Online shopping has made it easy for consumers to get the best deals possible. You’re no longer limited to the shops and services in your area. Instead, you can take to the web, shop around, and get value for your money. What more could you want?
Unfortunately, this convenience comes with risks that you must be mindful of. Opportunistic criminals can and are designing scams to trick consumers into parting with their money.
While you might think you’re grabbing a fantastic deal online, you could be falling into an elaborate trap. And before you can take any measures, the criminal disappears without a trace.
Thankfully, the good news is that consumers aren’t defenseless against rising online scams. There are several measures you can take to mitigate any risks. With that in mind, let’s explore easy ways to identify online scams and protect yourself.
The rising threat of online scams
In 2023, Australians lost over $2.7 billion to online scams. As such, digital crime has become a major threat to every person and business in the country. While the statistics show that older people are particularly vulnerable, the sad reality is that anyone can become a target.
In the world of cybersecurity, knowledge is power. And knowing what kind of scams are out there is instrumental to protecting yourself. Two of the most common types of scams you must be aware of include:
Phishing scams
Phishing is one of the most common types of cyberattacks worldwide, with over nine million incidents reported in 2023 alone. It is when a scammer impersonates a legitimate person or service. They aim to build trust and trick you into compromising your accounts.
The scammer often pretends to represent a legitimate website or service. They will warn you about an issue with your account that needs your urgent attention. The scammer will claim they can help but need sensitive information, such as your username and password.
Using a strong sense of urgency, they hope that you’ll act quickly without thinking. By sharing sensitive information, the scammer is given free access to your account.
From there, they can steal sensitive financial details and make purchases on your account. Scammers can also use the information they’ve gathered about you to use in future cyberattacks.
Social media scams
Social media has become a popular marketplace for buying things and researching services. Unsurprisingly, criminals have begun using these platforms for their nefarious causes.
Like phishing, scammers can create phony social media pages to contact you. They may post convincing fake advertisements using the same branding from legitimate retailers.
Scammers exploit metrics on social media to make their scams seem trustworthy. They will inflate engagement on posts, including lots of likes and shares, to deceive you.
If you click on links, you’ll likely be brought to a fake website that can steal information entered. Products or services that are fulfilled will be of low quality and won’t match the advert’s description.
To make matters worse, these websites may only offer payment methods like wire transfers or gift cards. These provide little protection against fraud and are nearly impossible to refund.
How to protect yourself from online scams
You can bolster your cybersecurity and avoid common online scams in many ways. Two of the simplest and most effective include:
Learning to identify common red flags with online scams
Online scams often share a variety of common traits. By familiarising yourself with these, you’ll be able to avoid them. Look out for the following warning signs:
- Sense of urgency: Scams often use time to pressure you into acting quickly. Legitimate services will always give you enough time to think and ask questions before committing.
- Too good to be true offers: A scammer will use sensationalist offers to grab your attention. These can include low prices or free extras, all designed to trick you into clicking.
- Suspicious links: Be careful when clicking a URL on both social media and via SMS. Scammers can disguise harmful websites to make them appear legitimate.
- Bad reputation: Before providing any information to a website or service, research it thoroughly. Ask yourself: How long have they been active? Do they have a good reputation in their area? Do customer reviews reflect genuine experiences?
Protecting your online activity with a virtual private network (VPN)
Another effective way to protect yourself online is by improving your cybersecurity. A virtual private network (VPN) is a tailor-made tool that protects your privacy.
A VPN works by encrypting your internet connection. All data you send and receive is scrambled, making it harder for scammers to track you. This encryption prevents them from stealing information about you to use in phishing attacks.
Best of all, many VPNs also have advanced threat protection features. These features shield you from fake websites, malware, and other risks. With a reliable VPN in Australia, you can browse confidently, knowing your online activity is secure.
Stop online scams in their tracks
The internet has become the ideal place to buy and research new products and services. But it’s important to recognise that it’s not invincible; scammers pose a growing threat to your cybersecurity.
Scams are cleverly designed to mislead you into believing an amazing deal is trustworthy. The sad reality is that if it seems too good to be true—it’s because it probably is.
Remember to verify the website before committing to anything, including creating an account. Take your time and ask any questions you need before making a payment. If the vendor is to be trusted, they won’t mind waiting. Only then can you truly buy with confidence online.
“The opinions expressed by BizWitty Contributors are their own, not those of BizCover and should not be relied upon in place of appropriate professional advice. Please read our full disclaimer."
