Stay vigilant to protect your identity and your financial information. Here's how.
We seem to hear about a new online scam nearly every week. While the internet has changed the world for the better in many ways, there is a downside. Online scams are still widely prevalent, and despite the misconception that they are primarily a concern for senior citizens, a recent study by the FTC found that more millennials than retirees are now getting scammed out of money online. Everyone can be susceptible to these acts if they are not cautious. In 2020 so far, Nebraska has had over 2,000 reports of identity theft .
At Arena Financial management, protecting your money and personal information is a top priority. That’s why we’ve outlined how to spot the latest online scams and how you can protect yourself with these internet safety tips.
The Better Business Bureau warns about online fraud happening within Facebook. It starts with a “friend or relative” who contacts you through Facebook saying you are entitled to free money. These can come from fake profiles or hacked accounts. The catch? You need to pay up front for shipping or processing or provide other sensitive information that can be used for identity theft.
The old phrase “If it seems too good to be true, it probably is” certainly applies to shopping online. Fake shopping websites have been popping up lately, aiming to scam you out of your hard-earned money. Pay attention to these red flags, which will help tip you off to a fake website or online store:
You’re likely familiar with phishing scams—fake emails that look to be sent from legitimate companies—but have you heard of a similar tactic called smishing? Smishing scams involve fraudulent text messages that seem urgent and indicate something is wrong. These messages prompt you to click a link, send sensitive personal information or reply to the text to resolve a serious situation. They may also promise free gifts or offers in exchange for personal information. So how should you handle a text message you think may be spam?
Some of the biggest categories of online scams are ones that promise you can make easy money online or from home by doing little work. Here are a few to watch out for:
If you’ve heard of “catfishing,” you can imagine what this breed of scamming is all about. In this increasingly popular online scam, a fraudster preys on vulnerable people seeking a romantic connection to lure them into draining their bank accounts.
Online dating scammers often fool their victims into falling in love with them by using information posted in the victims’ dating or social media profiles. Romance scammers try to quickly woo their targets and move the conversation to a private channel, like over the phone. Then, suddenly, something horrible happens. This could involve a lost job, a family member ending up in the hospital or someone dying—which is when the fraudster will ask for money or gifts.
Consider these tips and others from the FTC to avoid falling for a romance scam:
If you suspect you’ve become a victim of fraud or identity theft, contact Arena Financial management right away by calling +44 7862373614 +447915636052 or visiting one of our branches. Report suspicious activity, and all other fraud immediately.
We are here to advise and support you as much or as little as you need. We are happy to work with your other professional advisors, such as your accountant and solicitor.
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