How to Protect Yourself from Financial Scams

How to Protect Yourself from Financial Scams​

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Banking fraud has been on the rise recently, and millions of people all over the work have been victims of this in one way or another. Thousands of complaints related to banking and cyber fraud are received each year, and billions of dollars have been lost to Cyber fraud yearly.
There are ways you can keep yourself secured from falling victim to the hands of these bad guys. Some of those steps are listed below.

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1) Enabling 2FA (Two Factor Authentication) ​

Two-factor verification is a security system that requires two confirmations before full access is granted to access your banking platform. The two confirmations could be code sent to your phone number and Gmail. Sometimes it may be a live call on your registered number to confirm the authenticity of the login request.

When two factors verification is enabled, authorization of access to your account will only be granted after confirmation from two source . This will prevent hackers and bad guys from having unauthorized access to your account without your knowledge. Double verification is necessary for maximum security and always keeping your account secured at all times.

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2) Avoid the Use of Public WiFi​

Public Wi-Fi should not be used to access your bank or any other sensitive wallet where you have stored your asset. It is dangerous to access your banking app wallet using public Wi-Fi. Fraudsters and other internet criminals could easily track your password, which could easily be used to hack your wallet. Public Wi-Fi is home to many different people, and you shouldn't trust public Wi-Fi with your sensitive bank details.

Public Wi-Fi can only access your favorite news site and stream on YouTube and social media. Additionally, when using public Wi-Fi , VPN should be strictly enabled, bringing it to Total encryption and giving maximum security to your mobile device that hackers won't easily access.

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3) Avoid Clicking Unknown Links​

There are millions of phishing sites out there you must be careful of. Such Platforms are fun for sending out suspicious mail with phishing links. Do not click those links, as your password can easily be tracked. Secure your bank details and understand that no bank agent will request your card details anywhere around the internet. Do not provide this information when asked any way around the internet.

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4) Do Not Share Your Bank or Confidential Information ​

We are in a world with an increasing rate of criminal activities. your friends and business workers should not be trusted with your sensitive information. We have heard many stories of Friends scamming others just because of a bit of access to their private information.

In most cases, scammers do not have access to your critical information directly; sometimes, they work through your friends to get to know your full banking details. Always report to your bank immediately when you notice suspicious activities on your bank page.

Also, know the quickest way to restrict transactions in your account when you notice suspicious activities.

 

[Kane]

Financial scams, especially involving crypto currencies is becoming very common these days. IN the last couple of years, billions of dollars have been scammed by the companies like FTX, Celsius, Tera Labs, Squid Game Tokens, etc. Before you invest, you need to do a lot of research.