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We all know someone who fell victim to an online scam. Some people only lose a small amount this way, but the financial damage can amount to thousands and most of the time you will not be able to get your money back.
Our fast-paced digital world unfortunately means that online scams are becoming increasingly sophisticated, Keletso Mpisane, head of Blink by MiWay, says. “Scammers are constantly looking for new ways to deceive people and modern technology like AI has made it even easier for them to appear legitimate.
“While life is made more convenient thanks to technology, it also presents more chances for bad actors to mislead and exploit people.” Mpisane says as a digital car insurance provider, Blink by MiWay has also been the target of online fraudsters, including artificial intelligence (AI) and fake competition giveaways spread on social media.
“It is always better to be cautious. If you ever feel unsure, reach out to customer care for confirmation. It is worth taking the time to double-check.”
Fortunately, Mpisane says, there are a few steps, including knowing what to look out for, that you can take to stay safe and protect yourself online.
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Phishing scams are one of the most common ways scammers try to trick people. These scams often come in the form of an unsolicited email or message, urging you to click on a link, Mpisane says.
“If you are not sure about a link, do not click on it. It is always better to go straight to the company’s website or contact them directly.”
Scammers are good at creating fake sites that look just like the real thing, but their aim is to steal your information. As a rule of thumb do not trust any links or attachments in emails or social media messages you were not expecting. Always hover your cursor over links in emails to preview the destination URL.
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One of the oldest tricks in the scammer’s book is offering something that is just too good to resist, such as free phones, cash prizes, or unrealistically big discounts.
Mpisane says this method works because it triggers emotions like excitement or worry in our brains. Just 10 seconds of mindful pausing will reactivate your logical thinking brain and therefore you must slow down before reacting to any messages that make you feel excited.
Blink by MiWay had to warn customers after a fake cellphone giveaway started doing the rounds on social media. “If something sounds too good to be true, it usually is. Keep in mind that real companies will never ask for your personal details or payment upfront for a prize.”
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Scammers often target online accounts, using them as gateways to steal even more information. Whether it is your email, social media, or insurance account, using strong and unique passwords is crucial, Mpisane says.
“Once a scammer gets into one account, they can easily use password recovery to gain access to others. It is best to ensure security by using a password generator and use a password manager to keep your unique passwords organised.”
Adding two-factor authentication, where a second device authenticates your login, adds an extra layer of protection and can help stop scammers in their tracks.
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