Thursday 7 December 2023

Avoid these 5 mistakes to not fall victim to a digital scam

Learn about the most common mistakes made with financial transactions online

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7 December 2023 - At The Banks - Source: BCCR

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Q COSTA RICA – The use of technology and the digitization of financial processes have allowed for greater ease and comfort when carrying out many banking transactions, but it has also brought an increase in digital scams.

Be skeptical. Check things out thoroughly. Never make decisions in a hurry!

Despite the fact that technological advances make it possible to prevent a large part of these scams, sadly the weakest link continues to be deceiving the user, and the so-called cybercriminals take advantage of the slightest carelessness to violate the security of their victims.

That’s why it’s important that people stay on top of the tricks scammers use, develop “malicia” (malice) to recognize when you’re at the mercy of a scammer and avoid making the most common mistakes that make them easy targets for digital scams.

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“Financial education is a fundamental pillar in the prevention of fraud and digital scams. On many occasions, people are victims of these crimes due to a lack of knowledge and caution, as well as overconfidence when making online transactions.

“It is important that users are aware of the risks they are exposed to when browsing the Internet and that they adopt security measures to protect their data and finances,” says Laura Moreno, Vice President of Corporate Relations, Sustainability and Marketing at BAC.

For this reason, the BAC provides valuable information on the most common mistakes made when carrying out this type of procedure:

  1. Sharing personal or financial information with strangers: One of the biggest risks is sharing sensitive information through social networks, chats or emails, especially if the source is unknown. Be suspicious of any phone call that asks you to enter websites where you will have to enter sensitive information such as username, password or that asks you to give codes over the phone that arrive in your email.
  2. Failing to verify the authenticity of websites: When conducting transactions online, it is essential to verify that the website is authentic and secure. Make sure the site address starts with “https://” and has a closed padlock in your browser’s address bar (denotes a secure server.

    For example, look up, at the address line for this page. It starts with… rather than http://. This has an extra cost for us, but your browsing of our website is secure.

  3. Connecting to any public network to make transactions: If you have to make banking transactions, avoid doing it connected to the Internet on public networks. Also avoid using “hacked” programs, browsing insecure or questionable pages with work devices or that you use to carry out banking transactions, and never store passwords in web browsers.
  4. Falling for the scam of tempting offers: On many occasions, scams are presented in the form of tempting and attractive offers that are not real. It is important not to get carried away by these promotions, prizes or gifts without first verifying their authenticity.
  5. Insecure passwords: When creating passwords to access banking services, it is important that they be longer than 10 characters, combining upper and lower case letters, numbers and signs. Do not repeat a password in more than one application, service or website, change it periodically and activate the double authentication factor in all possible accounts (bank, email, social networks, applications).

Recommended is to maintain caution online when transacting onlin. If you suspect a scam, do not hesitate to contact your bank and report any suspicious situation. Financial education is the best tool to prevent fraud.

“At BAC, we are committed to continue working on the financial education of our clients and of society in general, to prevent and combat online crime. Only through education and collaboration can we achieve a safer and more reliable environment in the digital world,” concludes Moreno.

What are digital scams?

The use of digital devices such as computers, tablets, and smartphones to commit fraud online has become increasingly common, leading to losses of money, personal information, and passwords for victims.

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While the Internet has made it easier to connect with a large number of people, criminal organizations have taken advantage of this to commit digital scams on a global scale.

Be aware that scammers may try to pressure you into making a decision quickly by offering limited opportunities or by lying about urgency.

Remember the Fundamentals. Be skeptical. Check things out thoroughly. Never make decisions in a hurry!

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"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

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