Our Financial Experts' Top Tips to Avoid the Latest Money Scams
As the internet continues to rapidly change, online scams are evolving right alongside it. Online scams are attempts to stealthily trick you into giving away valuable information, such as your credit card information or Social Security number. As people become more internet savvy, scammers are forced to get more creative and aggressive.
Keeping yourself safe from online scams requires adding some tools to your digital toolbox. However, you should never underestimate the power of general education and awareness around online safety. This article will lay out some of the basic guidelines for keeping yourself and your loved ones safe from online scams.
Common Types of Scams to Watch For
Phishing:
Phishing scams usually appear as fake texts or emails posing as your bank or government agencies, especially when they include links requesting you to click. Real institutions will never ask you for sensitive information online.
Marketplace & Payment App Fraud:
These scams can occur on Venmo, Zelle, or Facebook Marketplace. They often involve fake listings for products or services and are attempting to get you to pay for something.
Urgency Scams:
This scam involves someone claiming to be an associate or person you know demanding immediate funds. They will pretend that there is a time-sensitive issue, so that you might panic and have less time to realize it’s suspicious.
Our Expert Advice: How to Avoid Being Scammed Online
The biggest rule of thumb to avoid being scammed online is to never click on unsolicited links in your texts or email. Verify any claims or requests through official channels and portal logins. When in doubt, just give your bank or provider a call; they’ll be able to verify whether a request is real or a phishing attempt.
There are some technology tricks you can implement to further protect yourself online. Using features like multi-factor authentication and biometrics like facial recognition or fingerprint will make it much more difficult for scammers to obtain your information.
Finally, take a second to pause and think before you take any action. Scammers rely on urgency — taking five minutes to really consider how legitimate a request is can save your account and information.
What to Do If You’ve Been Targeted
If you believe you’ve been targeted by an online scam, you should immediately freeze your accounts and change your passwords. Next, you should contact your financial institution and notify them of the situation. They’ll be able to help protect your accounts.
As the online world grows, scams have become more and more prevalent. To protect your assets, identity, and loved ones, you need to take precautions when navigating technology. The best security is a partnership between you and your bank. If you notice suspicious activity or have questions about your account security, contact us today