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How to avoid digital payment scams?

26th Feb 2024

How to avoid digital payment scams?

For Financial Literacy Week we're focusing on empowering you with the knowledge to protect yourself from digital payment scams! In today's digital age, it's crucial to stay vigilant and informed to avoid falling victim to fraudsters. In this blog post, we'll cover some common scams, like QR code fraud, and provide simple tips to help you stay safe while making digital payments.

QR Code Scams: Avoiding Unauthorized Transactions

QR code scams are tricks used by scammers to steal your money or personal information. They create fake QR codes that look real, then trick you into scanning them. Once scanned, these codes can lead to fake websites or even unauthorized transactions.

Watch Out for Phishing Emails and Texts

Phishing emails and texts are messages that look real but are actually fake. They might pretend to be from your bank or a payment app, asking for your account details. Remember, your bank will never ask for this information over email or text!

Exercise Caution with Downloads

Scammers frequently lure individuals into downloading malicious apps disguised as legitimate ones through various channels, including SMS, email, and social media. Once installed, these apps grant fraudsters control over the device, allowing them access to private information and potentially compromising users' financial security.

Simple Tips to Protect Yourself

  • Only scan QR codes from trusted sources, like official websites or stores.
  • Never share your account details or passwords with anyone, especially over email or text.
  • Be skeptical of unexpected messages or requests, and verify them with the company directly if you're unsure.
  • Keep your devices and apps updated to protect against security vulnerabilities.

Digital payment scams are a real threat, but with a little caution and know-how, you can keep yourself safe. Remember to always stay vigilant, trust your instincts, and never hesitate to reach out to your bank or payment provider if something seems fishy. Together, we can outsmart the scammers and keep our finances secure!

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