As we enter 2024, it’s important to be aware of the latest online scams so you can protect yourself. Online scammers are constantly coming up with new ways to steal your money and personal information. Stay alert about the most common techniques they use.
Credit Card Fraud
One of the most prevalent forms of cybercrime is credit card fraud. Scammers employ various cunning tactics to get a hold of your card information, so they can make unauthorized purchases or sell the data on the dark web. Phishing emails are a common tactic used in credit card fraud. You may receive an email pretending to be from your bank or a familiar company asking you to update your billing information. The email contains a link to a form intended to steal your financial details. Always verify the sender before inputting any sensitive information.
Skimming devices are an insidious tool used to steal your card data. Scammers install a skimmer on an ATM or payment terminal that reads and stores the data from your card’s magnetic strip when you make a transaction. Cover your hand when entering your PIN to block hidden cameras that scammers may install above the keypad to record your PIN. Contact your card issuer immediately if you notice any suspicious charges or signs your card’s data has been compromised. Most credit cards have zero liability policies to protect consumers from fraud liability.
DeFi Scams
Decentralized finance (DeFi) refers to financial apps built on blockchain networks. While DeFi offers innovative alternatives to traditional financial services, these apps can be prime targets for scammers.
One common DeFi scam is when a platform falsely guarantees high returns on crypto investments in liquidity pools. Only put money into trusted platforms after carefully reviewing contract codes, terms, and audit procedures. Fake DeFi apps may also simply take investors’ money and disappear in what is known as a “rug pull.” Check multiple objective sources before investing money into a DeFi app and utilize tools that identify whether certain coins are acting as honeypots. Finally, as with any crypto transactions, double and triple-check the wallet address before hitting send. If the wrong address is used, it is unlikely you can get the funds back.
Catfishing Romance Scams
Catfishing romance scams take advantage of people looking for love online. A scammer creates a fake dating profile, builds trust with romantic chat messages, and then tricks their victim into sending them money for an “emergency” that doesn’t exist. Be wary of online love interests who make lavish professions of affection before establishing a real rapport. Ask specific questions about details in their life and see if their answers are consistent. Conduct reverse image searches on their photos. Beware if an online crush you’ve never met pressures you to send risqué photos that could be used to blackmail you later. Never send money to someone you meet online, no matter the reason or sob story. A genuine interest will never exploit you financially.
Protect Yourself Online
The best defense against online scammers is awareness, vigilance, and common sense. If an offer seems too good to be true, it likely is. Guard your personal and financial information closely. Never make payments or investments without understanding exactly where your money is going. By exercising caution online, we can help con artists steal less in 2024 while still enjoying everything the internet has to offer. Share scam awareness tips with family and friends to spread the word. United, we can outsmart these criminal masterminds together!
As online scams grow more advanced, we must keep each other informed of the latest threats. Share this article to spread awareness of three of the most insidious scams to watch for credit card fraud, DeFi scams, and catfishing romance scams. With caution and wisdom guiding our online activity, we can surf the web safely as we head into the next year and beyond.
