What you need to know about online scams. 

With easier internet access across the world, the amount of internet scams has risen and can take form in many variations. Online scams refer to fraudulent schemes conducted through the internet or digital platforms with the intention of tricking or defrauding individuals for financial gain. The scammers may use various techniques to trick or manipulate victims into providing personal information, sending money, clicking malicious links, etc. 

Online scammers all have an end goal, and it could vary depending on the type of scheme they are using. The main things they are looking to obtain are:

- Money – Scammers may do this by tricking individuals into making payments for fake products, services, or investments. They may convince victims to send money under false pretenses, such as claiming to need financial assistance for emergencies. 

- Personal information – Scammers often seek to collect personal information that could be used for identity theft or other fraudulent activities. This could include a victims social insurance number, bank account details, credit card numbers, login credentials for various online accounts. This information can be used to commit financial fraud or even be sold.

- Access to online accounts – Scammers may attempt to gain access to victims’ online accounts such as email and social media accounts. Once they gain control, they can exploit these accounts for further financial gain, contacting the victim’s contacts to scam them as well. 

- Spread malware or engage in cyber crime – Some scammers intend to spread malware or engage in other forms of cyber crime. They may trick their victims into download malicious software, or clicking on link, which can lead to data breaches, ransomware attacks or the compromise of sensitive information. 

The people who commit these scams have become increasingly skilled at using their tactics to deceive victims. Their ability to make scams appear legitimate can make it difficult for individuals to detect any potential threat. To best protect yourself, it’s important to educate yourself against the more common scams. Lack of awareness can make the victim more likely to fall for the scam as they have not recognized any warning signs.

 
If you believe you have been a victim of an online scam, there are steps you need to take quickly to prevent any harm.

1. Stop all communication – If you suspect you are dealing with a scammer, immediately stop all communication. 

2. Change passwords – Change the passwords for all your online accounts. This could be social media, emails, bank accounts, streaming services, any account that holds sensitive information. 

3. Inform you bank – If there is a chance the scammer gained access to any of your accounts, it’s important to reach out to your bank. They can check your account for any unauthorized access, lock credit cards, and send new debit cards if necessary.

4. Report the scam – Report the scam to the proper authorities. This could include reporting to your local police department or fraud departments such as the Canada Anti-Fraud Centre.

5. Warn others – Inform your friends and family that you have been scammed. By warning them, they can be prepared if they start to receive any suspicious messages or emails and it can prevent them from falling victim to the same scams. 

6. Monitor your accounts and credit reports – It is important to monitor your all your accounts, credit card statements, and credit reports for any suspicious or unauthorized activity. If you notice any suspicious transactions, contact your financial institution right away.

7. Be cautious of future scams – Learn from your experience and exercise caution while engaging in any future online activities. 
The earlier you act, the better your chances of preventing any losses. 

By educating yourself and being aware of the possible dangers of online scams, you can also protect yourself in a few different ways. 

- Do not share any personal information such as logins/passwords, credit card information, any other personal information within messages to friends and family. 

- If friends or family are asking for financial help through online messages, give them a quick phone call and speak to them directly before sending them any money.

- Remember that if the price of something seems too good to be true, chances are it could be a scam. 

- Take proper safety measures when buying and selling online. 

- Use protected online payment methods such as PayPal, Google Pay, Apple Pay, etc. 

- Don’t trust unknown files or links. 

If you have fallen victim to online scams and have had your finances be affected as a result, there are options to help you move past it. 

If you are looking for advice, or a second opinion about your debt, it does not cost anything to talk about your options. Every financial situation is unique and viable options can differ from person to person. A conversation free of judgment and cost, is the first step to determine options for debt that make sense for you. For a free consultation, please call or text (506) 645-1814 or email jaime@tackledebt.ca; or visit www.tackledebt.ca.