Online fraud, due to its increasing complexity and sophistication, is becoming an ever-growing problem for individuals and businesses. In order to tackle online fraud effectively, the awareness of online fraud detection should be highlighted and the prevention methods must be advanced with the times.
The most common types of online fraud are as follow:
- Identity Theft
Identity Theft is one of the most common types of online fraud. It can occur when visitors go online shopping or receive any product or service by revealing their personal information that will often include name, date of birth and residential address, which may provide criminals sufficient information to access your identity for credit cards, loans and other illegal purposes.
Always try not to reveal your credit card and debit card numbers, PINs (personal identification numbers), passwords and other personal information, and be aware of your bank account statements and credit card bills.
Phishing is becoming one of the most modern forms of online fraud. It occurs when an email appears to be sent from a well-known company and requires you to go to a specific website for various reasons. This website appears increasingly like the legitimate ones, which often deceives the recipient, thereby causing them to leave personal information to be used for identity theft.
It is important to know that legitimate companies rarely send an email to ask for clients’ information randomly. Whenever you receive an email that looks suspicious, it is better to make a call to confirm the information you received is legitimate.
- Credit Card Fraud
With the substantial increase in online shopping, credit card fraud is now becoming one of the greatest concerns in terms of online fraud. It can occur in various ways, including sending personal information to fraudulent websites or insecure via links , by credit card information being illegally accessed at the merchant servers , by filling in credit card information on insecure forms.
One of the most effective ways to protect yourself is to always take precaution before revealing your credit card information and always using secure, legitimate, official websites.
In light of the above, in order to avoid becoming a victim of cybercrimes, it is important to accept responsibility for our own security and safety online, which means that we need to use safe online practices and be aware of the ways that criminals try to obtain personal information online.