How to lock out the online scammers
BEWARE OF WHAT YOU ACCIDENTALLY SHARE WITH FRAUDSTERS, WARNS
CRIMINALS continue to cash in on the cost-of-living crisis, online shopping and social media, using ever-changing ways to steal identities to carry out financial fraud.
Identity fraud rose by more than a fifth last year, according to data analytics firm Experian. That is when crooks steal your personal information so they can get their hands on your bank account and credit card details or take out credit and services in your name.
Shoppers were especially vulnerable during November and December, the festive shopping season, due to the spike in online transactions and reduction of business resources to investigate potential fraud.
Fraudsters typically use stolen information such as usernames, passwords and credit card numbers to commit fraud.
Victims have no idea this is taking place until it is too late and then must go through the hideous process of getting their finances back on track and trying to reclaim stolen funds.
Methods used to get their mitts on your personal details include phishing attacks via bogus emails and texts, as well as fake goods for sale, to lure you in to click on dodgy links and disclose information.
They also trawl social media sites to gain vital bits of information from you and your contacts, so they can build up your identity.
A mention of a special birthday, links to family members and posts on parties and get-togethers all give away vital nibs that fraudsters can use to scam you.
Figures from UK Finance show losses related to card identity theft increased by 86% in the first six months of 2022, at £21.4million, up from £11.5million in the same period of 2021.
James Jones, head of consumer affairs at Experian, says: “ID fraud is probably the most prevalent crime in the UK today.
“Discovering that your identity has been compromised can be very stressful and cause significant inconvenience, so it makes sense for us all to take some simple steps to try to keep our information secure and reduce the risk of being targeted. These include reducing how much information we share through social media and enabling multi-factor authentication security, such as biometrics, for all our online accounts.”
While huge amounts of fraud are detected and stopped by financial firms, millions of pounds are still stolen from victims each year.
Some £609million was pinched in the first six months of 2022, while £584million of fraud was prevented with antifraud prevention systems used by banks.
James adds: “Vigilance is also essential. Always be suspicious of unsolicited calls, emails, and texts.
“Even if you think the contact might be genuine, contact the company directly using details you already have for them or can quickly look up.
“It might take you a few extra seconds, but it could save you weeks or even months trying to reclaim your identity.”
WAYS TO HELP KEEP YOUR IDENTITY SAFE
Avoid sharing sensitive personal information on social media, such as your mother’s maiden name, home address, date of birth or dates when you’re away. It’s important to make sure your privacy settings are up to date across all platforms.
When you move home, always reregister at your new address on the electoral roll as soon as you can. This helps ensure your name is no longer registered at your previous address, which could provide an opportunity to fraudsters. It’s a good idea to set up mail redirection for a while too.
Make sure you have an individual unique password for each online account that you have. This means fraudsters are less likely to gain access to multiple accounts if they do manage to access one of them.
A mention of a special birthday, links to family members and posts on parties and get-togethers all give away vital nibs that fraudsters can use to scam you.
Ensure your home wi-fi has a strong password, never sign in to password-protected accounts, banking or other financial services on unsecured public wi-fi, and make sure you have up-to-date antivirus software on your devices.
Be cautious when you get emails or text messages containing links or attachments. If in doubt, contact the organisation directly using details you know are correct. Type in a website address from scratch, rather than following links.
Keep your private documents safe at home and be careful when travelling with important ID documents. Always destroy mail or documents containing personal information when it is no longer needed. Never simply dump paperwork with your address or any other personal info in your recycling bin – always shred them.
Regularly check your free statutory credit report for anything suspicious, such as new applications or accounts you didn’t initiate. You can also monitor your credit score for free on the Experian website to help identify any significant changes that could be a sign of fraud.
You can keep an eye on your credit report at: experian.co.uk, equifax.co.uk and transunion.co.uk