How to protect yourself from cyber fraud: Tips to avoid online scams

Have you ever been targeted by a cyberattack? If not, consider yourself lucky. Cyber scams have become an everyday nuisance, and I encounter them almost daily.

Every time I open my mailbox, there are emails demanding payments for traffic fines, pending postage dues, or unpaid courier fees. Some even offer refunds. All these are designed to lure me into clicking on their links.

These emails often look legit. They come disguised as official messages from well-known companies, so convincing that even the most cautious can fall for them. I’ve clicked a few myself. Luckily, I’ve managed to escape mostly unscathed. Now, I know the drill — I don’t fall for them anymore.

The real danger lurks in credit card fraud. I’ve watched OTPs (one-time passwords) flash across my phone screen. I reacted fast, blocked my card, and reported the bogus transactions.

Thankfully, my bank always refunded me. But I’ve heard horror stories where banks refused, saying the transactions were legitimate. Here’s the catch: some transactions don’t require an OTP, and that’s when you get caught out.

What if this happens while you’re asleep? By the time you wake up, the damage is done. Banks know this and generally help. They constantly warn customers about cybercriminals lurking online with regular newsletters and advisories. These criminals are relentless, prowling for easy targets.

Cyber fraud is the crime of our times. Interpol calls it a “global crisis — a serious and imminent threat to public safety.”

Today’s scammers use AI-generated emails, deepfake voices and images, fake websites, and phishing attacks so sophisticated you can’t tell them from the real thing. We’re all vulnerable. According to the World Economic Forum, cybercrime costs the global economy over $1 trillion every year. That’s a staggering number demanding global cooperation.

Big corporations shell out millions to shield their data. Forums like the Global Anti-Scam Alliance foster intelligence sharing because the fight against cybercrime needs teamwork.

But here’s the real twist: cybercriminals don’t always need to hack your device. They hack you. They prey on trust, urgency, and fear — and their tricks keep evolving. It’s downright scary.

So how do you protect yourself and your hard-earned money? Vigilance and a dose of common sense are your best weapons.

Stay alert. If something sounds too good to be true, it probably is. Don’t get lured by promises of easy money.

Think before you click. Links are doorways to your device — only open them if you’re 100 per cent sure they’re safe. When paying fines or fees, or claiming refunds, always go directly through official apps or websites.

Suspicious emails? Scrutinise them carefully. Typos and awkward phrasing are giveaways. Check the sender’s email address for subtle misspellings — fraudsters get creative.

Beware of impostors posing as security or anti-money laundering officials. Remember, these agencies never ask for credit card details or OTPs over the phone. If someone does, it’s a scam — hang up immediately.

Your OTP is your fortress. Never share it with anyone. Once it’s out, recovering stolen money becomes almost impossible.

Since some transactions don’t require OTPs, keep a close eye on your phone for any unauthorised activity. Report suspicious transactions to your bank immediately. Speed is crucial.

Review your bank statements weekly using your app or online banking. Spot anything unfamiliar? Notify your bank without delay.

Credit and debit cards are prime targets. Freeze or temporarily block your cards when not in use — unfreeze only when you need them.

Lower transaction limits and daily spending caps can save you headaches. Many cards allow you to block international usage — you can set these restrictions easily from your phone.

Personally, I’m a fan of digital wallets — load them with just enough for daily expenses. For bigger buys, I use my credit card but keep it locked down and only unfreeze it when necessary.

The key is to stay sharp. Cybercriminals never stop innovating. Their methods constantly evolve to outsmart security systems. So, we must remain alert. Always.