Tips to Avoid Online Scams
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The tough economy has curbed the ways in which many people live. Any time a bargain can be had, you can bet that there will be plenty lining up to capitalize on it. The same goes for get-rich-quick schemes or promises of easy income. Combine this with the increasing popularity and convenience of the Internet, and you have a vulnerability that hackers can exploit to their advantage.
The Better Business Bureau released a list of the top ten scams of 2010, of which the majority occurred online. While the online world is one ripe with information, good deals, and more, it is also filled with plenty of traps created to steal your personal data and separate you from your money. Here are some methods you can employ to protect yourself from the ever-growing presence of online scams.
If you have to make a payment online, do it with your credit card
Although being able to use your checking account online may be seen as a convenience, it can also hinder the security of what you actually have in the account. Some hackers have made it a personal goal to dip their virtual hands into victims' bank accounts via phishing scams or other attacks. This is an unfortunate event you want to avoid.
If possible, do not use your checking account to pay for things online. Use your credit card instead. Why? Thanks to the Electronic Funds Transfer Act, credit card payments are protected. Your liability when using a credit card online is limited if you quickly report any fraudulent or unauthorized payments. Getting your account corrected or reimbursed is much easier with a credit card, and can save you headaches in the long run.
If you do partake in online banking, you can download the Rapport program from Trusteer. It works with all major browsers, and will secure your connections when banking online, making payments, or viewing webmail. The program ensures that your sensitive data will not be leaked, and it also prevents outsiders from gaining unauthorized access to your accounts.
Never pay up front
Money may be tight, but that does not mean you should let your guard down and believe every promise you see posted online. Also, while it may be true that “it takes money to make money,” you should be extremely hesitant when an online program asks you to pay an upfront fee with the promise of receiving money in the future.
The types of scams that ask for upfront fees are numerous. They could ask for a fee to help you with job hunting, for a debt relief program, for a loan, to claim a lottery or sweepstakes prize, and more. Many work from home programs do the same as well, promising to teach you how to make money after paying a fee. Some programs offering positions as mystery shoppers have been found guilty of this.
The best way to avoid these scams is pretty simple. Use your gut, and if it seems too good to be true, it probably is. Do not pay upfront fees in response to online promises. In the end, you may end up in a bigger financial hole than you started.
Next: Never reveal your personal information >>
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