Avoid Online & Phone Scams, Follow These 3 Rules

Follow These 3 Rules to Avoid Online and Phone Scams

Editor’s note: October is National Cybersecurity Awareness Month. This is the second in a series of blog posts dedicated to educating and informing you about cybersecurity practices. Check out the list below for links to the rest of the series:

The amount of money lost to online and phone scams continues to grow each year thanks to sophisticated scams and victims who can’t spot the red flags.

The FBI’s Internet Crime Complaint Center received more than 800,000 complaints in 2022 resulting in losses of $10.3 billion, up from $6.9 billion in 2021. Victims 60 and older were the most affected age group, losing $3.1 billion in 2022.

Phishing emails, which we’ve previously discussed, are a big part of those reported losses, but it’s not the only way scammers can deceive you into giving them your money or personal information. You could receive a phone call, a text message or see a website popup.

Scammers not only go after individuals but will attempt to go after organizations, hoping someone in that organization will divulge sensitive information.

Here are three rules you need to follow to protect yourself from phone or online scams.

Rule 1: Stop and Think

The main commonality between all these scams is a sense of urgency. If you don’t take care of this “problem” now, you’ll lose money or your private photos will be leaked.

Scammers rely on that sense of urgency to cloud your judgment, forcing you to make rash decisions.

Stop and think about what is being asked of you and ask questions to get more information. Scammers rely on a script, and if you get them off that script, their story won’t add up.

The faster you report the scam, the better chance there is of recovering any money lost or freezing an account so more money can’t be withdrawn.

Rule 2: Hang Up and Call Back

The important thing to remember about these tactics is scammers contact you first. If you get a phone call or email saying there is an issue with your bank account, hang up or ignore the message (don’t click any link within the email) and contact the bank yourself.

If there is a legitimate problem, the bank’s support team will be able to verify that information. More than likely, they will see nothing wrong on their end, and you will have avoided a major catastrophe.

Rule 3: Report it Immediately

If you find out you have been scammed or believe someone you know has been scammed, immediately contact the FBI’s Internet Crime Complaint Center. The faster you report the scam, the better chance there is of recovering any money lost or freezing an account so more money can’t be withdrawn.

There is no promise any money lost can be recovered, but at the very least, your report will help agents prosecute violators so they don’t scam any more people.