The development of the internet has opened excellent opportunities to learn endlessly, contact loved ones, and even access preferred goods and services. But along with the advantages, the internet is also fraught with risks such as fraud. In recent years, fraudulent activities have grown by around 70%. Thus, it becomes imperative to get familiar with common online scams, their modus operandi, and the best practices for reporting online fraud scams.

What is online fraud?
Online fraud includes everything from computer viruses that target computers to steal personal details to email scams that trick victims into sending money to phony sources. Again, “phishing” messages purportedly from reputable organizations (such as banks) ask recipients for personal information to misuse their identity. Fraudsters also exploit genuine online auction sites to sell fictitious goods. The techniques used by internet fraudsters are continually changing.

Each year, scammers use software or online services to con millions of individuals. These con artists deceive their victims into transferring money or divulging personal data. Therefore, it’s critical to take precautions for your safety and notify relevant authorities about such cyber crimes.

Immediately contact your bank
Contact your bank or credit card provider immediately if you were wrongfully charged. This enables them to take prompt and necessary action to protect your future financial stability.

Your bank can safely protect your profile, debit card, and cheques and freeze your credit card. Numerous financing organizations also provide fraud insurance, which covers some payments made without your permission, but you must report the inaccuracies as soon as they are discovered.

Register a complaint
You should report online fraud scams if you have been duped while purchasing from an online marketplace such as eBay or Amazon. Since most online marketplaces are trustworthy, they will assist you in finding the criminal(s) and help you to get your money back.

Even freelance websites have procedures in place to guard against fraud. For instance, a buddy who provided a service to a customer on Fiverr contacted the business when the customer declined to pay for the goods and services. Fiverr looked into the allegation and quickly deactivated the fictitious client’s account. Even if the contractor was denied payment, justice was done nonetheless.

Recover your money
Once they get defrauded, some internet customers sometimes give up, believing they will never receive their money back. However, there are some redress options, even if it is challenging to recover money after being scammed online.

PayPal Buyer Protection, for instance, can safeguard your money if you have used your PayPal account to purchase goods from an online retailer but haven’t received them. However, PayPal Buyer Protection will not cover you if a con artist makes a realistic imitation of the payment form and only takes your bank information. Whenever you order online, keep these things in mind.

Remember that using credit cards rather than debit cards has advantages. Banks and credit card firms have anti-fraud measures in place, as mentioned earlier. But if the fraud involves your bank account, it’s possible that the money will be taken out when the transaction is processed, and you’ll have to wait to get refunded. A credit card can be a barrier between the fraudulent transaction and your obligation to pay, and several cards provide purchase protection in such cases.

File a police report
In addition to all these, if you have been defrauded when purchasing online, you should consider filing a police report. For reasons that will prove beneficial, you must report online fraud scams to the police.
For one, your chances of getting back your money will increase. If the cash was taken from your bank account, you might have a better chance of recovering your funds if you report the incident to the police, who will speed up the hunt for the criminals.
Your bank or credit card provider will likely ask for a duplicate copy of the police report. Immediately contact your local police department using the non-emergency line rather than 9-1-1, and report the incident to the computer-related offenses section.

It is fun to place an online order while curled up on your couch, but the experience can change into something harrowing if a phony merchant steals your money. You can avoid being conned by carrying out basic steps such as checking for HTTPS and other identifying data about the seller or reviews from other purchasers. As none of these precautions are foolproof, immediately report online fraud scams and file a police report if you discover you have fallen victim to an internet shopping fraud.