Cybersecurity Awareness: Steps to Take if You Experience Fraud
All the while, fraudsters are actively attempting to gain access to this personal and financial data and use it for their financial gain.
Cyberattacks can lead to fraudsters using your information to apply for a loan, pose as debt collectors to bully you into paying a debt you don’t owe, or solicit money as part of an investment scam.
Hacking social media accounts to obtain personal information or request money from followers is another type of cyberattack. If your account is hacked, change and strengthen your password immediately. It’s important to change your password for other accounts as well, especially if you’ve used the same password in multiple places. One of the most important preventative steps you can take is to enable two-factor authentication when possible, which requires two forms of identification to login. Often times this involves the delivery of a secure access code to either your email or phone that must be submitted and verified in addition to your password.
Most of the time, a scammer’s objective is to steal debit card, credit card or bank account information to make unauthorized purchases or drain cash from your account.
If you have been scammed by a fraudster and sent money, it is important that you contact your bank immediately, as the possibility of getting the funds back decreases greatly as time goes on. You will also want to save all emails, texts and other records from the scammer to use when filing a police report.
After you’ve taken the initial steps of reporting the fraud, and canceling your cards or freezing accounts if necessary, you may wonder what happens next. In some cases, your bank will need to discuss your case further. Depending on the type of fraud you experienced you may receive provisional credit while the charges are being investigated.
In conclusion, cyberattacks have the possibility to throw your finances into turmoil, but knowing what steps to take in a crisis can mitigate your loss and put you back on the road to recovery.