How to Avoid Fraud – Continued

“A man who does not plan long ahead will find trouble right at his door”. – Confucius

Protect Stock photos by Vecteezy

This page will further highlight the vast number of scams and types of fraud out there. We will touch on vishing, phishing and smishing in more detail, as well as covering money mules, identity theft and job scams, and how to recover and protect yourself!

Identity theft

Identity theft occurs when people attempt to steal your identity, whether it’s on your card, bills or driving license. This information is obtained through phone calls, data breaches or even stealing your post! Fortunately, you can protect yourself in various ways. Shredding documents after use, using strong and different passwords across websites, and being careful where you are putting your information online are some ways you can do so.

If you are a victim of identity theft don’t panic, just follow these steps:

• Call the relevant companies and notify them to freeze your card.
• Ask these companies to change your pins and login information.
• If you feel as though you need further protection, call the police or the relevant insurance companies to protect yourself against any prosecution.
• Visit Action Fraud site to report that you have fallen victim to a scam.

Money mules

Money mule schemes involve scammers asking to transfer money into your account, before transferring it into a different one to ‘clean’ it (this is a form of money laundering). This often appeals to students who are low on cash as a way to make some easy money. Don’t get tempted by the lure of the easy money, as doing so will prevent your ability to have a bank account and credit card in the future!

Job scams work similarly to money mules as they offer some quick and easy cash – but don’t be fooled! These scams ask for an upfront fee, often disguised as an ‘administrative fee’. In return, they offer a good salary with low hours, often advertising working from home.

Vishing, phishing and smishing all work by contacting you over the phone, each one through a different channel. Phishing (through email) involves the scammer asking you to click a web link – so be careful not to click any dodgy looking links!

Smishing involves texts, often asking for banking details, which you should never give out! Vishing, (via phone calls), involves number spoofing, pretending to be an authority that requires your personal details. Do not give out any personal information if you are not sure who it is or what they’re asking for!