Phishing scams involve fake emails that try to trick you into giving up personal details.
The message is the ‘lure’, but what you’re asked to give up is pretty personal information, like bank account passwords or credit card details. ME will never ask for your password or credentials via email.
How do Phishing scams work?
Why would anyone share this sort of personal information with a stranger? The answer is easy. Phishing scammers make their emails look like they come from trusted sources, like a bank or a government department.
There are plenty of ways phishing emails can catch you out, and make you the catch of the day. You may be asked to provide bank account details so a tax refund can be paid to you. Or asked to provide your credit card number to cover the cost of delivering an unexpected parcel. Or the sender may say they need to investigate unauthorised activity on your account.
The common thread however, is that the emails include a link for you to click on or an attachment to download. Either will take you to a fake website that asks for your personal details.
If you provide them with your details, you’re as good as opening the door to your bank account or credit card. But the damage doesn’t always end there. Phishing scammers can infect your computer with dodgy software that harvests even more data, letting the crooks steal your identity.
How can you spot a phishing scam?
It can seem hard to pick phishing emails from the real thing when the message may include the logos of big companies, the Tax Office or Australia Post. But scratch the surface, and spotting a phishing email can be surprisingly easy.
Double check the sender email.
Before you open a link in an unexpected email from an organisation, hover your mouse over the sender’s email address. While the email may appear to be from, say, PayPal, this hovering process may show a very different source – often a junk email address like, say, paypal@notice-access-666.com This shows you that PayPal is not the domain name that this email is coming from.
Spot generic clues in the wording.
If you open an email, and see it’s addressed ‘Dear Customer’ rather than their usual style of greeting you by your first name (like, say ‘Dear John’), this could be a clue the sender isn’t genuine.
Always check a link before opening.
To be sure you don’t fall for the scam, always check where a link will take you before clicking on it. Just hover your mouse over the link to see the destination address, which will appear in a small bar on the bottom of your browser. If it looks dodgy, or even if you’re just unsure, call the sender using a number gained from a reputable source – not the email, to check whether the email is genuine.
A bit of extra caution can keep you and your money safe online, and when it comes to phishing emails, aim to be the one that got away.
Keep safe from scams with ME.
We’ve given you the tips of the trade, but there are other ways to stay on top of trending scams and what to look out for. Stay updated by checking reputable sources like Scamwatch, or by checking our website regularly.
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This article is prepared based on general information. It does not take into account individual financial objectives or needs and is not financial product advice.