As we continue to digitize most parts of our day-to-day lives, we inadvertently create room for malicious individuals to exploit. While we socialize, do business, and search for love online, cybercriminals exploit the loopholes that exist in these online activities to wreak havoc on our finances.
According to the US’s Federal Trade Commission, in 2021, scammers fleeced their victims of $304 million from romance scams alone. This represents an increase of 50 percent from the previous year. All together, billions of dollars are lost to scams each year.
Scammers switch tactics frequently. When the internet catches up with one, they switch to another. In order to stay safe online, it’s important to stay informed about scam trends and avoid questionable entities that ask you to perform any financial transaction online.
