New, more sophisticated and hard-to-spot online scams are always coming up, so knowing what they are is the first step in protecting yourself from them.
Cybercriminals are getting more and more creative and try to set up new types of online scams to successfully get away with their criminal activity. Despite their ever-greater degree of sophistication, we consumers can detect them and stay ahead of the game before it gets too late.
Below we share with you some of the latest online scams and give you the key tips on what to do if you suspect you might have fallen victim to one of them.
What are the new types of online scams?
Along with better-known scams such as phishing (where the cybercriminal usurps a person's or company’s identity in order to steal the password of their accounts or card PINs), in recent years other types have emerged which are rapidly becoming more widespread. Knowing them is key to detecting and avoiding them. Some of these are:
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Fake job offers. In this scam, cybercriminals offer jobs that consist of simple tasks such as giving out likes on social networks or receiving and sending transfers. To avoid falling victim this scam, one must beware of recruiters that contact you with a succulent offer out of the blue.
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Investment scam. Scammers offer investment opportunities with high returns with a very low initial investment and no risk. If you receive an investment proposal by email, on social media or by phone, be wary of it.
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WhatsApp scam. Criminals pretend to be a family member or friend urgently requesting a sum of money. Do not trust unknown numbers, nor messages that do not give specific data about the person on the other end.
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Deepfake. This consists in using artificial intelligence (AI) and machine learning to create manipulated video, audio and image content and usurp the identity of another person. Through the deepfake, the victim is requested to share sensitive information, such as their personal data or login password to their online banking, or directly transfer money to a bank account.
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Vishing. This is a scam in which, via a telephone call, the criminal pretends to be from a trustworthy company or person in order to obtain personal and sensitive information from the victim. The victim trusts the scammers because they have obtained the victim's information via social media or forums where they have shared their content. In these calls, the victim is informed about a transaction and they must download an application to authorise it.
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Pharming. The objective here is to redirect users to fraudulent websites or manipulate their computer systems in order to compile delicate information. In pharming, the victim is taken to a fake website, such as their bank’s online banking portal, and there sensitive data is requested of them, such as their password or bank card PIN, without them being aware of the scam.
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Whaling or CEO fraud. This scam consists of the criminal impersonating an executive in the victim’s company. Then by using an email account very similar to the original and copying his/her signature, the victim is ordered to send confidential information, grant access to their computer system, or is made to transfer them money.
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Wangiri. In this online scam, a bot repeatedly calls the victim’s phone number and hangs up before he/she picks up. When the user checks the number on the Internet, it takes them to a fake site of a supposedly trusted supplier. Then, if the victim calls the scammers back, they begin to charge them money, because it is a pay call, which notably increases their phone bill.
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Catfishing or romance scam. This consists of creating a fake digital profile on social media and dating website in order to fool the victim and get them to send money to the con artist or information on where they live. As the scam goes on in time, the victim tends to share more and more sensitive data with the fraudster.
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Scams on online platforms for trading second-hand goods. On websites and apps for trading second-hand goods, we can find cybercriminals who pose as fake listers or buyers who, under any false pretext, ask you to make transactions outside the application and thus perpetrate their scam. Be wary of anyone who has an air of urgency; verify their profile and think twice before accepting hard-to-resist offers.
How do you protect yourself from these new online scams?
Despite their sophistication, there are certain recommendations for detecting these type of online scams before they get out of hand. According to the Spanish Security Institute (Incibe), the best defence we have against these digital frauds is being wary, because at entities such as Banco Sabadell, for example, we will never ask for sensitive data via text message, email or phone, and nor will we ask you to transfer your funds to a secure account.
There are, however, other recommendations that you can take to avoid falling victim to an online scam, such as:
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If you aren’t sure about an email, message or call you have received, ignore it and don’t call, text or email them back.
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Never click on a link in an email or message if you are not sure who sent it to you. If you do, your device might get infected immediately.
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Only download applications from your store and ignore the instructions of a message to download an application from another location. The only reliable source for downloading apps is your App Store in iOS or Play Store in Android.
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Keep your data under lock and key. Don't give out passwords, keys, codes or personal or financial information such as your card details.
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Beware of requests for money purporting to be from family or friends from numbers you don't recognise. Check their authenticity by other means.
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In certain sensitive transactions, such as an online purchase, always use dual-factor verification (such as your phone) for a greater degree of security.
- Always keep your antivirus and operating systems up-to-date, not only on your computers but also your mobile phones.
This may interest you: How to have better cybersecurity in any online transaction
If you suspect you have been a victim of some type of scam, contact us immediately so we can help you. We remind you that our service team is available 24 hrs, seven days a week, at (+34) 963 085 000.
Photography by Anastasia Nelen on Unplash