Fraud Prevention Series: 2022 Financial Fraud Trends

February 8, 2022

As the pandemic continues, fraudsters and cybercriminals act on opportunities they find to take advantage of victims. Digital fraud continues to be one of the most common. Here are some of the most common cybercrimes and how to avoid them.


Here are the most common types of online fraud:

Phishing or spoofing: this is the usage of false emails, text messages, or copycat websites to be used to commit identity theft or to obtain personal information including credit card and bank account numbers, debit card PINs, and account passwords.

Data breaches: these occur when sensitive data, such as personal or financial information, is unintentionally posted, leaked, or hacked from a secure location. The information then may be used to commit financial fraud.

Malware: this can be unknowing downloaded via an attachment or link. It is dangerous software that is designed to disable computers and computer systems.

Credit card fraud: this happens when scammers fraudulently acquire credit or debit card numbers to set up accounts or steal money or property.

To avoid these types of fraud, take these precautions when browsing or shopping for products and services online:

  • Learn the warning signs of common fraud schemes, such as phishing or spoofing, data breaches, and malware.
  • Also, be sure to know your buyer or seller, and do some research before completing the transaction if you don’t.
  • Consider updating your anti-virus software and anti-spyware programs on your computer. Most types of anti-virus software can be set up to make automatic updates. Spyware protection is any program that protects your personal information online from malware. Only install programs from a trusted source.
  • Make it a habit to not provide your personal information to anyone you don’t know. Never provide it in response to an email, a pop-up, or a website you've linked to from an email or web page.
  • Turn off your computer when you are not using it. Leaving it on could make it more susceptible to cybercrime.

If you believe you're a victim of online fraud, report it to the Internet Crime Complaint Center (IC3). Or, you can use the FBI’s online tips form. Your complaint will be forwarded to federal, state, local, or international law enforcement. You should also contact your credit card company if you are disputing unauthorized, possible fraudulent charges, or if you believe your credit card number has been compromised.

Tags: Fraud Prevention Series, Security