Online and Mpesa fraud continues to cause untold pain and suffering to unsuspecting victims as no day goes without a reported case of online fraud.
Here are 5 tips from an online payments expert on how to avoid getting scammed by fraudsters.
- If it sounds too good to be true, avoid it
There are many reasons why people use digital payments services – receiving money from friends and relatives abroad is just one of them. Sometimes you may use digital payments service to process payments for online work or online investments. When looking for a service to use, be wary of persons or companies that approach you purporting to save you huge transaction or foreign exchange fees as long as they handle the transaction for you. The rule is: if it’s too good to be true, avoid it.
- Make sure you are using a licensed provider
Use only reputable and licensed payment providers. Go online to the relevant financial regulator website to determine if the payment provider is licensed.
- Check availability of customer support and user reviews
Even if you are using a digital service that is simple and easy to use, it is always reassuring to know that you can turn to a customer support team in case you encounter any challenges. The best source of information on the safety, security and general user experience of a service is other users.
- Stay vigilant and up to date on latest trends
Be alert for scams that target consumers after the completion of a transaction. It’s not uncommon for scammers posing as tech support to inform you that there is something wrong with your transaction or account. To avoid becoming a target of such scams, do not provide sensitive data such as your password, your date of birth and other personal information. Familiarize yourself with the official communication channels of your service providers and avoid communicating through unofficial lines – it’s mostly always a scam.
- Beware of people impersonating brands
A common trick involves someone creating a fake social media account in an attempt to convince you that they are someone they are not to gain your trust. Make sure you check out who you are talking to and verify it is actually the brand you think it is.
Use these mind opening tips to protect yourself and your business.
The article was adapted from Sharon Kinyanjui, Director for Europe Middle East & Africa Receive Markets, WorldRemit.