Protecting Yourself from Online Scams in the Modern Age
Online scams have evolved far beyond the infamous Nigerian prince emails in the digital era. Today, scammers use sophisticated methods, from email phishing to Facebook Marketplace scams, and even exploit the buzz around NFT art to dupe unsuspecting victims. As digital citizens, understanding these scams and the simple measures we can take to protect ourselves is more crucial than ever. But before diving in deep, the following are some helpful links.
Keep yourself safe:
https://haveibeenpwned.com - This site lets you see if your email has been used in a data breach. https://www.equifax.co.nz/credit-file-suppression - This site means that you can restrict who can take credit out in your name. (Which is a common goal of fraudsters.
Where to go for help:
https://www.idcare.org
https://netsafe.org.nz
For Facebook Account Hacks: https://m.facebook.com/help/contact/295309487309948?wtsid=rdr_0NyVY293yP5vESiMa
Banking Scam - where to get help:
The following is the contact details for the four main banks in New Zealand.
ASB
https://www.asb.co.nz/banking-with-asb/online-security.html
Call ASB immediately on 0800 ASB FRAUD (0800 272 372), or +64 9 303 0332 if you’re overseas
Westpac
https://www.westpac.co.nz/personal/ways-to-bank/safety-and-security/latest-scams
Call Westpac immediately on 0800 400 600
ANZ Bank
https://www.anz.co.nz/banking-with-anz/banking-safely/reporting-fraud/report-scam-fraud
Call ANZ immediately on 0800 269 296 (+64 4 470 3142 from overseas, charges may apply)
BNZ Bank
https://www.bnz.co.nz/about-us/online-security
Contact BNZ immediately on 0800 735 901
Contact the Police
Once you have reported the scam to your bank contact the Police, here’s how:
https://www.police.govt.nz/advice-services/how-report-crime-or-incident#anchor8
The following are a few of the more common scams we see:
Email phishing
Email phishing has evolved significantly from its early days of generic emails, becoming much more sophisticated and targeted. Today, scammers employ advanced social engineering techniques to create highly personalised and convincing emails, often making it difficult for individuals to distinguish them from legitimate communications. This evolution in strategy makes phishing attempts far more dangerous and effective, as it exploits the psychological aspect of trust by appearing as though the sender has a legitimate reason to contact you. Here's a deeper dive into the current landscape of email phishing:
Personalisation and Recent Activities
Modern phishing emails may reference specific recent activities, interests, or events that are relevant to you. This could include:
Purchases and Transactions: Emails that appear to come from online retailers or financial institutions you've recently used, claiming there's an issue with your recent order or transaction.
Social Media Activities: Messages that seem to be from social media platforms, referencing recent posts, comments, or friend requests to make the email feel more authentic.
Travel and Events: Communications mimicking airlines, hotels, or event organisers relating to recent bookings or expressing interest in upcoming events.
Social Engineering Tactics
Phishing emails now often include elements designed to manipulate emotional responses or exploit trust, such as:
Urgency: Creating a sense of urgency to prompt immediate action, like claiming your account will be suspended or losing out on a benefit if you don't respond quickly.
Authority: Impersonating someone in a position of authority, such as a boss or a government official, to make the request seem more legitimate.
Familiarity: Using personal information gathered from social media or previous data breaches to make the email appear as if it's from someone you know.
Protecting Yourself
Given the sophistication of these tactics, it's crucial to adopt a cautious and sceptical approach to emails requesting personal information or urging you to click on links:
Cross-Check Information: Always verify the authenticity of an email by contacting the company or individual directly through official channels, not by replying to the email or using the contact information it provides.
Think Before You Click: Be wary of links or attachments in unexpected emails, even if they appear to come from a known entity. Use official websites or apps to conduct transactions or provide information.
Use Security Tools: Employ email filters, antivirus software, and other security tools that can help detect and quarantine phishing attempts.
Educate Yourself: Stay informed about the latest phishing techniques and tactics. Many organisations offer training and resources to help recognise phishing attempts.
In summary, the evolution of email phishing into more personalised and psychologically manipulative tactics underscores the importance of vigilance and scepticism when managing email communications. By understanding these tactics and adopting a proactive approach to email security, individuals can significantly reduce their risk of falling victim to phishing scams.
Facebook Marketplace Scams
Facebook Marketplace has become a popular platform for buying and selling goods locally, but its rise in popularity has also attracted scammers looking to exploit users. These scams can take various forms, often involving sophisticated tactics to deceive both buyers and sellers. Understanding the common types of scams and adopting safe practices are essential for a secure transaction experience on the platform. Here's an expansion on the mentioned scams and tips for navigating Facebook Marketplace safely:
Types of Facebook Marketplace Scams
Fake Payment Receipts: Scammers may send a counterfeit receipt claiming they have paid for the goods. These fake receipts might look official but are designed to trick the seller into shipping the item without receiving actual payment.
Shipping Scams: In these scams, the buyer or seller is manipulated into shipping or paying for goods that don't exist or will never be delivered. For sellers, this may involve a bogus buyer asking to use a specific shipping service and then sending a fake payment. For buyers, a scammer may provide a fake tracking number as proof of shipment for goods that were never sent.
Non-existent Goods: Sellers may list items that they do not actually have. After receiving payment, they disappear without providing the item. Buyers are left without both the item and their money.
Overpayment Scams: This involves a buyer sending a check or digital payment for more than the purchase price of the item and then asking the seller to refund the difference. Typically, the original payment is fraudulent and will be reversed or bounced, leaving the seller out of pocket.
Safe Practices on Facebook Marketplace
To protect yourself from scams, consider the following practices:
Use Facebook's Payment System: Conduct transactions through Facebook's payment system rather than using external payment methods. This provides a layer of security and makes it easier to dispute fraudulent transactions.
Avoid Outside Communication: Scammers often try to move conversations off the platform to avoid detection. Keep all communications within Facebook Marketplace's messaging system to ensure there's a record of your interactions.
Meet in Person for Local Sales: Complete transactions in person whenever possible, especially for valuable items. Choose a public place for the exchange and consider bringing a friend for safety.
Inspect Goods Before Payment: For buyers, inspect the item in person to ensure it matches the listing before making payment. For sellers, only hand over the item once you've confirmed the payment is legitimate and in your account.
Be Wary of Too-Good-to-Be-True Deals: If a deal seems too good to be true, it probably is. Scammers often lure victims with below-market prices.
Report Suspicious Activity: If you encounter suspicious behaviour or believe you've been scammed, report the user to Facebook and consider filing a report with your local law enforcement.
Adopting a cautious approach and following these practices can help you avoid falling victim to scams on Facebook Marketplace. The platform offers a convenient way to buy and sell items locally, but it's important to remain vigilant and informed about potential scams to protect yourself and your transactions.
NFT Art Scams
NFT (Non-Fungible Token) art scams have proliferated with the explosive growth of the NFT market. These scams exploit the digital nature of NFTs and the often complex blockchain technology underlying them to deceive buyers and sellers. By understanding the common tactics scammers use and adopting best practices for NFT transactions, individuals can better protect themselves in the digital art market. Here's an expansion on the mentioned scams and strategies for safer engagement with NFTs:
Common NFT Art Scams
Phishing Links Disguised as Auctions: Scammers create fake NFT auctions or galleries that look remarkably similar to legitimate ones. These phishing sites are designed to steal personal information, such as login credentials or private keys, which can then be used to access your digital wallet and steal your assets.
Counterfeit Digital Certificates of Authenticity: Just as scammers can create fake physical art, they can also create counterfeit NFTs. They might copy an artist's work and mint it as an NFT on the blockchain, falsely claiming it as the original. Buyers may purchase an NFT that has no value or connection to the artist.
Fake or Hijacked Social Media Accounts: Scammers often impersonate popular artists or platforms via social media to promote their scams. They might announce fake NFT drops or sales, directing followers to fraudulent sites where their financial and personal information can be compromised.
Strategies for Safer NFT Transactions
Engage with Well-Known Platforms and Artists: Stick to reputable NFT marketplaces and artists with a verified presence on these platforms. Look for verification checks next to their names, which indicate that the platform has confirmed their identity.
Double-check Digital Wallet Addresses: Always verify the wallet address involved in any transaction. If you buy an NFT directly from an artist or through a secondary sale, confirm the wallet address through multiple sources, such as the artist's official website or social media channels.
Be Skeptical of Unsolicited Offers: Be wary of unsolicited messages or emails offering exclusive NFT deals or opportunities. Scammers often use these tactics to lure victims into phishing schemes.
Use Secure Networks and Devices: Ensure your computer and internet connection are secure when conducting transactions. Avoid public Wi-Fi networks and consider using a VPN for an added layer of security.
Educate Yourself About NFTs and Blockchain: The more you understand NFTs and the blockchain technology that powers them, the better you'll be to spot potential scams. Familiarise yourself with how NFT transactions work, the importance of digital wallets, and the role of smart contracts.
Monitor Transactions and Wallet Activity: Regularly check your digital wallet's transaction history and be alert to any unauthorised activity. Using wallets that offer multi-factor authentication can also add an extra layer of security.
By taking these precautions, individuals can navigate the exciting world of NFT art with greater confidence and security. While the NFT market offers unprecedented opportunities for artists and collectors alike, it's essential to remain vigilant against scams that could undermine the value and trust in digital art transactions.
Investment Scams
Investment scams have significantly diversified and increased with the advent of cryptocurrency and digital finance, leveraging the allure of high returns and the novelty of blockchain technology to entice unsuspecting investors. These scams exploit the lack of understanding and the heightened interest in the rapidly growing but volatile cryptocurrency market. Understanding the nature of these scams and adopting a cautious approach to investing can help protect your financial assets. Here's an expansion on the topic, including common types of investment scams in the cryptocurrency space and strategies for safe investing:
Common Types of Investment Scams
Ponzi and Pyramid Schemes: These schemes promise high returns that are supposedly generated by new investments into the scheme. In reality, returns are paid to earlier investors using the capital of newer investors until the scheme collapses.
Fake ICOs (Initial Coin Offerings): Scammers create fraudulent ICOs for nonexistent cryptocurrencies or projects. They might use sophisticated websites and whitepapers to convince investors of the legitimacy of their project, only to disappear with the funds once they've collected enough investment.
Pump and Dump Schemes: Groups of scammers might inflate the price of a lesser-known cryptocurrency by spreading misleading information, only to sell off their holdings at a peak before the price crashes, leaving other investors with worthless assets.
High-Yield Investment Programs (HYIPs) promise unsustainably high investment return rates. They are often Ponzi schemes dressed up with cryptocurrency jargon to lure in unsuspecting investors.
Strategies for Safe Investing
Research Thoroughly: Conduct extensive research before investing in any opportunity, especially one involving cryptocurrencies. Look into the project's team, its whitepaper, the problem it aims to solve, and its growth potential. Verify the information through multiple independent sources.
Be Skeptical of Unsolicited Offers: Be wary of investment opportunities that come unsolicited, whether through email, social media, or even through friends and family. Scammers often use social proof and pressure tactics to create a sense of urgency.
Understand the Investment: Ensure you fully understand how the investment works, the underlying technology, and the risks involved. It may be a red flag if the project's details are unclear or too complex.
Check for Regulatory Compliance: Many legitimate cryptocurrency projects and platforms are regulated in some jurisdictions. Check if the investment is compliant with local financial regulations, which can offer some level of protection.
Use Trusted Platforms: Invest through reputable and established platforms known for their security measures and transparency. These platforms often provide additional layers of investor protection.
Diversify Your Investments: Avoid putting all your financial resources into a single investment. Diversification can help mitigate risk in the volatile cryptocurrency market.
Be Realistic About Returns: Be cautious of any investment that promises guaranteed high returns with little to no risk. In the world of investing, especially with cryptocurrencies, high returns come with high risk.
Investment scams, particularly those involving cryptocurrency, prey on the excitement around new technology and the desire for quick profits. By approaching every investment opportunity with scepticism, conducting thorough research, and adhering to the principles of safe investing, individuals can better protect themselves against these sophisticated scams.
Romance Scams
Romance scams have become increasingly sophisticated and prevalent in the digital age, exploiting individuals' desire for companionship and love. Scammers use fake profiles on dating sites, social media platforms, and even through direct email or messaging services to lure their victims. Understanding the dynamics of these scams and adopting protective measures is crucial for anyone engaging in online relationships. Here's an in-depth look at romance scams and strategies for staying safe:
How Romance Scams Work
Creating Convincing Profiles: Scammers craft detailed fake profiles, often using stolen photos and identities. They may pretend to be from your country but claim to work abroad, making it seem plausible when they cannot meet in person.
Grooming and Manipulation: Scammers build trust and emotional connection with their targets over weeks or months. They are patient, attentive, and seemingly caring, often expressing strong emotions early to deepen the bond.
The Ask: Once a strong emotional connection is established, the scammer will find a reason to request money. Common pretexts include medical emergencies, travel expenses to visit the victim, legal troubles, or financial crises. The reasons are designed to tug at the heartstrings and urgency, making it hard for the victim to refuse.
Continuous Exploitation: If a victim sends money, scammers will often continue to exploit them with more elaborate stories and requests for funds. This cycle can continue until the victim runs out of money or realises they are being scammed.
Protecting Yourself from Romance Scams
Verify Identities: Before getting too involved, take steps to verify the person's identity. Insist on video calls (not just photos or voice calls), as scammers may be reluctant to show their faces. Be cautious, though, as some scammers use stolen videos or deepfake technology.
Stay on Reputable Platforms: Scammers often try to move conversations to private messaging, email, or phone calls to avoid detection by the dating site or app's moderation systems. Keep conversations within the platform where you met until you're confident in the person's authenticity.
Be Skeptical of Fast-moving Relationships: Be wary if someone you've just met online moves too quickly, professing love or deep connection unusually fast. Scammers play on emotions to lower your defences.
Never Send Money or Share Financial Information: No matter the story, never send money or share your bank details, credit card numbers, or other financial information with someone you've only met online.
Conduct Online Searches: Use search engines and social media to check if the person's photos, stories, and details match up and haven't been used elsewhere. Reverse image searches can reveal if their photos appear on other sites or belong to someone else.
Ask for Opinions: Share your online friend's details with trusted friends or family members. They can offer a more objective perspective on your online relationship, potentially spotting red flags you might have missed.
Report Suspicious Behavior: If you suspect you're communicating with a scammer, report their profile to the platform where you met and consider contacting law enforcement. This can help protect you and prevent others from falling victim to the same scam.
Romance scams prey on vulnerable emotions, making them particularly insidious. By staying informed, vigilant, and sceptical, individuals can protect themselves from falling victim to these cruel deceptions. Remember, if an online relationship seems too good to be true or moves too quickly, it's important to proceed cautiously and verify everything.
The digital age has ushered in numerous opportunities for connectivity, convenience, and financial growth, but it has also opened the door to sophisticated scams across various platforms. Whether through email phishing, Facebook Marketplace, NFT art market, investment schemes, or romance scams, fraudsters have honed their tactics to exploit trust, manipulate emotions, and leverage the anonymity of digital interactions. Here's a summary of the key points across these scam types:
Email Phishing has evolved to include highly personalised messages referencing your recent activities or interests, making them appear more credible. Social engineering tactics make these scams particularly insidious, exploiting trust to steal personal information or financial details.
Facebook Marketplace Scams can involve fake payment receipts, shipping scams, or selling non-existent goods. The platform's convenience for local transactions also allows scammers to exploit buyers and sellers.
NFT Art Scams leverage the burgeoning interest in digital art and collectibles, with fraudsters creating counterfeit digital certificates of authenticity or using phishing links disguised as legitimate NFT auctions to mislead investors and art enthusiasts.
Investment Scams, particularly in the cryptocurrency sector, promise high returns with low risk. They exploit the lack of understanding and the hype around digital currencies to lure victims into parting with their money under false pretences.
Romance Scams use fake profiles on dating sites or social media to build emotional connections, eventually leading to financial exploitation under various pretexts, such as emergencies or promises of a future together.
Across all these scam types, a common thread is the exploitation of digital platforms' reach and anonymity to target individuals' trust, financial resources, and desire for connectivity or profit. Protection against these scams involves a combination of scepticism towards unsolicited offers, verification of identities and opportunities through reputable sources, and adherence to safe practices such as using platform-specific payment systems, conducting transactions in person when possible, and never sharing personal or financial information with unverified individuals or entities.
Staying informed about the latest scam tactics, using technology wisely, and practising caution in online interactions are crucial steps in navigating the digital world safely. By understanding the mechanisms of these scams and adopting protective measures, individuals can significantly reduce their risk of falling victim to these increasingly sophisticated digital deceptions.
Keep yourself safe:
https://haveibeenpwned.com - This site lets you see if your email has been used in a data breach. https://www.equifax.co.nz/credit-file-suppression - This site means that you can restrict who can take credit out in your name. (Which is a common goal of fraudsters.
Where to go for help:
https://www.idcare.org
https://netsafe.org.nz
For Facebook Account Hacks: https://m.facebook.com/help/contact/295309487309948?wtsid=rdr_0NyVY293yP5vESiMa
Banking Scam - where to get help:
The following is the contact details for the four main banks in New Zealand.
ASB
https://www.asb.co.nz/banking-with-asb/online-security.html
Call ASB immediately on 0800 ASB FRAUD (0800 272 372), or +64 9 303 0332 if you’re overseas
Westpac
https://www.westpac.co.nz/personal/ways-to-bank/safety-and-security/latest-scams
Call Westpac immediately on 0800 400 600
ANZ Bank
https://www.anz.co.nz/banking-with-anz/banking-safely/reporting-fraud/report-scam-fraud
Call ANZ immediately on 0800 269 296 (+64 4 470 3142 from overseas, charges may apply)
BNZ Bank
https://www.bnz.co.nz/about-us/online-security
Contact BNZ immediately on 0800 735 901
Contact the Police
Once you have reported the scam to your bank contact the Police, here’s how:
https://www.police.govt.nz/advice-services/how-report-crime-or-incident#anchor8
