Cybersecurity expert shares tips to outsmart scammers
- Replies 18
In this digital age, scams have become relentless, cunning, and constantly evolving, making it a real challenge to stay one step ahead.
From traditional romance and investment scams to the recent phishing text scams, fraudsters are always on the prowl, ready to pounce on unsuspecting victims.
Banking fraud investigation veteran and cybersecurity expert Mark Broome said that traditional romance and investment scams still exist.
'I think, just by sheer volume, the community is more aware now of [scam] text messages.'
Scammers are also allegedly quick to adapt, constantly changing their tactics to outwit their victims and the authorities.
'They adapt really, really quickly and I guess they don't have too many overheads,' Broome added.
'They look for ways that they can try to convince customers and from inside the bank's point of view, it's really interesting just watching.'
'It's a bit of a cat and mouse game.'
'We watch a certain way that they can try to target a customer, then within a week, they've put that one in the back pocket, and they've moved on to something else.'
One of the most common scams currently making the rounds involves phishing text messages claiming that parcel delivery details are incorrect.
'That seems to be the main one we're seeing at the moment that's targeting consumers,' Broome claimed.
These scams have been particularly prevalent since the Black Friday sales in November and have continued throughout the festive season.
While many consumers are aware of these scams, the busy and stressful Christmas period increases the likelihood of falling victim to them.
If you find yourself ensnared by one of these scams, Broome, who currently works at ANZ, advised victims to contact their banks immediately.
'It's really important that you contact your bank because we can put extra security on your account to try to protect you,' he explained.
'We can reset passwords, we can reset all those credentials, we can stop cards, reissue them, do all those kind of things and kind of cover it off that way.'
Banks can also reportedly implement additional controls to prevent any auto-approvals.
'There's a myriad of things that we can do to try to protect customers who want that extra layer of security.'
In addition to phishing scams, there are also phone scams to be wary of.
His advice? 'Just hang up.'
'We're getting the job ones that are coming through asking, “Do you want to pick up a bit of part-time work?”' he shared.
Broome often plays along with these scams to understand how they work and gather information that could help identify the culprits.
'We see if we can get any additional information that might help us work out who's sending them, but most of the time, I just cancel them.'
Then there are the more sinister scams that involve impersonating banks and asking customers to move funds.
'We saw a lot of those around this time last year,' Broome said, adding that romance scams and investment scams are still prevalent.
Another scam to be aware of involves purchasing non-existent items on marketplace-type apps.
'I think it's just really important to make your payments through a reputable channel,' he advised.
'If you get the opportunity, make sure that you inspect the item before you commit to it as well. There are a lot of examples where the actual item doesn't exist, and we see customers pay money for them.'
Understanding the Scam Landscape
Scams are not limited to the examples mentioned above. They can take other forms, from email scams to social media scams, and even scams involving cryptocurrencies.
Email scams often involve a fraudster posing as a reputable company or individual and asking for personal information or money. Social media scams can involve fake profiles, fraudulent ads, or links to malicious websites. Cryptocurrency scams can involve fake investment opportunities or fraudulent initial coin offerings (ICOs).
The key to avoiding scams is to stay informed and vigilant.
Always be sceptical of unsolicited communications, especially those asking for personal information or money.
Use secure and reputable payment methods when shopping online, and never share your personal or financial information over email or text messages.
If you suspect you've been targeted by a scam, report it to your local law enforcement agency and your bank immediately. They can provide advice and assistance, and your report can help protect others from falling victim to the same scam.
To stay updated on the latest scams, you may visit the ACCC’s Scamwatch website or read through our very own Scam Watch forum for the latest news.
Members, what are your thoughts on these tips? What are your other tips for avoiding scams? Let us know in the comments below!
From traditional romance and investment scams to the recent phishing text scams, fraudsters are always on the prowl, ready to pounce on unsuspecting victims.
Banking fraud investigation veteran and cybersecurity expert Mark Broome said that traditional romance and investment scams still exist.
'I think, just by sheer volume, the community is more aware now of [scam] text messages.'
Scammers are also allegedly quick to adapt, constantly changing their tactics to outwit their victims and the authorities.
Cybersecurity expert said that scammers adapt quickly and change their tactics fast. Image source: rawpixel.com on Freepik.
'They adapt really, really quickly and I guess they don't have too many overheads,' Broome added.
'They look for ways that they can try to convince customers and from inside the bank's point of view, it's really interesting just watching.'
'It's a bit of a cat and mouse game.'
'We watch a certain way that they can try to target a customer, then within a week, they've put that one in the back pocket, and they've moved on to something else.'
One of the most common scams currently making the rounds involves phishing text messages claiming that parcel delivery details are incorrect.
'That seems to be the main one we're seeing at the moment that's targeting consumers,' Broome claimed.
These scams have been particularly prevalent since the Black Friday sales in November and have continued throughout the festive season.
While many consumers are aware of these scams, the busy and stressful Christmas period increases the likelihood of falling victim to them.
If you find yourself ensnared by one of these scams, Broome, who currently works at ANZ, advised victims to contact their banks immediately.
'It's really important that you contact your bank because we can put extra security on your account to try to protect you,' he explained.
'We can reset passwords, we can reset all those credentials, we can stop cards, reissue them, do all those kind of things and kind of cover it off that way.'
Banks can also reportedly implement additional controls to prevent any auto-approvals.
'There's a myriad of things that we can do to try to protect customers who want that extra layer of security.'
In addition to phishing scams, there are also phone scams to be wary of.
His advice? 'Just hang up.'
'We're getting the job ones that are coming through asking, “Do you want to pick up a bit of part-time work?”' he shared.
Broome often plays along with these scams to understand how they work and gather information that could help identify the culprits.
'We see if we can get any additional information that might help us work out who's sending them, but most of the time, I just cancel them.'
Then there are the more sinister scams that involve impersonating banks and asking customers to move funds.
'We saw a lot of those around this time last year,' Broome said, adding that romance scams and investment scams are still prevalent.
Another scam to be aware of involves purchasing non-existent items on marketplace-type apps.
'I think it's just really important to make your payments through a reputable channel,' he advised.
'If you get the opportunity, make sure that you inspect the item before you commit to it as well. There are a lot of examples where the actual item doesn't exist, and we see customers pay money for them.'
Understanding the Scam Landscape
Scams are not limited to the examples mentioned above. They can take other forms, from email scams to social media scams, and even scams involving cryptocurrencies.
Email scams often involve a fraudster posing as a reputable company or individual and asking for personal information or money. Social media scams can involve fake profiles, fraudulent ads, or links to malicious websites. Cryptocurrency scams can involve fake investment opportunities or fraudulent initial coin offerings (ICOs).
The key to avoiding scams is to stay informed and vigilant.
Always be sceptical of unsolicited communications, especially those asking for personal information or money.
Use secure and reputable payment methods when shopping online, and never share your personal or financial information over email or text messages.
If you suspect you've been targeted by a scam, report it to your local law enforcement agency and your bank immediately. They can provide advice and assistance, and your report can help protect others from falling victim to the same scam.
To stay updated on the latest scams, you may visit the ACCC’s Scamwatch website or read through our very own Scam Watch forum for the latest news.
.png){kind=icon}
