In the cyberworld, fraudsters are always on the lookout for targets and many of them are very sophisticated in their efforts and may use emotional tactics to trick you to steal your personal credentials such as verification codes or login ID/Password.
This means you, or someone you know, could lose their entire life savings — in seconds. This is very real and many of our elderly who are vulnarable and have limited knowledge of the internet, will get con by these fraudster.
There are many types of scams that fraudster uses, especially elderly. The most commonly scams that are being use are as follows:
- Impersonation Scams
- Investment Scams
- Lottery Scams
- Online Scams
Frauster may ask you to transfer money to them, claiming to be a family member in trouble or pretend to be a repairmen who gain access to your home with the intention to steal.
Many vulnerable elderly will get conned by these rauster and therefore, losses lots of their savings. It just a phone call away an scammers will sway an elderly into transfering money to them.
Posing as financial consultants, they encourage you to invest in fake companies or put your money in offshore banks for higher returns.
All the frausters need is your bank account and 2-way verification codes and the transfer is done. It is that simple and many ofour seniors are conned into these scammers. Many of these scammers advertise their services via calls and askto attend their seminars and sell their get rich scheme. Seniors who are not careful can be scammed.
You receive a call or email stating you have won a lottery and to receive your prize, you are required to pay a fee.
This is a common scenario for lottery scams and at least 80% of seniors in our community will get conned. Lottery scams are common and most frauster set their targets by sending text messages or calls to seniors.
Transfering money in a ranges of a few hundred dollars or even thousands, these syndicates will do anything to get money from you.
Fraudsters will gain access to your bank account or funds by establishing trust through social media such as Facebook, Instagram, Snapchats and othere platforms.
One of the common online scams are dating sites whereby lonely seniors tends to find companions. Scammers will entice them with love and fake photos and thereaffter gain trust.
It is a pity as most of seniors will be scammed online searching for companions.
Protect yourself with these tips
- Ignore suspicious calls and emails about contests or offers
that require personal information or payment to receive a prize.
- Practice online safety. Always key in a website address instead of clicking on a link received in an email or SMS.
- Do not download anti-virus or software updates sent via email or SMS. These could be used to access your personal details on your computer.
- Never reveal personal information, your PIN, password or account number to strangers.
Stay vigilant! Together, we can fight fraud.
There are 3 ways you should look out and inform your love ones.
SPOT THE WARNING SIGN
Always check the identity of the person you are dealing with. Fraudsters are good impersonators.
STOP SUSPICIOUS ACTIVITIES
Never open emails or click on links sent by people you don’t know.
REPORT THE INCIDENT
The sooner you report it to us, the better the chances of stopping the fraud.