Be Aware: Online Scams Cost €10,000 for Unsuspecting Germans – Here’s How to Stay Safe
- Wiesbaden
- Schufa
Unsuspecting Web Users Often End Up Purchasing From Faux Online Retailers - Multiple buyers unwittingly purchase goods from false online stores
Fake internet retailers frequently ensnare consumers, leaving them out of pocket – with one in four individuals in Germany (24%) falling victim to online scams, according to a survey by Schufa.
These scams can be devastating. Six out of ten (61%) victims reported financial losses after being duped, often due to receiving no or subpar goods.
Here are some common scams criminals frequently succeed with:
- Scamming: Misleading victims with false information to persuade them to transfer money or disclose sensitive data.
- Identity Theft: Stealing personal data to enrich themselves, potentially leading to unauthorized purchases or further reselling of information.
- Subscription Traps: Trickering users into lengthy contracts with hidden costs that become apparent later.
In 34% of cases, the damage inflicted by online fraud varies between €100 and €1,000, while 28% suffer losses between €1,000 and €10,000. In 4% of instances, the cost exceeds €10,000. Personal data such as passwords, bank information, and addresses also end up in the hands of criminals, often through phishing emails, hacking social media accounts, or malware[5].
To protect themselves, consumers mainly rely on secure passwords (58%) and regularly updating their login data post-fraud (35%).
To avoid falling prey to online fraud, it's essential to:
- Maintain a healthy dose of skepticism, especially when clicking suspicious links or downloading attachments.
- Build robust passwords, preferably using password managers and two-factor authentication.
- Regularly monitor financial statements and credit reports for unauthorized transactions.
- Be wary of enticing offers, particularly free trials or subscriptions with undefined terms and costs.
- Opt for secure websites, especially when providing sensitive information.
- Proactively sign up for fraud prevention services, such as those provided by Schufa, to monitor creditworthiness and detect fraudulent activities.
- Seek legal consultation and action in case of identity theft.
Stay vigilant, and a bit of caution can ensure you steer clear of risky waters in the cyberspace.
- To safeguard oneself from financial loss due to online scams as highlighted in the community policy, it's crucial to maintain a healthy dose of skepticism, build robust passwords, and regularly monitor financial statements and credit reports.
- While creating a secure online environment, one should consider subscribing to fraud prevention services like those offered by Schufa, and ensure that they proactively opt for websites with secure connections, especially when sharing sensitive information.
