Social media platforms have become our unavoidable companions in today’s digital age. Everyone is connected via different platforms on the internet. As useful as social media is it also comes with its own set of risks. One risk that’s
on the rise is social media scams.
Common scams
These days, fraudsters use a variety of social media scams to con unsuspecting users. Everyone is susceptible to these scams, but if you are wondering how to protect seniors from social media fraud, then the
first step is awareness.
Here are some common scams to watch out:
Phone scams
Scammers might impersonate government authorities or financial institutions and reach out to you claiming there’s an urgent issue requiring your personal details or payment.
Lottery scams
Beware of any communication you receive on social media claiming you have won a lottery or a gift but need to pay a fee to claim it.
Insurance scams
Scammers impersonating representatives of insurance companies try to trick you into revealing personal information or sell fake insurance policies.
Charity scams
These scams play on your empathy by seeking donations for fake charities.
Romance scams
Fraudsters create fake online profiles to form relationships with victims and once they gain their trust, demand money under false pretenses.
Pay attention to these red flags
Here are some tactics scammers use to create a sense of urgency.
- A demand to make an immediate payment.
- Request for personal information such as banking details, PINs, passwords, OTPs, etc.
- A threatening tone or pressure to act immediately.
- Links are sent through suspicious emails and texts.
- Claim that the said person is from a government authority.
If you notice any of the above-mentioned or something feels suspicious, then report it immediately.
Stay safe online
Here are some simple tips to stay safe online
Always verify requests
If anyone is requesting any personal information or money, don’t respond and instead, take the time to verify the authenticity of the organisation or the person.
Monitor your accounts
Keep an eye on your bank accounts and report any suspicious activity or unauthorised transactions immediately.
Be skeptical instead of trusting
Don’t trust everything you see, hear, and come across on social media. Discuss with those you trust and verify the authenticity of the information before acting.
Guard your personal information
Be vigilant about your personal information and never share it with anyone, especially on social media platforms.
Final note
Learning to spot suspicious behavior and being alert will ensure you can stay safe online without being vulnerable. You needn’t avoid social media and instead, it’s about becoming an aware and smart digital citizen.
Disclaimer: This article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd. and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision.
