It's your responsibility alone if you are scammed!

Not a day goes by without headlines about someone getting scammed online. Every day, a fresh report emerges regarding yet another method fraudsters have attempted to deceive us into giving up our personal details or our cash.

Cybercriminals employ psychological manipulation to deceive victims into surrendering their funds, and their methods are becoming increasingly advanced. They publish fraudulent advertisements on social media sites, dispatch emails containing phishing links or malicious software.

Your vulnerability to them isn't determined by your intellect or level of education. In some ways, smarter individuals are vulnerable precisely because they think it won't happen to them. They assert, “I’m too smart; I could never fall for that,” but they do, possibly due to having a tough day.

The issue is that the digital realm has permeated the details of our daily lives — settling bills, purchasing groceries, and reserving tickets. In contrast to earlier hardware-focused technologies, where excitement came from adapting to the newest device, people must now fundamentally alter their way of life.

Undoubtedly, advancements in technology have enhanced our safety like never before. Yet, in tandem with this digital expansion, "nameless" offenders have emerged and are taking advantage of human emotional vulnerabilities.

Scammers use effective tactics to achieve their goals. A scammer might build your trust and pretend to be your friend before betraying you. Alternatively, they may use psychological tactics to intimidate you into compliance. In either case, realising that you have been deceived can be very emotional.

In the end, these scams leave their victims drained financially and emotionally shattered! Social media often acts as the main venue for conversations about scam tactics and ways to prevent fraud. Like all captivating ghost stories, they serve a social purpose, creating a shared vocabulary for our collective fears.

As stated in the 2024 Global State of Scams report by the Global Anti-Scam Alliance (GASA) in partnership with Feedzai, fraudsters have stolen more than $1.03 trillion worldwide within the last year.

“This amount competes with the GDP of certain countries,” says the report. However, within the statistics, the report provides optimism, highlighting a rise in consumer awareness and resistance to scams.

Online and digital fraud takes place when scammers exploit platforms like Facebook, Twitter, and Instagram to trick people into revealing personal information or sending money. These frauds usually appear as phishing messages, fake websites, or misleading online purchasing schemes and their promotions.

It would be great if Facebook, Twitter, and Instagram could keep an eye on fake advertisements. Although they implement measures to remove deceptive or rule-breaking ads and impose ad restrictions, an outright ban would eradicate their main revenue stream, requiring a total overhaul of their business operations.

Deceptive ads generate the same revenue as authentic ones, and they are even more profitable! Additionally, concerning the responsibility of social media platforms, it is important to acknowledge that Facebook's customers are its advertisers. The people who utilise Facebook are the product.

The reality is that Facebook and Google earn money by tracking your behaviour. They take advantage of your personal data to manipulate you and sell the means to affect you to marketing companies. That is an inadequate business model.

Falling prey to a scam isn’t your fault, but you can also take measures to recognise possible scams in the future and safeguard yourself. Stay aware of updates regarding new strategies employed by scammers and remain vigilant.

Avoid sharing personal details over the phone, even if the caller states they represent an organisation you're connected to, and take the time needed to verify their claims. And remember, it's your responsibility alone if you are scammed!