What to do if You’ve been Scammed Online?

Posted on: Jul 25, 2022 | 3 mins | Written by: HDFC ERGO Team

What to do if You’ve been Scammed Online?

Online scamming is a day-to-day activity in today’s world. There are a lot of con artists out there, and regrettably, some of them are successful in defrauding unknowing victims of their money. Nowadays, you run the risk of being conned when doing your online shopping, looking for a job, applying for a loan, or planning a trip. Even SMS texts are becoming a target for cybercriminals, who use them to send fraudulent messages. One crucial and simple way to get over the loss caused due to online scams is cybersecurity insurance, which gives you various coverages.

Scammers are often quite persuasive. They make calls, send emails, and text messages to us to obtain our personal information, such as our Social Security numbers, account numbers, or money. Additionally, they excel at what they do. So, to make you more aware of these types of scams, we have managed to list a few such scams happening almost daily.

Most Common Types of Scams:

1. Phishing:

You get an email that appears to be from a well-known company that you trust, like your bank, university, or favourite store. The message drives you to a website, often to verify personal information such as passwords and email addresses, where it takes your information and leaves your machine vulnerable to assault by fraudsters.

2. Fake Shopping Websites:

Numerous fraudulent websites advertise "excellent prices" on popular goods. These websites frequently feature URLs that are reminiscent of the businesses they are emulating, such as "Amazon.net." If you purchase something from one of these websites, you will likely receive a fake item in the mail—or nothing at all.

3. Disaster Management Scam:

Whether it's a pandemic or a weather-related crisis, con artists strike during these times. Scammers will take advantage of a catastrophe or natural disaster to defraud you of your money while disguising themselves as a legitimate help agency. You unknowingly give credit card information or other e-payment information by believing you are donating to an emergency relief fund.

4. COVID-19 Scams:

The surge in COVID-19 communications is being exploited by scammers, who mask their schemes as official COVID-19 transmissions. Scammers may also contact you via text messages, automated calls, dangerous websites, and emails.

5. Travel scams:

Scammers selling fake COVID-19 travel insurance plans that promise to pay for losses for any cause at no additional cost are a brand-new threat for 2020. The lack of protection offered by these plans is something that buyers learn the hard way. Travel insurance policies often do not provide coverage for claims resulting from "known, anticipated, or predicted disasters, epidemics, warnings, or travel advisories, or dread of travel."

6. Social networking:

Social networking plays a role in another vacation fraud. Even the savviest of tourists can be tricked by scammers who publish attractive images on social media platforms like Pinterest, Twitter, and Instagram. You will be given the option to either fill out a survey full of personal information or expose your computer to covertly dangerous malware after clicking the picture, which tempts clicks with the promise of a free vacation or airline tickets. Check to see whether the social network account you're on is legitimate. All major airlines and travel websites provide direct links to their social media accounts from their separate web pages.

7. Antivirus software scam:

Ads and pop-ups for fake antivirus software attempt to convince you that your computer is afflicted with a virus (or several viruses) and that you can solve the issue by installing their software.

They do this in different ways:

a. They get hold of the data on your credit card.

b. Access to your computer is gained by them.

c. Instead of antivirus software, you receive a virus, malware, or ransomware when you click the download link.

Always be aware of pop-ups and advertisements that demand action right away or are challenging to dismiss. You lessen the danger of scareware and make sure to install, update, and utilize genuine antivirus software.

8. Pre-approved notices:

You get a letter or email stating that you have been pre-approved for a bank loan or a credit card. This scam may target those who are struggling financially because it guarantees rapid approval and alluring credit limits. The problem? When you sign up, a charge is due upfront. Although annual fees are something credit card issuers do impose, you will never be asked to pay them when you apply.

In general, avoid offers that promise a "100% guarantee," demand payment upfront, or ask for cash, money transfers, or gift cards as payment.

Ways through Which You Get Scammed during Pandemic:

● Websites selling fake products: Face masks, hand sanitizer, disinfection wipes, and other popular items that never show up are sold on these websites. Purchase only from reputable retailers.

● Health Organizations that are fake: Scammers use the World Health Organization (WHO) and the US Centres for Disease Control (CDC) as fronts to promote treatments, diagnostic procedures, and other COVID-19 material.

● Financial offers that are fraudulent: With proposals meant to steal your financial information, scammers may assume the identities of banks, debt collectors, or investors.

If, even after taking all the measures, you get scammed, then listed below are a few steps that you need to follow:

Top 3 Things to do if You are Scammed Online:

1. Immediately stop making payments:

Some con artists target victims of recent fraud by posing as an enforcement agency that can restore all of your money in exchange for a fee. Never part with money to someone who promises to return your missing funds.

2. Stop all contact with the person or organization:

Do not carry on talking after you realize you are being conned. Put the phone down. Respond not to emails or letters that con artists have sent you. Block the fraudster from contacting you if you've been the victim of an internet scam.

3. Contact the bank or any of the services you send money through:

Contact your bank right away if you've fallen victim to financial fraud, a credit card scam, or identity theft. The possibility of recovering the money increases with the speed at which your bank learns about it.

Top 3 steps to follow immediately if you are scammed online:

1. Recover your identity stolen:

To lessen your risk of financial loss or other damages, you must take action immediately if you think you are a victim of identity theft.

2. Report to the concerned authorities:

It's crucial to report fraud, whether you're doing it for yourself or someone else. By reporting, you can get in contact with someone who can provide guidance tailored to your circumstances. It also aids others in avoiding frauds of a similar nature.

3. Get in touch with your contacts:

You have to alert your loved ones against scammers. Inform your industry organization and other contacts about the fraud if you run a firm.

Conclusion

Even after taking all the precautions, if you've fallen victim to a scam, the best way to recover from it is through cyber security insurance. Insurance helps you to recover from the losses faced due to cyber-attacks. Cybersecurity usually covers data breaches that involve sensitive personal information. There are various types of coverages that you can take to safeguard yourself and your family from online scams.

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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