How Can Online Fraud Be Reduced? A Guide From FraudTrac

In today’s digital world, internet fraud threatens not just consumers but also businesses. The latest data breaches at big brands and the rise in phishing emails highlight the growing threat that emails and online scams pose to organizations. Many online consumer safety measures are also effective for protecting commercial enterprises.

While organizations must have individual security measures in place, a company-wide cybersecurity plan is essential to protecting critical company data. IT-focused businesses are more likely to have implemented all measures necessary to safeguard their customers’ personal information. On that note, let’s take a look at how our actions can help reduce online fraud reporting.

 

1. Understand Who Is Asking

Most banks won’t contact you through text message or email to request sensitive information like account and social security numbers. Financial institutions won’t ask you to confirm your identity in this way, either.

Never send sensitive information such as tax ID, social security number, bank details, or login/password combination through an email or text message. If you have to send sensitive data to your bank through email, make sure to do so only through the bank’s encrypted online banking system.

These emails, like phishing scams targeting banks, may appear to be from a reputable institution but want private financial data. Call to verify any requests for personal or financial information sent by email, even if they appear to be from a trusted source such as your bank or a vendor.

2. Don’t Click On Suspicious Links

The most popular methods used to trick individuals into falling for scams are sending them enticing links or emails, or text messages that appear to come from a legitimate source. They may seem legitimate and catch your eye with promises of a jackpot or a job in a foreign country.

Do not click on any of these links since they may take you to a malicious website that steals your mobile device’s sensitive information. Whenever you get a call that isn’t one you were expecting, you should just hang up.

The internet has become one of the most common ways for fraudsters to defraud unsuspecting victims of banking scams, which affect thousands annually. You can reduce your risk of falling victim to internet fraud by taking some simple precautions.

3. Keep Your Financial Information Elsewhere

Commercial customers should use a single computer for all corporate banking needs. Don’t use your bank’s computer to do anything other than banking-related online transactions; use a public or private computer instead. Before tossing out the equipment that was utilized to handle the company’s financial transactions, be sure that all private data has been securely stored elsewhere and that the hard disk has been completely erased.

online criminal

If you or someone you know wants to report fraud online, then FraudTrac is your best option for it. We are an online community platform that can help you report scams online, file a scam report, and track frauds with our online fraud tracker. Contact us today to learn more about us.

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