Mon. Jun 10th, 2024
online fraud

There are several advantages to using the Internet. It simplifies the process of delivering and receiving information more than ever before. However, like with most things in life, it’s not without flaws. Thieves attempt to steal your information through the usage of the Internet which leads to Online Fraud. Often, this entails phishing and spoofing frauds, which are similar to one another.

Phishing (also known as FISH-ing) is a type of internet fraud in which a scammer impersonates a respectable website in order to deceive the victim into providing personal information. In email spoofing, a fraudulent sender attempts to entice you into responding to an email that has been disguised to appear as though it is from a reputable organization. Here Raghib Khan discusses different ways you can avoid becoming a victim of common online fraud. 

Separate your financial data from your personal data

Access the Internet as well as perform non-banking activities on computers other than your own. For business customers, in particular, it is recommended that they use a separate workstation for all corporate banking activities. Remember to back up any sensitive information and wipe the hard disc before discarding the computer that would be used to access business banking when it is time to retire it.

Recognize the person who has inquired before Online Fraud

As a general rule of thumb, banks do not send emails or text messages in which they request personal information, including such accounts and/or social security numbers from customers. As a result, banks will not need you to verify your account details in this fashion. Never send personal information, such as social security or tax identification numbers, account numbers, or username/password information, through email or text message to anybody. If you need to share sensitive information through your bank by email, make sure you send it through the bank’s secure online banking platform rather than using a public email address.

Emails to firms that purport to be from suppliers are also becoming more prevalent. Like fake banking communications, these emails may appear authentic at first glance, but they will ask for critical financial information. If you receive an email requesting you to disclose sensitive financial information, phone your bank or a supplier to double-check the legitimacy of the message before replying.

Examine the website’s address

Examine the website’s address (or URL). Communications from well-known social media networks, online payment processors, and IT administrators are frequently used to entice the unwary public into becoming victims. The web address again for the phishing site may be quite similar to the web address for the legitimate website. In certain cases, it could even contain the address of such a legitimate website, but it may also contain code that redirects traffic to a bogus website.

Website authenticity

Always check to see if the website you’re shopping on is secure before proceeding. Before purchasing on a website, verify if it is protected by secure technology. Double-check that the site URL begins with the letters HTTPS when you’re on the checkout page. Aside from that, look for the presence of a little secured padlock icon on the website.

This may appear to be a time-consuming task that few people undertake, but carefully review the site’s privacy policies. While lengthy and detailed, privacy rules explain how the Internet protects the personal information that it collects from you. If you are unable to view or understand the privacy policy of a web page, you should consider conducting business elsewhere.

Maintain the secrecy of your passwords

Passwords should not be shared, and any papers with access to financial data should not be left in an insecure location. Change your passwords on a frequent basis to provide greater security, and use a combination of letters, numbers, and special characters wherever feasible to ensure maximum protection. Change the default password and SSID of your wireless network, as well as the default password and SSID of your wireless network. Avoid broadcasting your SSID and think about implementing encryption on your network.

There will be no phishing – Online Fraud

Keep an eye out for fraudulent emails. These emails are intended to entice you to click on links contained inside the email in order to verify or alter your account information in some manner. It is common for fraudsters to use links included in emails to infect your computer or device with harmful software (also known as Malware), which they then use to access your email. This Malware may be used to steal personal information from a victim’s computer.

Back up the information on your computer as well as on any mobile devices you may have

Even the most reliable equipment or gadget may be corrupted or crash. Backups to an external hard drive regularly will aid you in recovering your information in these instances. Any electronics store should have these, which can be designed to conduct nightly backups of either a specified set of files or the whole contents of your computer.

When it comes to priceless goods, such as family pictures, use redundant backups by storing them on an external hard drive and a secure cloud provider.

Be aware of identity theft which leads to Online Fraud

Certain sorts of personal information, including such account takeovers, illicit money transfers, and new lines of credit issued in your name, can be used to perpetrate fraud, such as identity theft. This might occur due to Malware on your computer, social engineering, which fools you into providing personal information over the phone or the Internet, or a burglar collecting your mail or garbage to gain access to your personally identifying information and other sensitive information.

Several recommended practices, including destroying critical papers, avoiding strange links and attachments in your email, learning to detect and stop Phishing attempts, and examining your credit report on a regular basis, can help you protect yourself from identity theft.

About Author :

Raghib Khan is the Co-Founder and Director of RNF Technologies, a leading IT services, and product development company. He co-founded several successful companies, including Phonato Studios, FNR Technologies, and Resourcifi. Prior to this role, he worked for AOL as a software engineer, where he was a key member of its e-commerce team. With a particular interest in mobile gaming and product development, he has shifted his focus towards strategy building and creating anti-scam/anti-fraud detection technologies. Raghib has been invited to share his expertise at several tech events.

By Manish