Protect Yourself from Scams

Do you ever wonder why we frequently cover scams in Blog posts? Simply put – they aren’t going away. In fact, online scams are on the rise. With so many criminals and so many targets, we can’t afford to become complacent.

Let’s review common ways that scammers work behind the scenes to get their hands on your data.

Phishing

Fraudsters often send “phishing” communications designed to con you into giving away your information. These messages mimic a legitimate source, but here are some clues to stop them in their tracks.

·         Pay attention to the spelling and grammar of any message that you receive. It may also help to read it out loud. If it doesn’t make sense, consider that a huge red flag.

·         Double-check the sender’s email address. I’ve repeatedly talked about how important it is to look closely at the domain address of any email that you receive. You can read my post, “Outsmarting the Scammers” for a more detailed look at domain names.

·         You can hover over a link to determine where it leads. When in doubt, don’t click on any links inside of the message.

COVID-19

Scammers are busy creating new ways to target their victims. Since the world has been impacted by the coronavirus, the scammers are quick to refer to covid. It has become one of the most commonly used methods of stealing information.

Here are some of the ways they try to scam you:

·         Want to see how hard your community is being hit by the pandemic? There’s an app for that. Don’t download it though because it’s probably infected with malware to steal your information.

·         Did you get vaccinated and want to share the good news with the world? Think twice before you post. Posting a picture of your vaccination card on social media will give criminals access to more than you bargained for.

·         Want to help support people who are suffering financially from COVID? Donate to the cause and you may be giving to a scammer. Fake charities or businesses are all over the internet. Before you give, do your research into the validity of the recipient. Remember – there is no cure for COVID-19.

·         Oh, you just received a call about your next government stimulus check? Not so fast – there’s no plan in place for more direct stimulus payments being sent out. While there are still relief efforts being made, any calls or communications about direct payments – particularly in odd amounts – are not legit. You can follow all of the real government relief efforts (including the Advance Child Tax Credit payments) by visiting your state’s website on coronavirus. For federal relief information, visit https://www.usa.gov/coronavirus.

Prevent identity theft by being proactive.

·         Use secure networks to access the Internet. Is your WiFi password protected?

·         Never give out your personal information – ESPECIALLY BANKING INFORMATION. Your bank will never ask you to provide your online banking ID and/or password over the phone.

·         Verify the sender when in doubt. Don’t respond to questions asked over the phone unless YOU initiate the call. You can call a known, published number for any entity that contacts you.

·         Check your bank account regularly. Set up purchase alerts on all of your credit and debit cards to watch for unauthorized transactions.

·         Pull your free credit report to check for fraudulent accounts. You can stagger your credit reports throughout the year to always stay on top of them.

What strategies do you use to keep your identity safe? Comment below or email me.

Krista Kyte is a personal finance blogger and personal banker with over 18 years of experience in the financial industry. Krista is passionate about helping our members understand their financial situations. She writes tips that will help consumers reach and maintain financial security, and start living the life they’ve always wanted.