ONLINE scams, What are they basically?
In this time when the world takes the leap to online transactions whit health authorities getting wary about consumers getting the virus through the physical money they are getting, digital online transactions seem to be the best way forward.
The direction has also triggered the dawn of online scams, victimizing the gullible, especially those who want to get rich quickly and are too lazy to work their butts off.
With this, Bangko Sentral ng Pilipinas in Central Visayas brings the information to Bohol its campaign to advance consumer consciousness, especially on online scams.
PHISHING
Phising, is basically fishing for your information, so that fraudsters can use them even without your knowledge and do whatever they want to your bank account, or e-wallets.
It is an internet analogy that scammers use to lure people into revealing their passwords, and other financial data from the ocean of internet users.
It usually comes in your email that looks like it comes from a legitimate company, asking you to click on a link.
This email, if you will notice is made to appear like your financial institution website, but the link itself, is not the link to that institution’s website but to a fake website.
When you see this, do not click on the link, as doing so would bring you to the fake website which may infect your PC with malicious software (malware) which would threaten the security of your PC, coded to extract your personal information of simply delete your files, unless you pay for a systems upgrade.
Once you click on the link, it is almost always easy for the fraudsters to hack or copy your information, withdraw money from your personal accounts using cloned and fake credit cards.
To cure your PC, somebody would asked your credit card number to pay for a supposedly antivirus, to be accordingly installed in your PC, or you would be asked of your online banking password or your credit card’s one-time-pin (OTP), which, when given, allows the fraudster to debit money from your accounts, explains Bangko Sentral ng Pilipinas Bank Officer V Greg Baccay.
Phishing can also come in other methods like mobile phone text messages or in this case is SMShing, chat rooms, message boards, mailing lists, fake job search sites, job offers and fake browser toolbars.
TO AVOID THIS:
Experts recommend that you triple check on the links. These might sometimes appear legit, but a misspell or a weird extension in the link can reveal its being bogus.
SPOOF, FAKE SITES
These are websites that appear to be legitimate, but on scrutiny, does not pass muster. These sites are designed to trick users into clicking them and giving out ether kept personal data that could be useful in exacting withdrawals from deposit accounts or data for a clone of one’s credit card.
TO AVOID THIS:
Verify the legitimacy of the website on the link, check for spelling errors, are special characters placed in lieu of letters, verify the legitimacy of these websites or pages, do some research, read reviews of this site, and understand what you read, before letting go of the money.
DONATIONS AND CHARITY SCAMS
This type of scam puts up fund-raising activities for a fake charity or donation drives that take advantage of the innate goodness in people, but in reality, the money raised fattens the pockets of those who initiate the drive.
While there may be some charity drives that are legitimate, there are also ones that are fraud.
The usual modus is to send an SMS to your contacts or relatives on mobile or facebook and introduce themselves as the person in an accident or a relative, asking for help as the victim allegedly needs immediate surgery.
TO AVOID THIS:
Research and het to know more about the charities you wish to donate to.
If it happens on facebook, verify the story by messaging close relatives who can confirm the truth of the claim. Hackers simply clone the original accounts and may be very insistent. If you want to give, request for a video call, or hand it personally to the person so you will know where your money went. This way, you can also keep the internet from saving your used passwords or OTP.
IMPOSTOR SCAMS
Here, the scammer pretends to be someone you trust to convince you to send money. The person impersonates the company you do business with, banks, government agencies, or even threaten you into believing they are terrorists.
The exchange goes into a tempting offer of maybe a higher credit cap, but that would only be effected if you send in your personal sensitive information like bank account number, OTP or even personal data, which can be a lead in your password.
TO AVOID THIS:
When someone asks you to send a big amount of money because of emergencies, verify first. Check out your common friends associates and verify for the truth.
Create strong passwords for your accounts. A string password contains a witty combination of alpha-numeric symbols and special characters in uppercase and lowercase. And never share your password to anybody.
INVESTMENT SCAMS
This involves getting you or your business to give your money for too-good-promises of returns and financial opportunity.
In cases like this, offering you a return of investment that is way above the usual bank offer is already an indication of a scam. Learning about Ponzi Scheme can also be a good start, as Ponzi and multi-level marketing schemes are sure signs.
TO AVOID THIS:
Always ask for Securities and Exchange Commission –issued authority to solicit investments from the proponents. A SEC membership is different from permit to solicit investments.
Double check on the returns and the benefits of the investment offered. Scammers lure people with too good to be true incentives.
BEAT SCAMMERS
With all these, BSP reminds people who are now graduating to digital payments to make sure they have a basice working knowledge of how the system works.
While this step into the world wide web, first thing is to create a strong password.
While most gadgets use a default 1234 password, experts said a strong password should contain a good combination of letters and numbers, some special characters and marks that are not easily associated to trhe person’s personal details like birthdays, parents names and the like.
Then, protect that password, they said.
Protecting the password may mean making sure one properly logs out of a computer after use, especially if that is gadget is for public use.
That would also mean checking out the automatic password fill, or forget password after using the PC.
Third, opt for Europay, Mastercard, Visa enabled card, one with the electronic chip than a magnetic strip that can be easily skimmed by a closing devise.
An EMV card has also several advance features that use a radio frequency identification system that could be read as long as the card is within the frequency, so that swiping the card into a point of sale dock may ne unnecessary.
And do not get the card off your sight.
Experts said a credit card contains in the back an OTP, which is that code that acts as password for all transactions using that card. Giving the card to a teller or a cashier will keep you from knowing if the card is mis-used. (rehc/PIA-7/Bohol)
