The internet has become the largest marketplace in the world.  Millions of individual buyers, sellers and merchants are just a few clicks away.  Sadly, so are scammers.

Preventive Measures

Reports of million-dollar internet frauds or network breaches made by hawkers are becoming an everyday occurrence.  So much so that the safety in making online purchases and transacting business over the internet has become major concerns for its users.  There are ways to safeguard yourself in the internet.

It can be very hard to determine who reputable online sellers are and who are plain criminals using the internet to rob people.  One thing about most retailers that offer value for money and provide fair treatment to their customers at their brick-and-mortar stores is that they behave the same way online.  Reliable companies make a serious effort to reassure online shoppers through the use of secure locations online wherein their customers can confidently carry out transactions.

If you are dealing with a company for the first time, it is important to get the real address, phone number and at least one contact name.  Unfamiliar web sites can be checked with the state or local consumer protection agency.  Use the feedback forums to get useful information of how sellers conduct their business in the eyes of actual customers.

A seller who has no complaints on record is not a guarantee in any way of its reliability or legitimacy.  It is a fact that fraudulent web operators open and close quickly so as to escape detection.  Excessive pressure applied by illegitimate companies for customers to act immediately or their resistance to a “no” answer is all part of a carefully planned operation to defraud customers.  They would not give buyers time to arrive at a decision but rather put much emphasis on the urgency of deciding at that very instant. Buyers always have a choice whether to buy or not.

Be wary of promises of easy money and rewards.  Claims of being able to earn money with little or no work at all are almost always scams.  When an offer is so unbelievable that it defies common sense, it is probably an attempt to get the attention and willful cooperation of victims.  Online contests operated by unfamiliar companies have been known to be used by fraudulent marketers to identify potential victims through contest entry forms.

Guard your personal information so that it will not be used against you such as unauthorized charges on your credit card.  Many online companies collect two kinds of information with regards to the user – personal and data about pages visited as well as purchases made.  You should be suspicious if you receive any communication requesting for any information that you have already given.  This is an often used tactic to steal important information of a person. Do not answer unsolicited emails as this will just confirm your email address which may result to more unwanted messages from strangers.  It would be best to contact the legitimate business or the actual person who supposedly sent the message to effectively rule out fraudulent emails.  Avoid dangerous downloads by sticking to the sites you know and trust.

Understand fully the offer of any time for sale.  Product or service details should be very clear including the total price, delivery time, refund and cancellation policies and warranty terms.  Choose the safest way to pay which provides substantial protection from fraud.

Buyers should know exactly how complaints are handled just in case the sale doesn’t end the way it should.  Information about programs in which the seller participates in that requires rigorous standards of handling of complaint and uses of personal information are very useful.  Third-party seal of approval such as from the Better Business Bureau can be a critical factor.

What to Do when Victimized by Internet Fraud

What is left for you to do when you get victimized by fraud or a scam in the internet?  The very first thing to do is to contact the genuine company to lessen any possible damage that might be brought about by revealing sensitive information to a fake company.  For scams involving online purchases, inform the auction sites of any misdemeanor or outright fraudulent activities so the proper action can be taken.

It is of paramount importance that all affected accounts be reported.  This can be done through direct communication with the security or fraud department of concerned banks, financial institutions, credit card companies and internet service providers.  A follow-up letter is in order, a copy of which should be kept as a personal copy.  When it is necessary to open new accounts, use strong passwords and not passwords that can easily be arrived at using personal information of you and your family.

Change the passwords on all existing online accounts especially those related to financial institutions or information.  Place a fraud alert on credit reports and specifically request that no new credit be granted without your approval.  Request further that the alert remain active for the maximum number of years.

Identity Theft is usually perpetuated online through the phishing scam.  Scammers will try to get people to disclose valuable personal data such as credit card numbers, passwords and accounts data through false pretenses.  These are usually delivered through spam email or pop-up windows.  The websites they would link to appear very much like the official sites.  Unsuspecting people respond with nary a thought that doing so could lead them to substantial losses and inconveniences.

If you believe you have unknowingly revealed vital information due to the phishing scam, you should routinely review credit card and bank statements for any unauthorized transactions.  After duly reporting the incident to the proper authorities, you stand to benefit from the use of up-to-date anti-virus and anti-spyware software.  Extra diligence would be required to ensure that all accounts remain in order.

The choice of a new password for proper protection of all threatened accounts should look like a random string of characters to an attacker.  It should be lengthy with at least 14 characters.  If your system supports the use of space bar in passwords, create a pass phrase to make it longer and thus harder to guess.  The words and phrases should be easy for you to remember but difficult for others to guess.  Combine letters, numbers and symbols, making use of the entire keyboard, instead of limiting use to the most common characters.