Beware! This is the most common online fraud mode

Beware! This is the most common online fraud mode


The mode of online fraud, cybercrime or cyber crime, is increasingly widespread and can target anyone. Even when we don't feel smart enough and are careful, online fraud can still ensnare us and our relatives.

No kidding, the amount of online fraud can be very diverse. Starting from only hundreds of thousands, up to tens of millions!

So how do you outsmart it?

One of the important points is to understand the modes of online fraud that are most often carried out by the perpetrator. By knowing the modes that are often used, we will be more alert when we want to make transactions with other people.

Recognize the Mode of Online Fraud to Prevent It

When we become victims of online fraud, the first step that must be taken is to report the online fraud that we experience. However, of course, we do not expect that to happen.

Therefore, it is very important to recognize the various modes of online fraud so that we can try to prevent them.

1. Lucky Draw

The lucky draw mode is not only carried out in cases of offline fraud but also online. Perpetrators usually claim to be from technology companies, well-known brands, or marketplaces.

By bringing 'big names' and the lure of gifts, the perpetrators tried to ensnare their victims to transfer a sum of money under the pretext of 'administration money' to redeem the gifts.

To convince the victim, the perpetrator will usually call and play clever communication tricks. 

2. Phishing

Phishing is a trick to trick the target to copy user's personal information for further abuse. Phishing usually targets credit card owners and online lenders without collateral.

With a phishing link that leads to a fake page, the target will be asked to fill in complete personal data, including credit card information and its pin. Armed with this data, fraudsters will sell this data information or use it to drain your money.

3. Ponzi Schemes

Ponzi Scheme or Ponzi Scheme is similar to fraud under the guise of MLM, it's just that the scope of this mode is in the investment world. In a way, this type of fraud is more familiarly known as a fraudulent investment scheme.

The perpetrator will offer the victim to make an investment with lucrative and almost unreasonable profits. At the beginning of the investment, usually, the victim will get a profit to lure the victim to invest more, until finally the investment process stagnates and the money just disappears.

4. Verification Code

Fraud with an OTP (One Time Password) verification code means that the fraudster tries to enter and use your account, be it a social media account, marketplace, or online transportation, then asks you to send the verification code to the perpetrator.

This verification code is usually 4-6 digits long and serves as confirmation that you are indeed entering via a new device or a suspicious device.

Just like an ATM or credit card PIN, this verification code is your personal property and may not be leaked to any party, except for your personal access. If someone asks you to send this code, it means someone is trying to break into your account to commit fraud.

5. Fake Payment Request Messages

This model is also very familiar. Suddenly someone asks you to send some money to pay off the rent, or some other mode. Sometimes they just use simple sentences like, “Change the account number here, ok…”

If you are not currently involved in a transaction with anyone, then it certainly won't have any effect on you. But if by chance you are in a moment that is similar to a fraudster's trick, be careful.

Always make sure you make payments to the account of the person you made a deal with before.

Conclusion: The key is to be careful

Do not easily believe, do not easily panic! Usually, online fraudsters take advantage of these two gaps in their victims. We must adhere to the element of trust in buying and selling online, but being careful should still be the main thing that you must do.

Also, avoid panicking quickly when there is an urgent problem. When you panic, you often don't think long. And this is what makes many victims fall for the traps of online fraud.

For a specific discussion of online shopping scams, you can read our previous article: 11 Best Ways to Avoid Online Shopping Scams.

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