5 Ways to Avoid being SCAMMED

Nov. 9 2019, by Ron Ben-Ari - Managing Director Tessa International Asset Recovery Inc.

There are many types of frauds out there, however, we will focus on scams targeting your finances.

Scammers will go to great lengths to steal your personal and financial information.  Here are some of the ways they attempt to do this:

Phishing: Cybercriminals create fake emails that look like ‘real' emails from your bank or financial institution asking you to reply with personal information. Be particularly cautious if you're ever asked to provide sensitive information (your name, password, account number, personal ID details) – your financial institution would never request such personal information by email. Also, avoid links in emails that take you to websites other than your online banking site. That said, it is best to enter your bank’s website using your own quick links or entering it manually on your computer.

Malware: This is malicious software that cybercriminals spread online and can get onto your computer in a number of ways. While you believe you're banking safely, it can:

A. Steal account information, passwords and other identifying sequences by capturing your keystrokes and,

B. Hijack your account and transfer funds without your knowledge. This is done with software that launches a hidden browser window on your computer that logs in and accesses your account.

Spoofing: Attacks by cybercriminals involve redirecting your access to a legitimate website to a fake website (also known as "pharming") that looks like the real one, but isn't. It may appear very similar to your online banking site and include extra fields on forms that you enter (ID number, date of birth, mother's maiden name, name of your best friend. Etc.) and, without realizing it, you submit this information directly to your bank and to the attacker.

A good rule of thumb when you're navigating online: always look for the "lock"

symbol (as seen at the extreme left of the address bar shown on the right) and an https:// connection to ensure that you have a safe connection before divulging any personal details. Financial institutions always have your best interest in mind and do their best to provide you with a safe Internet banking experience.

Whenever contacted personally by phone or via e-mail, do not allow yourself to be pressured to make immediate decisions or provide any information.  Hedge your time and use it to investigate each and every claim or association provided by the caller.  Never use links provided in e-mails; Google the quoted source and contact them directly to corroborate any affiliation or call to action supposedly required on your part.

Get as much information from the caller and write it all down!  Ask for full name, institution represented, location, callback numbers and extensions, hours when they can be reached (this will sometimes shed light on time differences, which will reveal a different geographical area than they claim to be in).  Be friendly and discretely try to get personal information about accents and background noises, etc... For example: Too much silence or the sound of dogs barking in the background may contradict a claim that the call originates from a call centre representing your bank.

For example, if you receive a call from Tessa International Asset Recovery Inc., and are sent an e-mail with links to the company website or the Better Business Bureau (BBB) qualification of the company, it is recommended that you Google Tessa International Asset Recovery Inc. Using the full company name, carefully compare the telephone number and call back.  Likewise, search online for the Toronto BBB website and enter that site to search for Tessa International Asset Recovery Inc.’s accreditation.