Stay vigilant about fraud

Source: pixabay.com

Social engineering and attempts to get you to disclose personal information that will facilitate financial fraud are rampant and even include creative attempts at Covid-19 tax refund schemes.

FICO shares advice on how to prevent the bad guys from profiting from the panic. Some of these tips will be familiar, but they’re worth a reminder, and you might want to pass them on.

• Do not click links or open attachments from people you don’t know. If a company is sending you an email to advise you of their coronavirus response, Google the company’s name to navigate to their website where the information will likely be cross-posted.

• Talk to your loved ones and assure them you are safe, and what your plan would be to reach out if you needed help. Grandparents and others can be tricked into sending payments and draining their savings – don’t let them be.

• Bear in mind fraudsters may be going door to door for scams such as disinfecting homes to gain access to a home, double-check their legitimacy during this time of social distancing.
  

  Be wary of phishing messages during Covid-19 lockdown

  30 Mar 2020

• Be aware of pandemic related scams such as buying face masks, or fake funding sites purporting to be collecting money for people that have lost their jobs.

• If you are buying goods online, be careful of the seller’s legitimacy. When in doubt, Google the seller’s name + the word “scam”. If it’s a phone call, Google the number + the words “who called”.

• Think about how you want to pay for orders and use a trusted mechanism - such as a credit card - which generally provides more protection. Be wary about making payments using wire transfers or bank transfers as if you are a victim of fraud it will be difficult or impossible to get your money back.

• When trying to contact a company or your bank, only use the contact information you have found from a reliable source. For example, if you get an email that looks like it is from your bank don’t check by calling the number in that email but rather look on the bank’s website or on your bank card.

Scammers rely on creating a false sense of urgency, and the current situation is making us all more vulnerable to that. Be cautious about responding to any offer where there is undue time-related pressure.