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Over the last couple of decades, the digital landscape has become an increasingly fertile ground for fraudsters to prey upon people. Perpetrators are employing sophisticated tactics to gain access to personal information and simply cause disruption. As the frequency and complexity of such crimes continue to grow, it is crucial for individuals to stay vigilant of the threats in their midst.

Nevertheless, it’s not always easy to know exactly what you should be vigilant of and how best to keep yourself safe. If you’ve incorporated digital technology into various areas of your life, there are likely to be a range of risks you face. So, we’re going to take a moment to review some of the key ways you can protect yourself from some of the more common targeted scams at the moment.

Social Security Scams

Social Security scams have become an increasingly prevalent threat, targeting individuals who rely on Social Security benefits or are approaching retirement age. If you’re in this demographic, you may find that scammers employ various tactics to pose as an employee of the Social Security Administration (SSA) and convince you to divulge your personal information. They’ll then attempt to utilize this to fraudulently access funds or assets.

It is important, then, to understand what steps you can take to safeguard yourself against Social Security scams. Firstly, get to know the methods fraudsters use. Some individuals will contact you by phone, often claiming that there is an issue and they require you to make a payment or provide your personal details to rectify it. Phishing emails, in which a message seemingly from the SSA requests you to click on a link to provide personal data, are also common. 

If you feel you are being targeted by this type of scam, avoid sharing sensitive information over the phone or email, especially your Social Security number. In some instances, scammers use fear tactics to create a sense of urgency and pressure you into revealing personal details. Try to remain calm and remember that legitimate organizations will never reach out to you to request your Social Security number or other sensitive information. Immediately terminate any contact with the individual and contact the official organization directly using verified contact information.

Consumer-Targeted Cybercrime

With the rise in popularity of online shopping and other services, consumer-targeted cybercrime is becoming more commonplace. This involves criminals illegally accessing your online accounts to gain sensitive personal and financial data you have saved on these platforms. Some businesses are taking steps to combat consumer-targeted cybercrime by adopting advanced digital identity tools. These tend to be stronger and more agile security systems. Some include elements such as passwordless login protocols and artificial intelligence (AI) driven behavior analytics to ensure imposters aren’t accessing accounts.

However, it’s important not to simply rely on the businesses you interact with to keep your data secure. One of the basic steps you need to take to protect yourself against consumer-targeted cybercrime is to use strong and unique passwords for each of your online accounts. Create complex passwords and avoid duplicating them across multiple platforms. If you find it difficult to remember these, you might find it helpful to use a password manager to securely store and generate strong passwords for all your accounts.

In addition, enable two-factor authentication (2FA) on your accounts wherever this is available.  Each time you log in, you’ll be required to provide a second form of verification in addition to your password. This usually takes the form of a code being sent to your mobile device.

However, you should also be wary of the growing use of one-time password (OTP) bots. These fraudulent systems will send a text claiming to be from your account provider, asking you to send details of a 2FA code to “confirm” you haven’t attempted a transaction. The bot will then use this to illegitimately access your account.

Payment Fraud

Payment fraud is a significant issue at the moment, with scammers constantly devising new tactics to steal financial information to conduct unauthorized transactions. Protecting yourself against this type of issue requires you to adopt strong security measures and proactive habits.

Take the initiative to monitor bank account activity regularly. This should include reviewing payments on any mobile banking applications and financial statements. Look for any suspicious or unusual transactions, even for small amounts. Promptly report any potentially fraudulent or questionable activity to your financial institution.

It’s also wise to be wary of unsolicited offers. If you receive emails, phone calls, or messages offering financial opportunities that seem too good to be true, they usually are. Scammers can use these tactics to convince people to provide payment information, which they’ll then use to make purchases of their own. Take the time to independently verify the legitimacy of such opportunities before proceeding, preferably by personally researching the businesses or schemes the party contacting you claims to be from.

Conclusion

As cybercrime continues to proliferate in the digital landscape, it is essential to remain vigilant of targeted scams. Whether it’s Social Security scams, consumer-targeted cybercrime, or payment fraud, you should get to know the hallmarks of the tactics criminals use. Avoid sharing sensitive information over the phone or email and use strong and unique passwords for online accounts. Remember that proactively monitoring your financial transactions can help you respond swiftly to issues.

It’s crucial to recognize, though, that scam tactics are constantly evolving. Cybercriminals are always finding new ways to exploit vulnerabilities and deceive individuals. Therefore, it is essential to stay informed through regular research and keep up with new recommendations on security best practices. After all, knowledge and awareness are among the most powerful tools in the fight against scammers.