Everyone wants to look after their money and keep it safe. Even if you do not put lots of effort into financial planning, that is a given. Protecting your cash means it is there for you to enjoy and treat yourself with, rather than some scammer who has stolen it from you. Making sure you keep your savings safe is essential so that you do not lose a large sum to criminals that you may have been saving for retirement or to fund a child’s education.
The digital age has given us many great things, but a downside is the number of financial scams that are possible through the internet. As so many of us head online each day, it means avoiding these monetary scams is essential. Whether you are a regular social media user, buy goods online or use the internet for services like banking, then you need to always be on your guard.
Ways to stay safe from financial scams online
What many people wonder is just why there are so many con artists online that are trying to steal your money with false promises or schemes. The simple answer lies in the reason we all like to use the internet – it is an easy and convenient way of reaching people. For scammers, digital methods require less work, are often more successful and widen their reach compared to more traditional ways of scamming the public.
To protect your money online, here are some great tips on how to avoid financial scams.
- Check a website’s security – one way that scammers may target you is by creating fake versions of genuine banking or shopping sites. Or they could set up a fake site of their own to lure shoppers in. The issue here is that once you enter your card details to buy something, they have them to raid your bank account. To help avoid this, always look for the security padlock symbol when entering any financial details on a website. This symbol is the clue you need that the site is genuine and is not a scam. It is also wise to get a general feel for how professional the website is – lots of spelling mistakes and no contact details are a red flag.
- Look at reputable online review sites – one great way to avoid online financial scams is simply to know what they look like and which websites to avoid. The Forex investment market is a great example as there are some sites posing as genuine online brokers that are simply scams. The problem is finding out which online brokers are legitimate, and which are the scammers. To do so it is best to look at reputable broker review sites including www.forexfraud.com. These review sites help to weed out the scams and show you who you can trust.
- Trust your instinct – very often, the best way to avoid being scammed financially online is to act on your instincts. If something does not look right with a website or the item they are selling is at a price that appears too good to be true, be very wary. Similarly, if you are approached on social media by strangers offering foolproof ways of making money for an upfront payment, be careful. Pretty much all of them will be scams. When on social media sites, it is also worth being guarded against people wanting to be involved romantically with you. This can often be the precursor to them trying to extract money from you at a later date.
- Use strong, unique passwords – to stay safe from online financial scams, you need to think about the passwords you have. Whether it is your bank password or your Amazon account, weak passwords that are easily guessed can give criminals easy access to your money. Do not use the same password for every account and remember to change them regularly. That way, at least if yours is breached without your knowledge, it will not be for long. That is one very useful tip for looking after your finances online.
Stay safe like a pro in the digital age
The above should not put you off from going online to do all the essential things that you need. It does however show that there are many simple ways to protect yourself from losing money to scammers. By being on your guard and trusting your instincts, you will be well on the way to looking after the money you have worked so hard to earn.