According to the FBI, a record $16.6 billion was stolen in online scams in 2024, and officials only expect that number to grow. October is Cybersecurity Awareness Month, a great time to make sure you are cyber aware and taking steps to reduce your risk of being a victim of online scams. Here are some basic tips that can help protect you and your information from devious actors.
Protect Your Accounts and Devices
There are several steps you can take to protect accounts and devices from scammers, including:
- Use antivirus software and make sure it is up to date
- Update software regularly to patch loopholes criminals can exploit
- Use long, complex passwords and create unique passwords for each site
- Enable two-factor authentication
Be Cautious with Communications
Scammers have become increasingly sophisticated over time, sending emails that seem to come from valid email address and look official. Approach unexpected emails and text messages with a bit of skepticism.
- Do not open messages from people you don’t know and block suspicious emails and phone numbers
- Check the sender’s address to confirm it is legit (if you cannot see the full email address, hover over the sender’s name until it shows the full address)
- Avoid clicking links in messages – go directly to a company’s website and log in there to verify the validity of the message
- Beware of messages with a sense of urgency or demanding immediate action
- Be careful about what you communicate and share on social media, which can be used by scammers against you and those you know
Verify and Use Secure Transactions
Before spending money with a company, make sure they are legit and you are doing so in a secure environment.
- Verify businesses independently by searching for the company with the word “scam” or checking the Better Business Bureau
- Use credit cards as a payment method and avoid non-traditional methods like wire transfers, gift cards, and cryptocurrency
- Check for https, which indicates it is a secure, encrypted connection
Monitor Your Finances and Trust Your Gut
If something doesn’t feel right, it probably isn’t – trust your instincts! Further protect yourself by monitoring your finances.
- Go through bank and credit card statements regularly to spot unfamiliar transactions and other issues
- Set up alerts with your bank to receive notifications for account activity
- Check credit reports at least once a year and consider setting up credit freezes to prevent others from opening accounts under your name
- Trust your instincts – If something feels too good to be true, it probably is
- Report scams to the FBI’s Internet Crime Complaint Center or the BBB Scam Tracker
Stay Informed on the Latest Threats
Being aware of the common scams will help you spot them. The Cybersecurity and Infrastructure Security Agency (CISA) issues alerts and advisories regularly to inform the public of ongoing cyber threats. Here are some common scams to look out for:
- Phishing: Scammers pretend to be from a bank, store, or government agency and send you an email with a link to a phony website set up to look like the legitimate site. When you enter your login or personal information into the fake site, the scammer collects it to use or sell.
- Smishing: This scam is similar to phishing, but instead of an email, scammers use a text message to contact you.
- Emergency Scams: Also known as Grandparent Scams, these involve a call, email, or text message from someone claiming to be your friend or family member in dire need. They disguise their voice or spoof emails/numbers and use information available on the Internet to create a sense of urgency to get you to pay to “help” them with their emergency.
Online Dating: Romance scammers create fake profiles to develop a relationship with you through online dating apps or social media sites. Once the relationship develops and they have gained your trust, the scammer makes up a story and asks for money.- Overpayment Scam: The scammer sends what looks like a legitimate cashier’s check, but it is for more than what they should or agree to pay. They ask you to deposit the check in your bank, keep some of the funds, and wire back the rest of the payment. Once the check is processed by your bank and found to be fraudulent, you are out the money you wired back.
- Job Scams: Any job that requires you to pay upfront for training or equipment or sends you a check to deposit is often a scam. Be wary of job solicitations that sound too good to be true, interviews that don’t seem legitimate, or jobs that pay extremely well for little work/pay outside of industry norms. When in doubt, contact the company directly to confirm the job is legitimate and the person you interviewed with genuinely works there and has hiring capabilities.
- Mortgage and Foreclosure Scams: Scammers claim to be lenders, loan services, financial counselors, or representatives of a government agency who can help with your mortgage or foreclosure. Be cautious of unsolicited help. Once fraudsters get information from you, they can take equity from your home, and some try to evict victims from their homes and try to sell it.