Safeguard Your Finances with Tips from Trusted Financial Advisors
The Tech Support Scam commences with an initial appearance of assistance aimed at rectifying a technical issue. Criminals use calls, emails, or texts to trick you into thinking you need help. As financial advisors, we are seeing more and more of these scams.
Given the proliferation of novel computer-based scams and stratagems, experiencing a sense of security becomes challenging. Among the scams that warrant vigilance, "technical support scams" stand out. These fraudulent endeavors utilize the pretext of requiring technical support for your computer to ensnare you in their scheme.
Some versions make you pay for fixing a non-existent problem. Others exploit your need for tech support to gain unauthorized access to your device. They might then proceed to implant malware with the intention of acquiring your personal information.
To protect yourself from tech support scams and feel more secure against scammers, you can take some steps. However, achieving total peace of mind may be difficult.
How do Tech Support Scams work?
Technical support scams manifest in a variety of forms. Here are some of the prevalent strategies through which technical support scammers attempt to exploit you and your devices.
Pop-Up Browser Scams:
Among the most frequent technical support scams are those involving pop-up browsers. These scams tend to appear unexpectedly on your device while you're using a web browser or an application. The pop-ups will display messages urging you to act fast and collaborate with supposed tech support. The goal is to resolve a non-existent issue.
The intention behind these messages is to make you believe that you require technical support. They hope you'll click on the provided link or dial the given number, thereby granting them complete access to your device.
Phone-Based Scams:
Scammers frequently resort to making fraudulent calls, with the caller posing as a support representative from a reputable tech company. These scammers are skilled and will use convincing tactics to make you believe your device has a problem. Their ultimate goal is to obtain access to your device and introduce malicious software.
It's important to note that legitimate tech companies do not initiate unsolicited contact with customers. Therefore, any such calls are likely to be from scammers.
Email-Based Scams:
Tech support scammers also exploit emails to carry out their schemes. They send fake error emails.
These emails tell you to click on links, call certain numbers, or update/install software. The purpose is to fix a supposed problem with your device. Scammers pretend to be real tech companies and trick you into giving them access to your device or personal information.
Remaining vigilant against these tactics is essential to protect yourself and your devices from falling victim to technical support scams.
How to protect yourself?
Dealing with Requests for Access or Information from Scammers:
Refrain from granting remote access to your device for repair purposes. Only consider this if you're certain the request is coming from a legitimate representative of the company you've sought support from.
Exercise caution when it comes to sharing payment or financial information in exchange for technical support. Legitimate tech companies will not contact you to demand payment for device fixes.
Responding to Scam Calls:
If you think a call is a technical support scam, hang up and block the number right away.
If an unfamiliar number calls you, it's best not to answer. Delete any voicemail left by the caller.
Stay attentive to the phone number displayed; scammers often manipulate caller IDs to entice you into answering.
Handling Scam Emails:
If you get an email that looks like a scam for technical support, mark it as spam and delete it.
In case you inadvertently open such an email, avoid clicking on any links or visiting any linked pages. Delete the email without delay.
Be alert to messages featuring poor grammar, misspellings, or originating from unfamiliar email addresses.
Protect yourself from scammers by following these precautions to keep your devices and personal information safe.
What to do if you provided personal information?
To begin, there's no need for any embarrassment, as this situation could have befallen anyone. Moreover, maintaining silence is counterproductive; your voice can contribute to preventing this occurrence for others.
Halt All Communication:
Immediately discontinue all interaction with the scammer. Do not continue any correspondence, whether it's messages or calls, with them.
Report the Scam:
Notify your local law enforcement agency or the cybercrime unit in your country about the incident. Furnish them with comprehensive details regarding the scammer and the exchanged communication.
Alert Your Financial Institutions:
If you disclosed any financial details, promptly get in touch with your bank and credit card companies. Inform them of the potential scam and seek guidance on securing your accounts.
Revise Passwords:
Alter the passwords for all your online accounts, especially those linked to sensitive data or financial matters. Create strong, distinct passwords for each account.
A reputable choice for managing passwords is 1Password. Renowned for its robust security and absence of known vulnerabilities, 1Password is a reliable paid option. Its well-crafted interface embodies essential features expected from premium password managers. The price is currently $2.99 per month or $35.88 per year.
Additionally, there is a family plan available for $60 per year. This plan allows for up to 5 family members to be included and offers extra savings.
Activate Two-Factor Authentication (2FA):
When feasible, enable two-factor authentication across your accounts. This extra security layer complicates scammers' attempts to infiltrate your accounts.
Monitor Your Accounts:
Exercise vigilance over your bank accounts, credit cards, and other financial profiles to swiftly identify any unusual transactions. Report any unauthorized activities without delay.
Notify Credit Bureaus:
Consider reaching out to credit reporting agencies to institute a fraud alert on your credit report. This precautionary step can hinder scammers from initiating new accounts in your name.
Exercise Caution in Future Communications:
Exercise caution when engaging with communications from unfamiliar sources in the future. Scammers may endeavor to target you anew using diverse tactics.
Implement Robust Antivirus Software on All Devices:
To prevent scams, use reliable antivirus software on all your devices to stop tech support scammers from accessing them. This software stops you from clicking on dangerous links that could install harmful software, keeping hackers away from your personal information.
Utilize Identity Theft Protection:
If someone tricks you and obtains your personal information, consider using a service. This service will assist you in reporting and recovering from the situation. A highly effective measure to shield yourself from this form of fraud is enrolling in an identity theft protection service. Among the top recommendations is Identity Guard.
Identity Guard actively monitors key personal information, such as your home title, Social Security Number (SSN), phone number, and email address. It promptly notifies you if any of this data is being traded on the dark web or exploited to establish accounts. Additionally, they provide assistance in freezing your bank and credit card accounts to prevent unauthorized usage by malicious entities.
Bottom Line
Safeguarding against tech support scams and identity theft is paramount in our modern digital landscape. Exercise constant caution when faced with uninvited calls or emails purporting to provide technical assistance. Refrain from divulging personal details or permitting remote access to unfamiliar entities. Strengthen your device defenses by investing in reliable antivirus software, thus shielding against malware and potential hazards.
Furthermore, contemplate enlisting in an identity theft protection service to oversee and fortify the security of your sensitive data. Through sustained vigilance and proactive measures, you can substantially diminish the likelihood of becoming a target for cybercriminals.
Sources:
https://cyberguy.com/protect-your-devices/protect-yourself-from-tech-support-scams/
https://consumer.ftc.gov/articles/how-spot-avoid-and-report-tech-support-scams
Disclosures:
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This material is provided as a courtesy and for educational purposes only. Please consult your investment professional, legal or tax advisor for specific information pertaining to your situation.
These are the views of the author, not the named Representative or Advisory Services Network, LLC, and should not be construed as investment advice. Neither the named Representative nor Advisory Services Network, LLC gives tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. Please consult your Financial Advisor for further information.