6 Simple Steps to Avoid Email and Wire Fraud Schemes, and Keep Your Money Secure
No matter how you look at the numbers, or which market segments you study, email and wire fraud schemes have risen dramatically over the years. With the advent of wire transfers, email itself, online banking, and countless more digital technologies intended to help us, scammers have taken their deception to the next level and are using these tools to extort billions of dollars per year from hard working, honest, and trusting people. Using fake email accounts, email spoofing, and fraudulent misrepresentation, wire fraud schemes are at an epic high.
According to recent FBI reports:
- In 2019, there were about 11,600 cases of wire fraud in the United States alone, equating to roughly $221 million in known theft
- In 2020, there were roughly 13,638 cases, and $213 million in known theft
- In 2021, there were less cases, about 11,578 in number, but those cases involved higher stakes, about $350 million in theft
To stop these criminals, You are the best line of defense!
Here are 6 Simple Steps to Avoid Email and Wire Fraud Schemes, and Keep Your Money Secure
- VALIDATE: Is the message real? Think about whether the email, sender, and content make sense and sound reasonable, or is too good to be true. And remember, if it sounds too good to be true, it most likely is 99.7889% of the time. Don’t be fooled into thinking you’re the exception. ☹
- IDENTIFY: Do you recognize and personally know the sender and/or organization?
- VERIFY: Are you sure the email is legit? If not, call the sender and ask if they sent the email, links, and/or attachment.
- TEST: Did you know that if you move your mouse cursor over a link without clicking, it shows the real URL address the link will send you too? Hover over links to display the true destination. Here’s a link to move your mouse over and test how: WhatDoYouSeeWhenYouHover.com?
- OUTSMART: If you are still not sure if an email is a wire fraud scheme or real and you want to respond, Forward the email to the displayed source instead of just replying. You see, if you hit reply and it’s fraud, you send it directly to the fraud source. If you forward the email to the individual you intend to receive it, then you cut out and email spoofing failure point and protect yourself further. Then, the recipient will either receive your response, or know someone is using their identity for fraud and thank you.
- RESIST: If you are not 100% sure a link is safe, don’t click on it to test, don’t open an attachment, and don’t respond to their email. Resist the curiosity and temptation. If it’s real, and important, the sender will write you back or call you. By clicking on a corrupt link, scammers can infect your computer or smartphone with a virus, spyware, or keystroke monitoring software in literally milliseconds today. Don’t click on strange links, open unknown attachments, or visit any websites you’re not 100% sure are safe.
That’s it for today. Hope these 6 Simple Steps to Avoid Email and Wire Fraud Schemes, and Keep Your Money Secure help you and your loved ones have a happier, safer, and more financially peaceful future.
- Always seek financial and legal advice from licensed professionals.
- Special thanks to the following source(s) for the image(s) used in this article: