Those scamming peoples’ hard earn money around the internet, we called them as cyber criminals. As we all know, with the internet now, most transactions have been digitalized. Although things are becoming more and more efficient, there are still certain loopholes in the internet where the Cyber Criminals are attacking. These are all very important which all of us must not neglect.

Target of Cyber Criminals

Bear in mind, their final target is always our hard earned money in our banks. They may do anything to accomplish their mission.

Types of Scams Out there

1. The popular Phishing Scam

The cyber criminals will try to send you messages / emails and trick you into giving them your login IDs and passwords.

How do they do it? Normally they will send you email that something frightening had happened to your bank account and tricked you to log in into your bank account thru the link they had provided in the mail. You will be surprised with these type of mails as they made it look like it’s from a trustful sources. Even the link provided in the mail , when you clicked into it, it may look 99% alike to the actual bank website you normally login to do transactions.

Be smart on reading emails, or if you are really worried, call the direct line of your bank to confirmed on your account status instead of calling the number provided in the email.

2. The Lottery Scam

It comes in an email message informing you that you won a huge sum of money and what you will need to do to collect your winnings is to pay a small amount of fee. Those victims got tricked into paying the small amount of fee thinking that it is worthy as in return they will get a few millions of dollars making them quitting their jobs and buying a dream-house. This sounds too good to be true right?

3. The Love Scam

Lately there are love scam news coming up where either a man or a woman was scammed by their so called love ones thru the social networks. They might came to knew each other from online dating services, and this scam normally takes a longer time as they need to gain trust from their victim. End of the day, the scammer will use certain reason to borrow money from their victim. They might even start borrowing with small sum and then later on a bigger sum ending up MIA together with the money.

4. Merchandise Scam

You paid for the product you bought online thru Credit Card but it takes forever to be delivered to you. For these type of scams, we have to educate ourselves in choosing a good reputation / well-knowned merchant before we buy anything online.

5. Non Payment Item Sold Scam

Previously there scam out there where buyer are scamming the merchant on the payment. How do they do it?The buyer bought the things they wanted using their credit card and later on, once they received their product from the merchant, they called the bank to dispute the transaction. There are regulations previously where we can dispute credit card transaction within a time period of 6 months saying that you are not the one who did that transaction.

But not much to worry about this scam anymore as bankers lately had implemented OTP / TAC method on credit card payments where the buyers once entered their OTP / TAC send thru SMS or apps during their procurement, they cannot deny that they had no knowledge on the processed transactions.

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