Understanding the Netflix Scam and How to Avoid It

Posted on: Jun 5, 2023 | 3 mins | Written by: HDFC ERGO Team

Understanding the Netflix Scam and How to Avoid It

Moving businesses and activities online has been one of the biggest boons in recent years. It not only has made lives more convenient for everyone but also more accessible as well. However, there is an unfortunate side to all online activities. There has been a massive uptick in cybercrimes, which makes cyber insurance even more indispensable.

Cybercrimes have been on the rise, as criminals find new ways to dupe people and scam them. It is highly probable that you would have come across a few of these online scams. However, a recent Netflix scam is taking everyone by storm. If you are someone who uses Netflix, here is everything that you need to know about the ongoing Netflix Fraud.

What is the payment scam of Netflix?

Researchers have uncovered a new Netflix payment scam during the first quarter of 2023. According to the research, the fraud is targeted at Netflix customers. As a part of the Netflix related scam, scammers are using a fake email which is quite deceiving, since it uses Netflix branding.

While some of the fraudsters are responsible for extracting the personal information of existing customers, others have been deployed to steal payment-related information. Here is the modus operandi of the ongoing scam.

A few users received an email that looked suspicious originally, due to the Netflix branding. The subject line of the email usually is “Update required – account on hold”. The email then goes on to say that your account has been temporarily suspended due to a failure to authorise payment.

The fraudsters even provided a link, where users could click and renew their subscription. However, the link will take you to a malicious website, with the intent of stealing your information.

On careful inspection, a few users found that the email was sent from a fraudulent account and not from Netflix.

How to protect yourself?

The payment scam of Netflix is a recent scam and might lose steam in some days, as more people find out about the scam. However, it is important to note that this is not a one-off event and there might be several other similar scams that might come up in the future. It is critical to remain vigilant and on top of these scams. The following are some of the measures that you can take to protect yourself from such scams.

1. Verified apps

It is critical that you use only verified apps on your smartphone, which has a lot of personal information these days. You can check the Appstore for the authenticity of the application and install, only when you are convinced of the app.

2. Secure connection

Always ensure that you are accessing websites and apps from secure networks that have adequate security measures. It is highly recommended to avoid open public networks or free Wi-Fi networks. Since malicious players might be using them.

3. Do not share your personal information

This is a fundamental requirement of using online services and applications. Under no circumstances, should you share your personal information with anyone. A lot of fraudsters pose as bank officials or representatives of financial institutions and try to take your personal information.

4. Updating phone and computer

Another simple way of staying on top of things is to update your phone, computer, applications, and browsers regularly. The latest updates from developers and publishers might contain security patches, which will make it even more difficult for fraudsters to collect information.

5. Be cautious while using payment methods

Whether you are completing a payment in a restaurant, event, completing home delivery, etc. ensure that you always keep your card within your eyesight. If you are using online payment methods, make sure that you use strong passwords and opt for two-factor authentication for payment.

6. Do not respond to suspicious emails or sms

If something does not seem right about an email or SMS, it most probably is not. If you feel suspicious of any such message, do not respond to them. In either case, it might be a good idea to check the sender of the message. Fraudsters are finding new ways to look as authentic as possible, in a bid to steal personal and banking information.

7. Opt for a cyber insurance policy

A prudent way to protect yourself and your finances is to opt for a cyber insurance policy. Cyber insurance for working professionals might be an even smarter way of protecting yourself if you carry around a few work-related devices with you. You can even opt for cyber insurance for student for more comprehensive coverage. Unlike the common notion, these policies are quite affordable and offer a host of coverage against identity theft, theft of funds, cyberbullying and so on.

By choosing cyber insurance for student , you can protect yourself against the Netflix scam and many other frauds that might take place.

Conclusion

The ongoing Netflix related fraud can be avoided by cautioning a bit of common sense. However, to ensure that any such future frauds do not cause you any damage, choosing cyber insurance for working professionals can be a more sensible decision.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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