Take Control of Your Digital Life, Save Yourself from Scams

Since the outbreak of the Covid-19 pandemic, scams or have proliferated in a big way to defraud people across the globe.

The rapid adoption of digital payment gateways and tech-savvy culture has made us more vulnerable to online scams.

The 2020 Global Identity and Fraud Report by Experian states that losses incurred by scams, phishing, and other fraudulent activities increased from 51% in 2017 to 57% in 2019.

Wonder what is making us more prone to these fraudsters?

Please read on:

The Scamdemic Era:

Scammers scored a jackpot during the pandemic. Opportunistic scammers cashed the opportunity out of pandemic’s fear to commit even more fraudulent activity.

Fraudulent charities, phishing, luring emails and bogus community rewards were among common scamming tactics that defrauded Americans of $145 million during the pandemic according to the Federal Trade Commission.

Changing shopping habits facilitates a fresh ground for scammers. The transformation of the e-commerce landscape is another reason which makes it even easier for scammers to make fraudulent transactions on your behalf.

From dating apps to transportation, food delivery, hotel rentals, flight bookings to shopping grocery, every sphere of our life is revolutionized by the advent of digital channels, especially the use of mobile applications drastically increased throughout lockdown and quarantine periods.

Fraudsters have used this tendency to lure and seduce victims with huge discounts and lucrative offers.

On top of it, unclear data privacy and protection regulations that vary across regions, have made it easy for scammers to commit cross-border scams.

Falling in love with a scammer can cost you more than you could imagine.

Dating or romance scams are also on the rise, all thanks to country-wide quarantines that forced people to spend more time on the internet.

In 2020, the cost of romance scams totaled at least $304 million, and these stats might be even higher as most of these scams are unreported.

According to the Federal Trade Commission, many victims of romance scams chose to remain silent rather than facing the embarrassment of coming forward to report against these scams.

“May I help you” kind of scammers and business impersonators scammed around 96,000 people last year.

A phony business representative would call you about suspicious activity or unauthorized purchases from your account and would obtain your account or credit card information, leaving you in regret and financial ruin.

Related Blog: Increasing Situational Awareness Important for You?

How to safeguard yourself against online fraud and scams:

✓ Never answer calls from unknown numbers or respond to texts, emails, or social media messages coming from an unknown person.

To avoid any danger block unwanted calls and suspicious messages.

✓ Never share your personal or financial details with anyone pretending to be a business representative. Banks, e-commerce stores, and other legitimate organizations would never call you and ask for your details.

✓ Never click on a link received on text or social media messages, it might be a phishing attempt by scammers.

✓ Never fall for lucrative offers and discounts which derive from inauthentic or unknown sources, rather than relying on information from social media or search engines, go directly to a company’s website if you have a query about its business or its products.

If your instincts tell you something doesn’t feel right, a website or strange text or phone call seems highly suspicious, or you have already fallen victim to a scam, please contact Cannon Security for a better understanding of risk assessment and security consultation for a safe approach and to prevent this from happening in the future.

We can help you in creating a reliable security environment by evaluating and assessing your threats and vulnerabilities.