A lot of users around the world have been victimized by online fraud. The personal details and private information of many Netflix users in the USA were stolen by authors of a new phishing attack, which was first reported at the beginning of 2017. Large numbers of WhatsApp users also fell for a bogus offer that proliferated across this popular chat application like wildfire during the first couple of months this year. Victims unknowingly participated in the viral distribution of this online scam, aside from wasting their time chasing a pipe dream while making money in the form of affiliate commissions for the authors of this Web scheme.
Another type of online fraud has caused huge losses to both real estate property buyers and solicitors in the UK during the first few months of this year. ActionFraud, the country’s national online crime reporting center, claims that victims of conveyancing scams lose an average of £101,000 each because of this Web crime. On the other hand, real estate brokers lose potential lucrative business deals due to this scam, and the reputation of their brokerage firm is also negatively affected.
Because of the widespread penetration of mobile devices and the rapid adoption of the mobile Web across many countries around the world – Cyber security experts predict that more than half of the planet’s total mobile user population would most likely be victimized by some form of malicious program or online fraud at one time or another by the end of 2018. A lot of victims in developing countries recently posted scam complaints in BigScammers.Com against fake money making opportunities, while unsuspecting users in industrialized countries continue to be victimized by bogus reshipping job offers and fraudulent check cashing schemes. Many of these victims were lured into these cyber traps through attention-grabbing ads and private messages in LinkedIn, Facebook and Twitter among other popular social networks and online communities.
With all the frequent changes and improvements that criminal groups and solo fraudsters do to their tactics and schemes for carrying out online fraud – What’s being done by the governments of affected countries, online security firms, financial institutions, device manufacturers and tech companies to fight cyber fraud? Here are some of the most notable things that they’re trying to do to solve these problems:
New Developments in Online Fraud Protection This 2017
Credit card companies, banks and other financial institutions around the world are looking closer at what blockchain technology can do for securing the accounts and transactions of their customers. This is a newly discovered technology that provides an immutable platform, which is technically impossible to hack. Cyber security experts claim that integrating this technology into the systems and processes of banks and other financial institutions can help protect the customers of these organizations against online fraud, especially when it comes to transactions on the Web and through mobile devices.
Artificial intelligence and big data are also among the top technologies today that are being studied by a lot of public and private organizations for fortifying existing online fraud protection protocols and identity verification procedures. Facial and voice recognition and other machine-learning or deep learning technologies can be used to block unauthorized access to private online accounts and sensitive information. Video and voice or text chat agent bots equipped with artificial intelligence and big data algorithms can be used to verify the identities of customers during checkout processes and login activities.
For the meantime, you should follow the tips below to protect yourself against online fraud during your day-to-ay activities on the Web and in your favorite apps and Web platforms. These are recommended by a lot of cyber security experts and online privacy specialists:
How to Avoid Online Fraud This Year
First, learn all you can about the newest tactics and schemes of crooks and fraudsters at the moment. You can do this by signing up at sites like BigScammers.Com – This Web platform offers a publicly accessible user-generated content repository with the latest postings of scam complaints and Web crime reports from other users worldwide. You can also publish your own scam complaints and Web crime reports in this website. Many online security specialists in both public and private organizations also contribute to the content repository of this online community. They provide useful guides and helpful recommendations on how to quickly recognize and steer clear from Web scams, along with tips on what to do after being victimized by certain forms of Internet crimes.
You’ll receive alerts and notifications in real time straight in your email inbox. This is a convenient way for you to keep at pace with the latest news about online fraud, allowing you to devise more suitable ways to avoid the most recent Web scams today.
Second, keep in mind to always verify the authenticity of any website that you’re on or any message that you receive. Authors of phishing attacks use cloned websites and deceptive messages to trick users into thinking that they’re in a familiar environment where they feel safe to transact in, or that they’re communicating with official agents of their banks, service providers and online account administrators. When you check before you click as they say – You can reduce your chances of falling for the latest online fraud tactics and schemes.
Third, enable the anti-spam and anti-phishing functions of your Web browsers, email client programs, chat tools and social network apps among others. You’ll be able to log most spam and phishing attacks when you do this, greatly reducing your susceptibility to online fraud.
By remembering these tips whenever you’re on the Web or using your favorite apps – You’ll be able to protect yourself against the most prevalent online fraud tactics and schemes today. Also keep in mind that if it sounds too good to be true, then it probably is.