Think you’ve got a handle on the current threats? Scammers are getting smarter. Read on for advice about how to protect your business now.
A few years ago, I purchased a domain name through an online auction for the purpose of selling it at a higher price. I got an e-mail from a company that had somehow become aware of this. They claimed to specialize in estimating the real price of domain names and certifying them, which would eventually give the owner a better chance of selling them at a higher price. Unfortunately, even with all the knowledge I have about online scams, I fell for it, and lost $80 to them. The payment was processed through a secure gateway, which made me think it was a legitimate company; but there wasn’t much to be done, since I had agreed to pay, and the money wasn’t stolen from my card. It was a painful experience!
Hackers and abusers are always looking for new and innovative methods of making money online. You can’t imagine how clever they have become, with the availability of digital tools and the growth of social media; it’s a multi-billion Dollar industry.
In this case, business owners are no different from normal users. You can become a target if you receive a general e-mail masking a scam attempt, or if you are being targeted by someone who knows who you are. In both cases, you need to secure your business and your money.
Some of the best-known and most famous online scams include:
Auction fraud
Phishing
“Congratulations, you won $ 1,000,000,000”
Nigerian 419 letter
Postal forwarding/reshipping
Ransomware
…and so many others. You can Google the specifics of each to gain more knowledge.
Here are few tips to avoid becoming a victim or losing money:
Education, education, education: Educate yourself and your employees. Stay up-to-date on the latest scams and tricks cyber criminals use. It is very important that you identify when you are being targeted with a scam attempt, and simply ignore it. You can also sign up online with websites that send regular newsletters and updates on the latest online security and scam news. Here’s one: http://www.staysmartonline.gov.au/home_users/protect_yourself2/avoiding_scams_and_hoaxes.
Use strong passwords: During my career, I can’t tell you how many customers I have seen using passwords such as abc123, asdfghjk, password, etc. No matter how much I stress the importance of using a strong password, some people are just are too lazy to do so. As a minimum requirement, use a password that has 8 characters, and includes an uppercase letter, a special character, and a number. If this is too difficult to remember, use a password manager. And no, DO NOT LEAVE YOUR PASSWORD ON A POST-IT NOTE NEAR YOUR KEYBOARD!
Think twice before you click on any link in an e-mail: If you get a link in an e-mail from someone you don’t trust, think twice. Even if it looks legitimate, you can never be sure what is behind that link. Links can be masked and shortened. If you get one of those short URLs such as the bit.ly ones, try to unshorten it. Here is a useful site for this: http://unshort.me
Stay suspicious: Don’t believe an e-mail that is too good to be true. If you get an e-mail saying you have won a lottery in California and the prize is $50,000,000, unless you have really bought a ticket, just delete the e-mail.
Use comprehensive computer security: Make sure your company has comprehensive security protection. This includes all PCs, devices, tablets and even mobiles accessing the company’s resources and network. Spending a few more dinars can save you a fortune, and will eliminate the necessity of hiring expensive IT companies to clean up your mess.
Back to my story: recovering your losses can be nearly impossible, especially because most of the scams come from abroad. Avoid becoming a victim by applying a few simple rules and policies, rather than chasing your credit card company to help you get your money back.
