Every year, millions of people fall victim to cyber-crime. According to the FTC (Federal Trade Commission) Consumer Sentinel Network Data Book 2020, of 4.7 million complaints received that year, 2.2 million were fraud-related. This resulted in a $3.3 billion loss – an increase of nearly $1.5 billion from 2019.
According to the FBI (Federal Bureau of Investigation), internet fraud is the use of internet services or software with internet access to defraud victims or to otherwise take advantage of them.
Scammers are constantly changing their tactics and techniques which makes it hard to detect online fraud. But there are precautions you can take to protect yourself and your business from cyber-crime. Let’s look at a few.
Set strong passwords
Ensure the passwords should you set are at least eight characters long using a combination of upper-case and lower-case letters along with numbers and special characters.
Also, change your passwords frequently to reduce the risk of getting hacked and always use a different password for every account or website.
Watch out for phishing attacks
Phishing attacks are often delivered by email. They attempt to trick you into downloading infected attachments or following links to scam sites.
To avoid falling into this trap, avoid clicking on any links or opening attachments from unfamiliar sources, and report any site to the organization the scammers are impersonating.
Also, never open mysterious pop-up windows.
Secure your gadgets and internet connection
Keep your computers, smartphone, and software secure from cyber threats by protecting them with credible, up to date security software and operating systems.
Make sure to turn on automatic updates to ensure you receive the latest updates, including vulnerability patches.
Moreover, make sure not to transmit critical and confidential information over public Wi-Fi.
Rely on encrypted websites
When surfing online, always verify that a website uses secure technology. Web addresses that begin with HTTPS are encrypted as opposed to HTTP. Your web browser will also display a padlock icon to show that the site is encrypted.
Even though not every encrypted site is safe to surf, it is a sign that it is more secure than others.
Turn on two-factor authentication
Fraudsters have devised tons of creative ways over the years to steal your passwords, making an extra layer of security a necessity. This is where two-factor authentication comes in-handy.
Two-factor authentication requires you to provide two authentication variables, i.e., a password and an access code that you receive via text.
Don’t email signatures or account numbers
Only use trusted and secure file-sharing services to send out personal and banking information. Making a phone call to share that information guarantees some security.
Online fraud can affect anyone, and vigilance is the best protection. Enroll in Basics in Fraud and Cybersecurity Risk Management at Finstock Evarsity College to find out how to get started with the basics of cybersecurity.
