With the increase in online shopping, the need for good digital financial security has become imperative. On the forefront of digital finance threats lie phishing attacks, deceptive tactics that exploit individuals' trust and familiarity with legitimate sources.
Understanding Phishing Attacks
Phishing attacks, the most common online financial threat, have the potential to wreak havoc on unsuspecting consumers. There are two common phishing attacks that could compromise your digital finance security; unauthorized activity scams and sale notifications.
Unauthorized activity scams typically involve notifications claiming suspicious account activity, while sale notifications offer enticing deals or coupons. Both strategies aim to deceive recipients into clicking on embedded links that redirect them to counterfeit websites cleverly designed to mimic genuine ones.
The scariest part about these scams is that these fake notifications replicate real ones. Oftentimes, real banks or stores will send emails notifying unauthorized activity and sales. Because both authentic institutions and scammers send these emails, it may be very difficult to tell which one is fake.
Preventing Phishing Attacks
There are many ways to prevent yourself from falling victim to financial phishing attacks. These include multi-factor authentication (MFA), never clicking links, and directly contacting the institutions.
Multi-factor authentication (MFA) is a way of adding another layer of security to prevent unwanted access to your account. MFA adds another layer of security by requiring additional information beyond a username and password. MFA is usually enforced through the sending of a verification code to the user’s email or phone.
The cardinal rule of phishing prevention is to avoid clicking links. Most phishing scams require some sort of action from the user, and the most common method is the use of fake links. The scammers will create websites that look identical to real ones and make you log in with your credentials. The easiest way to avoid this is to simply refrain from clicking the links they provide.
The final method of preventing phishing attacks is to directly contact the institution. Going off the previous point, avoiding any links or contact information given in the email or notification is best. If you need to access your account or website, searching up the institution’s contact or website and accessing it yourself is the safest way. Only with this method can the user ensure the legitimacy of the website or institution.
A noteworthy mention is Google’s email spam filter. Using AI machine learning, Gmail will automatically filter out spam and potential phishing emails. The best way to prevent phishing attacks is to not get any phishing emails in the first place, so checking out Gmail’s email filter might prove helpful!
While the convenience of online shopping and banking is undeniable, it is crucial to recognize the lurking threat of phishing attacks. Especially concerning teenagers, who are increasingly engaging in digital finance activities, a strong commitment to online safety practices is essential. By embracing the strategies mentioned above and cultivating a vigilant approach, teenagers can navigate the digital financial landscape with confidence and security.
Sources
