With the new year comes a new set of tactics and schemes from criminal syndicates and solo fraudsters for their latest credit card scams and similar financial frauds. They constantly improve their social manipulation tricks and create new processes to circumvent the most recent online security protocols and user identity verification systems that are implemented into popular ecommerce platforms, social networks and other Web applications. They also improve their malicious technologies to victimize as many users as possible with little to no resource cost on their part.
Those are some of the main reasons why card not present scams, identity theft and other financial frauds are predicted to grow by an astounding 125% at the end of 2018. Many cyber security analysts and financial experts in the USA claim that losses due to credit card fraud and identity theft could most likely reach up to more than $19 billion in the next few years. In the USA alone, over $8 billion of losses were reported in 2014 because of card not present scams, ecommerce fraud and similar online crimes.
How Are the Newest Credit Card Scams & Financial Frauds Done Today?
Phishing Scams – The majority of Big Scammers online scam complaints and fraud alerts this week still involve phishing tactics. These are devised to help solo scammers and criminal syndicates to commit credit card scams, identity theft and other financial frauds. Phishing is used to trick unsuspecting victims into unknowingly giving away their personal details, financial credentials and private information through fake websites, which are mainly promoted by many fraudsters via mass mailing campaigns.
Criminal syndicates buy mailing lists and contact details of their target victims from hacking groups that steal information from online databases of popular ecommerce platforms, shopping sites and other widely used Web applications. They then design phishing messages that are laced with fake urgency claims, scare rhetoric and links that point to fake websites, which they also operate for committing credit card scams, identity theft and other financial frauds.
The fake websites that they use for their phishing scams are exact clones of their target user group’s online banking portals, favorite social networks, Webmail platforms, shopping sites and so on. Many users are fooled by these phishing messages, thinking that they need to log into those fake sites and update their account settings and profiles to avoid security breaches and privacy risks as reported by other users. Little do they know is that their inputs are immediately logged, stolen and transmitted to scammers and criminal syndicates, which then use the stolen information for committing credit card scams, identity theft and other financial frauds.
Phishing messages are normally sent out through email, mobile SMS, as instant messages in widely used chat applications, and as private messages in popular social networks. A lot of victims claim that they fell for similar phishing scams because the deceptive messages were sent from the hacked accounts of their peers.
To steer clear from the most prevalent credit card scams, identity theft and similar financial frauds, you first need to avoid phishing scams. To do this, you must be more careful when handling suspicious messages. You should also verify the authenticity of any link or website before you enter sensitive information into those platforms.
The most convenient way to avoid financial frauds is to sign up at BigScammers.Com. This will allow you to receive instant notifications and real time alerts about the newest tactics, schemes, target user groups and Web platforms, malicious applications and distribution channels that are used by solo fraudsters and criminal syndicates for their illegal activities on the Internet. This can in turn help you devise more suitable ways and choose the right online security tools to defend yourself against the cyber traps of scammers.