Ten tips to protect yourself from online scams

The convenience of online shopping is undeniable. You can browse hundreds of items from the comfort of your home and make a purchase anytime with just a single tap. However, while it is convenient, it might come at the cost of higher vulnerability from cyber crimes and scams. With increased reliance on digital technologies, e-commerce platforms, mobile devices and websites have become the prime platforms for scammers to target unsuspecting shoppers to steal personal information or money.

Indeed, online scams are becoming more prevalent – online scams have hit an all-time high, surging to 31,728 cases here last year, as reported by the Singapore Police Force¹. After all, scams are not so easy to spot. Phishing scams, the most common type of scams in Singapore, grew by 41.3% in 2022 compared to 2021. E-commerce scams, the third most common type, increased by 74.5% in the same period.

But not all hope is lost – an enjoyable and safe online experience is still possible if you practice good cyber hygiene. This article aims to provide tips to strengthen your cyber protection, minimise your risks and stay safe and secure online.

Tip #1: Learn to spot fake emails, SMSes and websites (watch out for phishing)

One of the most common ways scammers target unsuspecting individuals is through fake emails, SMSes, and websites. These phishing attempts can look very convincing, with logos and branding closely resembling legitimate companies or organisations. In addition, they may dupe you into clicking on suspicious links. You can learn more about identifying scam emails, texts and websites, or see how ScamShield can protect you against scam calls and text messages.

Tip #2: Use secure websites

According to Cyber Security Agency of Singapore², a secure site means that the information shared between the website and the browser is encrypted and cannot be easily accessed by bad actors.

That said, a secure website does not guarantee its legitimacy. Some sites can be secure yet unsafe and bogus³, which is why practicing good cyber hygiene is crucial. Follow the tips in this article to stay safe online.

Tip #3: Change your passwords regularly

You can be proactive in strengthening our cyber protection too, for example, by changing your passwords often. This is because cybercriminals can use various methods, such as checking ‘password dictionaries’⁴, to crack passwords and gain unauthorised access to your accounts. Hence, we can reduce the likelihood of such attacks being successful by changing our passwords frequently.

When choosing a new password, don’t make it simple for easy memorisation. Use a combination of upper and lowercase letters, numbers, and special characters. For example, a password such as ‘Th!$isa$+r0ngpswrd’ is harder to crack as compared to ‘qwerty’. Want to know if your passwords are strong? You can now check the strength of your passwords.

Tip #4: Turn on 2-step verifications and set notifications for all credit/debit card transactions

The Covid-19 pandemic has led to a rise in credit card frauds in Singapore⁵. To protect yourself from unauthorised transactions, turn on 2-step verification and set notifications for all credit and debit card transactions. This helps you track activities on your cards. If you see a notification for a transaction that you didn’t make, you should contact your bank immediately to report the fraud and cancel your card.

Tip #5: Check credit card statements regularly

Likewise, you should regularly check your credit card statements, in case of fraudulent transactions. If you notice unauthorised charges⁶, immediately report the issue to your bank. The sooner you act, the more likely your bank can reverse the payment, cancel the card, and issue a new one. Apart from cyber hygiene, regularly checking your statements keeps you aware of your spending and could go a long way towards helping you stay on track to achieving your financial goals.

If you have personal cyber insurance, such as FWD Cyber insurance, it could provide you with some financial protection for fraudulent electronic bank transfers.

Tip #6: Use anti-virus software

Another way to strengthen your cyber defence is by protecting your devices. This can be achieved through the installation of anti-virus software, which aids in the detection and removal of harmful software or malware from your computer or mobile device. Employing anti-virus software significantly reduces the possibility of cybercriminals stealing your personal information or compromising your device.

Tip #7: Update your software and devices regularly for the latest security patches

It’s also essential to keep your software and devices up-to-date with the latest security patches and updates, as cybercriminals always look for ways to exploit vulnerabilities in software and operating systems. To address this, software companies and device manufacturers regularly release updates and patches to mend these vulnerabilities. Cybersecurity experts have our backs too – recently, Singapore Computer Emergency Response Team have urged Apple users to install the latest security updates that fix the security weakness.

Tip #8: Use a virtual private network (VPN) when accessing public or free Wi-Fi networks

Maybe you enjoy working out of cafes and frequently use the cafes’ power points and public Wi-Fi networks. If you do, you might want to utilise a VPN, especially when retrieving sensitive work-related information. A VPN makes it difficult for bad actors to intercept your online activity and gain access to your data.

Tip #9: Avoid sharing personal or sensitive information with unverified entities

We typically don’t share personal or sensitive information with strangers. Likewise, shouldn’t we also avoid sharing them with unverified entities? For example, when you are just starting on your first job and building your professional network, you don’t have to give out too much personal information. Scammers and other cybercriminals are known to use various tactics to deceive us into divulging such information. Thus, exercise extreme caution when sharing personal information online, and always verify the authenticity of the request and the source.

Tip #10: Be cautious when making online purchases

Before providing any personal information or making a purchase, conduct some research on the website to determine its authenticity. Use only trusted e-commerce platforms with a positive track record, genuine customer reviews, and with written refund policy in case of undelivered goods or services.

Be wary of vendors located outside of Singapore or those offering suspiciously low prices. When it comes to payment, ensure that the website uses secure payment methods. In fact, there are several ways an e-commerce scam can happen.

Stay safe while you shop online

Shopping online can be convenient and efficient, but it also poses risks. Which is why it’s crucial to always stay vigilant and be cautious of suspicious activity.

To give you a peace of mind when shopping online, you may also consider mitigating your online risks by having cyber insurance that provides coverage for online scams. Enjoy worry-free experience online with FWD Cyber insurance with coverage of S$5,000 for online shopping fraud and another S$5,000 for fraudulent electronic bank transfers.

You will receive twelve months of complimentary cyber coverage¹⁰ when you purchase or renew your FWD Home insurance. Find out more information about our complimentary cyber insurance.