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This month, the Making Sense team answers client questions related to trade policy developments and their impacts on key economic issues.
Though it's undoubtedly beneficial to catch up with friends and family on social media, it's also important that you're aware of the possibility of scams. Knowing how to protect yourself from social media attacks is an important internet safety skill. It's also one you may have to update from time to time, as cybercriminals are always finding new ways to defraud their victims.
Here's what you need to know about how to protect yourself from social media attacks so that you can enjoy your time on your favorite platforms without worry.
In the same way a pickpocket chooses to work in physically crowded spaces, criminals take to social media because of the number of potential victims they can access there. And because we think of platforms like Facebook, Instagram and Twitter as places to connect with friends, we're often less likely to be on guard against fraud.
There are several common types of scams that prey on your comfort in the social media space. These include:
A friend sends you a direct message, telling you they've lost their wallet while on vacation and need you to wire money to them. The photo and account seem to match up with your friend—but it's a scammer behind the request. Social media criminals will either hack into a real person's account or create a new account using a real person's name and information, attempting to con the real individual's friends out of their money.
Phishing is when a scammer tries to steal your personal information by getting you to click on a malicious link. Some of these links will download malware onto your computer to steal your data. Other types of malicious links will prompt you to provide information—often relying on a sense of urgency. One common method is to ask you to provide information to protect or verify your account. Often, the cybercriminals will pretend to be a friend or trusted website.
Cybercriminals may also try to access your social media accounts directly by stealing or guessing your password—otherwise known as hacking. They can use social media to gain more information to help them better guess your passwords. One trick they sometimes use is social media quizzes. The quiz might ask questions like your childhood pet's name, your birth month or the street you grew up on. On the surface, it seems like they're asking these details so they can serve up the answer to "Which classic movie are you?" or "What's your Superhero name?" But in fact, some of these quizzes gather the kinds of information people often use for generating passwords.Â
When company data breaches occur, personal information including passwords and user IDs can be stolen. When events like these happen, the companies affected are required to notify you.
Though criminals are often finding novel ways to access people's information and money, there are several things you can do to protect yourself.
Social media can bring people together—but it can also bring cybercriminals to you. Knowing which common social media scams you're likely to encounter is a good first step to protecting yourself. But the best defense is following good internet safety protocols, such as strong passwords and security, verifying information before acting and being cautious about how and when you share your personal information. If you follow these best practices, you can feel more confident about enjoying your time on social media.
Links to third-party websites may have a privacy policy different from First Citizens Bank and may provide less security than this website. First Citizens Bank and its affiliates are not responsible for the products, services and content on any third-party website.
This material is for informational purposes only and is not intended to be an offer, specific investment strategy, recommendation or solicitation to purchase or sell any security or insurance product, and should not be construed as legal, tax or accounting advice. Please consult with your legal or tax advisor regarding the particular facts and circumstances of your situation prior to making any financial decision. While we believe that the information presented is from reliable sources, we do not represent, warrant or guarantee that it is accurate or complete.
Third parties mentioned are not affiliated with First-Citizens Bank & Trust Company.
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