Internet Scams: What They Are and How to Protect Yourself from them | Antivirus Software

Internet scams start from the same economic rationality. When it is possible to broadcast to millions of people, someone somewhere will inevitably bite. But not all gimmicks are created equal. While the Nigerian banker may not fool you, other, more subtle scams may fool you. Here's what you need to know.

What is Internet fraud?

Internet scams are a type of fraud. While they can take many forms, they always serve one purpose - to separate you from your personal information or your finances. Most online frauds fall into one of three general categories.

Email money fraud

The so-called tricks of the Nigerian banker make a lot of people laugh, with false formality and strange language. The differences to the Nigerian Banker email scam use this approach as well. The challenge with this type of fraud is that goofy sentences act as a screening tool for spammers. If you still follow despite all the red flags, you choose yourself in a small group of gullible people.

The needy friend

Have you ever received an urgent Facebook Messenger message from a distant friend or acquaintance that expresses some type of emergency? For example, they lost a wallet while on vacation in a foreign country and urgently need you to send money via PayPal, Venmo, or Western Union to help with authentication?

Hacked social media accounts offer a tool for fraud because you are ready to trust the person you think is on the other side of the screen.

Forensic sounding problem

A particular problem for seniors and people subject to debt collection, as some fraudsters use personal information about you or your family to try to coerce the immediate payment of an alleged debtor to address a family emergency.

Internet scams succeed because they exploit natural human tendencies to seek profit and avoid loss. An entire academic field called behavioral economics defines the instinctive choices we make, such as:

Fear of missing out: You can get a big bonus, but only if you act now!

Loss aversion: If you don't act now, you face bigger losses later!

Reference Credit: Fees are just a small amount of your winnings!

How do cyber crooks find victims?

Online fraudsters find victims in several ways:

Phishing email: Perhaps the most common online phishing is phishing when fraudsters send out fake emails to trick you into logging into a supposedly trusted website, such as a bank, social media account, or favorite shopping platform. Nigerian bank scams and the Nigerian Prince are also a type of phishing.

Mobile phishing: Like phishing emails, phishing apps want to trick you into downloading malware to your mobile device.

Fake software: Sometimes called Scareware, it often starts with pop-ups warning you that you have been infected with a virus. It encourages you to click on a link to remove the infection but it installs malware on your computer instead.

Social Media: Popular social media sites sometimes contain scams that encourage you to click on a link that leads to malware. Additionally, people tend to share personal information on these sites, which makes them vulnerable to identity theft and socially engineered scams.

Most of the time, a little bit of vigilance and research can help you avoid online scams. Here are some tips:

Don't post private information on social media: the more you post (including posts of “20 Fun Facts You Never Knew About Me” which are excellent data sources for socially engineered scams), the more empowerment you are for people who want to trick you.

Do not click on unexpected links: If you want to verify, for example, your bank information, go directly to the bank's website and log in there. 

Always ask for documents: If someone tries to pressure you, have them send the documents by US mail. Legal persons and companies will respond to this request.

Don't give passwords to people: Nobody, not even tech support, needs your password.

Do not offer money unless you start the deal: When people need you to give them money, especially when there is no risk to you, there is a huge risk to you. Unless you initiated the purchase or donation, never give money to someone who is in contact with you.

I am already a victim. What should I do?

If you have fallen victim to an online scam, there are a few things you must do:

Report the fraud: Submit a report to organizations like the FTC, the Internet Crime Complaint Center (IC3), and EConsumer.gov.

Contact your bank: Ask your bank to cancel any fraudulent charges. The bank can also issue new debit and credit cards if required.

Run antivirus software and malware programs: If your computer is infected, these programs can remove the virus.

Change your passwords: Be sure to choose the strongest.

Notify your friends and family on social media: If you've been hacked, tell your friends and family so they don't fall victim to someone pretending to be you.

How do I avoid being targeted for Internet scams?

While you cannot prevent a phisher from sending you an email, you can take some steps to avoid it. Make sure the entry-level spam filter is turned on. If fraudulent emails find their way to your inbox, do not click on any links or open the attachments.