Today telecommunications is a necessity but it is also greatly susceptible to online fraud. Fraudsters have devised ingenious ways of scamming and tricking people into losing their money. According to FFA-UK in 2015, financial losses in the UK amounted to £567.5 million — this was an 18% increment from the preceding year where the total losses on the cards were £479 million. Even the past trends show that there has been a significant growth in credit card fraud volumes. However, it is the online E-commerce frauds that have reached gigantic proportions presently. Phishing is another arena in which the scammers have excelled tremendously, causing organizations to lose $4.5 billion all across the globe in 2014.
1. Detection of Spamming Mails
Beware of online con artists and spam mails that promise you making high returns on really small investments in a short amount of time. Scepticism will definitely save you from losing money to fraudsters — never trust an email that targets you making claims of fast cast. Use your common sense next time you get an email that says: “Make £10000 in just 2 minutes!” Most people think that as long as you don’t specifically download any malware that can steal your personal information, you are safe —but this is not the case. Simply by clicking the links in these spam mail, you are led to a website that automatically downloads such malware designed to steal your credit card information without your knowledge.
2. Receiving E-mails and Text Messages from Banks
Just be absolutely certain of the fact that your bank will never send you an email or a text message asking you to share your personal credit card details because of system upgrades. You may also get an email that states: “This is high security alert from the Bank of England. Please click this link (here is a fake URL) and verify your identity by entering your details.” These types of phishing emails are only just trying to send you to a phony webpage to steal your credit card details.
3. Never Trust the Display Name
Cybercriminals absolutely love to spoof the brand names. They will steal the name of the brand using a separate domain name which may find its way into your inbox. Do not trust the domain names and if the email address looks suspicious even in the slightest, don’t even think about opening the e-mail.
4. Look at the Salutation, Grammar and Spelling Mistakes
Banks and legitimate businesses do send out e-mails but then how to differentiate if the email has been sent to you by them and not a scammer? Observe the salutation, such businesses or your bank usually does not send e-mails that address you as a Valued Customer. Banks and businesses that you have interacted with previously generally use a personal salutation. Also, legal brands are absolutely particular about the e-mails they circulate. This is why they will never send an e-mail that has poor grammar or spelling mistakes. Just being vigilant of these minor online scamming activities will save you from seeing expenses in your credit card statements later that you never made.Read More