing. In the latter scam, criminals hack a dating app and build trust over time before asking users to send money or their personal information to “claim their prize”. Some victims of this type of fraud are not aware that they are being targeted.
Fake emails are also a common form of internet fraud. These scams pretend to be from banks or other organisations that people trust, such as HMRC or PayPal. The emails instruct the victim to log in to a fake site using their account information. The fake site is designed to look just like the real one, so it’s easy for the victim to be fooled.
Email scams use phishing to trick victims into disclosing personal or financial data, downloading malware, or sending money. Attackers can cast a wide net by mass mailing thousands of people or be more targeted and select specific targets, such as high-profile employees at a target organisation. They can also steal the victim’s legitimate login credentials which will give them access to online accounts, devices and corporate networks.
There are several characteristics that indicate a phishing email. First, it’s important to check the ‘from’ email address, as scammers often spoof this to make it look like they’re from a trusted organisation, such as a bank or credit card company. You should also check the email address – even a single difference in character can reveal if it is not genuine.
Another characteristic of a phishing email is that it often includes a link to a website, usually claiming that the victim’s account needs to be logged into in order to prevent the account from being closed. The website that’s linked to, however, is a bogus one, and it usually requests sensitive information or downloads malicious software on the victim’s device.
As soon as email became popular, criminals began to abuse it to gain access to people’s information and to take advantage of their trust. Since then, attackers use a variety of strategies to bypass email defenses and trick recipients into divulging sensitive information or running malicious codes. As a result, it’s crucial to train your staff on the latest phishing tactics and keep your antimalware and antivirus software up-to-date so it can detect emerging threats before they reach your endpoint.