Faisal Abidi Explains Top Internet Scams And Frauds To Avoid

Did you know that more than half of the global population is online today? We live in a world where it is hard to imagine our daily lives without the internet. Since it is not limited to a particular group of people, anyone can get access to the internet. In return, it makes it a powerful tool for humanity. But, it also gives rise to various threats. With the exponential growth of the internet, we have also observed an increase in scams and fraud cases.

According to Federal State Commission, millennials are more vulnerable to online scams and frauds than adults. It is recorded that the age group of 20-29 has the highest number of victims of online scams, which is why we will be taking an in-depth look at this concerning issue today.

Here are common internet scams and frauds to be aware of, with inputs from Faisal Abidi:

Phishy Email Frauds

Phishing emails leave a significant negative impact on consumers and businesses. This scam is widespread and continuing to evolve. Scammers use social engineering tricks to fool internet users and make them click on specific links. Usually, this communication happens over SMS, social media, or emails.

Nigerian Frauds

It is probably one of the most popular scams where an individual or fake organization sends you motivational, emotional, or convincing messages to ask you a small number of fees for some help. In return, they promise to give back more money. Moreover, they ask for more and more money in the name of legal matters and transfer costs and make us believe that we will get huge returns, which never happens.

Credit Card Scams

We receive hundreds of email which sounds “too good to be true.” They provide us with bank loans, ask us for our personal information, and what not! Just think for yourself, how can any company offer you a loan or a credit card, no questions asked, without knowing anything about you, over an email?

Online Dating Frauds

Thousands of people globally fall victim to these kinds of scams. Online dating scams are sometimes complicated to identify. Here, spammers use emotional or romantic messages to make friends online to steal their personal information and money. Youngsters are more vulnerable to these frauds, mostly on social networking platforms like Facebook or Instagram and on dating apps such as Bumble and Tinder.

Fake e-commerce website scams

With the increase in online shopping, many scammers are using this opportunity to steal people’s money. Surprisingly, there are more fake online shopping websites than authentic ones. These fake websites take orders from people, ask them to make advance payments, and promise them shipping. Unfortunately, all promises are fake as they disappear as soon as they get their hands on your money.

The most incredible tool we have to protect ourselves from scams and frauds is knowledge. The more updated and aware of the latest scam trends, the easier it will be to save yourself from falling victim. Remember, knowledge is power!