Category: Scams

Introduction:

Cryptocurrencies have revolutionized the financial landscape, offering decentralization, anonymity, and security. However, alongside the benefits, the rise of cryptocurrencies has also seen a surge in scams. From fraudulent ICOs (Initial Coin Offerings) to Ponzi schemes and fake exchanges, the crypto sphere is rife with potential pitfalls for unsuspecting investors. In this guide, we will delve into the intricacies of detecting cryptocurrency scams, equipping you with the knowledge to navigate this volatile market safely.

Understanding Cryptocurrency Scams:

Before delving into detection methods, it's crucial to grasp the various forms cryptocurrency scams can take. Some common scams include:

Ponzi Schemes:

These scams promise high returns on investment but sustain payouts using funds from new investors rather than legitimate profits.

Fake ICOs:

Initial Coin Offerings are a popular way for new cryptocurrencies to raise capital. However, scammers often launch fake ICOs, enticing investors with promises of revolutionary technology or unrealistic returns before disappearing with funds.

Phishing:

Scammers use deceptive emails, websites, or social media messages to trick users into revealing sensitive information like private keys or login credentials.

Pump and Dump Schemes:

In these schemes, the price of a cryptocurrency is artificially inflated ("pumped") through misleading information or hype before the perpetrators sell off their holdings, causing the price to crash ("dump").

Fake Exchanges:

Fraudulent exchanges mimic legitimate platforms, enticing users to deposit funds which are then stolen.

Detection Methods:

Now that we've identified common scams, let's explore strategies to detect and avoid falling victim to them:

Conduct Thorough Research:

Before investing in any cryptocurrency or ICO, research the project, team, and whitepaper meticulously. Look for red flags such as vague project descriptions, anonymous teams, or plagiarized content.

Check reputable cryptocurrency forums and community platforms for reviews and discussions about the project. Engage with the community to gain insights and verify legitimacy.

Scrutinize Investment Opportunities:

Exercise skepticism towards offers that promise guaranteed returns or unusually high profits with little to no risk. Remember the age-old adage: if it sounds too good to be true, it probably is.

Verify the credentials of the team behind the project. Legitimate projects have transparent teams with verifiable identities and relevant experience in the field.

Verify Exchange Legitimacy:

Before trading on a cryptocurrency exchange, research its reputation and regulatory compliance. Check for licenses, security measures, and user reviews.

Be wary of unsolicited links or promotions leading to unknown exchanges. Stick to well-known, reputable platforms with a track record of security and reliability.

Protect Personal Information:

Never share sensitive information such as private keys, passwords, or seed phrases with anyone, especially through unsolicited communication channels.

Enable two-factor authentication (2FA) wherever possible to add an extra layer of security to your accounts.

Stay Informed:

Keep abreast of cryptocurrency news and developments. Stay vigilant for emerging scams and evolving tactics used by scammers.

Educate yourself continuously on security best practices and warning signs of scams to enhance your ability to detect and avoid them.

Preventative Measures:

In addition to detection methods, implementing preventative measures can further safeguard your investments and personal information:

Diversify Your Investments:

Spread your investments across multiple cryptocurrencies and asset classes to mitigate the impact of potential losses from scams or market fluctuations.

Use Cold Storage:

Store the majority of your cryptocurrency holdings in offline wallets or hardware wallets rather than keeping them on exchanges. This reduces the risk of losing funds to exchange hacks or fraudulent activities.

Report Suspicious Activity:

If you encounter a suspected cryptocurrency scam or fraudulent entity, report it to relevant authorities and platforms. By alerting others, you can help prevent further victimization and potentially aid in the apprehension of perpetrators.

Educate Others:

Share your knowledge and experiences with friends, family, and the wider community to raise awareness about cryptocurrency scams. Encourage others to exercise caution and conduct thorough research before investing.

Conclusion:

Cryptocurrency scams pose a significant threat to investors and enthusiasts alike, exploiting the complexities and uncertainties of the digital asset landscape. By understanding the common forms of scams, adopting rigorous detection methods, and implementing preventative measures, individuals can minimize their exposure to fraudulent activities and safeguard their investments and personal information. Remember, vigilance and education are your strongest allies in navigating the cryptocurrency ecosystem safely.

In recent years, cryptocurrencies have surged in popularity, presenting lucrative opportunities for investors and enthusiasts alike. However, with the rapid growth of the crypto market, there has also been a corresponding rise in scams and fraudulent activities. Protecting yourself against these threats is paramount to safeguarding your investments and maintaining trust in the crypto ecosystem. In this guide, we'll explore actionable strategies to help you prevent scams in cryptocurrency.

1. Educate Yourself: Knowledge is Power

One of the most effective defenses against scams is education. Take the time to thoroughly understand how cryptocurrencies work, including blockchain technology, wallets, exchanges, and common scams. Stay updated on the latest developments and trends in the crypto space through reputable sources such as official project websites, forums, and trusted news outlets.

2. Verify Sources and Information

Always verify the credibility of sources before acting on any information or advice related to cryptocurrency investments. Beware of unsolicited messages, social media posts, or emails promising guaranteed returns or investment opportunities. Scammers often use phishing techniques to trick users into divulging sensitive information or sending funds to fraudulent addresses.

3. Secure Your Wallets

Your cryptocurrency wallet is your digital vault, and securing it is paramount. Use reputable wallet providers with a proven track record of security. Implement strong passwords, enable two-factor authentication (2FA), and consider using hardware wallets for an added layer of protection against unauthorized access.

4. Be Wary of Pump-and-Dump Schemes

Pump-and-dump schemes involve artificially inflating the price of a cryptocurrency through false or misleading information, only to sell off the inflated assets at a profit, leaving unsuspecting investors with losses. Avoid participating in schemes that promise quick and guaranteed returns, as they often lead to financial losses.

5. Conduct Due Diligence

Before investing in any cryptocurrency project or initial coin offering (ICO), conduct thorough due diligence. Research the project team, its whitepaper, roadmap, and underlying technology. Look for red flags such as lack of transparency, unrealistic promises, or plagiarized content. Only invest in projects with a solid foundation and clear utility.

6. Avoid Unregulated Exchanges

Exercise caution when dealing with unregulated or obscure cryptocurrency exchanges. Stick to well-established platforms with robust security measures and regulatory compliance. Research exchange reviews and user feedback to assess their reputation and reliability before trading or storing your assets.

7. Stay Vigilant Against Social Engineering Tactics

Scammers often employ social engineering tactics to manipulate individuals into revealing sensitive information or sending funds. Be wary of unsolicited messages, fake giveaways, and impersonation attempts on social media platforms. Verify the authenticity of communication channels and never disclose your private keys or passwords to anyone.

8. Trust Your Instincts

If something seems too good to be true, it probably is. Trust your instincts and exercise caution when encountering high-pressure sales tactics or overly aggressive marketing campaigns. Take the time to evaluate the risks and potential rewards of any investment opportunity before committing your funds.

9. Diversify Your Investments

Diversification is key to mitigating risk in any investment portfolio, including cryptocurrency. Spread your investments across multiple assets to minimize exposure to individual project risks. Avoid putting all your eggs in one basket and maintain a balanced portfolio tailored to your risk tolerance and investment goals.

10. Stay Informed and Adapt

The cryptocurrency landscape is constantly evolving, with new technologies, regulations, and threats emerging regularly. Stay informed about the latest security practices, regulatory developments, and scam trends. Remain adaptable and proactive in implementing necessary safeguards to protect your investments and personal information.

Conclusion

In conclusion, preventing scams in cryptocurrency requires a combination of education, vigilance, and proactive measures. By staying informed, conducting due diligence, securing your wallets, and exercising caution, you can mitigate the risks associated with investing in cryptocurrencies and safeguard your assets against fraudulent activities. Remember, in the crypto world, security is paramount, and taking proactive steps to protect yourself is the best defense against scams.

The cryptocurrency landscape has indeed seen its share of scams and fraudulent activities, and there's a continuous evolution in the methods used by scammers to deceive unsuspecting individuals. While it's true that scams can become more sophisticated over time, it's essential to recognize that not all cryptocurrency activities are scams.

Some factors contribute to the perception that cryptocurrency scams are becoming more serious and sophisticated:

Increased Adoption: As cryptocurrency becomes more mainstream, there's a larger pool of potential victims for scammers to target. With more people entering the space, scammers have more opportunities to exploit newcomers who may not be familiar with the intricacies of cryptocurrencies.

Complexity of Scams: Scammers are becoming more creative and resourceful in devising their schemes. They may use sophisticated tactics such as creating fake exchanges, Ponzi schemes, phishing attacks, or malware to steal users' funds or personal information.

Technological Advancements: Advancements in technology can empower scammers to develop more advanced tools and techniques to carry out their scams. For instance, they may leverage social engineering tactics or create convincing fake websites and apps to trick users.

Anonymity of Cryptocurrency Transactions: Cryptocurrency transactions are often irreversible and pseudo-anonymous, making it difficult to trace and recover funds in case of fraud. This anonymity can embolden scammers to carry out their activities without fear of being caught.

While the risk of scams exists in the cryptocurrency space, there are measures individuals can take to protect themselves:

Research: Thoroughly research any cryptocurrency project or investment opportunity before committing funds. Scrutinize the team behind the project, read whitepapers, and look for reviews from reputable sources.

Security Practices: Practice good security hygiene, such as using hardware wallets, enabling two-factor authentication, and keeping your private keys secure.

Stay Informed: Stay informed about the latest scams and warning signs of fraudulent activities in the cryptocurrency space. Communities and forums dedicated to cryptocurrencies often share information about emerging scams.

Exercise Caution: Be cautious of promises of guaranteed returns or investment opportunities that seem too good to be true. Exercise skepticism and don't hesitate to seek advice from trusted sources if you're unsure about an investment.

By staying vigilant and informed, individuals can reduce the risk of falling victim to cryptocurrency scams despite the evolving landscape

Safeguarding Your Inbox: A Comprehensive Guide to Detecting Email Scams

introduction.

In today's digital age, email has become an indispensable tool for communication and business transactions. However, alongside its convenience, email also presents significant risks, particularly in the form of scams and phishing attempts. These fraudulent schemes are designed to deceive unsuspecting users into revealing sensitive information, such as passwords, financial data, or personal details. Detecting email scams requires vigilance and awareness of common tactics used by cybercriminals. In this article, we'll explore various strategies and techniques to help you identify and avoid falling victim to email scams.

Scrutinize Sender Information:

One of the initial steps in identifying email scams is to carefully examine the sender's information. Pay close attention to the email address from which the message originates. Scammers often use email addresses that mimic legitimate organizations or individuals but contain subtle variations or misspellings. For example, instead of "@paypal.com," a scam email might come from "@paypall.com" or "@pay-pal.com." Verify sender addresses by hovering over them to reveal the full address or by cross-referencing with official sources.

Assess the Message Content:

Email scams typically employ persuasive language and urgent requests to manipulate recipients into taking action. Be wary of emails that pressure you to provide sensitive information, such as account credentials or financial details, under the pretext of resolving an issue or claiming a prize. Look for grammatical errors, inconsistencies, or generic greetings, as these are common indicators of fraudulent messages. Legitimate organizations usually address recipients by name and maintain a professional tone in their communications.

Verify Links and Attachments:

Hyperlinks embedded within emails are a common tactic used by scammers to redirect users to fake websites or malicious pages designed to steal personal information or install malware. Before clicking on any links or downloading attachments, hover over them to preview the URL or file path. Exercise caution when prompted to enter login credentials or sensitive data on external websites, especially if the site's URL seems suspicious or unfamiliar. When in doubt, refrain from clicking on links and independently verify the legitimacy of the sender or request.

Examine the Subject Matter:

Email scams often exploit topical events, current trends, or emotional triggers to elicit a response from recipients. Be cautious of messages that promise unrealistic rewards, discounts, or opportunities that seem too good to be true. Common themes include lottery winnings, inheritance claims, job offers, and urgent pleas for financial assistance. Verify the credibility of such claims by conducting online research or contacting relevant authorities or organizations directly.

Beware of Phishing Attempts:

Phishing is a type of email scam that masquerades as a trusted entity to deceive users into divulging confidential information. These emails often impersonate banks, government agencies, or popular online services and may request account verification, password resets, or account updates. Avoid providing sensitive information directly through email and instead use secure channels, such as official websites or verified phone numbers, to authenticate requests. Legitimate organizations typically refrain from requesting sensitive information via email and employ secure authentication protocols.

Stay Informed and Educated:

Cybercriminals continuously adapt their tactics to exploit new vulnerabilities and technological advancements. Stay informed about the latest email scams, phishing trends, and cybersecurity best practices by following reputable sources, such as cybersecurity blogs, industry forums, or official government websites. Educate yourself and your employees about the dangers of email scams and implement proactive measures, such as security awareness training and email filtering solutions, to mitigate risks effectively.

Implement Security Measures:

Protect your inbox and devices from email scams by implementing robust security measures and utilizing reputable antivirus software, firewalls, and spam filters. Enable multi-factor authentication for email accounts and regularly update passwords to prevent unauthorized access. Consider using encrypted email services and secure communication channels for transmitting sensitive information or conducting financial transactions. Additionally, regularly back up important data and files to mitigate the impact of potential security breaches or data loss incidents.

Report Suspicious Activity:

If you encounter a suspicious email or believe you've been targeted by an email scam, promptly report it to the relevant authorities or organizations. Most email providers offer options to mark messages as spam or phishing attempts, which helps improve their filtering algorithms and protects other users from similar threats. Additionally, notify your IT department or cybersecurity team if you're part of an organization, as they can investigate and take appropriate action to safeguard network integrity and data security.

In conclusion, detecting email scams requires a combination of vigilance, skepticism, and proactive cybersecurity measures. By scrutinizing sender information, assessing message content, verifying links and attachments, and staying informed about emerging threats, you can significantly reduce the risk of falling victim to email scams. Remember to implement security measures, report suspicious activity, and educate yourself and others about email security best practices. Safeguarding your inbox is essential in today's interconnected digital landscape, where cyber threats continue to evolve and proliferate. Stay alert, stay informed, and stay secure.

Anyone has been scammed while using WhatsApp?

If you do, then perhaps you may want to take some steps to prevent being scammed again.

A lot of them , we tend to open the links sent by our friends without knowing our friends' WhatsApp accounts have been compromised.

Once we click on the link, we will fall victim to the hackers just like our friends.

So how do we prevent this from happening?

Preventing WhatsApp Scams: A Comprehensive Guide

WhatsApp, with its vast user base spanning across continents, has become a hotspot for scammers aiming to deceive users.

These scams range from phishing attempts to the spread of malicious links.

With the platform being a primary mode of communication for many, it's crucial to understand and implement measures to safeguard oneself.

Here's a comprehensive guide on how to prevent WhatsApp scams.

1. Educate Yourself

Know the Common Scams: Before anything else, educate yourself about the prevalent scams on WhatsApp. Some common ones include:

• Fake offers and discounts: Scammers often send messages promising unbelievable discounts or freebies to lure users.
• Phishing messages: These messages mimic official WhatsApp or other platform notifications, asking users to verify account details or click on a link.
• Chain messages: Messages that claim dire consequences if not forwarded to a certain number of people.

2. Verify the Source

Check the Number: If you receive a message from an unknown number claiming to be from a known contact, always double-check with the person directly through a call or another messaging platform.

Cross-Check Information: Before clicking on any link or responding to any message, verify the information from official sources or trusted websites.

3. Adjust Privacy Settings

Limit Profile Visibility: Adjust your privacy settings to ensure that only your contacts can view your profile picture, status, and last seen. This prevents strangers from gathering information about you.

Two-Step Verification: Enable two-step verification for an added layer of security. This ensures that even if someone has access to your SIM card, they can't easily set up WhatsApp on another device without the two-step code.

4. Avoid Sharing Personal Information

Never Share OTPs: One-time passwords (OTPs) sent to your phone are confidential. Scammers may try to trick you into sharing these under various pretexts.

Always remember, genuine services will never ask for your OTP.

Be Wary of Links: Refrain from clicking on suspicious links, especially those claiming to offer prizes, discounts, or asking for personal information.

5. Update Regularly

Ensure that your WhatsApp application is always updated to the latest version. Developers frequently release security patches and updates to combat new types of scams and vulnerabilities.

6. Secure Your Device

Use Trusted Antivirus: Install a reputable antivirus solution on your smartphone. Regularly scan your device for malware or malicious apps.

Avoid Public Wi-Fi: Public networks can be insecure, making it easier for scammers to intercept data. Whenever possible, use a secure and private internet connection.

7. Trust Your Instincts

If a message or offer seems too good to be true, it probably is.

Scammers often prey on emotions like excitement or fear. Take a moment to analyze the situation logically before taking any action.

8. Report Suspicious Activity

If you encounter a suspicious message or believe you've been targeted by a scam:

• Report to WhatsApp: Use the 'Report' feature within the app to notify WhatsApp about the suspicious activity.
• Inform Contacts: Warn your contacts about the scam to prevent further spread.
• Contact Authorities: In severe cases involving financial fraud or threats, inform law enforcement agencies.

9. Educate Others

Spread awareness among your friends and family. The more people are informed about the potential threats, the safer the community becomes.

Conclusion

While WhatsApp offers a convenient way to communicate, it's essential to remain vigilant against scams. By following the guidelines mentioned above and staying informed about the latest scam tactics, users can protect themselves and ensure a safer digital experience.

Always remember, your security and privacy are paramount; never compromise them for convenience.

Is Telegram the social media platform to use for communicating with your friends and colleagues?

Telegram claimed to have good privacy and security features.

May be because of these good privacy and security features, you can notice there are a lot of scams group using this platform.

Below I am sharing some messages from Telegram when my friend tried to do a hookup and what was offered.

We found a lot of these types of posts in Telegram, after a while, the user would delete their accounts.

After a few days, they would create another new account with a new name

We tried a few, and managed some hookup to the stage of meeting up.

Usually the ladies will not tell you their address, they will give you an address near their houses and claimed once you reached there, message her and she will come to pick you to her place.

So we went to the agreed meeting place, instead of a lady, here came a man with tatoo, we told him we would not be going with him, luckily there were a few policemen nearby patrolling.

The next day, the user account of that Telegram account deleted her account.

If you look at the three messages below, they look similar and are from three different Telegram accounts.

All three messages indicated the same meeting place. thus this could be a syndicate operating to lure some hungry people to trap.

Message No. 1

Masturbating sex video call $50

Just video call $20

Nudes $30

sex service

1 hour $100 booking deposit $50

90 minutes $150 booking deposit $50

2 hours $200 booking deposit $80

3 hours $300 booking deposit $100

4 hours $400 booking deposit $120

Booking fee by bank transfer

Message No.2

Sex

1 hour $100

90 minutes $150

2 hours $200

3 hours $250

Over night $300

Shot :unlimited shot

Booking fee is $50 by transfer

Message No. 3

Sex

1 hour $100

90 minutes $150

2 hours $200

3 hours $250

Over night $300

Shot :unlimited shot

Booking fee is $50 by transfer

Every time when you create a group in Telegram, within minutes, you can see a lot of females join the group and offer their services.

As the Admin of the group, you have to spend times to remove all these names.

I just wonder why Telegram allow these types of people joining.

All Telegram did was when you complained, they would show a message this message could not be displayed as it contained pornography or something to that effect.

as a result of which, it make the group pages very messy and meaningless.

And this filtering only happen after you complained, if you did not complain, you could see all the pornography in the group page, openly canvassing for business.

Why is Telegram allowing this type of posting on its platform?

It seems that Telegram only take action when some one complained, if not they will allow the posting of pornography in their platform.

We can notice all these pornography messages have bad influence and scammers and people with bad intention are taking advantage of it.

Since the privacy and security setting in Telegram is so good, I think even Telegram do not know who are the people using their platform for crime, vice and illegal activities.

You may want to read more about it in the link below.

https://www.gearrice.com/update/this-is-why-scammers-and-criminals-use-telegram-according-to-experts/

I am writing this based on what I come across in Singapore, a tiny city country and have a lot of scammers or whoever with ill intentions are using the platform.

The following news report in The Straits Times of Singapore gave some useful information about how the scam took place.

https://www.straitstimes.com/singapore/more-than-50-people-duped-by-scammers-through-telegram-this-year

Are any Authorities taking measure to control the social media platform to ensure the platforms take responsibilities in what contents are posted via their platforms?

social media like Telegram, Facebook, WhatsApp, Signal and Wechat as well as Tik Tok, are they doing anything to prevent users post offending, malicious and pornographic contents.

Or they take the easy way claiming it is the freedom of expression and use of their media platforms?

Some may claim there is no way they can monitor all the contents since thousands users are posting every minute, and the monitoring is a voluminous job.

Since nowadays every one is using AI to do the work, surely the platform owners can do something to curb these types of contents appearing in their platforms.

Advancement of technology pose a serious threat to the security of ordinary people.

The security and privacy claimed by certain social media platforms actually work into the hand of criminals and scammers , who love this type of features.

Most of the users of Telegram do not use their real names in creating their accounts, and Telegram allow that.

Why don't Telegram insist of real person registration since they claim their platform has privacy and security?

Government is asking its citizen to be more vigilant in the use of social media, however if the authority is serious, they should stop all these malicious contents in the social media by making the platform owners be more responsible and make them accountable for all contents and any crimes committed.

Anyone who has been scammed using the platform, the platform owner should be charged for abetting for the crime.

Some useful prevention methods you may want to read.

There is this article in the link below for you to learn more about Telegram scam.

https://www.csa.gov.sg/alerts-advisories/Advisories/2022/ad-2022-013

if you have any comments and feedback or want to share your experience, you may want to put it in the comments section.

I have been discussing this scam topic a few times.

It seems that the matter is getting worse as days go by.

Every day, there is a person falls to scammers' tricks and scam.

Despite all the alerts and measures, still there are people being scammed daily and losing their hard-earned money.

Some old folks have their savings wiped out by scammers.

People said old people tend to fall victims easily, however I had read news reports about even IT professional fall victims to scammers.

The latest hacking to get your money as seen in WhatsApp message as follows:

"Forwarded as received.

URGENT

Some people are going to upload pictures of the fighting in Jewish settlements on WhatsApp. The file is called Seismic Waves CARD.

Do not open it, it will hack your phone in 10 seconds and cannot be stopped in any way.

They talked about it on TV. A cyber attack on us from all kinds of directions is also starting.

Pass the information on to family and friends."

What are the popular scams nowadays?

Every day, we seem to see people fall victims with scams in the following manners:

1. Job scams

2. Malware scams.

3. Phishing scams.

1. Job scams

There are a lot of job scams, supposedly from job portals.

Scammers would message you via WhatsApp or any social media platform to introduce you to some jobs with commission.

I used to receive a few in my WhatsApp saying my profile in the job portal fit the requirement they are looking for.

The work involved giving some comments and reviews, by doing so, can earn some commission, about $35 per review, and one day at least do 2 reviews and comments.

If one falls into this trick, he will notice after getting commissions as promised for the first few reviews, then the payment stops.

Then, they will say you need to pay certain money to go for higher commissions.

After a while, you notice the commissions do not come in and realize the scam is in operation.

Another example of scam which i just received in my WhatsApp group

"AS RECEIVED

My cousin received a call, asking if he had been vaccinated, if vaccinated to press 1.

If not vaccinated, press 2. As a result, he pressed 1, the phone was blocked and his online bank information/account were all transferred. Please be Alert and Careful and forward to more people to know about this new trick/scam. Forwarded as received.

2

Your BANK Account can be Empty without Notice.

There is a HIGH TECHNOLOGY SCAM going on at this time called SIM SWAP FRAUD, it is said that hundreds of people have been affected, they suddenly found that their bank accounts were EMPTY

How does it work?

1. The new scam called SIM SWAP starts like this... Your phone network will suddenly go blank / Zero Signal / Zero Bar and after a while, you will get a call.

2. The caller will tell you that he is calling from your mobile phone company depending on your network and that there is a problem in your mobile network.

3. He / she will instruct you to Please press 1 on your phone to regain network. PLEASE... at this stage
don't Press anything, Just hang up or END the call.

If you press 1 ,
the network will appear suddenly and in a moment your phone will go blank again (Zero Bar) and with that action, your phone is ALREADY HACKED

In a few seconds they will empty your bank account, and you won't receive any notification. About it.

It will appear as if your line has been disconnected with no Network, meanwhile your SIM has been CHANGED.

The danger here is, you won't get any transaction alerts.

Let's be very careful.

Please, send this info to your contacts, loved ones and friends.
Fraud is increasing day by day.

Received from a Cybersecurity Group

Many people have been affected.
Please share so that more people are saved from this SCAM!

Copied"

2. Malware Scams

Malware always embed in the link sent by scammer.

if one clicks on the link in the message, it will activate the malware and your device will be infected with the malware.

depending on the device you are using, if you use your mobile phone, and you have been using the device for your banking activities, chances are once you click on the link, the malware will work in your mobile phone.

the end result is devastating, the malware will infect the device then the phishing will capture the information in your phones and send to the person who implant the malware.

3. Phishing

to quote from https://www.avertium.com/blog/ransomware-phishing-malware-difference

to quote-- "Phishing attacks are often a vessel to deliver malware that masquerades as a communication from a trusted or reputable source. This type of cybercrime can come in the form of an email, a phone call (fishing), or a text message (smishing). The most common conduit is through email, with 96% of phishing attacks in 2019 leveraging the tool." unquote.

A phishing attack may look or sound like it’s from a company, friend, or family member, even someone within your own organization and contain a request for privileged information, or a link or attachment that results in a malicious download. Common phishing scams seem to come from a bank, credit card company, social media site, or online payment site.

More sophisticated phishing attacks can be a fraudulent invoice, an alert about supposed suspicious activity from your account, a coupon or reward offer, or a fake confirmation notice. Phishing kits allow cybercriminals with limited expertise to spam attacks with authentic-appearing emails or text messages.

Introduction

In the first part of this, I talked about what are types of Facebook Scams.

Now we want to focus on how to avoid Facebook scams.

This may not be fool proof, but at least we need to develop best practice as much as possible.

Normally we get scammed because of our casual and don't care attitude, which may cause us dearly eventually.

some things we can do while using Facebook

1. Set your privacy setting correctly.

I will not go into details of this, all you have to do is to go to the privacy setting and set the privacy setting which suit you.

2. Enable two steps authentication,

some may find this tedious, well, normally if you do not want to suffer this pain, you may suffer a more serious pain later.

3. Check carefully before accepting friends request.

Sometimes this may be a bit difficult to deal with, especially for those who are using Facebook Page for their businesses.

If that is the case, then you may have to exercise your discretion and intelligent to determine whether to accept the friends' request. you may want to carry out a due diligent online to have some ideas of the so called friends' requests.

4. Do not click on any link you come across in any FaceBook post you are reading.

Normally when we are surfing some Facebook posts, they are some links in the posts.

It is advisable not to click on the link unless you know the pages and posts you are reading are from reliable sources.

Sometimes, we may surf some news posts posted and try to understand and learn more about certain subjects, then you may have to be extra careful about the links in the posts you are reading.

5. Change your passwords every few months.

It is advisable to change the password of your login now and then, preferably after a few months.

This is quite a good practice, as it keeps you on alert and not easy for others to hack into your password.

More so if you have a very strong password involving lower case, upper case, character and number and preferably more than 8 characters long.

6. Check your login history and review any irregular visits.

sometimes if we review the history of our login, if we discover some irregularity, we need to take step to rectify, perhaps report to Facebook immediately.

7. Do not do your online shopping in Facebook if possible.

I normally do not do my shopping online, as I like to support the provision shop near my place.

Shopping on shopping platform may be good but on Facebook? I would not do that.

Why can't you do it on the Merchant's website? why must it be done in Facebook?

these are some steps you may want to consider.

Now we talk about what we can do off Facebook to avoid the scam.

1. Ensure your computer or any device you used to login Facebook is properly protected.

when using your computer or laptop or mobile phone to login to Facebook, ensure you have a good operating system which is updated.

you may also want to ensure you shield your device from public eyes when you are doing the login.

2. Report any irregularity or emails from "Facebook".

Most of the time, we tend to just click on the inbox of our email when we see it is from Facebook, without checking clearly the email domain whether it is from Facebook.

If we do come across this fictitious emails, we need to report to Facebook directly.

3. Have a good anti virus program in your device.

It goes without saying that a good anti virus software help to eliminate the threat and harm.

4. Use your common sense and logic.

Sometimes common sense is still the best control we have to avoid the scam.

If we can apply common sense and come to our senses, we will detect the scam easily.

What happen if you have been scammed, what can you do to minimize the damages?

1. Report to Facebook immediately.

If you think your Facebook account has been compromised, you need to report to Facebook immediately,

Hopefully they will take action and recover your account for you.

To me, Facebook should be doing the due diligence when one wants to open an account with them,

2. Change the login password.

as mentioned earlier, it is good that you have some complex password and change your password now and then.

3. Freeze the credit.

once you know your account has been hacked, you should call the banks and credit cards companies to freeze your account immediately.

4. Inform banks and credit cards companies to stop the credit cards.

the timing of informing the banks and credit cards companies will minimize your losses due to the hacking of your accounts.

prompt reporting may also help you to recover your losses.

5. Check your device and re-set if need be.

checking device if you discover there is some irregularity in the way your device is operating, it is best you can re-set your device, as for mobile phone, go back to factory setting, while for laptop, reinstall the operation system.

These are some ways we can do to detect and avoid Facebook scam.

Conclusion

Hope this can help you to be aware of the scams going on so that you will be more alert.

If you have been scammed before or aware of any scam, do share your experience in the comments section below.

Facebook is one of the most popular social media.

People like to use Facebook to reach out and get in touch with others.

A lot of people are using Facebook to conduct their businesses and trying to gain as much as traction as possible.

Because of the popularity of Facebook, cybercriminals also use this to prey on their victims.

With so many users of this social media, cybercriminals treat this as their gold mine for them to get their victims.

If the cybercriminals can successfully catch a fraction of the users, it is a golden harvest for them.

What are the common scams in Facebook?

1. Phishing scams.

Phishing scams happen all the times, especially in Email, normally when you receive an email with a link, especially from an unknown sender, the best advice is to delete the email straight away.

The worst that can happen is you go and open the email and click on any link in it.

This may also happen in Facebook feed you are browsing, sometimes some fake Facebook account posted a news feed and you click on the link, that is the end.

You have activated the phishing malware embedded in the link.

The purpose of the phishing scam is to extract the information in your laptop or computer.

Now the cybercriminal is more sophisticated, they may engage you to talk in Facebook Messengers.

Once you are in continuous exchange of messages with them on Messenger, they may send you a link, since you have been in messaging with them, you may lower down your guard and decide to click on the link.

End result? whatever important information you have in your laptop/computer, especially your banking details, login details, credit cards details will be accessed by them.

2. Romance Scams

Romance scams are quite rampant in Facebook nowadays.

It becomes worse when Facebook allows user to open fictitious account, sometimes, you may think the profile of an account is a pretty lady.

Do you really think it is a pretty lady?

In fact, it is a man who is out to scam his victim, especially those who are love sick, or have preferences for females.

They think they can prey on the females, without realizing they are actually the target of the cybercriminals.

When the hook up is done, both parties will get into conversation and the "lady" will try to show she has been having a hard time, and need some help to tie over the predicament she is facing.

I have come across the following modus operandi a few times.

you would have some pretty faces who wanted to add you as friends, so you agreed to add them .

next they would message you via messenger and tell you they were seldom on Facebook and asked for your WhatsApp.

so you added them on WhatsApp, and they started chatting with you on that social media.

after chatting for a few days, the game started, during the first few days, the "lady" would tell you how she was dumped by her friend and now she needed to find her own living by working hard.

then telling you what work she was in and having one assignment, needed to get it done the soonest possible.

another day later, telling you that she encountered a problem and needed to purchase something online but not able to do so.

so she needed your help so that she could complete her work.

The moment she mentioned getting her an Apple Gift Card, that was the red flag telling you this was a scam.

another one which I came across was, she was having a meeting about investment.

She already opened an account but due to the work and company policy, she could not manage that account and needed you to help to administer the account.

3. Lottery Winning Scams

If you opened any Facebook page, you could see a lot of Pages about winning on gambling.

there were so many now on Facebook Pages and if you joined, they would send you a link.

The moment you click on the link, that would be the end of your personal data in your laptop.

4. Job Scams

this is a very common scam in Facebook, someone would post a job vacancy and promising so much in such a short time.

Cyber Criminals are cashing in on the current job market.

since there are quite a lot of people who lost their jobs during the height of pandemic, and every one was desperate to try to get a job so that they could put food on the table for the family.

in desperation, people may just respond to the advertisement for the job and provide the personal details to the scammers.

5. Shopping Scams

Facebook has evolved from one simple casual social networking tools into a large e-commerce tools for businesses to tap on the resources to increase their revenue.

Since every one is jumping into this platform to cash in on its popularity.

Cyber criminals also decided to set up bogus accounts representing certain brands, and using that to phish for information of the unsuspecting customers.

The scammers would post some out of this world offer which raised the impulse of people to buy, the too-good-to-be-true offer would blind the conscience of the people, then this would be the end for people.

6. Fake Friends Request Scams

Facebook does not really check on the identity of a person who opened an account with them, to them, the more accounts being opened, the better it would be, especially those business related accounts or PAGES.

They needed accounts holders to open more PAGES and promote the PAGES, the more account holders spend, the better for them.

Even though the accounts may not be a real account.

most of the time, we could detect that a lot of have pretty ladies as the profiles pictures and most of the times, the faces were the same.

When you accepted the friends request, you would want to look at what they posted.

a lot of them in their posts, you would see a lot of links or websites, and if you click on that, and your antivirus is good enough, it would flag the alert of the potential risks involved.

Conclusion

in my next post, I will be talking about the followings:

1. How to avoid Facebook Scam.

2. What you can do to be more alert.

3. What you can do if you are a victim of the scam.

For the time being, do give me your feedback and share your experience in the comments section below.

Crypto Scams – How to Avoid and Detect The Scam

Cryptocurrency is very common nowadays and everyone especially the young one is very keen to invest this instrument.

What Is Cryptocurrency?

Cryptocurrency is a virtual digital currency, no physical mean is transacted, it only works in virtual world.

If you send cryptocurrency to someone else, it is done through online transactions and it is not reversible.

Why do people nowadays like to use cryptocurrency?

Cryptocurrency transaction is online and fast. It does not work like banking transaction whereby the bank charge a transaction fee and need to verify your authenticity of the fund and purpose of the transactions.

Crypto transaction offers anonymity and the value of cryptocurrency varies and moves very fast, hence it is a very attractive item for investment.

A lot of people like to enter cryptocurrency as investment as they think it is another get rich fast investment with lucrative return within a short time.

As more and more people are jumping into the bandwagon of cryptocurrency, without really understand how it works, they are only after the high return cryptocurrency can give to them, and thinking this is the investment to go to.

What does this tell us with this hot potato?

Every time when there is some lucrative instrument which can help people to make money fast, the vulture will sure lurk around to prey on its victim.

The vulture is the scammers here, they will find ways and means to lure unsuspecting victims to invest in the scheme they design.

Then the main question is – how do you know it is a cryptocurrency scam?

Scammers always look for new ways go for investors’ money, they can come up with so many methods and tricks to draw the investors to give up their money.

What are the signals you can detect in spotting the scams?

1. If someone offer you some good investment opportunities and business deals.
2. They even offer you to double your investment return and
3. Achieving financial freedom you are looking for.
4. That you can get you investment in double quick time.
5. Telling you that you can pay in cryptocurrency if you can recruit others into their scheme.
6. Offering you help that they can help you to grow your money.
7. Asking you to login into certain trading platform.
8. Once you have done that, you realize you are not able to withdraw your money without paying a fee.
9. There are scammers who will post some scam jobs on job websites and they promise you a job if you pay a fee.
10. Some scammers even have videos made saying how lucrative is the scheme they have.
11. They even have celebrity to endorse their success and testimonials to show the track records.
12. A lot of people do not realize all the videos and testimonials are fake.

What are the common scams in cryptocurrency?

1. Phishing scams.
2. ICO scams
3. Malware scams
4. Crypto mining scams
5. Fake crypto exchanges scams

If you want to learn more about the common scams in cryptocurrency, you may want to read up this in https://mainstreetcrypto.com/articles/common-crypto-scams/. In here, it is more in-depth and informative.

What can you do if you think you have been scammed?

If you think you have been scammed, try to do the following as soon as possible.

1. Make a police report
2. Gather all the evidences.
3. Document all the evidence in chronological orders.

You can also report to the following organizations:

• the FTC at ReportFraud.ftc.gov
• the Commodity Futures Trading Commission (CFTC) at CFTC.gov/complaint
• the U.S. Securities and Exchange Commission (SEC) at sec.gov/tcr

for those who want to know which organizations are on the blacklists, you may want to check out the following:

https://authentic-review.com/2022/01/29/crypto-scam-list-2022-update/

https://tradersofcrypto.com/guides/crypto-scams/

Stay vigilant whenever you want to deal with cryptocurrency.

Some pointers for you to avoid falling into the scams

1. Always check the addresses and domains of the site you are surfing.
2. Never share your private information with any one else.
3. Be wary of easy money and fast returns on investment.
4. High risk high return, so do you believe it is good?
5. If you are in cryptocurrency, use a cold wallet.
6. Always use a new account to test out something new.
7. Leave as little in the wallets.
8. Use a 2FA verification method to login to your account.
9. Always check the rating of a platform.
10. Carry out due diligence before you embark on your cryptocurrency trading.

Conclusion

Do you still want to invest in cryptocurrency?

Despite all these reports about scams involving cryptocurrency, still we have a lot of people diving into this, this is typical human greed.

A greed to have more money in the shortest time possible and at all cost.

Some people have the mindset that this will not happen to them, and maybe they need to pay some school fees to learn a hard lesson.

At the end of the day, unless and until the government start regulating the cryptocurrency transactions, and unless you have done enough researches and learn more about the mechanism of cryptocurrency transaction.

Final Advice

The simple advice is to stay out of it.

With the recent rampant scam in the banking industries, especially towards the end of last year 2021, more people are alert to the scamming going on.

However, despite all this news about the scams in the banking industries, there are still a lot of bank customers fell into the trap of the scammers.

News report stated among those who fell victims to the scammers are professional and females.

One would have thought only elderly who are less savvy with information technology will fall prey to the scams.

the number showed otherwise, even as reported, IT engineer also one of the many victims.

The other group is the females, be it the professional, housewife or some who are emotionally disturbed. Scammers will look for those vulnerable.

What can we do to safeguard ourselves ?

to safeguard ourselves from falling victims to the scammers, and lose our lifelong savings, it is about time more people are to aware of this and take necessary steps to keep ourselves happy.

the age-old saying - do not talk to strangers, still hold true in this virtual world of advance technology.

most people seem to have forgotten this adage when come to online world, especially the young ones who like to communicate through virtual world.

We can at least do the following to safeguard ourselves.

1. Carry out due diligence on the other parties.

how many people online check on the background of the other parties they are dealing with?

when a person comes across some offers online, tendency is for the person to click on it and see the offer and like it, will purchase, without checking whether it is real or not.

Before you come to conclusion whether to deal with the person, do the following:

a. we should at least check the legitimacy of the website.

b. Read comments and review about the company,

c. Search online to see whether there is any about the person or company.

d. check whether the person whom you are supposed to deal with have any other social media accounts.

e. If the does, what did the posts and share in his account,

f. Carry out a check on anti scam website and see whether the name is listed in it or not.

2. Insist on a physical meeting.

One of the best way is to have a physical meeting, if the person on the other side refused to do so, then we can more or less about dealing with him.

well, the may say under the current circumstance, it is quite difficult to travel and meet up, then we can suggest a video call since the technology enable this virtual meeting a possibility.

3. Do not commit any decision instantly.

people tend to make instant decision nowadays, and scammers are taking full advantage of this.

nowadays people are impatient, especially when dealing with transactions online, they want it fast, so fast that until they do not bother to check clearly and carefully what they are clicking on.

4. Check for telltale sign that it is a fake website.

a lot of people when they receive a message, email or notices, they do not bother to check carefully to look for telltale sign of fake messages.

most people will just look at the headline and the sender name, and believe it is from the legitimate sender.

In Singapore, there are a lot of senders who like to use the following corporation or website names to send malware and phishing link.

1. DBS.

2. DHL.

3. LinkedIn.

5. Microsoft.com

6. MOH

7. POSB

these are just some example, if you check the domain names of the websites, it is not the original organization domain name, the email domain also look very different.

Are the measures announced by Monetary Authority of Singapore (MAS) effective?

MAS has since the phishing SMSes scam in December 2021, announced a few measures to further improve and strengthen the internet banking industry security.

1. Removing of clickable links in SMSes sent to customers.

last time banks used to send SMSes to customers with clickable links, this as explained by banks, it is to enable the customers to click on the link and get access to the website faster.

Scammers took advantage of this, especially when the banks used the shorten form of domain link, so it is quite difficult to check on the real domain name of the banks.

2. Delay the changes and updating of information of customers.

to make life easy for customers, banks used to say customers could now update their information online without making a trip to the branch.

with this scammer, after phishing the login particulars of the customers, happily do the changes and take control of the operation of the accounts of the customers.

now MAS want any changes and updating of personal particular such as phone number, login password and so on, be processed and be effective only after 12 hours.

you can read more about that in the following two links:

a. Singapore Government Media Statement.

b. Monetary Authority of Singapore announcement