Protect your personal information from fraudsters, know their scams

Protect your personal information from fraudsters, know their scams


Scammers unfortunately are everywhere. With the rapid digital acceleration brought about by country-wide lockdowns and stay-at-home orders, it’s forced scammers to learn new innovative ways to access personal and financial information.

Fraudsters are always looking to take advantage of individuals, businesses, and even significant world events, like the COVID-19 pandemic for example.

A study carried out by TransUnion, titled The Global Consumer Pulse Study, found that 36% of consumers say they have been targeted by digital fraud related to COVID-19 in the past few months. They also documented a 21% increase in reported phishing attacks among consumers.

With this in mind, it is always important to update your knowledge and understand what scams are being carried out and how.

Here are some of the latest ways scammers are trying to access your personal information:

  1. Phishing scams is a term commonly used where criminals use your email address to provide them with personal financial information. The sender may pretend to be from your bank, retail store, or even a government agency. Subject lines, such as ‘You’re a victim of fraud’ or an urgent-sounding message, are used to frighten you and trick you into providing information without thinking.
  2. Smishing scams are similar to phishing, but they text you instead of emailing. Scammers pretend to be from an organization you might know to try and gain your financial information.
  3. Vishing scams, again, are similar to phishing and smishing, but scammers will use a live phone call to get your attention. This could be a ‘robocall’ or voicemail that sounds as though it is from a legitimate business or government official.

So now you know some of the ways online scammers will try to get you to part with personal information, here are some of the ways to stay safe online:

  • Stay vigilant! Always be suspicious if you receive an email, text, or call unexpectedly where you are asked for personal information in any way.

  • Only open emails, click links, respond to text messages or voicemails/calls from people or organizations that you know.

  • Professional businesses will seldom send out any correspondence with grammatical errors, so always take note of the spelling in each communication. If it is written badly or has mistakes, it’s probably not legitimate.

  • Only use secure WIFI networks that you trust.

  • Check the URL address bar for spelling mistakes and use HTTPS secure connections only.

  • Change your passwords regularly, and always use strong and unique passwords for each online account you create. It’s also a good idea to disable automatic logins.

  • Configure two-factor verifications on your accounts and 3Ds verification when making online transfers to enhance security.

  • Regularly update all apps and never download suspicious programs.

  • Only download apps from official app stores.

  • Install anti-virus software on your smartphone.

  • Bottom line, NEVER share your sensitive personal information with anyone!

It is always important to keep up with industry changes and technology updates to avoid online scams. Even when you think you are being safe because you are sticking to a method you are used to, like transferring money by physically going to your bank, you are still at risk.

Today, online money transfer systems utilize the latest fraud prevention and security measures available. Companies, such as have created their own proprietary algorithms that continuously monitor for fraud and limit the number of security breaches, staying one step ahead of fraudsters. have adopted a multi-layer security system, including the use of a one-time passcode being sent to your registered phone number every time you want to log in, entering your CVC or CVV code, and passing the 3Ds verification when making a transfer. All information that is used to make online transfers using is fully encrypted, no personal data like your card numbers are stored, only you can see your personal financial information.

It has never been safer or easier to pay a friend back, split a bill, pay for a taxi, or send money to your family overseas. With applications like, you never even have to leave the comfort of your own home, and all you need is a smartphone and email address to create an account.

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