Over the last few years, uncertainties and disruptions caused by COVID-19 have continued to create opportunities for crime and fraud. Criminal elements have been quick to seize opportunities to exploit the situation by adapting their modus operandi and engaging in new criminal activities such as sophisticated online/digital fraud attacks on businesses and consumers alike. Consequently, online fraud cases have exploded and digital fraud has reached alarming, never-seen-before levels with identity theft being one of the biggest problems for consumers in the digital space

How to protect yourself from digital fraud

Most people would consider themselves to be unlikely victims/targets of cybercriminals and online attacks. The reality is that everyone with a digital footprint is at risk of online fraud and should therefore exercise extreme caution, be extra vigilant and always on the lookout for suspicious activities when online. Protect and safeguard yourself by following these guidelines:

1. Do not disclose banking or personal information to any third parties or unknown and untrusted sources.
2. Never send your credit card or any other personal information by email and refrain from giving out any of this information online through a chat window.
3. Use secure payment methods and avoid any arrangements with a stranger that asks for upfront payments via money order, wire transfer, international funds transfer or electronic currency such as Bitcoin etc.
4. Limit your online activity while using public/free Wi-Fi and avoid accessing your bank accounts, email or visiting websites that save and store your personal passwords or credit card details during such times.
5. When shopping online, only shop at sites that use secure connections - check for “https” in the address or look for the lock icon in the status bar of your web browser – and platforms that use two-factor (2FA) or multi-factor authentication (MFA).
6. Don’t become a victim of spoofing -  keep a lookout for signs that an email address or organisation’s website has been spoofed for example, unusual grammar, subtle changes to email addresses or variations in logos and branding.
7. When dealing with unknown or uninvited contacts or businesses over email or on social networking sites, always consider the possibility that the approach may be fraudulent.
8. Never respond to unsolicited communications (spam) or click on unverified links. Do not rush or react too quickly as scammers often use panic tactics to elicit a reaction.
9. Reduce your online security risk by disabling the ‘remember me’ check box/feature when logging into your online accounts as this will automatically sign you in the next time you go back.
10. Immediately change your passwords and PINs if you suspect your accounts or online security has been compromised.
11. Raise the alarm about suspicious online activities or fraud attempts directly with the implicated source - contact the organisation or service provider being impersonated to report such.
12. If you believe you have been the victim of online identity theft or fraud, notify law enforcement authorities and the financial institution/credit card company immediately.

Stay safe

While we may not be totally able to escape online fraud and various digital scams, not letting one's guard down and knowing how to act in the aftermath of being a victim is vital.

Click here for more tips on how to avoid falling victim to digital fraud.

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