6

ways to protect yourself from online scammers

By Jessica Hall October 20, 2022

The holiday season is fast approaching and along with a rise in consumer spending comes a rise in fraud activity.

The American public needs to know fraud has evolved. You shouldn’t be waiting on monthly, quarterly reports. You should be checking your accounts regularly.

– Mike Steinbach, head of Citibank’s fraud prevention unit

The number of older victims has increased. In 2021, more than 92,000 victims over the age of 60 reported losses of

 $1.7 billion

 to the Federal Bureau of Investigation.

That’s a

74% increase

in losses compared with that reported in 2020.

All ages and all demographics are at risk. No one is immune — everyone is a potential target. But the elderly have savings, IRAs and other retirement accounts. Fraudsters go where the money is.

– Steinbach

Cybercrime is on the rise. Javelin Strategy and Research’s “2022 Identity Fraud Study: The Virtual Battleground” found a 90% increase in account takeovers from 2020 to 2021.

Here are six steps you can take to help you avoid scams, according to Citi, the FBI and AARP.

Fraudsters have gotten smarter and can closely imitate emails and text links from real companies.

Watch out for scammers who’ve learned how to spell.

Laptop Full

Click here!

Burst with Arrow

Don’t provide any personal account or identifying information in response to any communication you receive by phone, text or email.

Be skeptical of unsolicited messages.

Vary the passwords you use for all financial accounts and ideally change them every three months.

Use multiple passwords.

PASSWORD

Instead, contact your bank yourself to review your account activity and information.

Don’t take calls from unknown numbers.

Resist the urge to act quickly. Criminals urge their victims to act fast to protect a device or account.

Slow down.

Explain scams that target older adults to grandparents and other older family members and friends.

Educate family and friends.

Keep reading on MarketWatch.

Photos by:  iStock/Getty Images Story by:  Jessica Hall Google Web Story by:  Amelia Langas

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