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As times get tougher scammers are becoming more determined and craftier at cheating people out of their money. Globally security experts are seeing up to a 155% increase in certain types of scams. Momentum Metropolitan’s security teams have noted similar increases of scams targeting South Africans. Financial companies and their clients seem to be particularly in the sights of fraudsters and cyber criminals who target clients by the intercepting their emails, impersonating communications and executing malicious cyber-attacks, most commonly known as phishing.
The head of special forensic investigations for the Momentum Metropolitan Group says, “Your security is a high priority for us, especially as we are seeing an unprecedented increase in fraudulent activity. The scammers are getting very clever in deceiving people. We can only defeat them together, so we’d like to reiterate our call to consumers to be hyper vigilant, aware and cautious. We’ve listed below a few of the scams our experts have identified”.
There is currently an increase in interception of e-mails. When a client clicks on a phishing link, a link that looks identical and therefore legitimate, the criminal is able to have access the client’s email account, which enables the criminal to manipulate the content of emails.
We advise clients to pay meticulous attention to detail when receiving and sending information about their finances. We have noted a recent trend where scammers may change one letter in a legitimate email address or use fake websites, or fake social media and WhatsApp profiles to defraud you.
Constantly review and refine the strength of your passwords. Password123 is not a good password! And DO NOT use the same password for all your online activity, because if one password is cracked it will open up all your login details.
Our forensic expert’s final words of caution, “If anything feels wrong, stop and scrutinise what you are doing. Check every detail and every spelling, do the cursor scan over email addresses and even contact the company directly to check if it is actually them that you are doing business with. Especially check bank deposit details and never hand over cash or deposit money into an individual’s account. A moment to check or one phone call can save you from being caught out”.