Mount Equity Group – How to Shield Yourself from Online Fraud
Most of the things that we do nowadays are done online. From grocery to shopping, banking, watching movies, and conducting work meetings, the internet has truly got it all covered. The rise of the digital world has given plenty of opportunities to both businesses and consumers to interact freely. However, the internet is full of dark corners where opportunist criminals hide and wait to deceive clueless individuals into giving them what they want.
A famous example of cybercrime is online fraud, a type of crime that preys on less knowledgeable victims. Financial fraud occurs when someone takes a person’s money or assets by tricking them. This can take on many forms, such as identity theft, investment fraud, mass marketing fraud, and many more.
Identity theft and phishing
Perhaps the most common online scam is identity theft. These cybercrimes can be done through phishing scams. In phishing, a scammer gets a person’s information by sending emails pretending to be a legitimate company in order to earn the trust of their target. Then, personal information such as credit card numbers and passwords are subsequently revealed to the scammers.
Identity theft is when a person uses someone’s identity, usually for financial gain. An example of identity theft occurring to run a financial fraud is when someone uses another person’s credit card to buy stuff online or perform illegal transactions. In a report by the Federal Trade Commission (FTC), there were 3.7 million complaints of identity theft and fraud incidents in 2019, 1.7 million of which being fraud-related. Therefore, it is important to verify the legitimacy of the company one is sharing sensitive information with.
Fortunately, phishing scams and other frauds can be prevented so long as investors work with trusted banks and investment companies like the Mount Equity Group. Clients can be sure that they are safe when choosing us because we have over a century of collective experience in banking, trading, and investments. Furthermore, with our wide client base spread in 60 countries, international transactions have never been this easy.
Ways to Recognize a Phishing Scam vs. Legitimate Bank Emails
Phishing scams are prevalent these days, especially when most people are conversing with their friends and relatives through the use of emails. In 2019, phishing scams grew by 65% in the US alone. Moreover, it was found that one in ten adults gets victimized by scams and frauds every year. To avoid falling for fraudulent emails, here are ways on how to differentiate phishing scam emails from legitimate bank emails:
- Legitimate companies do not ask for personal information through emails
It is a general rule among companies not to ask for their client’s passwords, credit card numbers, and other sensitive information through an email. If a person ever receives a message requesting any of these, chances are the email is part of a phishing scam. Likewise, legitimate banks do not send links asking their clients to log in to their accounts. To be safe, never click on the link or reply to suspicious emails.
- Phishing scam emails are usually poorly written
An email can be recognized as a phishing scam email by simply looking at how well-written it is. Most phishing scams and fraudulent emails have lots of grammatical and spelling errors. Usually, these emails are filtered out by a person’s emailing system. However, there is no guarantee that all emails outside one’s spam messages are legitimate. Emails from trusted banks and companies are written and checked by professionals—therefore, there should be little to no errors. If a person received an unexpected email from their bank and has multiple grammatical and spelling errors, there is a big chance it is a phishing scam.
- Phishing scams are usually designed to alarm a person
It is common for these schemes to try to cause panic and produce a sense of urgency. Be wary if an email is threatening to close off your bank account unless you give out personal information or follow the instructions attached to the message. If you received any of these messages, always be wary of the links, files, and social media accounts attached to the email. In addition, inspect the email domain for any misspellings. If it still looks suspicious, it is better to delete the email and call your bank for additional information.
- Legitimate companies use legitimate links
If there is a link attached to the email, it should lead you to the bank or company’s legitimate site. As a precaution, check the hyperlink by hovering the cursor over the text and checking the link that will pop up. Remember not to click it, and instead, just read the overview of the site. However, if you accidentally clicked on it no matter what, immediately make sure it is a secured site by inspecting if the URL has a tiny padlock on the side and starts with “HTTP” or “HTTPS.” Close the tab and window right away if the site looks suspicious. Fraudulent sites are usually very similar-looking to a company’s official site, so carefully check the website’s contents before entering any information.
Trust Mount Equity Group Japan to Safeguard Your Investments
Mobile banking and online investing are both made possible through technological advancements. However, serious risks come with the convenience brought forward by the internet. Due to this, before starting a venture, make sure to research and identify these newer investment risks. Partnering with a trusted company is a must too! Make sure that you are investing in a company with lots of experience in the field and has a lot of great reviews from their customers, much like the Mount Equity Group.
Getting victimized by financial fraud, phishing scams, and identity theft is just some of the bad things that might happen to a person if they trusted an illegitimate company to manage their funds. None of this would happen to you with Mount Equity Group! We guide our clients through important financial decisions, perform various risk management operations and make the most of their money.
Want to grow your money and achieve all your financial goals? Trust our team of professionals to help you! Regardless of your net worth or income, we’ll provide you with personalized solutions that are suitable for your individual situation. Indeed, there’s no time like the present to start investing. Grow your money with us now at Mount Equity Group Japan!