If you’ve noticed an increase in suspicious emails flooding your inbox over the past year, you are not alone. According to the FBI’s 2020 Internet Crime Report, there were 300,000 more complaints of internet crimes (such as phishing, non-payment/non-delivery scams, or extortion) in 2020 compared to 2019. While it may be easy to avoid obvious phishing attempts, online scams are becoming more sophisticated and harder to detect.
Listen to your gut.
Most of us are familiar with obvious scams like being asked to provide your bank details in order to claim foreign lottery winnings, or hearing from princes in foreign countries seeking assistance in transferring fortunes away from rebel forces. While these blatant attempts can sometimes be amusing, the risk is real and often more subtle than we think.
If something seems off or suspicious about an email, text message, or website, trust your instincts and utilize the tips below to safeguard yourself from online scams.
Keep your devices up to date.
Keeping your software, browsers, and operating systems up to date can help protect your computer from malware, viruses, and other harmful software. Make sure to enable automatic updates on your devices to ensure you have the latest versions available.
Check your credit report quarterly.
We recommend checking your credit report regularly for overall financial well-being, as well as to ensure that no one is using your bank or credit cards without your authorization. Monitor your report frequently for any unusual transactions or fraudulent activities.
Remember, you can request a free copy of your credit report from each of the three major credit bureaus every 12 months, and until April 2022, you can access your credit report weekly due to the COVID-19 pandemic.
Be cautious on social media.
We have all inadvertently shared more information than intended on social media platforms. While this may sometimes lead to embarrassing oversharing, hackers often leverage that personal information to gain access to your accounts and passwords.
Avoid responding to posts that prompt you to disclose details like your favorite color, first car, or birth month. Scammers use this information to potentially guess passwords. Be sure to maximize password and security settings on your social media accounts, browsers, and internet modems.
Avoid public wifi.
Exercise caution when accessing websites on public or unsecured wifi networks. Refrain from logging into sensitive sites like your bank that could expose valuable information or passwords to hackers.
Consider using a password manager.
Password managers securely store your website and account passwords using encrypted databases. By using these tools, you only need to remember the password for the manager, as the software handles the rest. Password managers can also suggest strong passwords for new accounts to reduce the risk of hacking, and they often have features that alert you to phishing sites attempting to steal your data.
Avoid clicking on links.
It is unlikely that your bank or financial institution will request sensitive information like passwords or account numbers via email without prior communication. Exercise caution when receiving unexpected emails, scrutinize for any discrepancies before clicking on unfamiliar links. If in doubt, access the official website through a new browser window or search for the customer service number.
Protect senior citizens in your life.
The U.S. Senate Special Committee on Aging reports that senior citizens lose approximately $3 billion annually to online scams. Educate seniors on the dangers of sharing personal information via email or phone, as individuals claiming to fundraise for charities may be deceitful.
Too good to be true?
Remember that if an offer sounds too good to be true, it likely is. While excessive paranoia is unhelpful and stressful, exercising sound judgment, scrutinizing for irregularities, and closely monitoring your bank statements and credit report are effective ways to shield yourself from online scams.
