How to Outsmart a Scammer
AN ACTIONABLE GUIDE TO HELP PREVENT SCAMS AND FRAUD FROM INFILTRATING YOUR FAMILY FINANCES
About 1 in 3 Americans has been hit by online fraud or cybercrime, according to an Ipsos poll sponsored by Wells Fargo. From phishing emails to those annoying fake tech support scams, the tactics are as diverse as they are deceptive.
With this in mind, it's clear that protecting yourself – and your family – from scams is more important than ever. In our last article, we covered how to pick up on the subtle cues that you may be dealing with a scam, before it’s too late (here’s Part 1 if you missed it).
This time, it’s all about prevention. Today we’re giving you 5 ways to protect yourself from scams and keep your money safe and sound.
Quizzes: A Scammer’s Goldmine
Quizzes can seem fun and harmless, but they can actually be a personal information goldmine for scammers. When you take an online quiz, you’re often asked for details like your full name, birthdate, hometown, and even pet's name. Now, where’s the harm in that? Think about it, those are the exact same types of security questions used to verify your identity on many websites and accounts.
So, while it might be tempting to find out which Avenger you resemble (*Iron Man) or what your Disney princess DNA is, think twice before handing over your personal info. Be sure to stick to reputable sources and always be mindful of the information you're sharing online – you never know which villain may be lurking on the other end of that quiz!
Cybersecurity: Invest in the Best
When it comes to online security, your first line of defense against scammers is a robust cybersecurity setup. To keep hackers at bay, invest in reputable antivirus software, firewalls, and spam filters.
While you’re at it, ensure you set up a strong Wi-Fi password and enable WPA2 encryption to keep out unwanted guests. And whatever you do, don't use the same password for every account, that's just asking for trouble! A little extra protection can go a long way in safeguarding your sensitive data.
Beware of Imposter Emails and Websites
Even though you haven’t ordered anything in weeks days, Amazon’s emailing that your recent delivery is “on hold.” Does something smell a little… phishy?
At first glance, these emails and websites look legitimate – but be sure to take a closer look at that URL before clicking any links. Scammers try to replicate legitimate websites and email addresses, so always double-check misspellings or suspicious redirects. Hover over links and sender email addresses to confirm they are legitimate and to determine whether it’s really Amazon (and not Amazoon) sending emails your way.
Monitor Your Accounts Regularly
When was the last time you reviewed your bank statements? If you’re drawing a blank, it may be time to start making it a habit. Busy parents have a lot to worry about, but the fact is scanning your monthly statements puts you in control of catching fraudulent charges early. Be sure to keep an eye out for unauthorized transactions or suspicious activity on all of your bank and credit card accounts.
What’s more, if you subscribe to paper statements, invest in a trusty shredder to dispose of any documents containing sensitive info. Remember, raccoons aren't the only ones rooting through your garbage – scammers can be utterly shameless if they think your trash could lead them to treasure.
Stay Educated
Knowledge is power. By keeping up with the latest scam trends and tactics, you can stay one step ahead of scammers. Follow reputable financial news outlets (and newsletters, of course), subscribe to scam alerts, and read up on common phishing techniques – you’re 80% less likely to fall victim to a scam when you do.
Even better, pay it forward by sharing your knowledge with friends, family, and loved ones. If you receive a sketchy email or catch on to a new scam, sound the alarm! Chances are, you’ll be able to help save someone else from becoming a victim. After all, there’s strength in numbers!
Final Thoughts
When it comes down to it, the more you know, the better equipped you'll be to spot and avoid potential scams. Remember, the goal isn’t to question everything – that’s crazy-making! It’s to stay vigilant and share what you’ve learned with your family because you never know when they’ll need it!
By following these tips, you'll be better able to safeguard your privacy and protect yourself from becoming another statistic.
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