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Payment applications make splitting restaurant bills, taxi fares, and household expenses so much easier. Without having to tally totals at the table or fumble with crumpled bills, you and your companions can spend less stress and more time on the fun at hand.
There are various payment apps available, and the company that may first come to mind is PayPal. PayPal is regarded as a safe platform where security and strong encryption are a priority; however, a recent and advanced phishing scam is putting PayPal users at risk of giving up large sums of money and their personally identifiable information (PII).1
Let’s look at this “triple-pronged” PayPal phishing scam and review some tips to help you identify and proceed should you encounter it.
The typical part of this three-sided scam is the phishing email component. According to one source, the phishing email comes from a legitimate-looking PayPal service email address. Luckily, the typos, odd punctuation, extra spaces, and grammar errors in the body of the email give away that it is a phishing attempt. Remember, phishing emails are often worded poorly or have errors. Large companies, especially ones like PayPal, have teams of content experts vetting all automated messages for such mistakes, so several mistakes in an email should set off your alarm bells. Proceed with caution and do not click on any links in the message.
The email also included wording that encouraged the user to act quickly or be charged a lot of money. That’s another trademark of phishing emails: urgency. Take a deep breath and make sure to reread carefully all emails that “require” a quick response. Don’t be scared by dire consequences. Phishers rely on people to rush and not give themselves time to listen to their better judgement.
The PayPal phishing email included a support phone number that claimed it was toll free. In actuality, it was an international phone number. So, if the recipient of the phishing email didn’t quite believe the message but wanted to follow up, the scam could catch them with what’s called a one-ring phone scam.2 This occurs when someone unknowingly calls an international phone number and then gets charged by their phone company for the long-distance call.
The best way to avoid one-ring phone scams is to never call a number you don’t recognize. Always go to an organization’s official website to find their contact information.
The third dimension of this PayPal scam was the international phone number in the phishing email connected the caller directly with the scammer who posed as the PayPal fraud department. The “customer service representative” then asked prying personal and financial questions to glean enough PII to break into a PayPal account or compromise the caller’s identity. This is the most damaging part of the scam. An excellent customer support team may be able to reimburse you your lost money; however, once your personal details are in nefarious hands, you can’t take them back.
In addition to never calling numbers you haven’t verified, never give out passwords and never give out more personal information than you need to. Even in legitimate customer service calls, it’s not rude to ask why the representative requires the information they’re asking for. In a fake call, questions like that may fluster the scammer, so keep an ear tuned to their tone.
Overall, our best advice for handling suspicious emails is to delete them. If it’s truly important, the sender will contact you again. And if a thief somehow stole money from one of your payment apps, the customer service team should be able to walk you through the steps to recover it.
The transfer and handling of large sums of money would make anyone nervous. To give you peace of mind, consider partnering with a service that can help you recover should you ever fall for a scheme and compromise your PII. McAfee+ Ultimate helps you live your best life in private, and the service includes credit monitoring with all three credit bureaus, security freeze, and expert online support to help you navigate any scams you encounter.
Having McAfee+ can protect you from email phishing scams like this. Here are some of the top agencies to report this scam to, if it happens to you: Paypal Fraud Department, Federal Trade Commision , Cybersecurity & Infrastructure Security Agency USA.gov IC3
“Report it. Forward phishing emails to reportphishing@apwg.org (an address used by the Anti-Phishing Working Group, which includes ISPs, security vendors, financial institutions, and law enforcement agencies). Let the company or person that was impersonated know about the phishing scheme.” – FTC.gov
1ZDNET, “Watch out for this triple-pronged PayPal phishing and fraud scam.”
2Federal Communications Commission, “‘One Ring’ Phone Scam.”
The post A PayPal Email Scam Is Making the Rounds: Here’s How to Identify and Avoid It appeared first on McAfee Blog.
An old banking scam has a new look. And it’s making the rounds again.
Recently Bank of America alerted its customers of the “Pay Yourself Scam,” where scammers use phony fraud alerts and trick their victims into giving them access to their online banking accounts. It’s a form of phishing attack, and according to Bank of America it goes something like this:
The good news is that you can avoid this attack rather easily. If you receive a text or call about a possible fraud alert, don’t respond. (Scammers can easily “spoof” or fake caller ID information nowadays. So even if it appears that the number looks legitimate, it may not be after all.) Instead, contact your bank directly using the contact information on your debit or credit card. This way, you’ll know you’re speaking with the proper representatives about the matter.
Of course, this scam isn’t the only scam making the rounds these days. Whether it’s with some form of phishing attack, stealing passwords on public Wi-Fi, or malware that spies on your keystrokes, scammers use plenty of tricks to crack into online bank accounts. Yet with a few precautions and a sharp eye, you have several ways you can protect yourself.
Online protection software today goes far beyond antivirus. It can protect your privacy, identity, and your online accounts as well. McAfee+ Ultimate provides our most comprehensive coverage with features that monitor the dark web and sketchy data broker sites for your personal information, identity theft and ransomware protection, and identity restoration services should the unexpected happen—all along with our award-winning antivirus protection. In all, it protects you, not just your devices. Together, it offers your strongest line of defense in the face of hackers, scammers, and thieves.
Legitimate banks will never pressure, harass, or cajole you into action. If you get a message that strikes an aggressive tone, assume it’s fraudulent. Other things legitimate banks will never do include:
Earlier, I mentioned contacting your bank directly to ensure you’re speaking to a proper representative. Another way you can go directly to the source is to use your bank’s website or app to check up on your accounts. Once again, don’t click any links in a text or email. Just go to your bank’s website or app to check your account. You can make sure you have your bank’s official app by visiting the Google Play or Apple’s App Store and looking at the information section to ensure that it was indeed developed by your bank—not a copycat.
Strong and unique passwords for each of your online accounts can help keep hackers at bay. With data breaches occurring so often, updating them regularly is important too. Yet with all the accounts we keep, that can mean a lot of work. However, a password manager can create those passwords for you and safely store them as well. Comprehensive security software will include one.
Two-factor authentication is an extra layer of defense on top of your username and password. It adds in the use of a special one-time-use code to access your account, usually sent to you via email or to your phone by text or a phone call. In all, it combines something you know, like your password, with something you have, like your smartphone. Together, that makes it tougher for a crook to hack your account. If any of your accounts support two-factor authentication, the few extra seconds it takes to set up is more than worth the big boost in protection you’ll get.
When you log onto public Wi-Fi, potentially anyone can see your internet activity—and that includes things like entering your username and password. For that reason, only log into your bank account with public Wi-Fi if you’re using a virtual private network (VPN). McAfee Secure VPN protects your privacy by turning on automatically for unsecured networks. Your data is encrypted so it can’t be read by prying eyes. The VPN also keeps your online activity and physical location private and secure from advertisers.
Keeping an eye on your bills and statements as they come in can help you spot unusual activity on your accounts. A credit monitoring service can do that one better by keeping daily tabs on changes to your credit report. While you can do this manually, there are limitations. First, it involves logging into each bureau and doing some digging of your own. Second, there are limitations as to how many free credit reports you can pull each year. A service does that for you and without impacting your credit score.
Depending on your location and plan, McAfee’s credit monitoring allows you to look after your credit score and the accounts within it to see fluctuations and help you identify unusual activity, all in one place, checking daily for signs of identity theft.
When a fraud notification pops up on your phone, you can almost feel your stomach drop. Hackers and scammers play off that fear. They use it to get you to act—and to act quickly. Taking a moment to scrutinize these messages and following up directly with your bank can help you steer clear of their tricks. Likewise, putting up a strong defense with comprehensive online protection software can make you safer still. In the meantime, keep your eyes open for this “Pay Yourself Scam” and other scams like it. It’s certainly not the first of its kind, and it won’t be the last.
The post Steer Clear of the “Pay Yourself Scam” That’s Targeting Online Bank Accounts appeared first on McAfee Blog.
There used to be a time when one roommate split the cost of rent with another by writing a check. Who still owns a checkbook these days? Of course, those days are nearly long gone, in large part thanks to “peer to peer” (P2P) mobile payment apps, like Venmo, Zelle, or Cash App. Now with a simple click on an app, you can transfer your friend money for brunch before you even leave the table. Yet for all their convenience, P2P mobile payment apps could cost you a couple of bucks or more if you’re not on the lookout for things like fraud. The good news is that there are some straightforward ways to protect yourself.
You likely have one of these apps on your phone already. If so, you’re among the many. It’s estimated that 70% of adults in the U.S. use mobile payment apps like these. And chances are that you have more than just the one. Only 25% of adults in the U.S. use just a single payment app.
Yet with all those different apps come different policies and protections associated with them. So, if you ever get stuck with a bum charge, it may not always be so easy to get your money back.
With that, here are seven quick tips for using your P2P mobile payment apps safely.
In addition to securing your account with a strong password, go into your settings and set up your app to use a PIN code, facial ID, or fingerprint ID. (And make sure you’re locking your phone the same way too.) This provides an additional layer of protection in the event your phone is stolen or lost and someone, other than you, tries to make a payment with it.
What’s worse than sending money to the wrong person? When paying a friend for the first time, have them make a payment request for you. This way, you can be sure that you’re sending money to the right person. With the freedom to create account names however one likes, a small typo can end up as a donation to a complete stranger. To top it off, that money could be gone for good!
Another option is to make a test payment. Sending a small amount to that new account lets both of you know that the routing is right and that a full payment can be made with confidence.
Bye, bye, bye! Unlike some other payment methods, new mobile payment apps don’t have a way to dispute a charge, cancel a payment, or otherwise use some sort of recall or retrieval feature. If anything, this reinforces the thought above—be sure that you’re absolutely making the payment to the right person.
Credit cards offer a couple of clear advantages over debit cards when using them in association with mobile payment apps (and online shopping for that matter too). Essentially, they can protect you better from fraud:
Report any activity like this immediately to your financial institution. Timing can be of the essence in terms of limiting your liabilities and losses. For additional info, check out this article from the Federal Trade Commission (FTC) that outlines what to do if your debit or credit card is stolen and what your liabilities are.
Also, note the following guidance from the FTC on payment apps:
“New mobile apps and forms of payment may not provide these same protections. That means it might not always be easy to get your money back if something goes wrong. Make sure you understand the protections and assurances your payment services provider offers with their service.”
It’s sad but true. Crooks are setting up all kinds of scams that use mobile payment apps. A popular one involves creating fake charities or posing as legitimate ones and then asking for funds by mobile payment. To avoid getting scammed, check and see if the charity is legit. The FTC suggests researching resources like Better Business Bureau’s Wise Giving Alliance, Charity Navigator, Charity Watch or, GuideStar.
Overall, the FTC further recommends the following to keep yourself from getting scammed:
With so much of your life on your phone, getting security software installed on your it can protect you and the things you keep on your phone. Whether you’re an Android owner or iOS owner, mobile security software can keep your data, shopping, and payments secure.
The post Avoid Making Costly Mistakes with Your Mobile Payment Apps appeared first on McAfee Blogs.
Tax return preparation might be a little more complicated this year than usual for many Canadians with millions receiving Canada Emergency Response Benefit (CERB) payments and about 40% of the Canadian labor force turned to self-employment options to help them financially weather the pandemic storm.
Where there’s money and uncertainty, you’re likely to find scammers. After all, scammers tend to capitalize on uncertainty and use it as the entry point for their attacks. Whether it’s through a phishing email with a phony notice of reassessment, a text message threatening arrest, or a fake phone call from the Canada Revenue Agency (CRA), hackers often employ elements of fear in their attacks. McAfee’s 2021 Consumer Security Mindset study revealed that roughly 2 out of 3 Canadians (65%) plan to do their taxes online in 2021, with 12% of them doing so for the first time. With the increase in activities online, consumers are potentially exposed to more digital risks and threats, and knowing how these hackers tend to work doesn’t mean you have to live in fear. To help you identify and avoid potential threats, let’s take a look at some of the most common scams that hackers use during tax season.
Phone scams take one of two primary forms:
Some sophisticated scammers will weave stolen personal or financial data that they purchased on the dark web into their calls, such as bank or social insurance information. They intend to make their phony claims sound legitimate, hoping that an unsuspecting user will hand over their data or make a fraudulent payment.
So, what does a real call from the CRA entail? The CRA clearly outlines the reasons they’d be calling on their 2020 Tax Tips page and ways that you can follow up with the CRA to determine if a call is legitimate.
There are two instances where the CRA may contact you by email. One is during a telephone call or meeting with a legitimate CRA agent. The second is to send you a notification that you have a message or document for your review on a secure CRA site such as My Account, My Business Account, or Represent a Client. Anything else is likely a scam.
The one time where the CRA will send you an email containing links is if you have a call or meeting with an agent, as outlined above. Otherwise, you can be confident that an email with links is a scam.
This one is relatively straightforward: the CRA will never contact you via text, instant messaging, Facebook, WhatsApp, or any similar messaging service. If you receive such a message, delete it, and don’t click on any links embedded within it.
In many cases, hackers will aim to separate you from your money by demanding immediate payment in some form or other. They may request payment in pre-loaded debit cards, gift cards, e-transfer, or even bitcoin. Know that the CRA will never request payment in any of those forms.
When in doubt, ask yourself why this email or phone caller is demanding that you act immediately. Have you filed on time? Have you received written notice from the CRA already? Do you owe an installment payment? If the person contacting you leaves you unsure, you can confirm that the contact was legitimate by calling the CRA.
While recognizing the signs of tax-related fraud can help ease the burdens associated with these schemes, there are multiple steps you can take to prevent becoming a victim of tax scams in the first place. Follow these tips to stay on top of your tax return while securing your digital life:
Devices benefit from physical security. This is as simple as locking your smartphones, tablets, and computers with a PIN or password. Should one of those devices get lost or stolen, a lock provides a barrier for those who might try to access your personal and financial information on them.
Protecting your devices with comprehensive security software can help block the phishing emails and suspicious links that make up many of these tax attacks. Likewise, it can further protect you from ransomware attacks, another type of tax scam on the rise, where crooks hold your data hostage for a price. All in all, security software is always a smart move—tax time or any time.
Consider what’s on your old computer hard drive or stored away on your phone. Old devices tend to contain loads of precious personal and financial information. Look into the e-waste disposal options in your community that will recycle your old technology and do so securely.
While so many of our finances are handled electronically today (taxes included), we’d be remiss if we didn’t talk about physical security as well. Mail and porch theft still occur, which is one more way a thief can steal your personal and financial information to use in a scam. A locking mailbox is a purchase you may want to consider if you don’t have one already.
Recognizing the signs of tax-related fraud could allow you to take action and significantly suppress the repercussions. If you suspect you’ve fallen victim to fraud or believe that you’ve been tricked into giving away personal information as part of a scam, contact your local police service and make a report.
By staying proactive and vigilant, you’ll be in a better position to protect your identity and your data—and live your digital life with safety at the forefront.
To stay updated on all things McAfee and on top of the latest consumer and mobile security threats, follow @McAfee_Home on Twitter, subscribe to our email, listen to our podcast Hackable?, and ‘Like’ us on Facebook.
The post Tax Season is Here: Avoid These Common Scams Targeting Canadians appeared first on McAfee Blogs.
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