BY David Oputah
The advent of the Internet as a means of transacting business has undoubtedly increased the ease and pace of financial dealings.
But with this significant technological leap has come the baggage of Internet fraud — in the form of identity thefts, malware injections and fraudulent transactions through e-mail, smartphones, websites, and chat rooms.
Here are 12 ways to avoid falling victim.
1. INVESTIGATE, INVESTIGATE, INVESTIGATE
Make online verifications of the email address and name of the sender of a financial email to see if they have been identified as belonging to a scammer. Investigate their profiles on other social media platforms. Research the person to death!
You may use a WHOIS domain look-up to see the possibility of gleaning any information about this person. Many times, this will isolate pseudonyms or company names that can be used for further research. Be aware that scammers can and will use fake ID’s trying to come across as trustworthy.
2. DON’T UPDATE YOUR FINANCIAL INFO ONLINE
It’s called phishing! Do not reply any email asking you to update your ATM/debit card details or PIN — forget how official these requests come across. This is probably the oldest-known scamming technique still in vogue.
Here e-mails purportedly sent out from well-known institutions and social networking or payment sites are used to extract sensitive, personal information such as passwords and credit card details.
These mails could also carry links to infected sites, so it is dangerous to click on hyperlinks in such emails. Pay special attention to the email address of the sender.
Do not share your PIN or passwords with anyone, because no financial service company or staffer will ask for your entire card details and PIN via email.
3. FIND OUT IF YOU’RE DEALING WITH A HUMAN — OR A COMPUTER PROGRAM
Never transfer money via online services to people you don’t know but you have only just met online. Never send any personal details such as copies of your passport and ID to people you don’t know.
If you must send such info online, ask the recipient to take a photo holding up a piece of paper with your name (hand) written on it in order to avoid fake photos and prove that you are actually dealing with a human and not a computer program.
You can ask to get in touch via Skype and have a face-to-face video call, as scammers usually refuse to connect in this manner. Transfer money only after you have made confirmations via other physically-traceable channels, and there are no suspicions.
4. VERIFY THE SECURITY OF THE SITE
In case you send money via the Internet, only use secure payment services. Some of them, including PayPal, allow you to reclaim your money in the event that you do not receive the service you paid for.
When logged on to the payment portal, before entering your card details, always confirm that the web address/URL itself begins with https://www..com/ or https://m…com/ (for mobile) and that the secure padlock icon is present before going ahead.
5. UPDATE YOUR ANTIVIRUS
Keep your antivirus software updated and run complete virus scans regularly to avoid infected sites. These are the sites that are not legitimate and have malicious software to hack your personal information.
A lot of such infected sites come up during festive seasons, when people are naturally likely to be involved in online purchase of gift items. Hackers build these sites using popular search items.
Another variation of infection is legitimate sites that get heavy traffic and, hence, are injected with ads and images that have viruses. A good way to avoid these is to visit familiar, popular sites only, and to install ad blockers on your browser.
6. WHEN SHOPPING THE PHONE, CAUTION IS THE WORD
Mobile devices make shopping more convenient, but they often lack protections such as antivirus software.
Consider avoiding entering your payment information on a phone and use big retailers’ apps, which often come with extra security.
Also, be very careful about the apps that you download on your phone. Android and Apple phones are particularly vulnerable to fake apps in their stores, and these can introduce malware that extracts data from your phone.
To avoid fake apps, check the users’ review about the game or app before downloading them. You can also visit the developer’s website to retrieve more information about the app before zeroing in on it.
Another safe option is to go for the most downloaded apps or those that come with the ‘editor’s tag’. Avoid the apps that are ‘paid’ but are being offered for free, or ask for too much information.
7. BEWARE OF PHARMING
This term refers to the process by which a hacker secures a domain name for a site and then uses it to redirect this site’s traffic to another bogus website.
It can compromise serious information and cause heavy losses if the site being copied is that of a bank or taxation department. It can also be used to steal passwords, PIN or account numbers.
If a website suffers from poor design or multiple pop-up windows, it might be an illegitimate retailer. Before going ahead, test their customer service email or phone number to confirm their legitimacy.
If you don’t get a response, it might be a warning sign. If you get a prompt and friendly response, you can then proceed to other checks.
8. YOU ENJOY USING FREE WI-FI? BE CAREFUL
If you use a public Wi-Fi connection, such as at airport terminals or coffee shops, to log into your account, you stand the risk of having your password and private information hacked.
The hacker can also access your browsing history. This is especially true if you save the password to your account. If you are using a smartphone to access your account, attempt using the 3G or 4G connection, as it is more secure.
9. SCRUTINISE JOB OFFERS REQUIRING PAYMENT OF FEES
There are two variants of employment fraud. The commoner one involves job offers by recruiters that require you to pay an advance fee or make a deposit, without the job ever materialising.
The second one typically offers you the job of a ‘representative’ of an overseas company and your task is to collect customers’ deposits in your account and remit most of it to the company abroad.
In doing so, you could not only be a victim of identity theft, you could also have money stolen from your account. Avoid any such offers without verifying the company and do not give out personal information.
10. USE STRONG PASSWORDS
Retail sites often ask for passwords at checkout. Using the same password across multiple accounts, including financial accounts, can leave you at risk for password break-ins.
For important accounts, use only secure passwords that are long and difficult to guess. Use upper and lower cases with symbols and avoid using your names or guessable passwords.
11. ALERT ON TRANSACTIONS
Reviewing credit card and bank statements on every transaction can help you detect any errors, as well as the first sign of potential fraud.
If any charges seem incorrect, let your card company or bank know. This is only if you receive alerts of transactions on your mobile or your email address.
12. FINALLY, WATCH YOUR GREED!
Watch your appetite for gain. You cant expect to win a lottery when you never partook in any. Scammers succeed often times because of the victim’s greed.
Use your common sense and trust your gut feeling. If someone offers to sell goods at an extremely low price, be careful. Jumping at such offer could spell doom.
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